LIRS Re-echoes March 31 Deadline to Taxpayers

By Adedapo Adesanya The Central Bank of Nigeria (CBN) has cautioned Nigerians to be wary of fake Naira notes currently in circulation, vowing to prosecute those engaged in the illicit acts. The apex bank in a release signed by Mrs Hakama Sidi Ali, the acting Director of Corporate Communications, said the counterfeit notes have been spread by some individuals for transactions in food markets and other places where commerce takes place across the country, noting that this is a punishable offence. “The attention of the Central Bank of Nigeria (CBN) has been drawn to the circulation of counterfeit banknotes, especially

By Dipo Olowookere A 0.12 per cent appreciation was recorded by the Nigerian Exchange (NGX) Limited on Friday, reversing the previous day’s losses triggered by profit-taking in the banking sector. Business Post reports that it was the same banking space that influenced the growth posted yesterday, rising by 1.60 per cent, supported by the consumer goods indices, which appreciated by 0.15 per cent. However, there were pockets of profit-taking during the last trading session of the week, with the insurance sector shedding 0.78 per cent, the industrial goods sector losing 0.65 per cent, and the energy counter declining by 0.57

By Bliss Okperan President Bola Tinubu on Monday morning departed Abuja for Maiduguri, the Borno State capital the Nigerian Army Annual Conference as a special guest of honour. Mr Tinubu left the seat of power from the presidential wing of the Nnamdi Azikiwe International Airport, Abuja. It is his first visit to the North-Eastern region of the country since assuming office on May 29, 2023, from former president Muhammadu Buhari. The event will include an address to the troops of Joint Task Force North East Operation HADIN KAI, an inspection of the ongoing Nigerian Army Reference Hospital in Maiduguri, and

By Aduragbemi Omiyale A $60 million trade finance facility to be used to stimulate African trade volumes by $90 million has been secured by Access Bank Plc. The fund was taken from the British International Investment (BII), the UK’s Development Finance Institution (DFI). It is believed that the loan would be used to strengthen import and export capabilities amongst local businesses and plug the foreign currency supply gap in Nigeria. The lender would be required to give loans to companies in construction, manufacturing and FMCG, with the aim to contribute to the UN Sustainable Development Goals 8 (Decent work and

By Adedapo Adesanya The Nigerian Bottling Company (NBC) has called on corporate organisations to join the Nigeria Business League for Youth, a coalition committed to deepening the youth development agenda in Nigeria. This call is coming ahead of the 2020 edition of the youth summit organised by the consumer-packaged-goods company, which aims to help the young at heart in Nigeria to take advantage of the new global economy. The event, which is expected to have dignitaries and stakeholders in attendance, will hold virtually in compliance with social distancing measures put in place to curb the spread of COVID-19. The Director,

By Aduragbemi Omiyale A respected finance expert, Mr Andrew Alli, has said if Nigeria intends to boost its gross domestic product (GDP), women must be allowed to reach their full economic and social potential. Mr Alli said this at a seminar organised by the Development Bank of Nigeria (DBN) in commemoration of International Women’s Day (IWD). He pointed out that women comprise half of the population of countries and restricting this huge manpower to just household management will hurt the economy. “Educating women is one of the most important development efforts to growing a country. If women are not able

By Dipo Olowookere Nine persons have been arrested for alleged vandalism of power supply infrastructure in Saminaka Local Government of Kaduna State. The Head, Corporate Communications of Kaduna Electric, Mr Abdulazeez Abdullahi stated this in a statement issued in Kaduna at the weekend. He disclosed that “the nine suspected vandals and their four motor vehicles were recently apprehended by the police in Saminaka while perpetrating their nefarious activities and have since been transferred to Kaduna”. According to him, three of the suspects have been arraigned before the Magistrate Court 1, Ibrahim Taiwo Road, Kaduna for vandalizing power supply equipment worth

By Modupe Gbadeyanka President Muhammadu Buhari has reiterated the importance of the Office of the Auditor-General for the Federation (OAuGF), declaring that with the help of the OAuGF, the country can do much more in audit reforms. Mr Buhari, represented by the Minister of Finance, Mrs Kemi Adeosun, made this declaration at the launch and public presentation of a 5-year Strategic Development Plan for the OAuGF on Thursday, September 21, 2017 Mrs Adeosun, who commended the efforts of the OAuGF at producing quality audit work in spite of limited funding, congratulated the office on its good work of producing a

By Adedapo Adesanya President Muhammadu Buhari has approved the amendment of the bid round calendar for 2022/23, according to the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This was disclosed by the Chief Executive Officer of the commission, Mr Gbenga Komolafe, in a statement on Saturday, noting that the approval is to accommodate the concerns expressed by both local and international investors over the closeness of the schedule to the terminal date of the present administration in the country. Mr Komolafe added that the move is geared towards boosting confidence in the transparency and continuity of the 2022/2023 Deep Offshore Oil

By Dipo Olowookere The management of Nigerian Breweries has said it was making concerted efforts to scale through the harsh operating environment, though it admitted that things have not been easy. On Monday, the company’s executives were at the stock exchange update investors on the steps being taken to navigate the storm. During the event, the brewer said this year has not been easy because of the impact of the COVID-19 pandemic, VAT increase, FX devaluation and scarcity of foreign exchange on its business operations. “In 2020, the results of Nigerian Breweries were adversely impacted by the COVID-19 pandemic, VAT

By Adedapo Adesanya As part of its pursuit towards improving Nigeria’s agriculture value chain, First City Monument Bank (FCMB) has announced the 2020 edition of the FCMB Agritech Epic Pitch, through which it plans to sustain funding for early to growth-stage entrepreneurs to grow and scale their Agritech businesses. This year’s edition, the third of its type, will be implemented through Hub One (the bank’s tech hub located in Lagos, Nigeria) in partnership with Passion Incubator, a Lagos-based early-stage tech incubator and accelerator. For this edition, FCMB will be providing grant funding of N1.5 million to two tech start-ups in