Court Orders FIRS to Stop Collection of Consumption Tax in Lagos Hotels, Restaurants

Travelling far distances by car, bus, plane, or train is not always fun. Did you know it can even have a harmful impact on your health, too? Long-distance travel, especially by car, taxi, or bus, can increase the risk of blood clot formation, a condition known as deep vein thrombosis (DVT). In many instances, people sit still in cramped and confined conditions for hours when they’re travelling a far way. But warns Dr Helen Okoye, a medical expert and spokesperson for the World Thrombosis Day (WTD) campaign, prolonged periods of inactivity can be dangerous. “When our bodies are in a

By Adedapo Adesanya The visa ban placed on Nigerian travellers by the United Arab Emirates (UAE) has been lifted after President Bola Tinubu held talks with the leader of the United Arab Emirates (UAE), Mr Mohamed bin Zayed Al Nahyan, on Monday in Abu Dhabi. According to Mr Ajuri Ngelale, the Special Adviser to the President on Media and Publicity, both countries finalised a historic agreement, which has resulted in the immediate cessation of the visa ban placed on Nigeria. “Furthermore, by this historic agreement, both Etihad Airlines and Emirates Airlines are to immediately resume flight schedules into and out

By Aduragbemi Omiyale In line with its expansion drive in Africa and Nigeria, in particular, three new hotels have been opened by Radisson Hotel Group in Lagos and Abuja. The hotels add over 400 rooms to the company’s portfolios in Nigeria, comprising 11 hotels in operation and under development, placing the group firmly on track to reach their objective of 15 hotels in Nigeria by 2025. The hospitality company said the additions include the highly anticipated debut of the bold and cutting-edge upscale lifestyle Radisson RED brand. The new Radisson RED Lagos, scheduled to open in the fourth quarter of

By Bliss Okperan The Minister of Aviation and Aerospace Management, Mr Festus Keyamo, has expressed displeasure over the inability of foreign airlines to take their funds away from Nigeria to their home countries. According to the International Air Transport Association (IATA), as of June 2023, the total amount of foreign airlines’ trapped funds in Nigeria has risen to $812.2 million. Airline operators have been unable to repatriate their money because of the foreign exchange (forex) issues Nigeria is experiencing due to a decline in FX earnings. Speaking at the 7th Aviation Africa Summit in Abuja on Wednesday, the Minister said

By Dipo Olowookere The board of Ecobank Transnational Incorporated has announced the results of the company for the first quarter of 2019. In the financial statements, Ecobank reported 8 percent decline in its profit before tax, which dropped to $103 million on operating income or net revenue of $388million, compared with a profit before tax of $111 million on operating income of $465 million for Q1 2018, but when adjusted for the impact of foreign exchange (FX) translation, profit before taxi ncreased 31 percent to $145 million. According to the results, profit attributable to shareholders of Ecobank and diluted earnings-per-share

By Dipo Olowookere South Africa has exited recession three months after it slipped into an economic crisis, the country’s stats office has disclosed. A release by the Statistics South Africa (SSA) said the nation’s Gross Domestic Product (GDP) grew by 2.2 percent in the third quarter of 2018. SSA had in September 2018 announced that South Africa slipped into recession in the second quarter of this year for the first time since 2009 after the economy contracted by 0.7 percent. The slip was caused by declines in the agricultural, transport and retail sectors. Though South Africa, one of the biggest

By Jerome-Mario Chijioke Utomi A cursory look at the oil and gas host communities in Delta State reveals an area tensed up with a lot of issues, intrigues and hiccups. Their anger in the present moment, going by media reports, is precipitated by the alleged opaque manner the former governor of the state, Ifeanyi Okowa, managed the 13% oil derivation fund that accrued to the state. Correspondingly, it will not be characterized as hasty to conclude that there is presently in Delta State no agency or commission that is troubled as the Delta State Oil Producing Area Development Commission (DESOPADEC),

By Dipo Olowookere A total of 989.6 million shares worth N8.2 billion were traded by investors last week in 19,617 deals on the floor of the Nigerian Exchange (NGX) Limited. This was lower than the 1.4 billion shares valued at N11.8 billion transacted a week earlier on the exchange in 22,982 deals, according to data obtained by Business Post. Despite this decline in the level of transactions, the stock market appreciated in the five-day trading week by 0.68 per cent, with the All-Share Index (ASI) and market capitalisation rising to 38,810.75 points and N20.221 trillion respectively from the preceding week’s

By Nkem Ndem The National Youth Service Corps (NYSC), an organization set up by the Nigerian government since 1973 to ensure Nigerian students give a mandatory one-year service upon graduation, recently posted names of those qualified to join the last batch of the programme for the year. However, while these individuals are much elated to get the opportunity, seeing as completing the service year entitles one to employment, a number of them are perturbed as to how to cope with the three weeks ‘orientation’ period spent in a military-controlled boot ‘camp’ away from family and friends. Jumia Travel, therefore, suggests

By Modupe Gbadeyanka A Swiss security company, SICPA SA, has been convicted of corporate criminal liability in connection with acts of corruption and has been directed to pay CHF 81 million. With the penalty order issued in accordance with Art. 102 para. 2 SCC in conjunction with Art. 322septies SCC, SICPA has acknowledged that it failed to take all necessary and reasonable organisational precautions to prevent bribes to foreign public officials. It was gathered that SICPA and its former employee have declared that they will not be appealing against the penalty orders, which will be legally binding. According to reports,

By Dipo Olowookere Minister of Budget and National Planning, Mr Udo Udoma, on Thursday disclosed that the country’s economy was recovering and that by the end of the year, there would be a positive growth across sectors. While speaking at a public consultation on the 2018-2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper with Civil Society Organizations (CSOs), media and the organized private sector at the Federal Ministry of Finance Headquarters Abuja, Mr Udoma said Nigeria has exited recession in the “non-oil sector.” He disclosed that the non-oil sector was growing and that recovery was being witnessed in