Category: Business News
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Daggers drawn over VAT collection in Rivers as FIRS appeals court judgement
The Federal Inland Revenue Service (FIRS) on Wednesday said it has appealed the judgement of the Federal High Court in Rivers which held that the agency does not have the right to collect Value Added Tax (VAT) in the state.
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Court orders CBN to temporarily unfreeze accounts of two fintech companies
The Federal High Court, Abuja, on Tuesday, granted the request of Bamboo Systems Technology Limited and Bamboo Systems Tech. Ltd., to partially vary the freezing order made against them.
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Court rejects FIRS suit seeking to stop Rivers Government from collecting VAT
Justice Stephen Dalyop Pam of the Federal High Court in Port Harcourt, Rivers State on Monday refused an application by the
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How price differentials is fueling petrol smuggling – NNPC
The Nigerian National Petroleum Corporation (NNPC) has explained that concerted efforts by the Corporation and some Federal agencies to combat the menace of smuggling
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Nigeria’s Naira hits all-time low, exchanges for N530/$ at parallel market
The Nigerian currency, naira has hit an all-time low after exchanging for N530/$ at the parallel market on Thursday. Data posted on Aboki FX in Thursday evening showed that Naira is exchanging for N530/$ from the previous N528/$. There has been a steady pressure in the foreign exchange market in the last one week as…
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Again, Naira in free fall, crashes badly at parallel market
m Naira again plunged against the U.S. dollar at the unofficial market Wednesday. Also, the currency fell at the official market, after clinching a slight gain in the previous session on Tuesday. According to abokiFX.com, naira closed at N528.00 per $1 on Wednesday, the lowest ever recorded at the parallel market. This represents a N2.00…
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FG to make curious provision for fuel subsidy in 2022 – NNPC GMD
The Federal Government will make provision for subsidy in 2022, the Nigerian National Petroleum Corporation (NNPC) has said.
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CBN orders banks to publish names, BVN of Forex defaulters
The Central Bank of Nigeria has instructed banks to publish the names and Bank Verification Numbers BVN of its customers who default on its Forex policy. In a circulate to banks dated Monday, August 30th, the apex bank lamented that it has “received and noted with concern reports of sharp practices by some unscrupulous customers…
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CBN partners British fintech to develop digital currency
The Central Bank of Nigeria, on Monday, announced the formal engagement of a global fintech company, Bitt Inc., as the technical partner for its digital currency. The CBN said the digital currency, called ‘eNaira’, would be unveiled before the end of this year. According to a statement by the acting Director, Corporate Communication, Osita Nwanisobi,…
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N300.5m tax defaults: GTBank, First Bank land in Kaduna Government’s trouble; head offices, branches sealed
The Kaduna State Internal Revenue Service (KADIRS) sealed the head offices and other branches of four banks in Kaduna on Monday over N300.5 million unpaid taxes.