Category: Business

Nigerian Breweries depot sealed over N169 million tax liabilities

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The High Court sitting in Akure, Ondo State yesterday, ordered that the Nigerian Breweries (NB) Plc depot in Akure be sealed off pending the settlement of their tax liabilities to the state government. Justice William Akinrotoye also granted the cross-petition of the state government for the recovery of N169.175 million from the company, being the haulage fees it owed for the period 2017 to 2019. Consequent upon series of arguments from both the petitioner and the respondents’ counsel, Justice Akinrotoye ruled in favour of the state government, dismissing the petition…

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15 to 20 million Nigerians to become poor soon – World Bank

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The World Bank and the Chairman of the Presidential Economic Advisory Council, Dr Doyin Salami, have said Nigeria needs to implement key reforms in order to get the economy out of the current doldrums and achieve sustainable inclusive growth. They said this on Tuesday at the virtual launch of the 2021 Macroeconomic Outlook of the Nigerian Economic Summit Group, a private sector-led think-tank. At the forum, the World Bank said its estimates show that between 15 million and 20 million Nigerians will join the poverty rank by 2022. World Bank…

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FIRSTBANK SUPPORTS SCHOOLS WITH ARRAY OF EXCITING EDUCATIONAL SOLUTIONS

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First Bank of Nigeria Limited is supporting schools with an array of educational based products and solutions targeted at enabling the acquisition of various facilities to boost the continuous expansion and improvement of the educational sector. Parents are not left out, as the Bank has bespoke products which empowers parents and guardians to meet the educational needs of their children. The Bank’s educational products and solutions include the FirstEdu Loan, Operational Vehicle Loan, Term Loans for constructing new sites and extension of existing sites, Personal Loan Against Salary (PLAS) and…

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$13bn Paris Club refunds: How Linas, Nwoko were threatened – Lawyers

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By Emma Amaize LINAS International Limited and former Member, House of Representatives, Hon Ned Nwoko, have disclosed how they were threatened in their bid to untangle the excess charges and over deductions in Paris Club advances for which the Federal Government had refunded $13 billion to States and Local Governments Areas. An Interim Management Committee, IMC, of Association of Local Government of Nigeria, ALGON, recently distanced the association from the current plan by the Federal Government to pay Linas and Ned Nwoko their overdue consultancy fees, but ALGON national president,…

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Mike Ozekhome, others for DAMA Awards and 10th Anniversary

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The 10th edition of Dama Media Awards is billed for February 18, 2021. The annual award organized by the management of Dama Media Concept is to also celebrate the consistent existence of The Voice Magazine. Notable among dignitaries invited to grace the occasion are Dr. Kayode Fayemi, Governor, Ekiti State, who is going to chair the event, while Gov. Nasir El-Rufai of Kaduna State is to be the guest speaker, who will be speaking on, “Restructuring, the only solution to Nigeria’s crisis”. The Royal fathers expected to grace the occasion…

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LIRS: Employers of labour should file annual tax returns on or before January 31 deadline

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In line with the Personal Income Tax Act (PITA) Cap P8 LFN 2011 (as amended), The Lagos State Internal Revenue Service (LIRS) urges all employers of labour in Lagos State to file their Company’s Annual Tax Returns on or before the statutory deadline of January 31, 2021 to avoid penalties. The Agency’s eTax platform, launched in October, 2019 gives taxpayers the opportunity to comply with all COVID-19 protocols, by filing their tax returns from the comfort of their offices or homes. In addition, all digital platforms and tax portals are…

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FirstBank strengthens financial inclusion with largest agent banking network, empowers SMEs

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At present, there are over 86,000 banking agents across 772 out of the 774 local government areas in Nigeria, a demonstration of FirstBank’s commitment to deepening financial inclusion and ensuring the unbanked are adequately catered for. In an interview with BusinessDay, Adesola Adeduntan, FirstBank’s CEO, noted that over N9.6 trillion had been processed through the bank’s agent network. As he explained, FirstMonie agents have supported several government and NGOs’ cash transfers to the poorest of the poor in the rural areas. Additionally, selected FirstMonie agents in the rural communities are…

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FirstBank starts the year with an innovative, convenient virtual payment card

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First of Bank of Nigeria Limited, Nigeria’s leading financial inclusion services provider has launched the Virtual Payment card, a Naira denominated debit card and digital representation of the plastic debit card. The card is designed to be linked to either a customer’s operative account or wallet account. The FirstBank Virtual Payment Card is a suitable alternative to the use of cash and cheques, with its wide-range features which include the ability of cardholders to protect his/her card using the block and unblock capabilities; PIN Reset; Change PIN as well as…

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NIMC to subscribers: You can’t link SIM with BVN-generated NIN

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The National Identity Management Commission says Subscriber Identification Modules(SIM) would not be linked with National Identity Numbers generated through Bank Verification Numbers. This was disclosed on Tuesday, in tweets via its official Twitter handle, stressing that individuals with BVN-generated NINs should visit NIMC offices to validate their NINs. It said the BVN-generated NIN would not work on its newly inaugurated mobile app. “You must complete your NIN registration even if your BVN has generated a NIN,” the commission stated. It added, “If your NIN was generated due to the BVN…

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THE 59TH FIRSTBANK LAGOS AMATEUR GOLF OPEN CHAMPIONSHIP TEES-OFF

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Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited has announced that the 59th edition of its annually sponsored Lagos Amateur Golf Championship Teed-Off at the golf section of Ikoyi Club 1938 on Monday, 28 December 2020. The competition, which is one of the longest running international amateur events in the country is endorsed by the United State Golf Association (USGA) and the Royal and Ancient (R&A) of Scotland. Preceding the 2019 event, the golf tourney reached the notable milestone of being listed amongst the golf…

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