The Lagos State Internal Revenue Service (LIRS) signed a Memorandum of Understanding (MoU) with the Federal Inland Revenue Service (FIRS) to establish a joint tax audit system that will address duplication of efforts and facilitate the exchange of data. This was disclosed by Lagos state Governor, Babajide Sanwo-Olu after the signing ceremony on Monday in Lagos. The Executive Chairman, LIRS, Mr Ayodele Subair signed on behalf of Lagos State; his counterpart, Mr Muhammad Nami, Executive Chairman, FIRS, signed on behalf of the Federal Government. The Lagos Governor added that MoU is in the best interest of the public, as it…
Author: Oladi Samuel
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NG-CARES is welcoming applications from suitably qualified Nigerian small business owners who are in need of credit grants to co-finance their performing loans taken between 2020 and 2023. A statement seen by Nairametrics explained that credit grants could help to co-finance up to 40% of loans taken by small businesses following the onset of the COVID-19 pandemic. Note that eligible loans must have been taken from “qualified financial institutions”. More details: The Lagos NG CARES application portal is also open for applications to any of the following programmes- Operations Grant: For six months, this grant will provide 50% of any verifiable/documented operational…
Permanent Voter Cards (PVCs) that have been warehoused can no longer be used because they cannot be authenticated with Bimodal Voter Accreditation System (BVAS). This was disclosed by the Director-General of The Electoral Institute (TEI), Dr Sa’ad Idris, at the political parties’ polling agent training workshop and Training of Trainers (TOT) in Abuja. He urged election polling agents must be knowledgeable of their roles and what is expected of them. BVAS: He revealed that warehoused PVCs can no longer be used during elections as every voter must be authenticated with the BVAS, citing that there are new innovations to the…
Nairametrics held its first Economic Outlook for 2023 termed ‘Economic Opportunities to mitigate the impact of headwinds” on the 4th of February 2023. The event was held online, via Zoom, and in attendance over 500 participants from all over the country and in the diaspora. The event featured, the CEO of SBM Intelligence, Cheta Nwanze, CMO of Mixta Africa, Rolake Akinkugbe-Filani, Partner and Chief Economist at PWC, Andrew Nevin, and Financial Instructure and Public Affairs analyst, Kalu Aja. Rotus Oddiri of Arise TV Business hosted the show. Nairametrics Founder, Ugodre Obi-Chukwu was the main speaker at the event opening with…
Dr. Andrew Nevin, the Advisory Partner & Chief Economist of PricewaterhouseCoopers (PwC) West Africa, has advised that as an investor in Nigeria, don’t put all your eggs in one basket. He advocated portfolio diversification due to policy flux common in government that could wipe away investors’ assets in a short time. Nevin said this while responding to a question on ‘how Nigerian businesses can protect themselves from being wiped out’, at a panel of discussants recently, during the first Webinar session organized in 2023 by Nairametrics, themed: 2023 Economic Opportunities to Mitigate Impact of Headwinds. Brain capital Dr. Nevin…
During his presentation at the February 4 2023 Economic Outlook hosted by Nairametrics, a certified financial education instructor Mr. Kala Aja said for Nigeria to grow wealth in this period of economic volatility, diversification is the keyword. Aja, a financial analyst has said that for Nigerians to protect and grow their savings, and wealth in the face of rising inflation and other economic headwinds, they should embrace investment diversification. Aja stated this at the Nairametrics Economic Outlook 2023 Webinar with the theme: 2023 Economic Opportunities to mitigate the impact of headwinds. Investment strategies Aja who was speaking on challenges of wealth…
A Federal High Court in Abuja on Monday discharged former Governor of Imo State, Rochas Okorocha, of the N2.9 billion fraud charge preferred against him by the Economic and Financial Crimes Commission (EFCC). Delivering the ruling, Justice Ekwo, struck out the charges for contravening section 105 (3) of the Administration of Criminal Justice Act (ACJA), 2015, which gives the Attorney-General of the Federation the power to recall a case. The ruling was based on a preliminary application filed by Mr. Okorocha. EFCC must comply with the AGF’s directive Mr. Ekwo said the directive of the AGF and Minister of Justice,…
The Federal Capital Territory (FCT) High Court has barred the Central Bank of Nigeria (CBN) and President Muhammadu Buhari and 27 commercial banks from suspending or interfering with the currency redesign terminal date of February 10 or issue any directive contrary to the said date. The court in its order restrained the CBN from extending the deadline on the use of old naira notes. In a motion by 5 political parties, Justice Eneojo Eneche of the FCT court also granted an order directing the Chief Executive Officers (CEOS) of the banks, to show cause why they should not be arrested…
The Central Bank of Nigeria’s Cashless Policy may have exposed religious organizations to financial worries, Nairametrics investigations reveal. Already, there have been feelers that tithes and offerings are reducing, nudging clerics to start urging adherents to adopt transfers to pay tithes and offerings. An investigation by Nairametrics over the week, which culminated on Sunday, showed that clerics have started feeling the pinch of the policy, as it became burdensome to defray the daily expenses of running the organizations due to scarcity of cash, which became obvious yesterday. A priest at the Assumption Church, Igboelerin on the outskirts of Lagos, urged…
AFD Group is calling on African creative entrepreneurs to apply for its AFD Digital Challenge for a chance to win €450,000. The challenge is open to entrepreneurs who use technology to advance music, publishing, audiovisuals, the press, video games, and performing in Africa’s cultural and creative industries. The organiser believes that by promoting the establishment of economic opportunities for African youth through digital platforms, the cultural and creative industry can support growth and sustainable development. That’s because cultural and creative industries serve as a vital engine for social and economic advancement in addition to being a location for entertainment. These…