- FIRS directs companies within free trade zones to file income tax returns
The Federal Inland Revenue Service (“FIRS”)has issued a public notice to all approved enterprises operating within Nigeria’s Export Processing and Oil & Gas Free Zones to file income tax returns for 2021 and subsequent years of assessment; and compute income tax and pay the tax due. To read more, click HERE
- Presidency: No room for another national confab
The Presidency has asked Nigerians to ignore those calling for secession, saying President Muhammadu Buhari cannot be intimidated and bullied for their selfish interests. The seat of power also ruled out the calls for another National Conference to discuss the much-talked about unity of Nigeria, saying the elected lawmakers were best suited to perform the role of reviewing the nation’s constitution. To read more, click HERE
- Equity market sustains growth, gains N88bn
Trading activities on the floor of Nigeria Stock Exchange yesterday sustained growth profile, appreciating by N88 billion. Market Capitalisation of listed equities increased by 0.43 per cent to N20.418 trillion from N20.330 trillion traded on Monday. The NSE All Share Index also appreciated by 167.56 basis points to 39015.58 points from 38848.02 points reported the previous day. To read more, click HERE
- Forex: CBN asks exporters to repatriate proceeds
The Central Bank Governor, Godwin Emefiele, has urged exporters to repatriate export proceeds in order to boost foreign exchange inflow in the country. He spoke while making a presentation at Zenith’s Bank’s 2021 export seminar on Tuesday. To read more, click HERE
- Lagos state to hold LG poll in July
The Lagos State government says it plans to hold its local government councils poll in July. Retired Justice Ayotunde Phillips, Chairman of Lagos State Independence Electoral Commission (LASIEC) said this in a statement on Tuesday in Lagos. To read more, click HERE
- Nigeria’s trade volume with South Korea plunges by 74%
The Federal Government on Tuesday said the volume of trade between Nigeria and South Korea plunged by 74 per cent within a two-year period. Minister of Industry, Trade and Investment, Adeniyi Adebayo, specifically stated that the volume of trade between both countries dropped from $5m in 2018 to $1.3m in 2019. To read more, click HERE
- How to create business SOPs (Standard Operating Procedures)
Let me ask you real quick “For how long can you afford the things you can now, or the lifestyle you live if you stopped doing what you currently do?” Beyond wealth and business growth, freedom is the ultimate goal. To read more, click HERE
- Importers lose N16bn yearly to foreign shipping firms
For about three years now, Nigerian importers have been paying an arbitrary fee of N16 billion yearly as container deposit fees to foreign shipping companies.
Executive Secretary, Nigerian Shippers Council (NSC), Hassan Bello, who disclosed this during a press conference in Lagos, described the fee as exploitation, noting that the agency is collaborating with the National Insurance Commission (NICOM) to put an end to the arbitrary payment by the second quarter of 2021. To read more, click HERE
- How to integrate Nigeria into global map in shipping, seafaring, by NSML
For Nigeria to play active role among the comity of maritime nations, there is need for it for to develop its local capacity in seafaring and put mercenaries in place to ensure that its vessels fly Nigerian flag and accepted globally.
Already, the NLNG Ship Management Limited (NSML), the shipping arm of the Nigeria Liquefied Natural Gas (NLNG) said it has commenced arrangements with NIMASA to ensure that the nation builds the regulatory capacity so that Nigerian flag can be accepted internationally. To read more, click HERE
- Gains by highcap stocks lift market index
The Nigerian equities market extended bullish on three consecutive trading sessions, as more highly-capitalised (highcap) stocks appreciated at price, resulting in a further rise in the All-Share Index (ASI) by 0.43 per cent. At the close of transactions yesterday, the ASI grew by 167.56 absolute points, representing a growth of 0.43 per cent to close at 39,015.58 points while market capitalisation gained N88 billion to close at N20.419 trillion. To read more, click HERE