FIRS To Capture MDAs Revenue, Waivers As Taxes     The Federal Inland Revenue Service (FIRS) has disclosed that henceforth government revenue, tax waivers, import duty waivers among others will be captured as tax revenues to the Federation. The FIRS said that this will improve Nigeria’s tax-to-GDP ratio...

Reps Summon NEPZA, OGFTZ , Allege Unremitted Taxes By Contractors       The House of Representatives’ Committee on Public Accounts has resolved to invite the Nigeria Export Processing Zones Authority and the Oil and Gas Free Zone on the tax status of Julius Berger Plc, CETRACO, Salini...

Five Banks’ Interest Income Drops To N376bn, Experts Blame CBN Cash Reserve Policy       The combined net interest income of five publicly-quoted commercial banks has declined by N48.69bn in the last one year, according to the financial statements of the lenders analysed by our correspondent. Specifically, the...

Importers To Pay N300bn Freight Rates On Foreign Rice To Nigeria, Others     Foreign rice importers will pay a total of N300 billion ($579. 75million) to shipping lines as freight rates by the end of this year. The rice importers, who are expecting their consignments from Thailand...

Senate Queries PEF’s N100m Interest On 2015 N34bn Fixed Deposit       The Senate has condemned the management of the scrapped Petroleum Equalization Fund for not remitting all the N182m interest that accrued from the N34bn in fixed deposit of some banks. The agency only remitted N82m without...

Buhari Directs TETfund To Increase Research Fund To N8bn     The President Muhammadu Buhari has directed the Tertiary Education Trust Fund (TETFUND) to increase research fund under the National Research Fund (NRF) scheme to the tune of N8 billion. The president gave the directive yesterday at the...