Weak Purchasing Power Pushes Unsold Goods to N1.24trn, MAN Reveals The Manufacturers Association of Nigeria (MAN) has stated its unsold manufactured goods have reached a record N1.24tn, as its unsold inventories increased by 357.57 per cent in the first half of 2024. MAN attributed this sharp...

Dangote named most tax complaint business organizations by FIRS It was a season of award at the weekend for the Dangote Group and its subsidiaries following their recognition as best Nigeria’s best compliant tax payer business organization and FMDQ Gold award winner for being the...

Tax Bills not Threat to Govt Agencies – FIRS Zacch Adedeji, Chairman of the Federal Inland Revenue Service, has dismissed concerns that the four tax bills currently before the National Assembly threaten the existence of any government revenue-generating agency or its operations. This was contained in...

Currency Outside Banks Increases by 66% – CBN Currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02tn compared to N2.42tn in September 2023, a notable rise of N1.60tn in just one year. This is according to the Money and Credit Statistics data...

FG Offers Nine-month Window for Forex Deposit without Tax, Scrutin The Federal Government on Thursday announced a nine-month programme beginning on October 31, 2024, that allows individuals to deposit dollar bills held outside the formal banking system without scrutiny. It said the new initiative aims to...

Northern Govs Reject Tinubu’s Planned Tax Hike   The 19 state governors in the Northern region have aired their strong displeasure on the recent Tax Reform Bill the Federal Government submitted to the National Assembly for approval. The governors particularly rejected the proposed shift to a Derivation-based...