CBN, NDIC, Others to Discuss Bank Recapitalisation at Summit The Nigeria Deposit Insurance Corporation (NDIC) the Central Bank of Nigeria (CBN) the Bank of Industry (BoI) the United Bank for Africa, Access Holdings Plc, and other financial institutions will be discussing the impact of the...

Nigeria Generated N1.43trn from VAT in Q1 2024 – NBS The National Bureau of Statistics (NBS) says the country generated N1.56 trillion as value-added tax (VAT) between April and June this year. The figure represents an increase of 9.11 percent when compared to the N1.43 trillion...

Company Income Tax Revenue Surges by 150.83% In Q2 2024 – NBS Nigeria’s Company Income Tax (CIT) surged by 150.83 per cent to N2.47tn in Q2 of 2024. A report by the National Bureau of Statistics (NBS) said the increase was from N984.61bn recorded in Q1...

Dismiss Reports, VAT Remains 7.5% – Edun Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, on Monday dismissed circulating reports that the Value-Added Tax (VAT) rate has been increased from 7.5% to 10%. In a statement signed by him, the Minister confirmed...

Why 150-day Duty-free Food Importation is yet to Commence The Nigeria Customs Service (NCS) on Thursday, said the suspension of customs duties and taxes on imported food items will be implemented as soon as the service receives the list of beneficiaries from the Ministry of...

Banks’ Deposits With CBN Now N3.42trn - Report The deposits of banks with the Central Bank of Nigeria ( CBN) hit a weekly high of N3.42tn at the end of last week. This followed the announcement of the operationalisation of the Standing Deposit Facility asymmetric corridor...