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Tax Matters

FG injects N350b into economy, mulls VAT increment

The federal government has said that it will inject N350 billion budgeted expenditure to revamp the Nigerian economy in the next few months. It will equally work in collaboration with the state governments to adopt a plan for the gradual increase of value added...

Non-oil revenue down by 58% to $4.3bn — CBN

The Central Bank of Nigeria (CBN) has said that the revenue from non-oil exports fell sharply by 58 percent to $4.39 billion in 2015. Meanwhile, Zenith Bank has expressed its readiness to enhance revenue from non oil exports by assisting its clients with financing support...

Govt Can Tax Religious Institutions For Additional Revenue

Recently, the Founder of INRI Evangelical Spiritual Church, Elija Ayodele, took a swipe at churches in Nigeria that do not do enough to alleviate the sufferings of their members. According to him, it is sad that although many Churches receive donations in billions, they find...

SBH accuses CBN over N7.7trn stamp duty revenue 

The School of Banking Honours (SBH) has called on the Federal Government to reverse the N50 stamp duty recently introduced on electronic transfers, insisting that the Central Bank of Nigeria (CBN) and the Nigeria Interbank Settlement System (NIBSS) did not remit N7.7 trillion Stamp...

Audit all revenue sources now, Reps order FG 

The House of Representatives has urged the federal government to undertake a comprehensive audit of all the revenue generating sources in the country to boost economy. Daily Trust reports that the federal government had in January ordered the audit of all revenue generating agencies in...

NASS query CBN over utilisation of N1trn revenue in 2015

The joint Committee of the Senate and House of Representatives on Banking and Currency yesterday queried the nation’s apex bank, the Central Bank of Nigeria, CBN, for allegedly spending N1.062 trillion revenue above the N482.167 billion proposed income for the year 2015. The lawmakers, who...