Nigeria's National Information Technology Development Agency (NITDA) revealed Google, X, Microsoft, and TikTok contributed ₦2.55 trillion in taxes during H1 2024. The agency highlighted compliance with regulatory codes, content moderation achievements, and the need for ongoing collaboration to...
The Central Bank of Nigeria (CBN) has debunked rumors of forced mass retirements, clarifying that its Early Exit Package (EEP) is voluntary. The initiative, now extended to all staff levels, aims to support career growth without adverse consequences for non-participants, following consultations...
Netflix has reportedly exited the Nigerian market, sparking concerns in the entertainment industry. Known for promoting Nollywood globally through hits like Oloture and Blood Sisters, its absence could limit opportunities for creators and viewers. Economic challenges and market barriers are...
Nigeria’s tax reform bills propose the phasing out of special tax privileges for TETFUND, NASENI, and NITDF by 2029, redirecting funds to the Student Loan Fund. Critics warn this will impact educational and scientific infrastructure. The proposed changes face significant opposition across...
The Naira appreciated to N1,725 per dollar in the parallel market, a slight increase from N1,730 on Monday. However, the Naira remained stable at N1,672.69 in the Nigerian Autonomous Foreign Exchange Market (NAFEM). The volume of dollar trading decreased by 18.2%, narrowing the margin between...
NERC has set a deadline for electricity distribution companies (DisCos) to complete the migration to Standard Transfer Specifications (STS) meters by January 1, 2025. DisCos that fail to meet the deadline will face daily penalties. The move is part of efforts to address faulty metering and...
The Central Bank of Nigeria (CBN) introduces dedicated phone numbers and emails for Nigerians to report cash withdrawal challenges at banks and ATMs. This initiative aims to improve currency circulation, enforce compliance among banks, and address public concerns about cash scarcity efficiently...
Aero Contractors, Nigeria's oldest airline, announces a festive season fare of at least N80,000 for all local flights. This initiative, lasting until January, is aimed at supporting Nigerians during the Christmas period. As of Tuesday, economy tickets to Abuja are priced at N99,643, and business...
Presidential Committee Chairman Taiwo Oyedele claims 90% of Nigerians support tax reform bills aimed at economic growth. Despite backing from surveys, the bills face criticism over regional disparities and consultation gaps. President Tinubu remains steadfast on advancing the reforms, promising...
Taiwo Oyedele, chairman of the Presidential Fiscal Policy and Tax Reforms Committee, explains that the new tax reform bills aim to foster inclusive growth and ease the burden on low-income earners. The reforms seek to overhaul Nigeria’s outdated tax system, addressing revenue leakages and...
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