The Federal Inland Revenue Service (FIRS) yesterday said that the project to computerise the nation's tax system is billed to take off with the full implementation of the Unique Taxpayer Identification Number (UTIN) system in April next year. The computerisation system, which the service has been championing in conjunction with the Joint Tax Board (JTB) in the last four years,…
The Federal Inland Revenue Service (FIRS) yesterday said that the project to computerise the nation's tax system is billed to take off with the full implementation of the Unique Taxpayer Identification Number (UTIN) system in April. The computerisation system, which the service has been championing in conjunction with the Joint Tax Board (JTB) in the last four years, is expected…
The management of the Nigerian Stock Exchange (NSE) yesterday suspended Binos Yaroe, general manager, Listing and Quotation Department. He was placed on indefinite suspension over what was described as "indiscipline act". However, no further explanation was given as to the nature of the indiscipline. Mr. Yaroe, who was suspended on Tuesday, has been asked to stay off work from the…
Nigeria's First City Monument Bank said on Wednesday its pre-tax profit rose to 9.02 billion naira ($58 million) in 2010 from 856.6 million the previous year, and declared a 0.35 naira dividend per share. Gross earnings rose to 62.67 billion naira from 35.79 billion naira in 2009, the bank said in a filing with the Nigerian Stock Exchange.
Investors have continued to seek safe haven in bonds over equities, as trading activities at the bond market now increases on a weekly basis. Available data at the Nigerian Stock Exchange (NSE) showed that a turnover of 204.56 million units worth N187.204 billion was recorded last week at the bond market, 20.35 per cent higher than the 169.96 million units…
Smooth elections in Nigeria could differentiate it from other political hot spots in the region and trigger renewed frontier investor interest in its Eurobond and equities. Appetite for Nigeria’s $500 million debut Eurobond has been lacklustre since it launched two months ago, while a rally in the stock market in the first few weeks of the year has petered out,…
Europe’s prospects of receiving Libyan oil shipments would be weeks away, even if rebels were quickly removed from the international sanctions list, as big buyers say shipping and legal risks are still a concern. A senior Libyan rebel official said Gulf oil producer, Qatar, had agreed to market oil produced from east Libyan fields that are no longer under the…
he Nigerian Export-Import Bank (NEXIM) at the weekend said it is committed to facilitating the process that would lead to the creation of over 160,000 new jobs in four critical sectors of the country's economy by 2015. Managing Director/Chief Executive of the bank, Roberts Orya, said export-oriented diversification investments programmes is designed to help develop the potentials in the manufacturing,…
Uganda sees headline inflation staying below 10 percent provided international oil prices hold near current levels and the shilling does not weaken any more, a senior central bank official said at the weekend. Louis Kasekende, deputy governor, Bank of Uganda, also told a press conference that the shilling currency was undervalued but the bank had no intention of dipping into…
Nigerian interbank lending rates jumped to 10.41 per cent on average last week from 9.25 per cent the previous week as the market adjusted to a 100 basis point hike in the central bank's key interest rate, traders said on Friday. The central bank on Tuesday raised its benchmark interest rate to 7.5 per cent in a bid to ward…
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} The African Leadership Academy, based in South Africa, is a world class school committed to grooming a new…
In its bid to diversify Nigeria's foreign reserve base, the Central Bank of Nigeria (CBN) has begun training of staff and operators in trading in the Chinese Yuan. Lamido Sanusi, CBN governor, has always made a case for diversifying the country's foreign exchange reserve, with a small shift into Asian currencies, in particular the Chinese Yuan. "If anything is changing…
Cell phones have become such a major part of our existence and for most people, our telephone bills have become a large monthly expense. Have you ever returned from abroad to find a shocking mobile phone bill awaiting you? When you use your phone abroad, as soon as it is detected on a roaming partners network, expensive international roaming rates…
The recent public presentation of the book, ‘The Ogbunigwe Fame' by Felix Oragwu brought up memories of the technological innovations that kept the Biafran dream alive from 1967 to 1970. During the vicious civil war, Biafra was blockaded and starved of access to resources ranging from domestic goods to industrial products. Necessity thrust upon Biafra the need to innovate and…
The prices of some essential commodities such as sugar and cooking oil have shot up in Kano, a survey by the News Agency of Nigeria has shown. The survey at various markets in the metropolis on Wednesday, showed that the price of sugar and cooking oil recorded significant increases over the past three months. A bag of Dangote sugar, which…