Business

Manufacturers Association of Nigeria, MAN, has faulted the introduction of tax on soft drinks by President Muhammadu Buhari’s administration. The Association’s Director General, Segun Ajayi-Kadir, noted that excise duty will lead to 0.43 per cent contraction in output and 40 per cent drop on industry revenues in the next five years. Ajayi-Kadir, warned of the effect the tax on the masses, amid the unpleasant impact on employment, adding that the […]

Economic and Financial Crimes Commission, EFCC, has said money laundering weakens the economic growth of a nation. Chairman of the Commission, Abdulrasheed Bawa, disclosed this at a two-day workshop on anti-corruption organized by the Abia State Government in Umuahia, the state capital. Bawa called on every citizen to join hands with the commission to curb financial and economic crimes in the country. The Chairman commended the state government for organizing […]

The Federal Government says it has disbursed no fewer than N38 billion in loans to support Small and Medium Scale Enterprises, SMSEs, over the past four years. This is according to the Vice President, Professor Yemi Osinbajo, who spoke on Thursday at an event organized by the Aisha Buhari Foundation in Abuja. Osinbajo decried that the global COVID-19 pandemic has led to a sharp drop in income of most families […]

The Federal Government says the Federal Inland Revenue Service, FIRS, will continue to collect Value Added Tax, VAT, following the ruling of the Court of Appeal on the matter. Attorney-General of the Federation, Abubakar Malami, disclosed this in New York while speaking on the disagreement over the collection of VAT between FIRS and Rivers Government. Malami noted that the ruling of maintaining the status quo by the Court of Appeal […]