30 results
- 4 Feb 2021
Finance Act 2020: NCC, Sister Agencies to Strengthen Collaboration with FIRS
An inter-agency committee set, up by Dr. Isa Ali Ibrahim Pantami, minister of Communications and Digital Economy, to discuss areas of collaboration between the agencies of the Federal Ministry of…
- 15 Feb 2021
StanChart Hosts Clients to CAMA and Finance Act 2020 Roundtable Discussion
Standard Chartered Bank Nigeria limited in conjunction with leading law firm, Udo Udoma & Belo-Osagie (UUBO) hosted clients, Global investors, Custodians, Bankers and Institutional investors to a…
- 12 Feb 2020
Standard Chartered Supports ACT 2020 Workshop
Standard Chartered Bank was the main sponsor at the 2020 Association of Corporate Treasurers (ACT) workshop titled “Treasury Excellence as Standard” which held in Eko Hotel & Suites, Lagos, on…
- 10 Jun 2025
SEC Directs Companies to Honour Unclaimed Dividend Requests
Securities and Exchange Commission (SEC) has directed all public companies and Registrars to stop treating unclaimed dividends older than 12 years as “statute-barred”, especially those dating from…
- 3 Feb 2020
Banks Begin to Charge 7.5% VAT on e-Transactions, Others
Banks have adjusted the stamp duty charges on electronic and other taxable transactions with effect from February 1, 2020. This is in furtherance of the implementation of the new Finance Act recently…
- 7 Jan 2021
Angst as FG Goes After N895Bn Unclaimed Dividends, Dormant Accounts’ Balances
The federal government has perfected ways to borrow funds from unclaimed dividends and dormant bank account balances unattended to for at least six years, thanks to the 2020 Finance Act, despite…
- 25 Jul 2025
Cardoso, CBN Boss Risks Arrest over Alleged N5.2 Trillion Unremitted Funds
The Joint Committee of the House of Representatives on Public Accounts and Public Assets has threatened to issue a warrant of arrest against Mr. Olayemi Cardoso, governor of the Central Bank of…
- 7 Jan 2021
FG Slams N50 Levy on Electronic Money Transfer of up to N10,000
The Finance Act 2020 recently signed into law by President Muhammadu Buhari, imposes N50 levy on electronic transfer of money deposited in any bank or financial institution on any account on sums of…
- 10 Jan 2021
SERAP Fights FG over Plans to Take over Dormant Account Balances, Unclaimed Dividends
The Socio-Economic Rights and Accountability Project (SERAP) has sent an open letter to President Muhammadu Buhari urging him to use his leadership position “to promptly drop the plan by the Federal…
- 17 Mar 2021
FIRS Dismisses Pantami, Insists NIPOST Not Authorised to Collect Stamp Duty
Federal Inland Revenue Service (FIRS) has maintained that the collection of stamp duty collection in Nigeria was still under its purview. The agency described as false publications in some newspapers…
- 13 May 2025
Nigerians May Pay More for Calls, Data as Senate Okays 5 Percent Excise Duty
Telecommunications subscribers in the country could soon be paying 5 percent more for data and voice services if President Bola Tinubu signs Nigeria Tax Bill 2024 into law. Passed in the Senate on…
- 10 Dec 2020
SEC @ Senate Hearing Opposes FG’s Move to Manage Unclaimed Dividends
Securities and Exchange Commission (SEC) is opposed to a proposed amendment in the Finance Bill 2020 that prescribes that unclaimed dividends be handed over to the federal government as trustee,…
- 5 May 2022
Call Tariffs to Increase as FG Slams 5 Per cent Duty on Recharge Cards
President Muhammadu Buhari, has reportedly approved the collection of five per cent excise duty on telephone recharge cards and vouchers. This is coming as telecom operators under the aegis of…
- 2 Jan 2025
Subscriber Group Rejects Telcos Push for Tariff Hike
National Association of Telecoms Subscribers (NATCOMS), a telecoms subscriber body, has warned Nigerian Communications Commission (NCC) not accede to demands by telecommunications companies in the…
- 21 Aug 2022
NCC Stays with Consumers in the Face of 5 Per cent Excise Duty
Recently at a stakeholders’ meeting in Abuja, organised by the Nigerian Communications Commission (NCC), the federal government disclosed her resolve to commence the implementation of five percent…
- 5 Jan 2022
FG Mulls VAT for Digital Services
Nigerians may have to pay more for digital services as the Federal Government has introduced a policy requiring foreign companies that provide digital services in the country to collect and remit…
- 21 Feb 2021
Shareholders Drag FG to Court over Plan to Borrow N158Bn Unclaimed Dividend
Shareholders have sued the government at Federal High Court of Nigeria, Abeokuta Division, seeking to restrain the government from going ahead with the plan to borrow the over N158 billion…
- 19 Apr 2026
FG Borrows N100Bn from Unclaimed Dividends, Dormant Bank Accounts
Federal government has recorded a N100 billion borrowing from unclaimed dividends and dormant bank accounts, as new data from the Debt Management Office (DMO) showed that funds warehoused under the…
- 17 Nov 2025
FG Lists Bank Charges Nigerians Will Stop Paying from January 2026
Nigerians won’t have to worry about the payment of five common bank charges again, as from January 2026, when the new tax laws come into effect. This was made known by Taiwo Oyedele, chairman of the…
- 18 Dec 2023
FIRS Directs Banks to Deduct EMTL on Foreign Currency Transactions
Federal Inland Revenue Service (FIRS) has directed deposit money banks to deduct and remit Electronic Money Transfer Levy (EMTL) on foreign currency (FCY) transactions going forward. The levy is in…
- 1 Dec 2025
Tax ID Numbers tot Required for Strictly Personal Bank Accounts
Tax Identification Numbers (TINs) are not required for strictly personal bank accounts under Nigeria’s new tax reforms; they become mandatory only if the account is used for business transactions,…
- 11 Aug 2022
FG Targets N484Bn from Stamp Duty Charges, Others
Federal government is set to make a total of N483.73bn in three years from electronic payment boom by way of the Electronic Money Transfer Levy, according to projection made by the Budget Office of…
- 9 May 2024
Presidential Committee Recommends another Hike in VAT
Presidential Committee on Fiscal Policy and Tax Reforms has recommended an upward review of the Value Added Tax (VAT) from the present 7.5 per cent. Taiwo Oyedele, chairman of the committee, also…
- 27 Jan 2020
FG Sets February 1 for Commencement of 7.5 Per cent VAT
Federal government will from Saturday (February 1) begin the implementation of 7.5 per cent Value Added Tax (VAT) espoused by the finance law. The law, according to the government, will take effect…
- 28 Jun 2020
Access Bank to Refund Stamp Duty Charges to Customers
Access Bank has offered to reverse the stamp duty charges paid by its customers from February to April. It also said deductions made between Saturday and Sunday would be reversed to customers. In a…
- 3 Oct 2025
Fiscal Policy and Tax Reforms Committee Clarify New Tax Reform Laws
The Presidential Fiscal Policy and Tax Reforms Committee has clarified some misconceptions surrounding Nigeria’s newly enacted tax reform laws. Speaking at engaged journalists, influencers, and…
- 2 Dec 2021
Postal Bill: NIPOST Assures of Efficient Services
Nigerian Postal Service (NIPOST) has said that the newly passed Postal Bill will revolutionalise the postal system and bring postal industry in line with international best practices. Franklin Alao,…
- 11 Mar 2021
FG Unveils Nigeria at 60th Commemorative Stamps
As the nation continues in the euphoria of attaining 60th independent anniversary, Dr Isa Ali Ibrahim Pantami, Minister of Communications and Digital Economy, on thursday, unveiled and launched two…
- 24 Apr 2025
Fintechs Add $18m to New Tax Initiative
The Nigerian federal government announced that the Electronic Money Transfer Levy (EMTL) generated $49.5 million in revenue, with fintech companies contributing $18 million. This fund, as reported by…
- 23 Sept 2024
Access Bank Hit with N100m Suit over Alleged Unlawful Deductions
Mr. Junaid Sanusi, a legal practitioner, has filed a lawsuit against Access Bank Plc, seeking N100 million in damages for allegedly making unauthorized deductions from his savings account. Appearing…