If you are trying to get pregnant after age 50, you will likely need some fertility help. While it's not impossible to become...
The Nigeria equities market opened this week on a positive note, helping to sustain preceding trading day’s gain. The shares of largest cement maker...
There is yet brighter prospects for Nigeria’s fiscal position as oil closed higher Thursday amid expectations that recovering demand from...
These skills can be learned through training or on the job development to secure your future as a sought after
Ahead of the release of inflation figures on Thursday by the National Bureau of Statistics, the FSDH Research, an arm of the FSDH Merchant Bank Limited...
The merger announcement between Access Bank and Diamond Bank set off alarm bells in the financial services sector. Prior to then, there had been...
SEGUN ADAMS
Concerned industry professionals in education sector have described the performance of Adamu Adamu, the minister of education, in the last....
Local content; how to encourage production and patronage of local content is probably one of the most talked about subject in Nigeria’s Information Communication Technology (ICT) sector.
Owolabi Mercy is one of Nigeria’s energetic and hardworking young entrepreneurs. She is a baker, caterer, mixologist and chief executive...
The economy ministry is drawing up a new strategic plan to boost development focusing on attracting foreign investment, facilitating the growth of small- and…
We believe that everyone is accountable for team outcomes, regardless of how much each member contributes. Shared team accountability puts an end to finger-pointing when something goes wrong and is the tangible that brings teams together.
Activist shareholders, emboldened by recent successes, have shattered previous records in 2018 by targeting the largest number of companies ever...
Smartphones are getting more sophisticated with in-built cameras that could rival most traditional cameras. Storage has also been getting...
The Federal Government through the Central Bank of Nigeria, has imposed stamp duty of N50 on bank customers for money received into their accounts. Consequently, bank customers will henceforth pay N50 stamp duty for money received into their accounts via electronic transfer, cash and cheques. This order was contained in a circular to all Deposit Money Banks and Other Financial institutions titled, Collection and Remittance of statutory charges on receipts of Nigeria Postal Service under the Stamp Duties Act”. The CBN stated: “As part of efforts to boost its revenue base, the federal government of Nigeria is exploring revenue opportunities in the non-oil sectors especially taxes and rates. It is in recognition of this fact that banks and other financial institutions are enjoined to support government’s revenue drive through compliance with the provisions of the Stamp Duties Act, LFN 2004 as reinforced by the court judgement in Suit No FHC/L/CS/1710/2013. In this regard, the CBN pursuant to the provisions of its enabling laws, hereby issues this circular to all DMBs other financial institutions: With immediate effect, all DMBs and other financial institutions shall commence the charging of N50 per eligible transaction in accordance with the provisions of the Stamp Duties Act and Federal Government Financial Regulations 2009, that is, all receipts given by any bank or other financial institution in acknowledgment of services rendered in respect of electronic transfer and teller deposits from N1, 000 and above; “For all avoidance of doubt the following receipts are however exempted from imposition of stamp duties: payments of deposits or transfer by self to self whether inter or intra bank; and any form of withdrawals/transfers from saving accounts; It should be noted that these charges are only payable by receiving accounts; “Each DMB shall open an account designated as NIPOST Stamp Duties Account into which all charges collected shall be paid. The balances in such accounts shall be transferred monthly by the DMBs to CBN NIPOST Stamp Duty Collection Account No. 3000047517; “Other financial institutions shall remit their Stamp Duty collections to any DMB of their choice.”
Philippe Jabre was the quintessential swashbuckling trader, slicing his way through markets first at GLG Partners and then an eponymous hedge fund he ...
Trading activities on the floor of the Nigerian Stock Exchange (NSE) turned bearish for the fourth consecutive trading session Monday
To ensure that consumers and vehicle inspection officers were able to verify vehicle insurance across different parts of the country with or...
Following a proposed merger and acquisition deal between Access Bank and Diamond Bank which promised shareholders of the latter N3.13, shares of...
MultiChoice Nigeria, foremost video entertainment company has introduced a business plan that will enable its subscribers on DStv and GOtv pay for a lower bouquet but enjoy services on higher bouquet. This lasts for only three months – January 15 to April 15, 2019.
As schools reopen for another session following the Christmas and New Year festivities, Stanbic IBTC Bank PLC, a member of Stanbic IBTC Holdings PLC...
In his contribution, Peter O. Ewesor, managing director/CEO, NEMSA & Chief Electrical Inspector of the Federation, stated that revamping/calibrating their
Nigeria’s private companies are adopting several measures to hedge their businesses against the potential fallout from the rise of COVID-19...
The Vice President, Yemi Osinbajo has advised people of the country to be more committed to national unity and democratic development.
Analysts at the bank say that natural gas is an energy source that could be part of the Energy Transition. The report identifies five key...
The equities market sustained the bullish trend which started in Thursday’s trading following increased interest in market bellwether stocks and
Barely a week after Edo State governor, Godwin Obaseki, visited the site that will host the 55 megawatts CCETC-Ossiomo Power plant in Ologbo...
Organizations working to increase employee engagement have a powerful key at their disposal: manager accountability.
Five Nigerian businesses made substantial progress and investments in recent times on the back of the Federal Government’s Economic Recovery...
African Leadership University, the Mauritius-based institution with an ambitious goal to train the continent’s future leaders, has...
Two years ago, Brian and Anne Bates had just purchased 75 acres of land near Petoskey, Michigan, with a loan from their parents. They had no house, no barns, no structures of any kind other...
By Yinka Kolawole As controversy still surrounds the proposed Grazing Reserves Bill of President Muhammadu Buhari led-Federal Government to the National Assembly, a human rights activist and Execut…
Wall Street is following European equity markets downwards as the positive glow from this week’s US-China trade negotiations fades and...
China has asked officials to stop mentioning its premier programme to recruit the brightest tech talent from overseas, after growing suspicions over the...
CBN To curb restiveness in the Niger Delta region, the Central Bank of Nigeria (CBN), has organised agricultural and small medium en...
“There is no market for even the investors,” said Thomas Pelletier Thomas Pelletier, managing director, CFAO Nigeria. Next is cost
Positives for the merged (Access/Diamond) entity Low valuation If you believe that Nigerian banks or at least the largest
“Why would they stay in a country where the outcomes of elections are uncertain? Recall that this is election period
By Dipo Olowookere Investors reacted negatively to the inflation figures released on Wednesday by the National Bureau of Statistics (NBS) for May 2022, deciding to sell off after learning that the consumer price index increased by 17.71 per cent from 16.82 per cent in April 2022. The persistent profit-taking further pushed the Nigerian Exchange (NGX) Limited southwards by 0.64 per cent at the close of transactions, with investor sentiment remaining weak as 11 stocks appreciated in price, while 26 equities depreciated in value. The financial services sectors were the most impacted yesterday and they erased the gains achieved by the
