Insurance and reinsurance companies have raised alarm over multiple penalties for same infraction by regulatory authorities in Nigeria. Commissioner for Insurance, Alhaji Mohammed Kari, disclosed this at the just concluded National Insurance conference organised by all the arms of the sector and the Commission in Abuja. He said that insurance companies have expressed the burden […]
Federal Government yesterday, said that the recently-launched Voluntary Assets and Income Declaration Scheme (VAIDS) will attract over $1 million into the nation’s coffers. Speaking during a sensitization workshop on the scheme organised by PricewaterhouseCoopers (PWC) in Lagos, Minister of Finance, Mrs Kemi Adeosun, said that the Federal Government has a target of about $1 billion […]
The Federal Government Thursday revealed that the planned revamping of the Port Harcourt refinery would cost the country about $300 million. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, made the disclosure at a sitting of the Senate Ad-hoc Committee on “the planned concession of the Port Harcourt Refinery to Agip/Eni and Oando Plc.” […]
The federal government has resolved to take critical steps to advance leather production in Nigeria, the Minister of Science and Technology, Dr Ogbonnaya Onu, has said. Onu spoke on Thursday in Abuja at the matriculation of trainees and inauguration of Nigerian Institute of Leather Science and Technology (NILEST), North Central Leather cluster extension centre as […]
The Federal Operations Unit (FOU) Zone “A”, the anti-smuggling unit of the Nigerian Customs Service, NCS, raked in over N229 million between June 13 and July 10, 2017. Controller of the zone, Mohammed Garba, said in a media briefing in Lagos that, it impounded various contraband goods with Duty Paid Value, DPV, worth N200,995,641.8 within […]
A French court ruled on Wednesday that Google was not liable to pay 1.1 billion euros ($1.3 billion) in back taxes demanded by the French authorities. The Paris administrative court ruled that Google Ireland Limited was not subject to corporate and value-added taxes for the period 2005-2010, striking down the tax administration’s demands for back […]
KIA Motors, Korea International Corporation Agency (KOICA) and Kogi State are to partner on reviving Technical and Vocational Education Training (TVET) in the state. The partnership follows a meeting between Kogi State Governor, Alhaji Bello Yahaya, KOICA Country Director/Regional Representative, Sook Hyun Park, and KIA (Dana Motors Limited) Vice President, Olu Tikolo, on a possible […]
Lagos State Governor, Mr Akinwunmi Ambode, has identified the need for residents to adopt a willful approach to the payment of taxes as a means of addressing fundamental challenges confronting the state and accelerating development in all sectors and sections. Speaking at a sensitisation workshop on 2017 Water Technology and Environmental Control Exhibition and Conference […]
The Federal Executive Council on Wednesday approved the issuance of promissory notes for the settlement of debts owed local contractors worth N740 billion. The Minister of Finance, Mrs Kemi Adeosun, gave the hint while addressing newsmen after the Federal Executive Coucil meeting, adding that debts to GENCOS, DISCOs and state governments stood at N193.69 billion. […]
The Postmaster General of the Federation, Mr Bisi Adegbuyi, has called for the amendment of postal laws to separate regulation from operation to enhance the development of the postal sector. He made the call on Wednesday in Abuja in his address at the Senate Public Hearing on the Nigerian Postal Service Act 2004. He said […]