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The Central Bank of Nigeria has said it will sanction banks that are caught engaging in malpractices in their foreign exchange transactions.   “In line with our continuing close surveillance of our financial markets generally and the FX market in particular, the CBN wishes to remind all banks that it is their responsibility to not […]

The Central Bank of Nigeria said on Saturday it has no plans to convert holdings in domiciliary accounts into Naira, explaining that the story making the rounds on social media was fake.   “We wish to reiterate that the Bank has not contemplated, and will never contemplate, any such line of action. The speculation is […]

The current war on the implementation of the Value Added Tax in Nigeria obviously is the prelude to Fiscal Federalism in the country. This principle has been at the root of calls for restructuring Nigeria’s political arrangement in such a way that allows regions or the federating units to have control over resources domiciled in […]

It is perhaps trite to say never in the history of Nigeria have there been acts more shocking in violence and cruelty than the carnage that Boko Haram continues to perpetrate against innocent citizens. It is, therefore, appropriate to say never has there been a greater need for the Nigerian government to re-assert its control […]

Following the controversy surrounding the loss of lives at Lekki Tollgate during the,   A forensic company, Sentinel Forensic Limited, has declared that the live ammunition used during the EndSARS protest on Friday, October 20, 2020 at the Lekki Tollgate were discovered to have been registered to the Nigerian Army.   This declaration was made […]

…as Appeal Court Asks parties to maintain status quo   The Lagos State Governor, Mr Babajide Sanwo-Olu, has signed into law the state Value Added Tax Bill.   With this, Lagos joins Rivers State which has also signed a VAT law that authorizes the state to collect the consumption tax, instead of the current practice […]

The Federal Government has denied any links between its  planned  109 Integrated Farm Estate  in all the senatorial zones in the country and Ruga or ranches.   This clarification came from the Executive Secretary of National Land Development Authority (NALDA), Mr Paul Ikonne, who announced the plan last week. He said that President Muhammadu Buhari […]

  The battle for revenue derivation principle in Nigeria rose to a higher pedestal on Thursday as the Lagos State House of Assembly passed the Value Added Tax Bill.   The Speaker, Mudashiru Obasa directed the Acting Clerk of the House, Mr. Olalekan Onafeko, to transmit a clean copy to Governor Babajide Sanwo-Olu for assent. […]

  President Muhammadu Buhari, who paid a one-day visit to Igboland on Thursday, said he could not imagine a situation where an Igboman would want to opt out of Nigeria.   Buhari spoke at a town hall meeting in Owerri with the leadership of the people of the South-East, as part of his visit to […]