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Amarachi Orjiude and Sami Olatunji, Abuja
Published 25 June 2021
Amarachi Orjiude and Sami Olatunji, Abuja
Published 25 June 2021
The World Bank has said Nigeria can generate N600bn annually by increasing the excise duties on tobacco and alcohol as recommended in the National Development Update report.
A Senior Tax Specialist of the bank, Rajul Awasthi, said this on Thursday at a virtual discussion on domestic revenue mobilisation.
According to him, Nigeria has one of the lowest excise duty rates on tobacco and alcohol in Africa, and the duty rate on cigarettes is lower than the standard set by the Economic Community of West African States.
Ex-FIRS officials re-arraigned over N4bn for tours not performed
Lesi Nwisagbo and Amarachi Orjiude, Abuja
Published 24 June 2021
Published 24 June 2021
The Economic and Financial Crimes Commission has re-arraigned two ex-directors and top officials of the Federal Inland Revenue Service on allegations of fraud.
The EFCC re-arraigned the officials on Wednesday at the Federal High Court sitting in Abuja.
Justice Bolaji Olajuwon, who presided over the case, adjourned the matter to September 28 for trial.
Recall that
The PUNCH had earlier reported that the matter was previously before Justice Ijeoma Ojukwu, who was transferred to the Calabar Division of the court.
As a result of the transfer, the matter was to start afresh before Justice Olajuwon.
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Amarachi Orjiude and Sami Olatunji, Abuja
Published 16 June 2021
Amarachi Orjiude and Sami Olatunji, Abuja
Published 16 June 2021
While the Governor of Ekiti State, Kayode Fayemi, said on Tuesday that the removal of fuel subsidy will benefit poor Nigerians, financial experts argued that it would bring about increased hardships.
Fayemi, while addressing journalists after the launch of the Nigerian Development Update by the World Bank in Abuja, said there was a need for proper communication on the economic status of the country.
“Nigeria is not this boundlessly rich country. We are wealthy in several other respects. Our human capital is a source of strength. But in terms of this naira and kobo, we are not a rich country, and we need to do more to communicate that to the population in our country,” he said.
Nike Popoola, Temitayo Jaiyeola, Solomon Odeniyi and Amarachi Orjiude Published 16 June 2021The total value of agricultural import exceeded export by N503bn in the first three months of the year.Statistics obtained from the National Bureau of Statistics showed that the total trade in agriculture was N757.4bn in the first quarter of the year.The report put the export component at N127.2bn and the imports at N630.2bn in the period under review.The.