in CITEC INT L ESTATES LTD v. INT L INC &
ASSOCIATES
Sounded a Final Death
Knell?
Introduction
With the transformation of the world into a global
village, the need to conduct cross-border businesses has become
inevitable with increased growth in global trade and investments.
Under Nigerian law however, a foreign company may not carry on
business in Nigeria without incorporation. Elsewhere, the opinion
has also been expressed that transactions involving foreign
companies is one taxable under the Value Added Tax (VAT) Act.
2 What
therefore makes carrying on business on the one hand
without incorporation illegal and the transaction so conducted
subject to tax? In this article, we examine the Supreme Court
Introduction
The evolution of the Internet has changed the world in many
ways. Physical (traditional) operations and daily interactions have
over time been supplemented, overshadowed or totally supplanted by
online versions riding on the back of developments in information
and communication technology (ICT), and consequent migration into
cyberspace. ICT has become, within a very short time, one of the
basic building blocks of modern society, forcing and creating a
culture of dependence on innovative technology.
1 The Fourth
Industrial Revolution (4IR) is characterised by a fusion of
technologies and they have blurred the lines between the physical,
digital, and biological spheres.
Share
THE Academic Staff Union of Universities (ASUU) on Wednesday, December 23 announced that it has conditionally suspended the national strike action it commenced in March. It has been a long nine months, beating all previous strike records of six and seven months held by ASUU. Let us agree to call the just ended strike, the ASUU Coronavirus Strike or the ASUU COVID-19 Strike. It tallies well with the global realities of a year-long pandemic for which 2020 would always be associated and it would probably qualify as ASUU’s contribution to the science of the virus. However, it has also come in good time as a Yuletide gift to Nigerian students, specifically, and the nation at large. I have patiently waited for this day when either the strike would be called off or “suspended” or when the Federal Government would wield a big axe in the interest of Nigeria’s university education. It seems that ASUU won and the nation lost. To placate ASUU and arrive at this agreement, the gove
The official gazette giving authority to the revocation of the license was signed by the CBN Governor, Mr. Godwin Emefiele.
The CBN relied on the Banks and other Financial Institutions Act (BOFIA) Cap B3, Laws of the Federation of Nigeria 2004 to exercise its authority.
The CBN said entities ceased to carry on in Nigeria the type of businesses for which their incenses were issued for a continuous period of six months.
The gazette said they failed to fulfil or comply with the conditions imposed upon them by the CBN in accordance with the provision of BOFIA Act, 2004.
CBN revokes seven payment service providers licences thenationonlineng.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationonlineng.net Daily Mail and Mail on Sunday newspapers.