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CBN directs payment of dollar receipts in naira

July 13, 2023. Azonuchechi Chukwu. From the Central Bank of Nigeria (CBN) yesterday came a directive to International Money Transfer Operators (IMTOs): pay dollars received through Diaspora remittances to domestic beneficiaries in naira. A circular to banks, IMTOs and the public by CBN Director, Trade and Exchange Department, O.S Nnaji, listed 62 approved IMTOs to | ....

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FG Rejects Flour Mills, Flutterwave's Applications for Tax Holiday


Oluchi Chibuzor
The federal government has declined applications from 10 companies seeking pioneer status under the industrial development Income Tax Relief Act (IDITRA).
This is according to the Nigerian Investment Promotion Commission (NIPC) report on Pioneer Status Incentive (PSI) applications for the first quarter of 2021 (Q1 2021).
The PSI is a tax holiday that grants qualifying industries and products relief from payment of corporate income tax for an initial period of three years, extendable for one or two additional years.
According to NIPC, the pioneer industries eligible for this tax incentive are agriculture, mining and quarrying, manufacturing, electricity and gas supply, waste management, construction, trade, information and communication, professional services, financials, and administrative services. ....

Oluchi Chibuzor , Envoy Hotel , Echostone Development Nigeria , Nigerian Investment Promotion Commission , Flutterwave Technology Solutions , Fountain Manufacturing Company , Super Packaging , Income Tax Relief Act , Pioneer Status Incentive , Al Hamsad Rice Mill , Benchmark Constructions , Super Packaging Limited , Royal Foam Products Nigeria , Flour Mills , Benchmark Constrictions , Fountain Manufacturing , Pan African Towers , African Foundries , Aarti Rolling Mills , Princess Medi Clinics Nigeria , Medlog Logistics , Dangote Sinotrucks West Africa , Honeywell Flour Mills , தூதர் ஹோட்டல் , நைஜீரியன் முதலீடு ப்ரமோஶந் தரகு , முன்னோடி நிலை ஊக்கத்தொகை ,