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PBA Reporter

CBN Owes Goldman Sachs, JP Morgan $7.5bn, Releases Financials Amid Probe

CBN Releases Guidelines On Bank Neutral Cash Hubs

The Central Bank of Nigeria (CBN) has released guidelines for setting up Bank Neutral Cash Hubs (BNCHs). The CBN, in a statement, noted that the BNCHs are being initiated in furtherance of its mandate to promote a sound financial system in Nigeria,
June 2, 2022
Tax

FIRS Moves After States Over Failure To Remit Tax Deductions

The Federal Inland Revenue Service (FIRS) disclosed its readiness to begin process of enforcement and recovery of unremitted tax deductions owed by some states and local governments. The FIRS, in a statement on Wednesday, noted that it would advise the federal government and the
June 1, 2022
Godwin Emefiele

CBN Retains 5% Interest Rate For Power Sector, Others

The Central Bank of Nigeria (CBN) has agreed to leave interest rates at five per cent per annum for critical sectors and manufacturing industries until March 2023. Prime Business Africa learnt that the decision followed the resolution of the Monetary Policy Committee
June 1, 2022
IMF

Debt Servicing May Gulp 100% Of FG’s Revenue By 2026 – IMF

The International Monetary Fund has disclosed that debt servicing may gulp 100 per cent of the Federal Government’s revenue by 2026 if the government fails to implement adequate measures to improve revenue generation. The IMF’s Resident Representative for Nigeria, Ari Aisen, made
May 31, 2022
Chairman of the FIRS Mr. Muhammad Nami

FIRS Demands Tax Compliance Approval For Holding Political Offices

The Federal Inland Revenue Service (FIRS) has asked that tax compliance should be a prerequisite for clearing aspirants to contest elective positions. Muhammad Nami, executive chairman, FIRS and chairman, Joint Tax Board (JTB) made the recommendation at a meeting with the Independent National Electoral
May 27, 2022
CBN Denies Discriminating Against People With Physical Disabilities Seeking Job

MAN, LCCI React As CBN Raises Lending Rate To 13%

The Manufacturers Association of Nigeria, the Lagos Chamber of Commerce and Industry, and the Nigerian-American Chamber of Commerce, have reacted to the hiking of the monetary policy rate by the Central Bank of Nigeria. They disclosed that the policy will hurt the
May 26, 2022
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