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Tax

Fortis Global Insurance Back To Era Of Unprofitability

Why Fortis Global Suffered N2.59bn Loss In H1 — Despite Revenue Rising By Over 1,000%

August 26, 2026

Fortis Global Insurance generated revenue of N1.09 billion between the first quarter (Q1) and the second quarter (Q2) of 2026, surpassing the N59.56 million recorded during the corresponding period the year before.

Business News·Top Stories

56% Increase In Income Tax Eats Into NEM Insurance’s Profit Of N14.85bn

June 30, 2025

NEM Insurance reported its revenue for the first quarter (Q1) of 2025 was N46.05 billion, surpassing the N29.03 billion generated in Q1 2024, indicating an increase of 58.63 percent. However, the increase

Linkage Assurance's Revenue Rises To N19.29bn, Profit Drops By 23%

Business News·Top Stories

Linkage Assurance Records N6bn Revenue, Tax Burden Affects Profit Growth

May 29, 2025

Linkage Assurance reported 18 per cent growth in its insurance revenue for the first quarter (Q1) of 2025, after recording N6.05 billion, against the N5.12 billion posted in the corresponding period in

Telcos Threaten To Stop USSD Services Over ‘Misinformation’ On Billing By Banks

Africa

Kenya Introduces Mandatory IMEI Declaration For Mobile Devices Starting January 2025

November 6, 2024

From January 1, 2025, travellers including tourists and citizens entering Kenya, as well as importers and assemblers of mobile devices, will need to declare the International Mobile Equipment Identity (IMEI) numbers of

Enugu Govt Imposes Taxes On Dead Bodies In Mortuary

News

Enugu Govt Imposes Mortuary Taxes On Dead Bodies

October 13, 2024

Enugu State government has imposed taxes on dead bodies in mortuaries. This was disclosed in a circular signed by the Executive Chairman, Enugu State Internal Revenue Service (ESIRS), Mr Emmanuel Ekene Nnamani.

Naira Appreciates, Ends Week Positive Across Official, Black Markets

Business News·Finance & Economy

Social Contract, Economic Reforms And The Drive For $1 Trillion Economy

October 3, 2024

At a public function in Lagos two weeks ago, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, gave startling revelations on the weaknesses and inadequacies of our

Obi Reacts To Poor Performance In 2025 UTME, Calls For Aggressive Investment In Education

Politics

Cybersecurity Levy: Nigerian Govt Milking A Dying Economy – Obi

May 8, 2024

Presidential candidate of the Labour Party in the 2023 general election, Mr Peter Obi, has criticised the latest decision of the Nigerian government to impose a cybersecurity level on electronic transactions, saying

Business News

CITN Advocates Action On UK-Nigeria Bilateral Tax Agreements

November 3, 2023

Chartered Institute of Taxation of Nigeria (CITN) has underscored the importance of raising awareness and advocacy for effective implementation of bilateral treaties between the United Kingdom (UK) and Nigeria, especially those pertaining

Presidential Committee Proposes Tax On Unofficial Forex Transactions

Business News·News

Ease Of Doing Business: Nigerian Govt Plans Slashing 62 Taxes To 9

October 11, 2023

Mr. Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reforms has revealed plans by the Tinubu administration to reduce Nigeria’s current web of 62 taxes to a mere nine, in

Business News

Ghanaian Gov’t Moves To Enforce $773 million Fine On MTN

January 17, 2023

Ghanaian tax administrator, Ghana Revenue Authority (GRA), has slammed MTN with GHS8,209,603,842.14 ($773 million based on dollar rate) fine for failing to declare the true state of its revenue. It was gathered that

Business News

Soft Drink Prices To Rise, Jobs At Risk Over FG’s 20% Tax, As Producers Lament

November 22, 2022

The Manufacturers Association of Nigeria (MAN) has warned that Nigerians will be affected by the proposed 20 per cent Ad-valorem Excise Tax on non-alcoholic beverages. According to the association, companies will have

Business News·Finance & Economy

New Tax Will Collapse Soft Drinks Sector – Manufacturers

November 18, 2022

The carbonated soft drinks sub-sector of the Manufacturers Association of Nigeria (MAN) has raised the alarm over Federal Government’s proposed 20 per cent ad-valorem excise tax on non-alcoholic beverages. The new policy

Editorial·News

Double Whammy In NDIC, AMCON Travesty For Banks

February 7, 2022

If the Asset Management Corporation of Nigeria (AMCON) is a going concern and would continue to buy bad loans and bad banks, what then is the need for NDIC, given the overlapping

Finance & Economy

FIRS Resumes Taxation On Bonds, Short-term Govt Securities

February 2, 2022

THE Federal Inland Revenue Service (FIRS) has commenced collection of income tax on bonds, short-term government securities.

Business News

LCCI Reacts To FG’s New Tax On Carbonated Drinks

January 7, 2022

The Lagos Chamber of Commerce and Industry (LCCI) has kicked against the newly-introduced excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages by the federal government. LCCI explained that the newly-imposed excise

Business News

Finance Bill: Our Tax System Must Work For Every Nigerian – FIRS

December 14, 2021

The Federal Inland Revenue Service (FIRS) has disclosed that the 2021 finance bill will enable an efficient tax system that will work for every Nigerian. Muhammad Nami, executive chairman FIRS, made this

Finance & Economy·News

FIRS Kicks Against VAT Collection By States

September 9, 2021

FEDERAL Inland Revenue Service (FIRS), has objected to the idea of states collecting Value Added Tax (VAT) in Nigeria.

News

Lagos Govt Seals Chinese Firm, Others For Refusing To Pay Tax

July 20, 2021

Lagos State Internal Revenue Service (LIRS) has sealed a Chinese firm and 15 other hospitality firms for failing to meet up with their tax submission deadline. The affected companies which include a

Finance & Economy·News

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Tax

Why Fortis Global Suffered N2.59bn Loss In H1 — Despite Revenue Rising By Over 1,000%

56% Increase In Income Tax Eats Into NEM Insurance’s Profit Of N14.85bn

Linkage Assurance Records N6bn Revenue, Tax Burden Affects Profit Growth

Kenya Introduces Mandatory IMEI Declaration For Mobile Devices Starting January 2025

Enugu Govt Imposes Mortuary Taxes On Dead Bodies

Social Contract, Economic Reforms And The Drive For $1 Trillion Economy

Cybersecurity Levy: Nigerian Govt Milking A Dying Economy – Obi

CITN Advocates Action On UK-Nigeria Bilateral Tax Agreements

Ease Of Doing Business: Nigerian Govt Plans Slashing 62 Taxes To 9

Ghanaian Gov’t Moves To Enforce $773 million Fine On MTN

Soft Drink Prices To Rise, Jobs At Risk Over FG’s 20% Tax, As Producers Lament

New Tax Will Collapse Soft Drinks Sector – Manufacturers

Double Whammy In NDIC, AMCON Travesty For Banks

FIRS Resumes Taxation On Bonds, Short-term Govt Securities

LCCI Reacts To FG’s New Tax On Carbonated Drinks

Finance Bill: Our Tax System Must Work For Every Nigerian – FIRS

FIRS Kicks Against VAT Collection By States

Lagos Govt Seals Chinese Firm, Others For Refusing To Pay Tax

FIRS rakes in historic N650bn profit in June

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