NESG Warns Against Cybersecurity Levy Impact on Financial Inclusion
The Nigerian Economic Summit Group (NESG) has raised concerns over the Federal Government’s proposed 0.5 percent cybersecurity levy, stating it could undermine efforts to achieve 95 percent financial inclusion by 2025. In a recent report, the NESG criticized the timing of the levy,
FCT-IRS Enforces Closure of School, Hotel, and Businesses Over Unpaid Taxes
The Federal Capital Territory Internal Revenue Service (FCT-IRS) has taken decisive action against tax evasion by sealing off several establishments, including a hotel, a school, and three business premises in Abuja. Led by Mr. Festus Tsavsar, Acting Director of Legal Services at FCT-IRS,
Airtel Africa Reports $1.7 Billion Losses Amid FX Crisis in Nigeria, Malawi
Airtel Africa, a leading telecommunications provider on the continent, has reported significant financial losses totaling $1.7 billion attributed to the foreign exchange crisis in Nigeria and Malawi. The company revealed the extent of its losses in a recent financial statement, highlighting the adverse
Ebenezer Olufowose Resumes as Chairman First Bank as Tunde Hassan-Odukale Concludes Tenure
Following the completion of his tenure, Mr. Tunde Hassan-Odukale, the former chairman of First Bank of Nigeria Limited, has passed the baton to Mr. Ebenezer Olufowose, marking a significant transition in the leadership of the esteemed institution. The announcement was made by FBN
CAC Enforces CBN’s Order on PoS Registration Amid Operator Resistance
The Corporate Affairs Commission (CAC) has taken a firm stance to enforce the Central Bank of Nigeria’s (CBN) recent directive regarding the mandatory registration of Point of Sale (PoS) operators across the country. This move, in line with Section 863 of the Companies
Binance CEO Accuses Nigerian Government of Mistreatment and Abuse of Power
In a recent development, Richard Teng, CEO of Binance, has spoken out against what he perceives as mistreatment of his company’s officials by the Nigerian government. The situation escalated after Nigerian authorities detained two Binance executives on allegations of utilizing Binance assets to
