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Business And Money

Nigerian Businesses Lost N10trn To Twitter Suspension –

Nigerian businesses lost a whopping N10.72 trillion ($26.1billion) between June 5, 2021 to 13th January 2022, during the seven-month shutdown of Twitter operations in Nigeria, the Lagos Chamber of Commerce & Industry (LCCI) said yesterday. This is as the group commended the federal government for...

FG: Amazon, AliExpress to pay 6% tax on profits made from Nigerian customers

The federal government says non-resident companies (NRC) are mandated to remit 6% of turnover from digital services provided to Nigerian customers. Advertisement An NRC is a company not registered or incorporated in Nigeria but makes profits or income from Nigeria. They include Amazon, AliExpress, Twitter, Zoom...

Coke, Fanta prices to increase as FG imposes N10/litre excise duty on carbonated drinks

The federal government has introduced an excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages. Excise duty is a form of tax imposed on the production, licensing and sale of goods. Zainab Ahmed, minister of finance, budget and national planning, said this during the...

Nigeria’s Inflation Rate May Be Among World’s Highest In 2022 – W/Bank

The World Bank has said Nigeria may have one of the highest inflation rates globally in 2022, with increasing prices diminishing the welfare of Nigerian households. According to the World Bank, Nigeria is projected to have one of the highest inflation rates globally and the...

Meet Nigerian Tech Startups That Raised $1.12bn In 2021

2021 wrapped up as a year when foreign investors saw tech startups in the country as viable platform to invest. Nigerian tech startups have attracted an increased number  of foreign investors who led funding valued at over $1,125,025,000 in 2021. Infact in 2021, some Nigerian tech startups...

Ghana Central Bank Ahead Of CBN In Digital Payment Systems – Sanusi

A former Governor of the Central Bank of Nigeria (CBN) and the 14th Emir of Kano, Muhammadu Sanusi II, has said that Bank of Ghana (BoG) was the leading central bank in the sub-region with regards to the use of technology in the financial...
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