BUSINESS

FG plans to inflict more hardship on Nigerians, to hike VAT

Daily Dispatch May 9, 2024

The Presidential Committee on Fiscal Policy and Tax reforms has recommended an upward review of the Value Added Tax (VAT). Chairman of the committee, Taiwo Oyedele, also suggested that the VAT revenue-sharing formula would be reviewed. He spoke at a policy exposure and impact assessment session

BUSINESS

2023: $1.09bn Paid By Shell Nigeria In Taxes, Royalties 

Daily Dispatch May 9, 2024

Shell exclusively paid a total of $1.09 billion in corporate taxes and royalties to the Government of Nigeria last year through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo.)  The figures, announced in the just published 2023 Shell Briefing Notes, […]

BUSINESS

NNPC Ltd Committed to Building Huge Oil, Gas Infrastructure to Make Sector Thrive – Eyesan

Daily Dispatch May 8, 2024

The Nigerian National Petroleum Company Ltd (NNPC Ltd) says it will continue to invest in the development of huge oil and gas infrastructure to make it easy for operators and prospective investors to carry out their business in Nigeria. The Executive Vice President, Upstream, Mrs. Oritsemeyiwa Eyesan, disclosed this at the ongoing Offshore Technology Conference […]

BUSINESS

Again, NNPC Ltd Cautions Against Panic Buying   …Says 30-Days PMS Sufficiency Intact

Daily Dispatch May 8, 2024

As the nationwide supply and distribution of Premium Motor Spirit (PMS), also known as petrol, continue to improve, the Nigerian National Petroleum Company (NNPC) Limited has once again called on motorists to shun panic buying of the product. The Chief Corporate Communications Offficer of the NNPCL, Olufemi O. Soneye gave the warning in a statement […]

BUSINESS

Nigerians to start paying 0.5 percent on e-transfers

Daily Dispatch May 7, 2024

The Central Bank of Nigeria (CBN) has directed banks and other financial institutions to implement a 0.5 percent cybersecurity levy on electronic transfers. This is contained in a circular signed by Chibuzor Efobi, director of payments system management and Haruna Mustafa, director of financial policy and regulation on Monday. The directive was issued to commercial, […]

BUSINESS

Union Bank Achieves Another Milestone; Attains MSECB ISO 27001:2022, 20000-1:2018 and 22301 Certifications

Daily Dispatch May 6, 2024

Union Bank, one of Nigeria’s foremost and most trusted financial institutions, has announced another significant achievement with its attainment of the MSECB management system certifications in ISO/IEC 27001:2022, ISO 22301:2019, and ISO/IEC 20000-1:2018. The Bank was awarded these three noteworthy certifications by MSECB, a leading international provider of audit and