BUSINESS

FG denies plans to increase VAT, others

Daily Dispatch November 5, 2020

The Federal Government has refuted speculations it plans to increase the Value Added Tax (VAT) and other taxes in its proposed Finance Bill. Minister of Finance, Zainab Ahmed, who spoke while defending the Ministry’s budget before the Senate Committee on Finance in Abuja, dismissed the claims

BUSINESS

Over 100 Airlines Die In Nigeria In 20yrs Due To Unfavourable Operational Environment – Operator

Daily Dispatch November 4, 2020

No fewer than 100 airlines have closed shop in the Nigerian aviation industry in the past 20 years due to high charges and unfavourable operating environment, Capt. Edward Boyo, the Managing Director of Overland Airways has said. This is as Sen. Hadi Sirika, the Minister of Aviation has insisted that lack of corporate governance, poor […]

BUSINESS

FG generates N424.71bilion VAT in Q3 2020 – NBS

Daily Dispatch November 3, 2020

The National Bureau of Statistics (NBS), says the Federal Government generated N424.71 billion as Value Added Tax (VAT) in the third quarter (Q3) of the year as against N327.2 billion generated in the second quarter (Q2). NBS made this known in its “Sectoral Distribution of Value Added Tax Data for Q3 2020”, released on Monday […]

BUSINESS

CBN Canvasses Economic Diversification, Urges Banks To Accept Jewellery As Collateral From Farmers

Daily Dispatch November 1, 2020

In a bid to make agriculture and manufacturing sectors the mainstay of the national economy, the Central Bank of Nigeria (CBN) has charged Financial institutions in the country to accept jewellery and motor vehicle particulars as collaterals for loans from smallholder farmers. The have Acting Director, Corporate Communications, CBN Osita Nwanisobi gave the charge over […]

BUSINESS

Why Khan cannot be MD now – Jaiz Bank

Daily Dispatch November 1, 2020

Jaiz Bank Plc has explained why Mr. Shaheed Khan cannot be Managing Director of the Bank yet. Managing Director of the bank, Mallam Hassan Usman, told journalists on Sunday in Abuja that Khan had only a three year conditional offer, which the Central Bank of Nigeria (CBN) did not agree to. According to Mallam Hassan […]

BUSINESS NEWS

CBN releases guidelines for N75b Nigeria Youth Investment Fund

Daily Dispatch October 29, 2020

The Central Bank of Nigeria (CBN) has released guidelines for implementation of the proposed N75 billion Nigeria Youth Investment Fund (NYIF). CBN’s Development Finance Department, stated that the fund was a built-in strategy to effectively respond to the challenge of youth employment in Nigeria. The Fund, an initiative of the Ministry of Youth and Sports […]