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Payroll tax scandal exposes flaws in Africa’s PAYE system
Bento Africa’s tax scandal exposes PAYE system flaws, corporate governance issues, and risks of outsourcing payroll.
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Airtel and MTN’s East African mobile money operations under investigation
The COMESA, a regional trade bloc covering 21 African countries, has launched an investigation on Airtel, MTN, over misleading IMT charges
Nigeria extends forex access for currency traders until May 2025
The extension is granted to meet retail market demand for FX for eligible invisible transactions.
Nigeria’s taxation faces challenges as corporate profits rise by ₦1.66 trillion
Nigerian firms report ₦1.66 trillion in profits for 2024, raising questions about tax revenue and compliance.
How banking, oil boom will shape the NGX in 2025
In 2025, analysts predict the NGX will witness bullish oil and banking stocks, and FX headwinds. Will market resilience hold, or will volatility shape the year
NAICOM’s ALM directive to insurance companies to strengthen annuity business in Nigeria
Where the insurance company does not have an in-house actuary, it is to employ the services of an external actuarial firm to carry out its ALM responsibilities for a period of not more than 2 years.
SLF rises in October 2024, cast doubt on liquidity of Nigerian banks
The increased lending suggests that commercial banks may be experiencing lower liquidity rates.
Tax implications of digital investment platforms: Risevest’s SEC scrutiny
Risevest’s SEC scrutiny highlights tax and regulatory challenges for digital investment platforms and investors.
Zambia loses $3billion as mining giants dodge taxes
Zambia loses $3B annually due to mining tax evasion, with weak enforcement and low royalty rates limiting revenue.
Despite improved revenue, high costs lead to Cadbury Nigeria’s ₦10.7 billion loss
The company’s revenue increased from ₦80.4 billion in 2023 to an impressive ₦129.1 billion in 2024.
CBN’s FX code to spur market participants to higher operational standards
This is in furtherance with the CBN’s plans to remove Nigeria from the FATF’s grey list. It has already achieved 37 out of the 40 requirements of the FATF.
Richards Bay exports reach 52 million tons, but challenges remain
Richards Bay coal exports rise to 52M tons in 2024, but challenges like low coal prices and infrastructure remain.