News

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.

The increased lending suggests that commercial banks may be experiencing lower liquidity rates.

Zambia loses $3B annually due to mining tax evasion, with weak enforcement and low royalty rates limiting revenue.

The company’s revenue increased from ₦80.4 billion in 2023 to an impressive ₦129.1 billion in 2024.

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.

The CBN governor disclosed plans to strengthen banks and the FX and set up a compliance department to promote accountability in the banking industry.

Nigeria’s tax system must adapt to global changes, with reforms needed to boost resilience and reduce reliance on trade.

Kenya’s debt payments consume 61% of tax revenue, limiting funds for development and economic growth.

With institutional investors opting for safe, high-yield, government-backed Treasury bills, there could be telling effects on Nigeria’s private sector

Seplat faces $37.5M tax evasion charges, raising concerns about its financial transparency and reputation.

The CBN has introduced its “fully developed in-house” digital solutions -DocFlow and MDAs Naira Payment Solution.

As at December, 2024, the MPR stood at 27.50%, up from 18.75% in January of the same year.

The Fayda ID project has enjoyed funding from the World Bank and European Union to the tune of $350 million and €100 million respectively.

The CBN has fined nine Nigerian banks with a fine of ₦150 million each following their failure to make available cash for customers in their ATMs during the Christmas holidays.

Banks resist Nigeria’s windfall tax over double taxation concerns, sparking debates on tax reforms and economic growth.

Kenya tops Africa’s startup funding in 2024 with $638M, outshining Nigeria as funding drops across the continent.

LIRS leverages technology to simplify tax compliance, making it faster, cheaper, and more efficient for taxpayers.

Guaranty Trust Holding Company (GTCO) has completed the first round of its equity capital program, raising ₦209.41 billion.

South Africa faces a R3B tax loss as wealthy individuals leave, impacting businesses, luxury markets, and increased tax revenue.