The Central Bank of Nigeria has instructed banks to implement a cybersecurity levy on transactions, with exemptions outlined in a recent circular. The levy, aimed at enhancing cybersecurity measures, will commence two weeks from the circular’s date. Commercial, merchant, non-interest, and payment service banks are among those directed to comply …
Read More »Kaduna shuts Telecom companies, others over tax default
The Kaduna State Internal Revenue Service (KADIRS), has taken decisive action against tax defaulters across the state. Acting under the authority vested in it by Section 104 of the Personal Income Tax Act, KADIRS sealed up several business premises and telecommunication masts for unpaid taxes. According to a statement signed …
Read More »NPA Seeks Patronage For Eastern Ports as Onne gets new Large Vessel
By Abraham Amah The Onne Port Complex of the Nigerian Ports Authority (NPA) achieved another milestone on Saturday by successfully berthing a container vessel named MV KOTA CEMPAKA, boasting a Length Over All (LOA) of 300 meters. This accomplishment underscores NPA’s capability and preparedness to handle large ships efficiently in …
Read More »NDIC Increases Deposit Insurance Coverage to N5m
By Abraham Amah In a move aimed at enhancing depositor protection and strengthening the financial sector, the Nigeria Deposit Insurance Corporation (NDIC) has announced adjustments to the Maximum Deposit Insurance Coverage for banks operating in the country. During a press briefing held in Abuja, NDIC’s Managing Director, Bello Hassan, disclosed …
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