Nigerian tax administrator, the Federal Inland Revenue Service (FIRS) said during the weekend that it generated 5.007 trillion naira ($32 billion) for the Federal Government in the 2012 fiscal year. According to an official statement, the 3-tiered tax body said the funds exceeded the government’s 3.635 trillion naira-tax target for the year, adding that it was...
TO reposition itself in 2013, the Enugu state chapter of the National Association of Microfinance Banks (NAMB), has actually partnered with Stanbic IBTC and AppZone, a leading modern technology company in the nation on the use of BankOne financial option for the MFBs. The organization is on a purpose to change the state’s microfinance sector and face several...
The Nigerian Government through its Ministry of Communications Technology has launched an innovation program, “Tech Launch Pad.” Targeted at technology entrepreneurs, the program is focused on addressing 4 key challenges i.e. skills, quality, relevance and funding, facing software companies. Interventions which the innovation programme will provide within each...
Oprah Winfrey has actually dropped her long-held title as the most affluent black woman world wide to a Nigerian oil mogul, according to a document by an African company journal. Eloping Oprah is Folorunsho Alakija, a 61-year-old woman from Nigeria that is allegedly worth a minimum of $ 3.2 billion, or approximately $ 500 million better than Oprah’s $ 2.7 billion...
Barack Obama’s decision to nominate Dartmouth College President Jim Yong Kim to head the World Bank has been well received. The prevailing view is that Kim is a smart solution to a tricky little problem: How to maintain a strong U.S. role in the bank while bowing to the growing economic might of developing nations such as China. I don’t think so. First and foremost, the appointment of Kim, a U.S. citizen, would perpetuate the indefensible custom by which an American heads the World Bank and a European runs the International Monetary...
Abiodun John, a Nigerian national living in the Uk, is standing trial man in Guildford Magistrates’ Court in the nation after trying to get access to the baml account of users of Saad al Hilli’s loved ones who were killed in the French Alps on September 3. The 33-year-old was charged with scams however Surrey Police could not confirm whether the accounts...
Today November 6th, South Africa has presented brand-new notes bearing the image of 94 year aged anti-apartheid forerunner and the country’s initial black chief of state, Nelson Mandela. The new 10, 20, 50, ONE HUNDRED as well as 200 rand banknotes include Mandela’s picture on one side and the other side keeps the Large Five animals already on the expenses. Mandela...
In the month of November, FORBES will publish its annual official ranking of the 40 richest people in Africa. A lot of research has gone into the making of this list and this year, we’ve uncovered several hidden holders of wealth across the continent. Many of them are names you’ve probably never heard. In the coming days, this author will list at random, ten relatively...
VTNETWORK RECEIVES FINAL LICENSE TO ROLLOUT VCASH MOBILE PAYMENT SERVICE FOR ALL NIGERIANS – 160 MILLION POPULATION VCASH — DESIGNED FOR THE UNBANKED AND BANKED ALIKE SOPHISTICATED HYBRID SOLUTION BUILT FOR NIGERIA VCASH NO LONGER AN EXPERIMENT, TARGETS 10,000 AGENTS BY 2013 OCTOBER 03, 2012: ABUJA, NIGERIA | The Central Bank of Nigeria (CBN) has provided its...
One of the primary causes for offering the cashless project by the Central Bank of Nigeria, CBN, was to transform the method monetary transactions are conducted. With Nigeria being a high money based society where most transactions involve the using of raw cash, the target was to involve individuals in e-payment alternatives. However the missing link was the best...
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