CBN Extends Stamp Duty Collection To Savings Accounts

Banks are no longer restricting the deduction of stamp duty on deposits made into current accounts, but now apply it to deposits made into savings accounts, investigation has shown.The Central Bank of Nigeria had through a circular issued on January 15, 2016 directed the Deposit Money Banks to deduct N50 stamp duty on each deposit made into current accounts with...

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Customs Seizes Jollof Rice, Ogbono And Egusi Soup Imported From India

The Tin-Can Island Command of the Nigeria Customs Service (NCS) has intercepted a 20ft container of “READY TO EAT FOODS’’ like Egusi Soup, Jollof Rice, Ogbono, Yam Porridge imported from India.The Customs Area Controller, Comptroller Bashar Yusuf, disclosed this in a statement made available to newsmen on Monday in Lagos by the Public Relations Officer of the Command,...

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10 Categories Of People That Will Regret Their Lives If MMM Crashes

[i] The Mavrodi Mondial Moneybox, also know as MMM, is a mutual fund scheme that has been driving a lot of Nigerians crazy due to the quagmire state of the nation. However, everyone invests in it for purpose of receiving 30% profit after 30 days without knowing that the devil sometimes gives you a shoe with the left hand and collects your leg with the right hand....

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Lagos Emerges Fifth Largest Economy In Africa

Lagos State has emerged as the fifth largest economy in Africa, consequent upon which, Governor Akinwunmi Ambode, disclosed that his administration is in the process of setting up an Economic Management Team, EMT, comprising distinguished individuals from the private sector and the public sector to manage and improve the feat.Ambode spoke on Tuesday at the Lagos...

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Nigeria To Establish A Development Bank

The Permanent Secretary at the Ministry of Finance, Mr Mohammed Dutse, says Nigeria is considering establishing a Development Bank. Mr Duste said the government is looking at boosting the economy with the bank, considering its benefits. “It will help provide funds to operators of small businesses in Nigeria at low interest rates,” he said. On how the project will be implemented, he explained that there would be a screening committee to look at...

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Fire Destroys Shops And Houses At Bariga (New Garage) Lagos (Pics, Video)

Around 6am, fire broke out in some electronic shops located at New Garage, Bariga, Lagos. A facebook user uploaded the video on his page. It reportedly affected a lot of shops and even some houses. Residents in the area fought to contain the spread of the fire but goods worth millions of naira were still destroyed. Fire Service were able to control and subdue the fire when...

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