Fakoyejo Olalekan, Author at Prime Business Africa

PWC Raises Concern About Traders, FIRS’ VAT Direct Initiative

PWC Raises Concerns About Traders, FIRS’ VAT Direct Initiative

The Federal Government has been advised by PricewaterhouseCoopers’s (PWC) Africa tax leader, Taiwo Oyedele, to monitor the Value-added tax Direct Initiative (VDI) to prevent tax collectors from exploiting traders. Recall that Prime

Fakoyejo Olalekan

2 years ago

Business·Markets

Wema Bank, BUA Cement, Others Cost Stock Market Investors N672bn

Wema Bank and BUA Cement are part of the stocks that dragged the Nigerian stock market capitalisation down by N672.02 billion on Tuesday. Following selloffs in these equities, including Lasaco, and PZ,

Fakoyejo Olalekan

2 years ago

Naira Gains More As Exchange Rate Drops To N1,300/$1 At Official Market

Business·Currency·Insights

Will Tinubu’s Foreign Exchange Policy Reform End Black Market Activities?

As of March 2023, Nigeria was one of 24 countries with multiple foreign exchange markets, housing the official and black markets, both of which have a premium gap. The countries with active

Fakoyejo Olalekan

2 years ago

Business·Oil & Gas

Shell Petroleum Directors Meet Tinubu Over Investments After ExxonMobil Visit

President Bola Tinubu and a delegation from the Shell Petroleum Development Company (SPDC) met over Nigerian investments and his government’s policy reforms. Tinubu told the Shell Petroleum delegation, led by the firm’s

Fakoyejo Olalekan

2 years ago

Forex Market Turnover Rises By 42.69% To $14.39bn

Business·Currency

Dollar Rates Fall In Official Window, Up In Black Market, To Affect Fuel Price

At the close of trading in the official market on Monday, foreign exchange traders exchanged the United States Dollar (USD) at N741.50/$1. This was below the N769.25/$1 rate the authorised dealers sold

Fakoyejo Olalekan

2 years ago

Tinubu Writes NASS, Seeks Approval For N500bn Subsidy Removal Palliatives

Business

FG To Tax 40million Market Traders In Informal Sector

The Federal Government has decided to tax the 40 million market traders under the informal sector group, the Market Traders Association of Nigeria (MATAN). According to the Federal Inland Revenue Service (FIRS)

Fakoyejo Olalekan

2 years ago

Business·Markets

Stock Market Investors In Nigeria Pocket N534bn After Trading

Investors closed trading in the Nigerian stock exchange with N534.01 billion gain on Monday, pushing the bourse’s capitalisation to N33.73 trillion, having settled at N33.19 trillion last week Friday. This was disclosed

Fakoyejo Olalekan

2 years ago

Tinubu Pays Tribute To First FCT Minister, Late Mobolaji Ajose-Adeogun

Business

FAAC Committee Reveals FIRS, NNPC, NUPRC Yet To Remit N1.6trn To Federation Account

Over N1.6 trillion is yet to be remitted by the Nigeria National Petroleum Company (NNPC) Limited, Federal Inland Revenue Service (FIRS) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) into the Federation

Fakoyejo Olalekan

2 years ago

NNPC Doesn’t Have Fuel To Sell – Oil Marketers’ Depot Chairman Says

Business·Oil & Gas

Fuel Prices To Drop, As Oil Marketers Begin Importation On Credit

The prices of fuel in Nigeria will drop in the coming weeks, as products imported by the major oil marketers are set to arrive in the country next week. According to the

Fakoyejo Olalekan

2 years ago

Business

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

The World Bank has disclosed that the money supply in Nigeria will drop due to President Bola Tinubu’s decision to remove fuel subsidy. This was disclosed in the international financial institution’s June

Fakoyejo Olalekan

2 years ago

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Fakoyejo Olalekan

PWC Raises Concerns About Traders, FIRS’ VAT Direct Initiative

Wema Bank, BUA Cement, Others Cost Stock Market Investors N672bn

Will Tinubu’s Foreign Exchange Policy Reform End Black Market Activities?

Shell Petroleum Directors Meet Tinubu Over Investments After ExxonMobil Visit

Dollar Rates Fall In Official Window, Up In Black Market, To Affect Fuel Price

FG To Tax 40million Market Traders In Informal Sector

Stock Market Investors In Nigeria Pocket N534bn After Trading

FAAC Committee Reveals FIRS, NNPC, NUPRC Yet To Remit N1.6trn To Federation Account

Fuel Prices To Drop, As Oil Marketers Begin Importation On Credit

World Bank: Fuel Subsidy Removal To Reduce Money Supply In Nigeria, Raise Inflation Rate

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