latest
House Of Representatives To Pursue 5,000 Companies With N5.2 Trillion Unpaid Taxes
House Of Representatives To Pursue 5,000 Companies With N5.2 Trillion Unpaid Taxes....KINDLY READ THE FULL STORY HERE▶
The House of Representatives has directed its committees to launch an investigation into the failure of some businesses operating in Nigeria to remit N5 trillion to the Federal Government…….CONTINUE READING
This decision stems from a motion presented by Esosa Iyawe during Thursday’s plenary session, prompting the House to take action against tax defaulters.
The House has tasked the Committees on Public Account and Finance with scrutinizing the non-remittance by these organizations and ensuring the recovery of the owed funds.
In his motion, Iyawe highlighted that 5,000 companies have amassed a total debt of N5.2 trillion between 2015 and 2019, with additional reports indicating a further N17 billion non-remittance in 2021 alone.
He emphasized the significance of addressing this issue, especially considering the substantial amounts owed by both multinational corporations and government agencies. Iyawe also raised concerns about the preferential treatment given to multinational corporations compared to small businesses facing multiple tax obligations.
The motion received unanimous support from the House, leading to the committees being directed to provide a report on their findings within four weeks.
During an interview on Channels Television’s ‘Politics Today’, former minister Rotimi Amaechi dismissed recent comments made by FCT Minister Nyesom Wike regarding his selection as a running mate, stating that he does not respond to subordinates and noting that Wike never employed him.....KINDLY READ THE FULL STORY HERE▶
Additional context regarding the political exchange includes:
-
Wike’s Remarks: During a media briefing, Wike alleged that Amaechi’s selection was financially motivated rather than strategic, questioning his electoral viability and political influence post-2011.
-
Amaechi’s Response: Maintaining that he is currently focused on mourning, Amaechi indicated that he intends to respond more forcefully once his campaign activities officially begin.
During an interview on TVC News, former Lagos State Peoples Democratic Party (PDP) chairman Deji Doherty disputed claims that Chief Olabode George is a founding father of the party, asserting instead that George was introduced into the party’s leadership by former President Olusegun Obasanjo around 1999.....KINDLY READ THE FULL STORY HERE▶
-
Criticism of Leadership: Doherty argued that Obasanjo’s decision to entrust the management of the Lagos State PDP chapter to George was a mistake and that the affairs of the state branch were poorly handled.
-
Internal Party Crises: Displaying reconciliation documents during the broadcast, he noted that past efforts by respected party elders to resolve internal party disputes have failed to secure long-term peace.
-
Call for Youth Empowerment: Doherty emphasized that the ongoing leadership struggles should pave the way for a younger generation to take charge of the nation’s political future, regardless of party affiliation.
-
Parallel (Black) Market Rates: According to Bureau De Change (BDC) sources in Lagos for Tuesday, August 4, 2026, the parallel market traded the US Dollar at a buying rate of ₦1,410 and a selling rate of ₦1,425.....KINDLY READ THE FULL STORY HERE▶
-
-
Official CBN Rates: Central Bank of Nigeria figures recorded rates ranging from a low of ₦1,361 to a high of ₦1,364.
Key Advisory Notes
-
Regulatory Stance: The CBN does not officially recognize the parallel market and advises individuals engaging in foreign exchange transactions to utilize authorized banking channels.
-
Price Variance: Actual market transaction rates may differ across various dealers and locations due to continuous market fluctuations.
-
-
latest12 months ago“Social Media Erupts As Jim Iyke Declares Rita Dominic Nollywood’s Most Beautiful”
-
latest2 years agoEdo Political Showdown: Oshiomhole Appears At Presidential Villa As Tinubu Hands APC Gubernatorial Flag To Okpebholo (Photos & Video)
-
entertainment2 years agoLove Knows No Age American Woman Defends Marriage To Young Nigerian Man “I’m Not 70”
-
latest2 years agoOlumide Akpata Strikes Again: Drops Killer Track, Sends Edo State Into Frenzy!(Video)
-
Politics3 years agoNigerians React As Pastor Adeboye Foresees Passing Away On A Sunday After Enjoying A Satisfying Meal Of Pounded Yam
-
latest2 years agoFG Identifies 31 States At Risk Of Heavy Flooding In 2024: See Full List
-
Politics3 years agoBREAKING: Inspector-General Of Police Summons Top Police Commanders For Crucial-Security Challenges
-
latest2 years ago5 NYSC Corpers Perish In Fatal Road Accident Returning From Camp