The Federal Inland Revenue Service (FIRS) under Zacch Adedeji has experienced a massive transformation with an innovative approach with a human face.
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US Treasury chief to speak with China counterpart as tensions flare
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New tax law replaces reliefs with rent-based deductions, capped at N500k
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Prices of rice, tomatoes, other food items soars as retailers struggle with unpredictable costs
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Big win for naira: CBN announces $8.6bn FX turnover as dollar inflows surge, reserves hit new high
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Finally, relief for naira: Nigeria’s reserves hit 5-year high amid global uncertainty
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US tightens controls on advanced chips to curb flow to China
The United States unveiled further export controls Wednesday on advanced computing semiconductors, boosting due diligence requirements for businesses as it seeks to prevent diversion of tech to China despite existing restrictions.
US bans red food dye over possible cancer risk: health authorities
Outgoing US President Joe Biden's administration on Wednesday announced a ban on Red Dye No 3, a controversial food and drug coloring long known to cause cancer in animals.
TikTok plans total US shutdown as ban deadline looms: report
Social media giant TikTok plans to completely shut down its operations in the United States this Sunday if a ban ordered by legislators goes through as planned, a report said. The apparent shutdown comes as TikTok faces a January 19 legislative deadline to sever ties with its Chinese parent company ByteDance or cease US operations.
US consumer inflation rises to 2.9 percent in December
US consumer inflation rose for a third straight month in December as energy prices rose, according to government data published Wednesday, adding pressure on the Federal Reserve to pause rate cuts.
Nigeria’s inflation rate hits 34.80%, as NBS site comes back online one month after hack
NBS CPI report shows that Nigeria's headline inflation has hit 34.8%, about 0.20% higher than the 36.6% from the previous month. Food inflation also declined
German economy shrinks again amid political crisis
Germany's economy shrank for a second straight year in 2024, official figures showed Wednesday, with little hope of a speedy recovery as Europe's traditional powerhouse is also mired in political crisis. Fears are growing that the economy will struggle to get back on its feet this year, due in part to the political crisis at home.
Spain hosted record 94 mn foreign tourists in 2024
A record 94 million foreign tourists craving for sun, sand and culture flocked to Spain in 2024 as the sector drives the country's bullish economy, the tourism minister said on Wednesday. Spain therefore continues to break records," Industry and Tourism Minister Jordi Hereu said in Madrid.
BP nears deals for oil fields, curbs on gas flaring in Iraq
Iraq and British oil giant BP are set to finalise a deal by early February to develop four oil fields in Kirkuk and curb gas flaring, Iraqi authorities announced Wednesday. BP is one of the biggest foreign players in Iraq's oil sector, with a history of producing oil in the country dating back to the 1920s when it was still under British mandate.
Beijing 'firmly opposes' US ban on smart cars with Chinese tech
Beijing on Wednesday said it "firmly opposes" a US move to effectively bar Chinese technology from smart cars in the American market, saying alleged risks to national security were "without any factual basis".
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