The Senate has initiated a move to restore Nigeria’s monetary sovereignty by prohibiting the use of foreign currencies for payments and transactions within the country. EKO HOT BLOG reports that this effort aims to ensure that all financial transactions, including salaries, are conducted in naira. The proposed ban would cover not only local workers but … Read more
The FG urges Nigerian businesses to utilize the ECOWAS Trade Liberalization Scheme (ETLS) to enhance exports. ETLS offers access to a market of over 400 million consumers in 15 ECOWAS member states, aiming to boost economic integration and trade. Nigeria has 946 enterprises with over 10,000 products. EKO HOT BLOG reports that the the Federal Government … Read more
No Proposed Increase in VAT Rate Input VAT Credit for Businesses Suggested Basic Goods and Services to be VAT-Exempt Eko Hot Blog reports that, addressing concerns raised by media reports, the Federal Government has clarified its position on Value Added Tax (VAT) reforms. Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax … Read more