CATEGORY: SME TOOLS

Should the NHF be scrapped?

The National Housing Fund (NHF) was set up in 1992 via a decree to provide a source of funding...


A – Z of Cash-less Lagos

For those who don’t know cashless Lagos commenced April 1 2012. From then on withdrawals or deposits in excess...


How to avoid paying taxes in Nigeria

Tax like they say is the only constant thing in life along with rain. Tax is a statutory obligation...



What is an HMO?

An HMOis an acronym for a “Health Maintenance Organisation” in Nigeria. They are companies mandated solely to manage the...


What is Capital Allowance?

Capital Allowance is a claim against Assessable Profits by companies when computing their tax liabilities. It is only calculated when...


How much is a Nigerian Bank authorized to charge me as fees & interest rate?

At some point in time there may be a need for you to request for a loan or an...


What is B.O.J (Best of Judgement Assessment) in Nigerian Tax?

A B.O.J otherwise known as a Best of Judgement Assessment is a tax assessment procedure conducted by Tax Authorities on the...


What is C.O.T?

C.O.T is a commonly used abbreviation for Commission on Turnover. It is a charge levied on customer withdrawals by...


Why Interest cannot be paid on an unpaid debt?

I came across an interesting Legal report on Interest Charged in Simple Contract Claims which explains that there is...


How to monetize road traffic reports

Sometime in 2010, I decided I had had enough of Lagos traffic and decided I had to tackle it...


Second Hand Underwear Business is very profitable

Nigeria is indeed a Funny country. I read somewhere recently that the second clothing business, popularly called, okrika is...


Deduct Withholding Taxes from invoices? This is who you pay to

Ok! I know I have been blogging so much about tax lately but then I believe its an area...


How to negotiate out of a bad loan

Every now and then I meet people howling about their debt burden and how it’s making life difficult for...


How to buy a business in Nigeria

Buying a business in Nigeria is common place as everyday people for several reasons decide to discontinue their present...


Taxes and Levies collected by Local Governments in Lagos

If you own or manage a business in Lagos, then I am sure you must have at one time...


What to do with all the withholding tax deducted from your invoice!!!

Withholding Tax is often  viewed erroneously as a separate form of tax. Withholding tax is basically an advance payment of  income tax,...


Akara Sellers to get P.O.S machines?

At the CBN briefing today (October 27th 2011) on their ‘Cashless Policy” set to take off by Jan 2012,...


Nigeria – How to obtain an Income Tax Clearance Certificate for your company

In this discourse I am going to take you through a practical way of obtaining a tax clearance certificate...


How To Calculate Your Taxes In Nigeria

*NOTE: The article for the above post is now outdated following the 2011 amendment of the Personal Income Tax...


“I Need A Car Loan” (How To Get A Car Loan In Nigeria)

Mike: Hi Ugo I need a car loan how do i get one? Ugo: Getting a car loan in...