Financial Literacy

Articles and analysis on Financial Literacy from a Nigerian perspective

How To Calculate Cost To Income Ratio?

  I am sure some of us who bother reading financial statement of banks may have come in touch with the phrase "Cost To Income...

How To Say “No” Diplomatically

Do you have trouble saying “No”? Many women and men are traditionally taught to avoid saying “no”, especially when facing authority figures. Some of...

Take Note: Importance Of Third party Auto Insurance

In Nigeria, third party auto insurance policy is compulsory because it protects car owners from losses caused by their cars on other people. Third party...

How To Get A Tax Identification Number (TIN) – Nigeria

I have been approached by some people looking to get a TIN for the companies. Thankfully, the Joint Tax Board has released ads detailing...

Wrist Watches As An Investment Option? N3Million Wrist Watch Worth 30% More In A...

I thought this was a remarkable piece if reporting from Buisnessday Nigeria. They report Nigerians are increasingly investing in Wrist Watches, just like you...

10 Typical Pre Qualification Documents Required for Tenders, RFP and LPO’s in Nigeria

Most Request For Proposals (RFP) and Tenders by Government and Private Enterprises typically ask for a set of documents from interested applicants. Whilst some...

This is how Nigeria determines its inflation rate

Every month we hear news about new inflation rate or data but have you ever wondered how it is calculated? I did and decided...

WHY “GET MY MONEY BACK” MAKES LITTLE SENSE

  Johnny had a brilliant business idea and decided to perform a personal feasibility study. On conclusion, he figured if he invested N5million in the...
Pension funds

Difference Between A Pension Fund Administrator And A Pension Fund Custodian

  PENSION FUND ADMINISTRATORS A Pension Fund Administrators in Nigeria are licensed to manage Pension Fund Assets on behalf of pension fund contributors. According to the...

Meaning Of Franked Investment Income

  SEC "Investment income on which tax has already been paid (usually deducted at source) and thus exempted from additional tax by the investor. Income...

Nigeria: Meaning Of A Commercial Paper, Bankers Acceptance

  The Central Bank defines a Commercial Paper (CP) as an unconditional promise by a person to pay to the order of another person a...

The Power Of Compounding Interest In Making Investment Decisions

In school we were taught simple interest as being Principal, Rate multiplied by Time divided by 100. Compound Interest on the other hand has...
How to avoid taxes in Nigeria - Tax remittances

Should I Pay Vat On Rent And When I Acquire A Property

Case Examples Mike recently "sold a piece of Land" he inherited from his father for ₦20M. On filing his taxes he was asked to remit...
How to avoid taxes in Nigeria - Tax remittances

How To Calculate Vat Remittances In Nigeria

Value Added Tax is an indirect form of taxation that is based on the consumption pattern of individuals and companies. In Nigeria VAT is...

How Nigerian Stock Exchange Indexes Are Calculated

  The Nigerian bourse began publishing The NSE 30 Index in February 2009with index values available from January 1, 2007. On July 1, 2008, the...
Revenues

How To Value Your Business Using Ebitda Multiple

Supposing you own a business that you have nurtured for years and finally now decided it was time to sell it or have some...

Taxation For Nigerian Musicians…..A Simple Guide

  In this blogpost we are going to get specific and take you through how taxation affects musicians and how best to avoid/reduce taxes. Remember...
What is capital allowance

What is Capital Allowance?

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

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 accounts of a company. It...

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 their banks. C.O.T charges are...

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 a huge difference between Interest...

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 of life that is as...
What is capital allowance

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, rather than a separate form...

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 Law. Head to the links below...

“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 Nigeria is not that difficult...
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Andela

Andela is laying off 420 engineers as it refocuses strategy

@Andela has just announced that it is letting go as many as 420 junior engineers across its operations in Nigeria, Kenya, and Uganda.
Trans-Nationwide Express Plc

With $1 million, a delivery startup could acquire Trans-Nationwide Express Plc 

It may even interest you to know that out of the 170 companies on the Nigerian bourse, only about six of them account for as much as 68% of the entire market capitalisation of the NSE.
Andela

Employers are already after the laid-off Andela engineers

Celestine Omin (@cyberomin), who once worked @Andela as a Technical Consultant and later @Paystack, has something for Andela's laid-off junior engineers.