COVID-19: FG BEGINS TRANSFER OF N20,000 TO POOR HOUSEHOLD

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NDIC Begins Verification Of Peak Merchant Bank Depositors April 26

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The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits. The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6. The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri. NDIC said that depositors can also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification. According to the News Agency of Nigeria (NAN), the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.he Corporation said that depositors can also send email to its designated email address claimscomplaints@ndic.gov.ng. NDIC guarantees the payment of deposits up to the maxi...
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Things To Know From UBA's Financial Report

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  According to the report of the United Bank For Africa (UBA) has 43.5 percent growth in profit after tax to N170.3 billion in 2022 on the back of 17.5 percent and 69.0 percent increase in interest income and non interest revenu e  UBA Bank  The interest of the bank income grew from 17.5 percent to N557.2 billion, net trading and foreign exchange income grew to N72.2 billion while net fee and commission income also increased by 27 percent to N128 billion  "We attribute the former to an elevated yield environment as management was able to reprice its interest-earning assets accordingly.  The bank's non-interest revenue was supported by an increase in trading income," the analysts at Cardinal Stone said in a note  The shareholder's fund of UBA's Group rose to N922.1 billion as at  December 2022, it achieved a growth of 14.6 percent, compared to the prior year  In response to the result, Oliver Alawuba, UBA's CEO, said notwithstanding the tight and c...
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Almost 100percent Cryptocurrency Investor Fail To Pay Tax In 2022

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  According to the report of a company that provides tax software for cryptocurrency traders and investors, last year's estimates give that o nly 0.53% of crypto investors globally paid tax on their crypto. Since then global cryptocurrency market continues to grow, and governments find it easy to work toward the use of regulating its usefulness,  but if investors find it difficult to pay their tax makes it difficult for governments to regulate them effectively, but the rise of digital currency has led to the development of various tax policies. It was made known that the report covers the tax policies of 38 countries with the strength and weaknesses of each country is necessary.  According to the research shown the country that has the highest payment of tax rate on cryptocurrency is Finland while the Philippines has the lowest.  As of last year, investors in the US declared their crypto tax to their authorities an estimated of 1.62percent, which makes them the 10th ...
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