Business Tips

FIRS Resolves to Punish Banks over Tax Remittance Default

The Federal Inland Revenue Service (FIRS) has given a warning to banks that any bank that fails to forward tax collected from them public on their behalf would be punished accordingly.

The State Monitor, Government Business Tax Office, Mr. Akin Oluyide who said this while delivering a paper at a sensitization workshop on Tuesday, May 20, 2014, in Ibadan, said that banks which are found guilty of the offence would be charged with a huge interest and this interest depends on the duration at which the funds to be remitted is in their possession.

2013 Lagos Trade Fair: Why You Should Participate

Trade fairs are a high-impact method to disclose products, services and trends. Anywhere around the world, trade fair is a great stage for head to head, business-to-business communication for exhibitors and visitors from any branch of the industry.

Trade fairs provide an excellent opportunity to assess opinions from clients and determine market potential, conduct research and evaluate competition, develop commercial structures by identifying new agents and distributors, and initiating joint-ventures and project partnerships.

Lagos Trains Procurement Officers on New Framework

The Lagos State government has commenced a training session for all procurement officers deployed in various Ministries, Departments and Agencies (MDAs) of government in the State on the fundamentals of pre-qualification and framework contracting in public procurement.

The State said this was designed to broaden their knowledge on the use of the regulations and guidelines that will aid the implementation of the procurement law.

Apple Outstrips Coca-Cola as Most Valuable Brand

Apple is the new most valuable brand in the world, according to a closely followed annual report, monitored by the New York Times.

The report was released on Monday by Interbrand, a corporate identity and brand consulting company, owned by the Omnicom Group, that has been compiling what it calls 'the Best Global Brands report' since 2000. The previous No. 1 brand, Coca-Cola, fell to No. 3.

Finding the Right Talents –A Challenge for HR Managers?

The modern day business world has experienced a tremendous growth due to the spread of technology and globalisation. The business environment is now a level playing field for firms in terms of information, availability of finance and technology. Hence, the increased competition among firms has brought about the dependence of an enterprise on the human resources (HR). Human capital has become the key differentiator and competitive advantage among firms. Companies are now compelled to source for talents who will make a difference in the organisation.

Building A Teamwork Culture

Belonging to a team has a lot to do with your understanding of the mission or objectives of the organisation and how best to contribute your quota.

Too often, teams are formed merely by gathering some people together and then hoping that those people somehow find a way to work together. Conversely, teams are most effective when carefully selected. A Swahili proverb says “It is amazing how much people get done if they do not worry about who gets the credit.”

The Fastest Growing Brands In Nigeria

The latest research on the world’s fastest growing brands, by Millward Brown, a leading global research agency and brand consultant, established a cause-and-effect relationship between a brand’s ability to serve a higher purpose than its financial performance and size. In a similar fashion, MarkMonitor, a market research firm in Nigeria, has been steady on developing the list of top brands across different sectors.

Managing Personal Finance In Tough Times

Managing personal finance should be at the top of everyone’s priority. Making millions of dollars does not insulate anyone from insolvency. According to Money Crashers, a United States of America based financial advisory firm, “between 2008 and 2009, bankruptcy filings for those with more than $1 million in assets increased by 73%.” Sports collaborated this with a startling revelation that 78% of former National Football League (NFL) players go bankrupt within two years of retirement.

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