The Central Bank of Nigeria reduced the interest rates on the CBN intervention facilities from 9% to 5% per annum for one-year effective March 1, 2020, as part of measures to mitigate the negative impact of COVID-19 Pandemic on the Nigerian economy. Credit facilities, availed through participating banks and OFls, were also granted a one-year moratorium on all principal payments with effect from March 1, 2020.
Most whistleblowers find themselves on the firing line for turning the spotlight on unethical practices, especially when their identity is given away by the recipients of their reports. Consumed with the fear of victimization and job loss, an employee who could have blown the whistle on an unethical practice may decide to turn a blind eye to such misconduct.
In accordance with Section 41 of the Personal Income Tax Act (PITA) (as amended), all taxable persons are required to file a return of claims and income from every source (earned and unearned income) for the year preceding the year of assessment, with the relevant tax authority (RTA).