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Electricity tariff hike, withholding tax gazetting… business stories to track this week

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Here are the seven top business stories you need to track this week — July 8 to July 12.

Aderonke OniTaiwo Oyedele, chairman of the presidential committee on fiscal policy and tax reforms,the newly approved withholding tax regulation will be published in the official gazette “in the coming days”.

The apex bank said it will not hesitate to impose strict sanctions on banks reported to have rejected naira deposits from the public, under any guise.Also, on July 2, CBN warned banks and authorised foreign exchange dealers against rejecting old series and lower denominations of dollars.

In a statement on July 3, the cryptocurrency platform said the deduction of the VAT would be effective from July 8.

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NERC transfers regulatory oversight of Imo electricity market to state governmentThe Nigerian Electricity Regulatory Commission (NERC) has issued an order transferring regulatory oversight of the electricity market in Imo to the state's electricity regulatory commission (ISERC).
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