THE CABLE
Here are the seven top business news you need to track this week — July 10 to July 14.
LAGOS STARTUP WEEK
Lagos Startup Week, one of Nigeria’s most prominent tech festivals is set to hold on July 10, 2023 to July 15, 2023.
The festival seeks to inspire growth, produce unicorns and showcase the potential of a better Africa.
Trailblazers, decision-makers, and industry giants gather to exhibit ground-breaking products, demo new technologies and share inspiring thought leadership.
This is the chance to network with founders, investors, government officials, and technology providers and to accelerate your product, business, or idea.
NIGERIA’S JUNE INFLATION
The National Bureau of Statistics (NBS) is expected to publish a report on the consumer price index (CPI) for June 2023.
In May, the CPI, which measures the rate of change in prices of goods and services, rose to 22.41 percent up from 22.22 percent in the previous month.
The bureau also intends to release a report on energy and environmental statistics as well as the labour force report for 2022/2023.
FG SUSPENDS IMPLEMENTATION OF 2023 FINANCE ACT TO SEPT 1
President Bola Tinubu has signed four executive orders, including the suspension of the 5 percent excise tax on telecommunication services, as well as the excise duties escalation on locally manufactured products.
Dele Alake, special adviser to the president on special duties, communications, and strategy, said the president on Thursday signed the Finance Act (effective date variation) Order which deferred the commencement date of the Act from May 23, 2023, to September 1, 2023.
The president also signed the customs excise tariff amendment order to move its effective date from March 27, 2023, to August 1, 2023, in adherence to the 90-day advanced notice requirement outlined in the 2017 national tax policy.
Alongside the deferment orders, Tinubu suspended the 5 percent excise tax on telecommunication services and excise duty.
CBN WARNS BANKS AGAINST TRANSACTIONS WITH CAMEROON,VIETNAM
The Central Bank of Nigeria (CBN) says banks and other financial institutions must pay particular attention when conducting transactions with businesses and individuals in certain countries.
