News Blog Sep 19, 2024

How Cybersecurity and Data Privacy Drive ESG Strategies in Nigerian Businesses

Nigeria’s digital economy is rapidly expanding. According to the National Bureau of Statistics (NBS), the Information and Communication Technology (ICT) sector contributed about 16.2% to Nigeria’s GDP in Q1 2023. As more companies leverage digital platforms to enhance operations and customer experiences, the volume of personal data collected, stored, and shared has soared.

News Blog Sep 19, 2024

The Legal Propriety of Ungazetted Acts or Regulations in Nigeria

Law-making in Nigeria is strictly the primary function of the legislative arm of government, whether at federal or state level.  This funct...

News Blog Aug 28, 2024

The Future of Consulting: Predictions for the Next Decade

As we navigate through an era marked by rapid technological advancements, evolving business models, and shifting global dynamics, the consulting...

News Blog Aug 27, 2024

Doing Business in Nigeria: Corporate Bank Account Opening & Anti-Money Laundering Compliance

Opening a corporate bank account is a crucial step for anyone looking to do business in Nigeria. Not only is it a legal requirement, but it also...

News Blog Aug 27, 2024

Doing Business in Nigeria: Setting Up an Accounting System

Setting up a robust accounting system is essential for any business, especially in a dynamic market like Nigeria. Just as you wouldn't build...

News Blog Aug 27, 2024

Doing Business in Nigeria: Labour Matters

Understanding the intricacies of labour laws is essential for anyone engaged in business operations in Nigeria. Whether you're an employer o...

News Blog Aug 22, 2024

FinTech: Credit Management as a Pathway to Profitability

Nigeria's FinTech industry has experienced rapid growth, with over 200 FinTech companies now operating in the country, collectively valued a...

News Blog Aug 19, 2024

Our Journey to the CBD: A Milestone in Stransact’s Growth

In 2009, Stransact Chartered Accountants began its journey in a modest a...

News Blog Jul 31, 2024

Are the Potential Rewards of High Debt Worth the Risks for Your Business?

In the dynamic world of business and finance, companies often leverage debt to fuel their growth, expand operations, and invest in new opportuni...

News Blog Jul 16, 2024

Should You Be Worried About Multinationals Leaving Nigeria? Eben Joels Weighs In

Eben Joels, Managing Partner, of Stransact Chartered Accountants in this interview with Akanbi Festus and Adedayo Adejobi, spoke on wide-ra...

News Blog Jul 15, 2024

Comprehensive Review: Deduction of Tax at Source (Withholding) Regulations 2024

The Federal Ministry of Finance, through the office of the Honourable Minister for Finance and Coordinating Minister for the Economy, recently i...

News Blog Jul 08, 2024

Nigeria's New Withholding Tax Regulations Explained

In an exclusive interview with The Nation newspaper's Ibrahim Apekhade Yusuf, Victor Athe, partner at Stransact (Chartered Accountants), cor...

News Blog Jul 03, 2024

Leveraging the Employee Compensation Act for Worker Safety in the Oil and Gas Industry

The Nigerian economy is significantly driven by the oil and gas sector, which generates substantial income and employment opportunities. However...

News Blog Jul 03, 2024

How Multiplicity Of Taxes, Levies Hinder Businesses In Nigeria

Eben Joels, a managing partner at Stransact Chartered Accountants and Audit, discusses tax reforms in Nigeria, President Bola Tinubu's one-year administration, and what the federal government must do to put the country on a path of progressive growth and socio-economic development.

News Blog Jun 24, 2024

Charting a Course for Nigeria's Economic Future

Eben Joels is the Managing Partner at Stransact Chartered Accountants and Audit, the exclusive RSM correspondent firm in Nigeria. In this interv...

News Blog Jun 20, 2024

Tax Incentive and Private Equity Growth: The Nigerian Outlook

Private equity is ownership or interest in entities that aren’t publicly listed or traded. A source of investment capital, private equity ...

News Blog Jun 13, 2024

Nigeria’s Banking Crisis: The Role of CBN, Economic Impact & Lessons Learned

On January 10th, 2024, the apex bank dissolved the boards and management of Union Bank, Keystone Bank, and Polaris Bank, citing non-compliance w...

News Blog May 30, 2024

Risk-Based Auditing for Nigerian Non-Profit Organisations: Enhancing Accountability and Effectiveness

Non-profit organizations (NPOs) play a vital role in Nigeria's social fabric, addressing critical issues like poverty alleviation, education...

News Blog May 23, 2024

Accounting for VAT in Manufacturing Industry: Cashflow and Compliance Challenges

The manufacturing industry is a vital part of the Nigerian economy. Based on the sectoral distribution of Value Added Tax (VAT) released by the ...

News Blog May 08, 2024

Understanding Employee Share Based Compensation Taxes for Employers & Employees in Nigeria

This article aims to bridge this gap by providing a comprehensive review of the tax implications of ESBC in Nigeria, empowering both employees and employers.

News Blog Apr 29, 2024

Why Nigerian Taxpayers Suffer Low Tax Morale — Victor Athe

Victor Athe, Partner, Tax Services, Stransact Chartered Accountants discusses in an interview with The Vanguard newspaper why Nigerians are...

News Blog Apr 26, 2024

Taxing Times: A Q&A with Stransact's Victor Athe on Nigeria's Tax Landscape

Nigeria's tax landscape is constantly evolving, and keeping up with the latest changes can be a challenge for businesses of all sizes.  ...

News Blog Apr 24, 2024

Is Your Tax Bill Eating Away Your Profits? Explore Tax Incentives to Reduce Your Tax Liability

Many Nigerian businesses struggle with the weight of corporate taxes, hindering their ability to invest in expansion and innovation. However, a ...

News Blog Apr 22, 2024

Press Interview: Can Taxes Solve Nigeria's Debt Crisis?

Economic Resilience: A Nigerian Business Owner’s Guide to Financial Mastery

Learn strategies for building a robust business that can withstand economic fluctuations and thrive in Nigeria’s dynamic market. Perfect for entrepreneurs seeking long-term growth and stability.

News Blog Mar 19, 2024

How Does Internal Audit Contribute to Good Corporate Governance?

“Discover the transformative power of internal audits in enhancing corporate governance. Our expert insights guide you through strategic audit practices that reinforce accountability and drive business success.

News Blog Mar 06, 2024

Creating a Culture of Compliance: Embedding Risk Management in Organizational DNA

In the dynamic Nigerian business environment, where resilience and adaptability are paramount, cultivating a culture of compliance goes beyond t...

News Blog Feb 27, 2024

Understanding the Tax Consequences of Remote Work

The world of work has undergone a remarkable evolution, shaped by historical shifts and technological progress. In the pre-internet era, individ...

News Blog Feb 20, 2024

Critical Analysis: Transition from E-TP Plat to TaxPro-Max for Transfer Pricing Returns and CbCR Notifications

The Federal Inland Revenue Service (FIRS) has issued a public notice announcing the migration of the annual filing of Transfer Pricing (TP) retu...

News Blog Jan 26, 2024

The Federal Government of Nigeria must introduce major reforms for economic revival - Eben Joels

Eben Joels, Managing Partner of Stransact (Chartered Accountants) "The Federal Government of Nigeria must introduce major reforms for economic revival." An Interview with Justice Okamgba of Punch Newspaper