N5.2tn remains outside banks despite CBN cashless policy drive
Cash held outside Nigeria’s banking system rose to N5.19tn in May 2026, despite the Central Bank of Nigeria’s sustained push…
Chinese Yuan weakens 6.8150 against US dollar
The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 20 pips to 6.8150 against the dollar…
Fitch warns Nigeria over $5bn swap deal
Nigeria’s proposed $5bn total return swap financing arrangement could expose the country to additional debt-management and liquidity risks despite its…
Nigeria retains foreign investment tax relief in new framework
Nigeria’s new tax framework has retained exemptions on foreign dividends, interest, rent, and royalties, maintaining a long-standing policy that allows…
Manufacturing tax payments plunge 68% in Q1 2026 under new laws
Company Income Tax payments by manufacturers fell by 68.25 per cent year- on-year to N74.48bn in the first quarter of…
FG launches N200 billion share capital for Cooperative Bank of Nigeria
The Federal Government has launched a ₦200 billion share capital mobilization campaign for the proposed Cooperative Bank of Nigeria. The…
FG issues guidelines for transition to new tax regime
The Federal Government has issued transition guidelines for the implementation of the Tax Acts 2025, clarifying how taxpayers, tax authorities…
Nigerians reject IMF/World Bank policy prescriptions.
IMF policy advice extending the value-added tax (VAT) to the already unpopular soaring fuel prices in Nigeria has infuriated virtually…
Nigeria to spend half of revenue on debt servicing in 2026, says IMF
The International Monetary Fund (IMF) has assessed Nigeria’s economic situation and submitted that the country would channel more than half…
Nigeria’s current account surplus rises 46% to $4.98billion
The Central Bank of Nigeria, CBN, yesterday said the nation’s current account surplus grew year-on-year (YoY) by 46 percent to…