The Federal Government has announced the exemption of 63 items from the Value-Added Tax (VAT) regime, a move aimed at promoting growth in key sectors, particularly the oil and gas industry. Taiwo Oyedele,...

The Federal Government has announced new tax regulations aimed at reducing the tax burden on the manufacturing sector and small businesses. These changes are outlined in the “Deduction of Tax at Source...

The Central Bank of Nigeria (CBN) has raised its Monetary Policy Rate (MPR) to 27.25%, marking another increase aimed at stabilizing the economy. The decision was made on Tuesday during the Monetary Policy...

Nigeria’s external reserves have hit a 22-month high, reaching $37.31 billion as of September 18, 2024, marking a significant recovery in the country’s foreign currency position. This level is...

The Nigerian National Petroleum Company Limited (NNPCL) has announced that petrol lifted from the Dangote Refinery will be sold at no less than ₦950 per litre in Lagos. The NNPCL spokesperson, Olufemi...

Nigeria’s headline inflation rate slowed to 32.15% in August 2024, down from 33.40% in July, marking a decrease of 1.25 percentage points, according to the latest Consumer Price Index (CPI) report...

The National Data Protection Commission (NDPC) has fined Fidelity Bank N555.8 million for violating customer data privacy laws. The penalty, announced by NDPC’s National Commissioner, Vincent Olatunji,...

The Central Bank of Nigeria (CBN) has announced a remarkable surge in remittance inflows, which reached $553 million in July 2024. This figure marks a 130% increase compared to the same period in 2023,...

The Central Bank of Nigeria (CBN) has announced a critical financial accommodation to facilitate the proposed merger between Unity Bank Plc and Providus Bank Limited. This move aims to strengthen the nation’s...

On Wednesday, the Senate and the House of Representatives passed a bill to double the percentage of Ways and Means loans the Central Bank of Nigeria (CBN) can extend to the Federal Government. The bill,...

The Central Bank of Nigeria (CBN) has raised the benchmark lending rate to 26.75%, as announced by CBN Governor Olayemi Cardoso at the conclusion of the 296th Monetary Policy Committee (MPC) meeting held...

President Bola Tinubu has formally requested the Senate’s consideration and approval for the injection of N6.2 trillion into the existing N27.5 trillion 2024 budget. This proposal was read at the...

The International Monetary Fund (IMF) has revised Nigeria’s real GDP growth projection for 2024 downward from 3.3% to 3.1%. This adjustment, revealed in the IMF’s latest global economic outlook report...

The Corporate Affairs Commission (CAC) announced plans to cancel the certificates of incorporation for Bureaux De Change (BDC) operators whose licenses were revoked by the Central Bank of Nigeria (CBN). In...

President Bola Tinubu inaugurated the Presidential Economic Coordination Council (PECC) on Thursday, tasking it with strategizing a way out of Nigeria’s current economic challenges. The Council comprises...

In recognition of its outstanding performance, Access Holdings PLC has been named the leading Tier-1 Bank in the 2024 Proshare Bank Strength Index (PBSI) report. The PBSI, which evaluates banks based on...

Nigeria has won the bid to host the headquarters of the African Energy Bank (AEB), a global multilateral institution dedicated to financing Africa’s hydrocarbon resources and supporting the continent’s...

The Federal Government of Nigeria has settled a backlog of debts amounting to $850 million owed to European airlines. This announcement was made by the European Union Ambassador to Nigeria and the ECOWAS,...

The Federal Government has announced exemptions from withholding tax for farmers, small businesses, and manufacturers. This development was revealed by Taiwo Oyedele, Chairman of the Presidential Committee...

In a significant move to enhance Nigeria’s oil and gas production, the NNPC-TotalEnergies joint venture has announced a $550 million Final Investment Decision (FID) on the Ubeta Field Development...