Nigerians face untold economic hardship, which has worsened since President Bola Tinubu came into office in May 2023, but the Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, said all that will change when the new tax laws come into effect in January 2026. He gave the assurance during a …
The Centre for the Promotion of Private Enterprise (CPPE) has called on the fiscal and monetary authorities to prioritise reforms to sustain Nigeria's disinflation trend. Its Chief Executive Officer, Muda Yusuf, made the call in a statement on Tuesday, September 16. He said, "To consolidate and build on these gains, a coherent mix of fiscal, …
With a 36.55 per cent year-to-date (YTD) return of the All-Share Index as of September 12, the Nigerian stock market seems to have appreciated significantly since the beginning of this year. The boom is the result of an N26.16 trillion gain to investors as the market capitalisation rose from N62.763 trillion on January 2, when …
The Central Bank of Nigeria (CBN) has called on banks to secure its approval before appointing a new successor to the position of managing director six months before the exit of an incumbent, as provided in the corporate governance guidelines. It issued the directive in a circular signed by the Director of Financial Policy and …
The Lagos State Fire and Rescue Service has confirmed a fire incident that occurred in one of the United Bank for Africa (UBA) branches on Lagos Island on Tuesday, September 16. The authority confirmed this in a statement signed by its Deputy Controller General, Ogabi Olajide. It stated that operatives were battling the fire at …
The new tax laws expected to take effect from January 1, 2026, have left many Nigerians apprehensive about certain provisions. One of the provisions is the requirement of a tax identification number (TIN), tax identity (Tax ID) and National Identification Number (NIN) before anyone can continue to operate or open a bank account in Nigeria. …
Following the recent report of the consumer price index (CPI), the Special Adviser to the President on Economic Matters, Tope Fasua, believes Nigeria’s headline inflation is headed towards a single-digit figure. Fasua, who appeared on Channels Television’s Morning Brief on Tuesday, September 16, expressed optimism that the continued drop in inflationary pressure would translate to …
Nigeria has been classified among three sub-Saharan African countries where borrowing costs for governments and businesses have risen in the last five years due to policy weaknesses, unfavourable market conditions, and inflation. Moody’s Ratings, an international rating firm, hinted at this in its latest study, published on Monday, September 15. It stated that Nigeria, South …
The Centre for the Promotion of Private Enterprise (CPPE) has called for a phased implementation of the shea nut ban to safeguard investors' confidence. Its managing director/chief executive officer, Muda Yusuf, made the call in a statement on Sunday, September 14. "This brief argues for a phased, consultative transition framework to safeguard investor confidence, preserve …
As banks' recapitalisation remains about six months to the deadline, 28 banks are now under pressure, with only six listed and two other non-listed banks fully crossing the minimum capital thresholds. Among the listed banks are Access, Zenith, GTB, Wema, Jaiz, and Stanbic IBTC. At the press briefing on its July monetary policy committee (MPC) meeting, …
