President Bola Ahmed Tinubu has approved the establishment of the National Tax Policy Implementation Committee (NTPIC). The Special Adviser to the President on Information and Strategy, Bayo Onanuga, made this known in a statement on Friday, November 28. The committee will be chaired by Joseph Tegbe and overseen by the Minister of Finance and Coordinating …
The Nigerian stock market capitalisation is expected to surge to over N260 trillion in 2026, from the overall N91 trillion the market is currently valued. The Managing Director/Chief Executive Officer of Financial Derivatives Company Limited, Bismarck Rewane, said this on Thursday, November 27. He projected this while speaking broadly on Nigeria’s economic outlook for 2026 …
The Central Bank of Nigeria (CBN) has directed banks, payment service banks (PSBs) and other financial institutions (OFIs) to immediately withdraw all advertisements and promotional materials which do not comply with existing consumer-protection regulations and, within 30 days, submit a compliance attestation. It issued the instruction in a circular on Thursday, November 27, signed by …
Access Holdings Plc has revealed plans to raise its paid-up share capital to N27.65 billion from N26.659 billion to meet regulatory compliance before the year-end. The bank is also seeking shareholders' approval to raise an additional N40 billion, or its equivalent in foreign currency, through a private placement. The tier-1 bank announced this in a …
The Nigerian stock market returned to a bearish note on Wednesday, leaving investors with a loss of N444.32 billion at the end of the day’s trading session on the floor of the Nigerian Exchange Limited (NGX). It rebounded on Tuesday, November 25, halting its six-session downturn as investors heaved a sigh of relief with a …
Champion Breweries Plc said it has commenced the sale of shares valued at N15.91 billion to existing shareholders, hinting that the proceeds will be utilised to fund the strategic acquisition of the Bullet brand. The company announced this in a notification to the investing public on Tuesday, November 25, signed by its Company Secretary, Tosan …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said 16 banks have successfully met the recapitalisation requirements. He hinted at this while briefing newsmen at the 303rd Monetary Policy Committee (MPC) meeting, which concluded on Tuesday, November 25. According to the CBN governor, the Committee noted with satisfaction the sustained resilience of …
The Central Bank of Nigeria (CBN) on Tuesday decided to hold the benchmark interest rate, known as the monetary policy rate (MPR), at 27 per cent to rein in inflation. The apex bank took the decision at its 303rd Monetary Policy Committee (MPC) meeting, which concluded on Tuesday, November 25. Briefing newsmen after the 2-day …
The Securities and Exchange Commission has urged financial sector stakeholders to maintain a culture of compliance to safeguard Nigeria’s position in the global financial system, cautioning that the country's exit from the Financial Action Task Force (FATF) grey list should not be seen as the end of the journey. The SEC Director-General, Emomotimi Agama, gave …
There is a strong expectation that the Central Bank of Nigeria (CBN) will cut the benchmark interest rate when its 12-member committee meets for its 2-day Monetary Policy Committee (MPC) meeting starting on Monday, November 24. The anticipation for another rate cut is reflective of recent positive developments in the domestic and global macroeconomic conditions. …
