The Manufacturers Association of Nigeria (MAN) has raised significant concerns over the potential introduction of a tax stamp system for excisable goods, warning that such a move could undermine the government’s recent tax reforms and place an additional financial burden on local industries. While the association acknowledges the government's efforts to modernise tax administration through …
Nigeria's foreign exchange reserves have reached a significant milestone, hitting $43.03 billion as of September 25, 2025—the highest level in six years. This was disclosed by the central bank governor, Yemi Cardoso, at the end of the Monetary Policy Committee meeting today in Abuja. This marks a substantial recovery from the low of $37.18 billion …
The Central Bank of Nigeria (CBN) has announced a reduction in the Monetary Policy Rate (MPR) by 50 basis points, bringing the rate down to 27%. This decision was made at the conclusion of the CBN’s Monetary Policy Committee (MPC) meeting, where all 12 members of the committee were in attendance. In addition to the …
The broader African cryptocurrency market continues to show promise, with Bitcoin (BTC) trading at approximately $113,006, marking a 0.14% increase over the past 24 hours. Ethereum (ETH) is priced around $4,196, reflecting a slight 0.31% gain. Other prominent cryptocurrencies like Binance Coin (BNB), Cardano (ADA), and Solana (SOL) are also experiencing minor fluctuations. These price …
The Global Information Crisis Poses a Dire Threat to Economic Prosperity and Human Progress, and a Unique Opportunity. Eleven of the world’s leading economists, including two Nobel laureates, urge governments to recognize and uphold the economic value of public interest media in the age of AI Governments around the world are chasing the AI dream, …
President Bola Tinubu has announced the end of the six-month state of emergency imposed on Rivers State, declaring that Governor Siminalayi Fubara, his deputy, Ngozi Nma Odu, and members of the State House of Assembly will return to office on Thursday, September 18, 2025. Tinubu, in a statement released on Wednesday by the Presidency, said …
International Monetary Fund (IMF) Managing Director Kristalina Georgieva today announced her intention to appoint Nigel Chalk as Director of the Fund’s Western Hemisphere Department (WHD). Mr Chalk will assume his new role effective October 27, 2025. A UK and Irish national, Mr Chalk brings to the role nearly three decades of experience at the Fund. …
Niteon, one of Nigeria's largest digital export marketplaces, has announced the launch of Niteon Capital, the first neobank built specifically for African manufacturers. Founded by Nigerian entrepreneurs Tony Nwose and Daniel Chukwuemelie, the US-based startup has already built a reputation for helping verified African manufacturers, spanning agriculture, fabrics and mineral products, connect seamlessly to international …
FXTM, a global leader in online trading, has announced the launch of FXTM Edge, a new trading account designed to give Nigerians an easy and innovative way to enter the financial markets. FXTM Edge provides an accessible entry point into the markets by allowing traders to begin with as little as $50 through a micro trading account, enabling …
Analysts at Financial Derivative Company (FDC) led by economist Bismark Rewane have said Nigeria’s latest trade figures highlight both the fragility of its oil reliance and the potential of its broader economy. In Q2 2025, crude oil earnings slumped by over ₦3 trillion, despite higher production. By contrast, non-oil exports surged 107% to ₦18.4 trillion in the …
