An investigation by Pinnacle Daily has revealed that the Central Bank of Nigeria (CBN) was buzzing with jubilation over the ‘sacking’ of Deputy Governor, Operations Directorate, Bala Mohammed Bello, just two and a half years after his appointment on 5th October 2023. The jubilation was also shared by former CBN staff who consider themselves …
The Director of the Nigeria National Single Window, Tola Fakolade, has highlighted the benefits of the new government initiative, saying it will simplify trade processes, streamline import and export documentation, and strengthen Nigeria’s competitiveness in global trade. Fakolade also assured stakeholders that the platform would not interfere with the statutory revenue collection responsibilities of agencies …
The Nigeria Revenue Service (NRS) has set up a Curriculum Review Committee to strengthen taxation education in Nigerian institutions and improve the country’s tax administration system. The agency inaugurated the committee on February 24, 2026, at the NRS Academy in Durumi. The move forms part of efforts to modernise tax education and align academic …
Nigeria recorded a higher trade surplus in the fourth quarter of 2025 despite a decline in total merchandise trade and exports, highlighting the country’s continued positive trade balance even as crude oil earnings weakened. The National Bureau of Statistics (NBS) disclosed this in its 'Foreign Trade in Goods Statistics (Q4 2025)', released on Tuesday. The …
The U.S. dollar steadied against major global currencies on Tuesday after Donald Trump stated that the ongoing conflict involving Iran could end “very soon", easing some fears in global financial markets. The greenback traded at 157.73 yen and $1.1632 per euro in Asian markets. The currency remained mostly firm despite retreating slightly from the highs …
Nigeria’s push to strengthen local sugar production gained momentum as the National Sugar Development Council (NSDC) and the Bank of Industry (BOI) launched a ₦10 billion Sugar Project Acceleration Fund (SPAF) to support the development of new sugar projects across the country. The initiative targets greenfield sugar projects and aims to provide both financing and …
The Central Bank of Nigeria (CBN) has been hitting the right notes lately with its effort to increase its reserves, which have now effectively crossed the $50 billion mark, the first time in 13 years. In the last 24 hours, the apex announced that it increased total gold holdings to $3.5 billion after taking delivery …
Nigeria’s economy faces a mix of gains and pressures from the ongoing conflict between the United States, Israel and Iran, with higher global energy prices expected to strengthen government finances even as inflation risks intensify. In a report released on Thursday, March 5, CardinalStone Research said the war, which began on February 28, 2026, has …
Nigeria’s private sector showed signs of recovery in February 2026, but key obstacles are still slowing growth, according to the Nigerian Economic Summit Group (NESG). The group revealed this in its latest Business Confidence Monitor (BCM) report released on Wednesday, March 4. The report shows the Business Performance Index hit 117.2 points, its highest in …
Nigeria’s Value Added Tax (VAT) collections surged to ₦2.28 trillion in the third quarter of 2025, marking a 10.66 per cent increase from the previous quarter and a 28.10 per cent rise from the same period in 2024. According to a review of the National Bureau of Statistics (NBS) data released on Tuesday, the bulk …
