Rather than raising taxes, Nigeria is reshaping its revenue mobilisation strategy to widen the tax base and improve the efficiency of tax collection. The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, reiterated this at the BusinessDay 14th Annual CEO Forum in Lagos, describing the approach as key to sustaining long-term economic …
The Nigerian Correctional Service (NCoS) has called for a stronger focus on rehabilitation, empathy and professional intervention in addressing substance misuse, warning against the continued stigmatisation and criminalisation of persons affected by substance-use disorders. The call was made in Abuja during a two-day capacity-building training organised by the Hope Gilead Recovery Foundation (HGRF), in partnership …
In a major diplomatic move to combat rising continental tensions, Nigeria and Ghana have agreed to jointly spearhead a campaign against Afrophobic protests across Africa. The agreement was reached during a bilateral meeting between Nigeria’s Minister of State for Foreign Affairs, Ambassador Sola Enikanolaiye, and Ghana’s Minister of Foreign Affairs, Samuel Okudzeto Ablakwa, on Friday, …
Although Nigeria has concluded one of the largest banking recapitalisation exercises in its history, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso says the real work has only just begun. Speaking at the BusinessDay 14th Annual CEO Forum in Lagos on Thursday, Cardoso argued that recapitalisation was never simply about raising fresh capital. Rather, he …
The Supreme Court has overturned a Court of Appeal judgment that nullified the forfeiture of seven high-value properties linked to former Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, restoring the Federal High Court's order that permanently transferred the assets to the Federal Government. In a unanimous judgment delivered on Friday, a five-member panel of …
President Bola Tinubu has signed a new Executive Order establishing a coordinated regulatory framework for virtual assets, creating a CBN-led council to strengthen oversight of the digital economy, curb fraud and close regulatory gaps exploited by unregistered operators. The Presidential Executive Order on Virtual Assets Coordination, 2026, which takes immediate effect, is designed to harmonise …
The Commission charges new PPL licence winners to drive Nigeria's 3 million bpd production target The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has charged the latest recipients of Petroleum Prospecting Licences (PPLs) to develop the assets quickly or face the risk of forfeiture under the "drill or drop" provisions of the Petroleum Industry Act …
Nigeria's economic managers are expected to keep interest rates high and tighten liquidity in the coming months as they focus on reducing inflation and stabilising the naira. This development will keep borrowing costs elevated for businesses and households, according to economic policy analyst Dr Felix Ijeh. He said the Federal Government and the Central Bank …
The Independent National Electoral Commission (INEC) is considering conducting a mock presidential election and a comprehensive audit of its electoral technology as part of preparations for the 2027 general elections. INEC Chairman, Prof. Joash Amupitan (SAN), disclosed this on Thursday while receiving the British High Commissioner to Nigeria, Dr Richard Montgomery, during a courtesy visit …
Chief of Staff to the President, Femi Gbajabiamila, has filed a N15 billion defamation suit against Prince Adeniyi Adeyemi, the self-acclaimed Director-General of the Presidential Foreign Investment Promotion Council (PFIPC), over allegations that he demanded a 48 per cent kickback from a purported N27.3 billion take-off grant for the agency. The suit, filed before the …
