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The Regional Working Group on Tax Policy Alternatives (RWOGTAPA) has underscored the need for policy alternatives to bolster more meaningful growth in tax regime. The group at a two-day regional meeting in Abuja, said that the meeting had become imperative as the tax systems in Ghana and Nigeria had some similar challenges. The meeting was ...
Insolvency experts have called on banks and practitioners to align loan agreements and practices with the rescue provisions of the Companies and Allied Matters Act (CAMA) 2020. Mr Albert Folorunsho, the Vice President, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), made the call at BRIPAN annual conference gala night on Friday in Lagos. ...
The Dangote Petroleum Refinery has suspended the sale of petrol in naira with effect from Sunday, September 28, 2025, raising fresh concerns over fuel pricing, forex stability, and industrial unrest. In a notice to customers at 6:42 pm on Friday, signed by the Group Commercial Operations of Dangote Petroleum Refinery & Petrochemicals, the company declared ...
By Olakunle Oke The Corporate Affairs Commission (CAC) has announced plans to deploy artificial intelligence (AI) to clear a backlog of more than 7,000 pending company registration applications. The move marks a major step in Nigeria’s drive to modernise its bureaucracy and improve service delivery. Nigeria’s decision mirrors a global trend, with governments increasingly turning ...
By Seun Ibiyemi The Independent Media and Policy Initiative (IMPI) has applauded the Central Bank of Nigeria’s (CBN) decision to reduce the Monetary Policy Rate (MPR) to 27 per cent, describing it as a bold step towards stimulating economic growth. On Wednesday, Dr. Omoniyi Akinsiju, the Chairman of IMPI, announced in a statement that the ...
By Sofiyyah Layole Experts have warned that the recurring flooding in Lagos state will persist unless the Lagos State Government strengthens drainage enforcement and curbs illegal construction across flood plains. This follows heavy downpours on Tuesday and Wednesday which plunged the city into chaos. Floods submerged major roads and neighbourhoods, leaving commuters stranded and businesses counting ...
By Olakunle Oke The Federal Government has launched a new artificial intelligence (AI) model tailored to Nigeria’s indigenous languages, in a bold step to promote cultural preservation and inclusion in the nation’s digital economy. The initiative, championed by the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, is designed to support more than ...
promises exceptional year-end dividend By Seun Ibiyemi Zenith Bank Plc’s Group Managing Director/Chief Executive Officer, Dame Dr. Adaora Umeoji, OON, has assured shareholders of stronger value creation following the Bank’s impressive half-year 2025 results, which saw gross earnings rise 20 per cent year-on-year to N2.5 trillion. Commenting on the performance, Umeoji said the results underscore ...
Nigeria has moved to fortify its economic partnership with Saudi Arabia and the wider Gulf region, with the Honourable Minister of State for Finance, Dr Doris Uzoka-Anite, leading the Federal Government’s delegation to the Money20/20 Middle East Conference in Riyadh. This was contained in a statement on Friday signed by Mohammed Manga, Director of Information ...
Ogun State Governor, Prince Dapo Abiodun has revealed that the Olumo rock resort in Abeokuta is experiencing remarkable growth since the renovation of the facility. The Governor stated that the popular tourist site, which once generated a paltry N20 million yearly, is now bringing in that same amount on a weekly basis. Governor Abiodun pointed ...
Gov. Abdullahi Sule of Nasarawa has called on Small and Medium Enterprises (SMEs) in the State to embrace collaboration to enhance the growth of their businesses. Sule made the call on at a one-day Nasarawa Business Empowerment Summit on Thursday in Lafia. The event was organised by Mrs Kunkwle Nghargbu-Adokwe, Founder of NK Foundation, in ...
By Seun Ibiyemi The Federal Inland Revenue Service (FIRS) has ordered financial institutions and relevant stakeholders to deduct tax at source from interest payments on short-term securities. The new directive is in line with provisions of the Companies Income Tax Act (CITA) and the Withholding Tax Regulations, 2024. In a circular signed by its Executive ...
By Seun Ibiyemi A policy think-thank, Independent Media and Policy Initiative (IMPI) has predicted that Nigeria’s headline inflation will decline to 17 per cent by December. Recall that Nigeria's headline inflation rate eased for the fifth consecutive month, dropping to 20.12 per cent in August 2025 from 21.88 per cent recorded in July 2025 according to the ...
Artificial Intelligence (AI) has the potential to significantly boost trade in goods and services, the World Trade Organisation (WTO) has revealed. According to the WTO’s latest World Trade Report released in Geneva on Wednesday, the use of AI could increase global exports and imports by an additional 37 per cent by 2040. The World trade ...
By Seun Ibiyemi The Federal Inland Revenue Service (FIRS) has directed all financial institutions and relevant stakeholders to deduct tax at source from interest payments on short-term securities, in line with provisions of the Companies Income Tax Act (CITA) and the Withholding Tax Regulations, 2024. In a circular signed by its Executive Chairman, Zacch Adedeji, ...
The Manufacturers Association of Nigeria (MAN) has called for a conducive business environment for its operations in the country. The President of MAN, Mr Francis Meshioye, made the call at the association’s Annual General Meeting (AGM) held on Tuesday in Ede, Osun. News Men report that the AGM, with delegates from Osun, Oyo, Ondo, and ...
The Ambassador of the Corporate Affairs Commission (CAC), Mr Michael Nwabufo, popularly known as Mike Premium, has unveiled AI-powered business registration portal to ease processes for prospective applicants. Nwabufo, President of the Practitioners of Content Creating, Skit Making and Influencers Guild of Nigeria (PCCSIGN), disclosed this in a statement on Saturday in Lagos. He described ...
The National Information Technology Development Agency (NITDA) has announced a public review session for two key regulatory documents: the Draft Digital Public Infrastructure (DPI) Live Events and the Draft Technical Standard for the Nigerian Data Exchange (NGDX). This move is part of the agency's strategy to co-create regulatory instruments that are inclusive, sustainable, and align ...
The Federal Government has thrown its weight behind the maiden National Science, Technology and Innovation Communication Conference (STICOMMS 2025), describing it as a landmark initiative for the country. Minister of Innovation, Science and Technology, Chief Uche Nnaji, conveyed his ministry’s full endorsement, calling the gathering unique and timely. He assured the organisers — the African ...
The Minister of Information and National Orientation, Mohammed Idris, has described President Bola Ahmed Tinubu’s recent temporary suspension of raw shea exports as a decisive step to unlock the vast economic potential of Nigeria’s shea industry and position the country as a global leader in shea products. Speaking as Special Guest of Honour at the ...
Vice President Kashim Shettima said on Tuesday that the sweeping economic reforms introduced by President Bola Ahmed Tinubu demonstrate both political resolve and responsiveness to the concerns of Nigerians. He made the remarks at the 66th Annual Conference of the Nigerian Economic Society (NES), noting that while the reforms are difficult, they remain the most ...
Leadway Holdings Limited, one of Nigeria’s largest diversified financial services groups, has unveiled a major strategic move to acquire full ownership of Pensions Alliance Limited (PAL Pensions), one of the country’s leading Pension Fund Administrators (PFA). The transaction, confirmed in a statement by Leadway Holdings on Sunday, also covers the transfer of ownership stakes from ...
