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The Joint Revenue Board (JRB) has called for the accelerated harmonization of taxes across Nigeria, warning that fragmented systems are undermining efficiency and constraining revenue mobilization across all tiers of government. This call was detailed in a communiqué issued at the conclusion of the Board’s 159th meeting, held from April 20 to 22, 2026, in ...
Zenith Bank Plc has announced the opening of its Côte d’Ivoire subsidiary, marking a pivotal achievement in the Group’s Pan-African expansion strategy. The official opening ceremony, scheduled to hold on Wednesday, April 29, 2026, is expected to attract senior government officials and regulators from Nigeria and Côte d’Ivoire, continental business leaders, and members of the ...
OPay, a leading financial technology company in Nigeria, took center stage as the Headline Sponsor of the inaugural BusinessDay Fintech Summit held on Wednesday, April 22, 2026, at the Oriental Hotel, Lagos. The summit, themed “The Next Financial Frontier: Intelligence, Infrastructure & Inclusion in Africa’s Digital Money Economy,” brought together key players across the financial ...
The Chairman of the Ecobank Alumni Association, Mr Olugbenga Adimula, on Friday said the group had introduced a welfare scheme to support members and strengthen professional networking. Adimula said this in Lagos during the association’s 2026 reunion, noting that the initiative included a welfare fund and a group life assurance package for members. He explained ...
Nigerian Breweries PLC has delivered a significant net profit rebound, successfully moving away from previous loss positions to a positive Profit After Tax in the first quarter of 2026. Operating profit grew by triple digits during the quarter, supported by healthy high-single-digit margins that reflect a more resilient business model. The earnings were largely influenced ...
The Federation Account Allocation Committee (FAAC) distributed a total of ₦2.036 trillion in revenue for March 2026 to the three tiers of government, despite a notable decline in import duty collections and oil-related royalties. The distribution, finalized during the April 2026 FAAC meeting in Abuja, occurred amidst a fluctuating revenue landscape. While the total gross ...
The Federal High Court in Abuja has ruled in favour of the Federal Competition and Consumer Protection Commission (FCCPC) affirming the Commission's powers to investigate financial institutions. The suit filed by United Bank for Africa (UBA) Plc sought to determine whether the FCCPC could validly exercise jurisdiction over a commercial bank licensed by the Central ...
Access Holdings PLC has issued an official disclaimer following the unauthorized circulation of projected financial results on various social media platforms. In a statement filed with the Nigerian Exchange Limited (NGX) on Tuesday, the Company Secretary, Sunday Ekwochi, categorically distanced the corporation from the leaked figures, describing them as speculative and unauthorized. The company clarified ...
The Central Bank of Nigeria (CBN) has announced plans to auction local Treasury bills worth ₦750 billion on Wednesday. The auction, which features three standard tenors, comes at a time when investor interest in long-term government securities remains high. According to the offer details, the apex bank will raise ₦100 billion through 91-day bills and ...
The Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) that both organisations said would safeguard consumers against fraud while opening opportunities for them to leverage the potentials of the telecommunications and financial sectors. The MoU was signed as NCC and CBN inaugurated a Joint Committee ...
By Taiye Olayemi The Nigerian Exchange Ltd. recorded a strong weekly performance, with investors gaining N8.661 trillion amid heightened trading activity. The Newsmen reports market capitalisation rose by 6.60 per cent to N139.827 trillion from N131.166 trillion. The NGX All-Share Index climbed by 6.57 per cent to 217,167.57 from 203,770.43 recorded in the previous week. ...
The Central Bank of Nigeria has introduced the Nigerian Overnight Financing Rate (NOFR) as a new benchmark for the country’s money market, aimed at strengthening monetary policy transmission and enhancing market transparency. In a release issued Friday by Hakama Sidi Ali, Acting Director, Corporate Communications, the apex bank said the initiative was developed with the ...
By Fredrick Ameh The Islamic Financial Services Board (IFSB), Ghiath Shabsigh, has expressed readiness to support the Central Bank of Nigeria (CBN) through technical assistance, capacity building, and policy guidance. The Bank made this known on the sidelines of the IMF and World Bank Spring Meetings in Washington, D.C. Speaking, the CBN Governor, Olayemi Cardoso who held ...
The naira extended its winning streak to eight consecutive sessions on the Nigerian Foreign Exchange Market on Thursday, with the official NFEM rate strengthening to N1,342.3037/$. The closing rate for April 16, 2026, settled stronger at N1,341.0100/$, the best close in 14 days and N0.98 firmer than Wednesday’s N1,341.9900/$. At the official window, the dollar ...
Africa Finance Corporation (AFC), the continent’s leading infrastructure solutions provider has announced an equity investment in Dhamana Guarantee Company Limited (Dhamana). As a credit enhancement facility, Dhamana was established to unlock long-term, local-currency financing for infrastructure projects throughout East Africa. This investment is part of AFC's approved commitment of up to US$20 million in capital, ...
The International Monetary Fund (IMF) has warned countries against providing fuel subsidies despite the global rise in energy prices. Rodrigo Valdes, the IMF’s fiscal affairs chief, issued this guidance on Wednesday during the IMF and World Bank Spring Meetings in Washington, D.C. He urged nations to move away from subsidies and instead help citizens navigate ...
By Fredrick Ameh Nigeria's headline inflation has risen to 15.38% per the latest data released by the National Bureau of Statistics (NBS). Up from 15.06% in February, the uptick signals a persistent rise in the cost of living that continues to strain household purchasing power and business operations nationwide. This is as inflationary pressures intensified significantly on the Consumer ...
By Nana Musa The International Monetary Fund (IMF) has endorsed Nigeria’s ongoing bank recapitalisation drive.It said that stronger capital buffers are cushioning the financial system against external shocks and strengthening resilience amid intensifying global uncertainties.Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the IMF, said this during the Global ...
...as Tinubu unveils new NRS headquarters after over 20 years of delay Nigeria's revenue collection has surged by 322.06% to reach a record ₦28.7 trillion by the end of 2025, the Nigerian Revenue Service (NRS) has revealed. Speaking at the official commissioning of the corporate headquarters of the NRS in Abuja yesterday, the Executive Chairman of the NRS, Dr ...
The Nigerian equities market maintained a bullish trajectory on Tuesday, with the market capitalization of the Nigerian Exchange (NGX) crossing the ₦132 trillion threshold. This positive momentum was largely propelled by significant rallies in high-cap stocks, most notably Ecobank Transnational Incorporation (ETI) and Stanbic IBTC. By the close of the trading session, the All-Share Index ...
The Federal Government has provided an update on online marketplace, Temu's infractions following an investigation by the Nigeria Data Protection Commission (NDPC). The Commission noted that the investigation is ongoing noting that Temu has requested an extension of time to appear before the commission. National Commissioner of the NDPC, Mr Vincent Olatunji in an interview with the ...
...set to pay N2 interim dividend By Damilare Adeleye Guinness Nigeria PLC has achieved a landmark milestone, surpassing the ₦1 trillion mark in market capitalisation on the Nigerian Exchange (NGX), underscoring strong investor confidence and a sustained track record of value creation. As of April 10, 2026, the company’s market capitalisation stood at approximately ₦1.01 ...
Ecobank Group has announced a robust financial performance for the year 2025, recording the sum of N904.7 billion profit after tax. This was disclosed in the bank’s audited financial statement released on Friday, April 10, 2026 by its Chief Executive Officer Jeremy Awori and its Executive Director and Chief Financial Officer, Ayo Adepoju. The pan-African ...
