Ayomide Kuku

Oyedele Admits Errors in New Tax Reform Laws

Oyedele Admits Errors in New Tax Reform Laws

Taiwo Oyedele, the Minister of State for Finance, has admitted that the nation’s recently enacted tax reform laws contain significant errors. Speaking at a legal conference in early 2026, he blamed manual drafting processes and multiple review stages for the discrepancies. This admission follows months of confusion and allegations that the public versions of the…

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FTSE Russell Restores Nigeria to Frontier Market Status

FTSE Russell Restores Nigeria to Frontier Market Status

FTSE Russell has returned Nigeria to its Frontier Market index, ending the country’s three-year stint in the investment wilderness. The global index provider announced the upgrade in its March 2026 review, moving Nigeria out of the “Unclassified” category it has occupied since September 2023. This reclassification takes effect on 21 September 2026, coinciding with the…

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Oil Prices Surge as Iran Re-closes Strait of Hormuz

Iran Opens New Route Through Mine-Strewn Hormuz

Tehran has designated alternative shipping routes through the Strait of Hormuz, citing the presence of sea mines as it begins a tentative two-week reopening of the world’s most vital energy artery. The Islamic Revolutionary Guard Corps issued the directive on Thursday, instructing vessels to follow specific entry and exit paths to avoid “maritime safety hazards.”…

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NAICOM Hikes Microinsurance Capital to N3bn

NAICOM Hikes Microinsurance Capital to N3bn

The National Insurance Commission (NAICOM) has raised the minimum capital for national microinsurance firms to N3 billion. This sharp increase, contained in the 2026 licensing guidelines, seeks to force financial stability upon a sector designed to serve the poor. Previous requirements for national players stood at just N600 million. Regulators now demand a five-fold increase…

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