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The Securities and Exchange Commission will force the Nigerian capital market to settle equity and commodity trades within one business day from June 1. This shift from the current two-day cycle slashes the time investors must wait to get cash from share sales. Market operators have until the deadline to fix their back-office systems or…
The Federal Government has unveiled an online mediation platform to handle rising disputes between citizens and revenue agencies without charge. Minister of Finance Taiwo Oyedele launched the digital portal, toll-free call centre, and case management system for the Office of the Tax Ombud yesterday in Abuja. The newly established agency will act as an independent…
The Industrial Training Fund is investing 3.6 billion Naira into business incubation and capacity building to standardise informal labour. The state agency has commenced a pilot testing phase in Abuja to move domestic workers away from unverified training documents. Under its Skill-Up Artisans programme, the fund is introducing international certification examinations in partnership with an…
The Nigeria Revenue Service has introduced a unified Taxpayer Identification system to replace the existing validation framework for all taxable entities. The new system creates a single database linking federal and sub-national revenue authorities. Backed by the Nigeria Tax Administration Act of 2025, the initiative makes the new identity mandatory for every taxable person nationwide….
The Nigerian naira recorded slight movements against the United States dollar in both the official and parallel foreign exchange markets on Monday, May 18, 2026, as demand pressure for foreign currency continued to weigh on the market. Data from the Nigerian Foreign Exchange Market showed the official exchange rate hovering around N1,371 per dollar,…
Nearly two-thirds of Nigerians are demanding a reduction in borrowing costs ahead of the Central Bank of Nigeria’s Monetary Policy Committee meeting scheduled for May 19 and 20, 2026, according to the apex bank’s own survey data. The CBN’s April 2026 Inflation Expectations Survey Report, released by its Statistics Department under the Economic Policy…
The Minister of Aviation and Aerospace Development, Festus Keyamo, is urging state governments to establish their own airlines to boost domestic and regional connectivity. This drive aims to replicate the model seen in Akwa Ibom with Ibom Air, which currently dominates several local routes. By encouraging sub-national investment, the federal government hopes to fill the…
Corporate Nigeria is proving surprisingly durable in the face of a punishing economy. At least 15 of the country’s largest firms posted a combined profit of N3.12 trillion in the first quarter of 2026. This surge comes despite chronic inflation, a volatile currency, and the high cost of diesel. Banks, cement giants, and telecommunications firms…
The Federal Government is in advanced discussions with the World Bank over a proposed $1.25 billion loan facility aimed at accelerating economic reforms, expanding job opportunities, and strengthening business competitiveness across the country. According to documents obtained by Channels Television, the proposed facility is tied to a programme titled Nigeria Actions for Investment and Jobs…
Documents presented at Federation Account Allocation Committee meetings have revealed that the Nigerian National Petroleum Company Limited and the Nigerian Upstream Petroleum Regulatory Commission remitted over N322bn and $116.9m into the Federation Account within just two months of the implementation of Executive Order 9, signed by President Bola Ahmed Tinubu in February 2026. The FAAC…
