CBN Revokes Licences of Aso Savings, Others Over Regulatory Breaches
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has revoked the operating licences of Aso Savings and Loans Plc and Union Homes Savings and Loans Plc over persistent regulatory and capital deficiencies. The apex bank took the action under the powers granted by Section 12 of the Banks and Other Financial Institutions Act (BOFIA) […]
Senate Frowns at Multiple Budgets in a Fiscal year
By Anayo Akwitti The Senate has expressed dis-satisfaction with multiple budgets implementation in a fiscal year by the federal government as experienced in 2025. As a result it has, the Senate has tasked the Federal Inland Revenue Service ( FIRS) to increase its projected revenue target for 2026 from thirty one trillion naira to thirty […]
OGFZA Backs 10-Year Tax Exemption for Oil, Gas Free Zone Operators
By Okuwakemi Kindness The Oil and Gas Free Zones Authority (OGFZA) has supported calls for a 10-year exemption for operators in oil and gas free zones from the new tax law. OGFZA Managing Director and CEO, Bamanga Umar-Jada, made the call in Onne, Rivers State, during a town hall meeting with the Federal Inland Revenue […]
FCCPC Expands Investigation Into Airline Ticket Pricing Amid Spike in Fares
By Oluwakemi Kindness The Federal Competition and Consumer Protection Commission (FCCPC) has expanded its ongoing investigation into the pricing templates used by some airlines on domestic routes. This follows widespread concerns over alleged coordinated manipulation and exploitation in airfares, particularly on routes in the South-East and South-South as the festive season begins. A statement issued […]
Court Remands Ex-Labour Minister Chris Ngige in Kuje Prison Over N2.2bn Corruption Case
By Chinedu Echianu A Federal Capital Territory (FCT) High Court in Abuja has ordered the remand of former Minister of Labour and Productivity, Chris Ngige, at the Kuje Correctional Centre pending the hearing of his bail application. Justice Mariam Hassan issued the order on Friday after the Economic and Financial Crimes Commission (EFCC) arraigned the […]
CBN Launches New Agric Credit Board to Tackle Food Insecurity
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has inaugurated a new Board for the Agricultural Credit Guarantee Scheme Fund (ACGSF), aimed at improving access to affordable credit for farmers. Speaking at the ceremony in Abuja on Tuesday, CBN Governor Olayemi Cardoso said the Bank is determined to address decades of chronic underfunding in […]
SEC to Freeze CBEX Accounts as N1.3tn Crypto Scam Unravels
By Oluwakemi Kindness Nigeria’s Securities and Exchange Commission (SEC) has asked the Investments and Securities Tribunal to freeze all bank accounts linked to Crypto Bridge Exchange (CBEX) and 25 others over unlawful crypto investment scheme. The request, filed under suit IST/OA/02/2025, seeks to stop CBEX and its promoters from accessing funds allegedly collected from the […]
Senate Summons Aviation Minister Over Rising Flight Delays, Cancellations
By: Aremu Toyeebaht The Senate on Wednesday summoned Minister of Aviation and Aerospace Development, Festus Keyamo, Nigerian Civil Aviation Authority (NCAA) Director General Captain Chris Najomo and other key stakeholders amid growing concern over persistent flight delays and cancellations across Nigeria. The action follows a motion by Senator AbdulFatai Buhari (APC, Oyo North), directing the Senate […]
SEC Introduces T+1 Settlement For Faster Transaction
By Oluwakemi Kindness Nigeria’s Securities and Exchange Commission (SEC) has outlined fresh measures to modernise the capital market. This include a shift to a T+1 settlement cycle aimed at reducing risk and speeding up transactions. Speaking at the 2025 second Capital Market Committee meeting, SEC Director-General Dr Emomotimi Agama said the long-term goal is to […]
NEPZA Seeks 10-Year Tax Break for SEZ Investors
By Oluwakemi Kindness The Nigeria Export Processing Zones Authority (NEPZA) has urged the Federal Government to grant a minimum 10-year tax relief to operators in the Special Economic Zones (SEZs) to enable them adjust to the country’s new tax laws and remain competitive. NEPZA made the appeal during a virtual stakeholder dialogue hosted by the […]