FG, States, LGs Share N2.036tn March Revenue
By Oluwakemi Kindness The Federal Government, state governments, and local government councils have shared a total of N2.036 trillion as Federation Account Allocation Committee (FAAC) revenue for March 2026. The distribution followed the April FAAC meeting held in Abuja, according to a communiqué issued by Bawa Mokwa, Director of Press at the Office of the […]
CBN Raises Alarm Over Digital Scams Targeting Nigerians
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has raised the alarm over the circulation of fraudulent messages, emails, and online communications falsely claiming to originate from or be associated with the Bank, warning that the activities are aimed at misleading the public and compromising personal security. The Bank said the fake messages often […]
WATAF Pushes Digital VAT Reform Across Region
By Oluwakemi Kindness The West African Tax Administration Forum (WATAF) has called for urgent digital reform of Value Added Tax (VAT) systems across West Africa, warning that inefficiencies are undermining revenue collection and slowing economic growth. The call was made at a regional forum held on April 21, 2026, in Abidjan, organised by the African […]
RMRDC Flags Raw Exports as Threat to Nigeria’s Industrial Growth
By: Julian Osamoto The Director-General and Chief Executive Officer of the Raw Materials Research and Development Council (RMRDC), Professor Nnanyelugo Ike-Muonso, says Nigeria must stop exporting raw materials in crude form if it is to achieve real industrial growth and economic diversification. He made the statement at a media engagement held on Tuesday, at the […]
Cardoso Says Nigeria’s Economic Reforms On Track After IMF
By Oluwakemi Kindness Governor of the Central Bank of Nigeria, Olayemi Cardoso, says the country’s economy remains firmly on track following the 2026 Spring Meetings of the IMF and World Bank Spring Meetings in Washington. Cardoso, in a message on the bank’s official X handle on Monday, says the CBN is focused on building on […]
FG Rejects World Bank Hidden Spending Claims
By Oluwakemi Kindness The Federal Government has rejected claims of hidden spending and diversion of federation revenue, saying recent reports misinterpret the World Bank’s Nigeria Development Update. Minister of State for Finance, Taiwo Oyedele, said suggestions that funds are being “diverted” reflect a misunderstanding of Nigeria’s fiscal system. “These interpretations misrepresent the World Bank’s analysis […]
CBN Introduces Nigerian Overnight Financing Rate
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has announced the introduction of the Nigerian Overnight Financing Rate (NOFR). The NOFR, in collaboration with the Financial Markets Dealers Association (FMDA), is a standardized benchmark aimed at enhancing transparency, strengthening monetary policy transmission, and deepening Nigeria’s money market.The Central Bank of Nigeria (CBN) has announced […]
Nigeria Rejects IMF Bailout, Backs Homegrown Reforms – Edun
By Oluwakemi Kindness Nigeria has ruled out seeking financial support from the International Monetary Fund IMF, expressing growing confidence in its homegrown economic reforms. The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, made this known while addressing African finance ministers on the sidelines of the IMF/World Bank Meetings in Washington. A […]
Tinubu Signs ₦68.32tn 2026 Budget, Extends 2025 Spending Window
By Oluwakemi Kindness President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a record ₦68.32 trillion budget aimed at driving infrastructure development, economic stability, and inclusive growth. The newly enacted budget allocates ₦4.799 trillion to statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and a significant ₦32.2 trillion […]
NAICOM, UNDP Partner to Expand Climate Risk Insurance
By Oluwakemi Kindness The National Insurance Commission () and the United Nations Development Programme (UNDP) have deepened collaboration aimed at expanding climate risk insurance, strengthening disaster resilience, and improving insurance penetration in Nigeria. This followed a courtesy visit by a UNDP delegation to NAICOM headquarters in Abuja, where both parties reviewed strategic areas of cooperation, […]