NEZA Commends NEPZA, OGFZA on Call for 10-Year Tax Moratorium
By Oluwakemi Kindness The Nigeria Economic Zones Association (NEZA) has applauded the Managing Directors of the Nigeria Export Processing Zones Authority (NEPZA) and the Oil and Gas Free Zones Authority (OGFZA) for advocating a ten-year moratorium on implementing the National Tax Policy (NTA) within Nigeria’s Free Zones. In a statement on Tuesday, NEZA describs the […]
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 […]
Customs, NMDPRA Step Up Security to Curb Fuel Diversion
By Oluwakemi Kindness The Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) have stepped up joint actions to curb fuel diversion and safeguard Nigeria’s domestic energy supply. The renewed collaboration came into focus during a meeting in Abuja between the Comptroller-General of Customs, Adewale Adeniyi, and NMDPRA’s Executive Director […]
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 […]
CBN Confirms Final Licensing of 82 Bureaux De Change
By Oluwakemi Kindness The Central Bank of Nigeria (CBN) has approved final operating licences for 82 Bureaux De Change (BDCs) under the Revised Regulatory and Supervisory Guidelines for BDC Operations 2024. The approvals were issued in line with the Bank’s powers under the Banks and Other Financial Institutions Act (BOFIA) 2020. According to a statement […]
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 […]
NSITF Reaffirms NLC as Key Partner in Social Protection
By Chinedu Echianu Managing Director and Chief Executive of the Nigeria Social Insurance Trust Fund (NSITF), Barr. Oluwaseun Faleye, has described the Nigeria Labour Congress as a critical partner in advancing social protection and safeguarding the welfare of workers across the country. Addressing the National Executive Council (NEC) meeting of the congress in Lagos, Faleye […]