No Immediate Plan to Implement 5% Petroleum Tax- Wale Edun
By Aremu Toyeebaht Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has assured Nigerians that there are no immediate plans to implement the proposed five per cent tax on petroleum products. Speaking in Abuja on Tuesday, Edun explained that while the levy is part of a new tax administration framework scheduled […]
Customs Reforms Key to Africa’s Global Trade Competitiveness – CGC Adeniyi
By Oluwakemi Kindness The Comptroller-General of Customs, Adewale Adeniyi, has declared that reforms in customs administration are no longer optional but essential for Africa to unlock its economic potential and strengthen the competitiveness of exporters on the global stage. He stated this while delivering a keynote at the Intra-African Trade Fair (IATF2025) in Algiers. Adeniyi […]
NAICOM, NESG Unite to Drive Insurance Reform under NIIRA 2025
By Oluwakemi Kindness The National Insurance Commission (NAICOM) has spotlighted the newly enacted Nigeria Insurance Industry Reform Act (NIIRA) 2025 as a game changer for the nation’s financial services sector. NAICOM also described it as the foundation for growth, transparency, and consumer protection. Commissioner for Insurance, Olusegun Ayo-Omosehin, made this known on Tuesday while receiving […]
CBN’s Recapitalisation Drive to Strengthen Banks, Attract Investment — Cardoso
By Oluwakemi Kindness Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has assured that the ongoing banking sector recapitalisation exercise will deliver stronger, shock-resistant institutions capable of financing growth and restoring investor confidence in Nigeria’s economy. Speaking at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos on Saturday, Cardoso said the […]
Customs Sets $300 Duty-Free Limit on Small Imports, Baggages
By Oluwakemi Kindness The Nigeria Customs Service Board (NCSB) has approved a De Minimis threshold of $300 for low-value consignments imported through express shipments and passenger baggage, effective Monday, September 8, 2025. A statement on Sunday said the decision was reached at the Board’s 63rd regular meeting held on September 2, chaired by the Minister […]
FIRS Certifies eTranzact for Nationwide E-Invoicing Rollout
By Oluwakemi Kindness The Federal Inland Revenue Service (FIRS), has certified eTranzact Firm as a provider for its nationwide e-invoicing rollout. FIRS emphasized that the move is expanding on earlier collaborations to automate tax processes. In a statement on Thursday, FIRS Head of Corporate Communications, Adeyemi Opene, says the move will strengthen the agency’s push […]
Trump’s Control Of Federal Reserve,a “Serious Danger” -ECB President
By: Aremu Toyeebaht European Central Bank (ECB) President, Christine Lagarde, has cautioned that allowing U.S. President, Donald Trump to assert direct control over the Federal Reserve would pose a “serious danger” to both the American and global economy. Speaking on Monday, Lagarde expressed concern over Trump’s reported efforts to “remove Federal Reserve governor Lisa Cook”, […]
Speaker Abbas Orders Probe of National Assembly Recruitment Exercise
By Oluwakemi Kindness Speaker of the House of Representatives, Abbas Tajudeen, has directed the House Committee on Public Service Matters to investigate the recent recruitment exercise conducted by the National Assembly Service Commission (NASC). House Spokesman, Representative Akin Rotimi Jr., stated this in a statement on Sunday saying though the recruitment was not handled by […]
Nigeria, Brazil Central Banks Deepen Fintech, Remittance Ties
By Oluwakemi Kindness Nigeria and Brazil are charting a new path in economic cooperation, as the Central Bank of Nigeria (CBN) and the Banco Central do Brasil have agreed to deepen collaboration in fintech, remittances, and financial inclusion. The agreement followed high-level talks between CBN Governor, Olayemi Cardoso, and his Brazilian counterpart, Gabriel Muricca […]
Budget Office to Restore Confidence Amid Delays in Fiscal Reporting
By Oluwakemi Kindness The Budget Office of the Federation has assured Nigerians and development partners of its commitment to transparency in fiscal reporting. This is following mounting concern over delayed Budget Implementation Reports (BIRs). The Office, in a statement, explains that the publication of the reports, pending since the second quarter of 2024, was slowed […]