Category: #Finance
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TRANSPORT COSTS CHOKE NIGERIANS, IMF SOUNDS ALARM
From market stalls to motor parks, rising transport fares are quietly squeezing wallets—and the IMF says it’s getting worse. Nigeria’s cost-of-living crisis is deepening, with the International Monetary Fund warning that soaring transport costs are driving food prices through the roof. At the IMF/World Bank Spring Meetings in Washington, Abebe Selassie said higher fuel prices…
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NIGERIA STEPS UP BID TO HOST AU MONETARY INSTITUTE
Abuja wants the seat of Africa’s money future — and it’s putting everything on the table. The Central Bank of Nigeria says Nigeria has intensified efforts to host the African Union’s African Monetary Institute (AMI), positioning Abuja as a key hub for continental financial integration. CBN Governor Olayemi Cardoso made this known at the IMF/World…
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INSURANCE CASH SURGE: SECTOR RAKES IN ₦2.3BN AS OIL & GAS TAKES THE LEAD
Nigeria’s insurance industry just had a solid quarter—think of it as a financial “rainy day fund” that actually saw sunshine, pulling in billions while oil & gas and fire cover stole the spotlight. The Nigerian insurance sector recorded a strong performance in Q4 2025, with gross premium hitting ₦2.301 billion, according to the National Insurance…
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COMPANY INCOME TAX DROPS TO ₦1.49TRN IN Q4 2025 — NBS
Nigeria’s Q4 2025 CIT sees sharp quarterly decline but posts modest annual growth, with financial, manufacturing, and mining sectors leading contributions. The National Bureau of Statistics (NBS) reports that Nigeria collected ₦1.49 trillion in Company Income Tax (CIT) in Q4 2025, down 49.81% from ₦2.96 trillion in Q3. Domestic CIT contributed ₦819.83 billion, while foreign…
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FLUTTERWAVE GETS CBN GREEN LIGHT TO OFFER BANKING SERVICES
Nigeria’s fintech giant Flutterwave is now officially stepping into full banking, promising faster, smoother financial services for businesses and consumers. Abuja-based Flutterwave has secured Central Bank of Nigeria (CBN) approval to provide banking services in Nigeria, CEO Olugbenga Agboola announced on Friday. The move comes after the company processed over $40 billion in payments in…
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ORILE-AGEGE EMPOWERS WASTE OPERATORS WITH N96M LOAN TO CLEAN UP COUNCIL
Orile-Agege LCDA is taking waste management to the next level, giving PSP operators the financial boost to keep the council clean. The Orile-Agege Local Council Development Area has disbursed N96 million in soft loans to eight Private Sector Participation (PSP) operators, giving each N12 million to strengthen waste collection and sanitation services. Executive Chairman Mr.…
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NGX, CIOD TEAM UP TO RAISE CORPORATE GOVERNANCE BAR
Nigerian Exchange Group Plc has reaffirmed its commitment to promoting top-tier corporate governance through stronger collaboration with the Chartered Institute of Directors Nigeria. Chairman Umaru Kwairanga made the pledge at the unveiling of the CIoD 2026 Corporate Governance Outlook in Ikoyi, Lagos, describing the institute as Nigeria’s leading body shaping directors through training, research and…
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SASAKAWA CONNECTS FARMERS TO SEEDS, FINANCE AHEAD OF PLANTING SEASON
With the rainy season approaching, farmers are getting direct links to quality inputs, funding and trusted suppliers. The Sasakawa Africa Association and partners have brought farmers, agro-dealers and financial institutions together in Minna to improve access to genuine farm inputs before the 2026 planting season. The engagement, under an AGRA-funded maize and soybean project in…
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CBN TARGETS LOWER PRICES: NEW PLAN TO TAME INFLATION TAKES SHAPE
Nigeria’s apex bank says it’s doubling down on a smarter, more transparent strategy to bring inflation under control. The Central Bank of Nigeria has reaffirmed its push toward a full inflation-targeting monetary policy, aimed at delivering long-term price stability and boosting investor confidence. Speaking at a policy session in Abuja, CBN Deputy Governor, Muhammad Abdullahi,…
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TINUBU’S TAX REFORMS BOOST GOVERNMENT REVENUE, FUND INFRASTRUCTURE
Revenue from taxes now outpaces oil, powering roads and social projects. Economic expert Mr Olugbuyiro Akinola says President Bola Tinubu’s tax reforms are transforming Nigeria’s finances. For the first time, tax revenue contributes more than oil and gas, now making up about 68% of public revenue. Akinola noted that better taxpayer awareness and compliance, backed…
