The Chairman of the Ekiti State Internal Revenue Service (EKIRS), Olaniran Olatona, has assured Nigerians that the upcoming Federal Tax Law, scheduled to commence in January 2026, is a strategic move to bolster the national economy and will not result in unauthorised bank deductions or public hardship. Speaking at a news conference on Wednesday in Ado Ekiti, Olatona clarified that the reforms are part of the President Bola Tinubu-led administration’s…

Lagos State has solidified its position as Nigeria’s most competitive business environment, clinching two prestigious titles at the Presidential Enabling Business Council (PEBEC) 2025 Awards: “Best Subnational for Ease of Doing Business” and “Best State Reform Champion” in Nigeria. The honours were announced during a ceremony held recently at the Banquet Hall, Presidential Villa, Abuja, where Lagos was recognised for achieving a top-tier performance score of 85.6%. READ ALSO: 2027: Lagos…

The Chief Digital Officer of Lotus Bank, Akinlabi Adegoke, has cautioned that Nigeria’s newly signed tax cooperation agreement with France must be implemented carefully to safeguard the country’s data sovereignty and strengthen its domestic tax systems. Adegoke made the remarks amid growing public debate over the Memorandum of Understanding (MoU) recently signed between the Federal Inland Revenue Service (FIRS) and France’s Directorate General of Public Finances. The agreement is aimed…

The Federal Government, states and local government areas shared a total of N1.928tn as Federation Account revenue for November 2025, reflecting a notable decline from the N2.094tn distributed in October. The allocation was approved at the December 2025 meeting of the Federation Account Allocation Committee (FAAC), held in Abuja. This was disclosed in a statement issued on Monday by the Director of Press and Public Relations in the Office of…

Nigeria’s headline inflation rate declined further in November 2025, reflecting moderated price pressures following the adoption of a new base year, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS). In the report published on Monday, the NBS said the CPI increased to 130.5 points in November from 128.9 points in October, indicating a month-on-month rise in average prices. However, on an…

Lagos State Governor Babajide Sanwo-Olu participated in this year’s Lagos Food Festival yesterday, where he personally cooked and tasted a meal of seafood rice with stir-fry spinach. The event was organised by the Lagos State Ministry of Agriculture and Food Systems at Muri Okunola Park, Victoria Island. The governor stressed that the festival is designed to be a platform for families to come together, unwind and see food from different…

Chairman of Dangote Industries Limited (DIL), Aliko Dangote, has accused the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) of approving large-scale imports of petroleum products from Russia, a move he says is crippling Nigeria’s downstream sector and threatening local refining. Dangote made the claims during a media interaction at the Dangote Refinery on Sunday, where he also levelled allegations of corruption against Farouk Ahmed, the chief executive officer of…

Governor Lucky Aiyedatiwa has a deep-sea port that the Federal Executive Council (FEC) has approved for the industrialisation of the state’s deep-sea port licence. He described the decision as pivotal for industrialisation and investment in the state. Aiyedatiwa made the disclosure on Friday while addressing stakeholders of the All Progressives Congress (APC) at the final expanded quarterly meeting for 2025 in Akure. READ ALSO: Aiyedatiwa flags off Owena dam rehabilitation, vows…

The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has announced that all taxable Nigerians will be required to provide a Tax Identification Number (TIN) to operate or maintain a bank account, beginning 1 January 2026. Oyedele made the clarification in an interview shared on his X account on Thursday, explaining that the measure forms part of the Federal Government’s new tax administration framework under…

Ghana’s economy grew by 5.5% in the third quarter of 2025, buoyed largely by stronger performances in agriculture and services, according to data released by the national statistics office on Wednesday. The latest figures, however, reflect a slowdown compared to the revised 7.0% recorded in the same period last year, with the industrial sector expanding by just 0.8%. Government statistician Alhassan Iddrisu attributed the weaker industrial output to subdued activity…

The Central Bank of Nigeria (CBN) has confirmed that just 82 Bureau De Change (BDC) operators currently hold valid licences to operate in the country. The announcement was made on Monday by the Bank’s spokesperson, Hakama Sidi Ali. According to the CBN, the licences were issued in line with its powers under the Bank and Other Financial Institutions Act (BOFIA) 2020 and the 2024 Regulatory and Supervisory Guidelines for Bureaux…

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has announced that over $185 million and N14.9 billion have so far been released to the Nigerian National Petroleum Company Limited (NNPCL) from the Frontier Exploration Fund, countering recent reports alleging that the regulator withheld the money. The Commission’s Head of Media and Strategic Communication, Eniola Akinkuotu, clarified the development in a statement issued on Monday, stressing that all approved funds had been…