The Central Bank of Nigeria (CBN’s) directive to financial institutions to localise payment-related dat by January next year will trigger the global providers to bring their own scale of cloud into the country for building the nation’s digital infrastructure scale give investors more confidence to deploy the capital that brings in the scale to prepare…
The Federal Government has opened a high-stakes window of opportunity for international tech investors, offering direct presidential intervention and sweeping economic waivers for hardware companies that anchor their manufacturing hubs in Nigeria by November 2026, the Board Chairman, Nigerian Communications Commission (NCC), Chief Idris Ibikunle Olorunnimbe, has said. Highlighting the government’s total dedication to backing…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for increased vigilance in the operation and regulation of the Nigeria financial system to protect it against terrorism financing and illicit financial flows. In a statement, ABCON condemned any form of terrorism financing in the country, and reiterated its support for all legitimate…
The Nigerian government has warned that the weak revenue generation and institutional capacity at the sub-national level pose a major threat to development outcomes, especially the achievement of the Sustainable Development Goals (SDGs). The warning was issued at the opening of a High-Level Workshop on Strengthening Fiscal Capacity at the Sub-National Level in Nigeria, held…
Manufacturers in Nigeria have lamented that commercial bank credit allocation to the sector contracted by N1.92 trillion from N8.53 trillion in December 2024 to N6.61 trillion in December 2025, representing a significant year-on-year contraction of -22.5 per cent. Acting under the aegis of the Manufacturers Association of Nigeria (MAN), the group described the situation as…
The Federal Airports Authority of Nigeria (FAAN) has justified its decision to increase operational tariff for airport cab operators and enforce vehicle upgrade requirements, saying the measures are necessary to improve passenger experience and maintain service standards at Nigerian airports. It also set a timeline for its vehicle upgrade policy which it said remained sacrosanct…
By Kolade Kokumo, Lagos Aggrieved members of the All Progressives Congress (APC) in Lagos State have stormed the party’s secretariat, protesting alleged irregularities that characterised the recently concluded House of Representatives and State House of Assembly primary elections in several constituencies across the state.The protesters, comprising party members, supporters and loyalists of aggrieved aspirants, called…
Nigeria’s epileptic electricity situation is costing the economy more than $35billion (about ₦48 trillion) annually, according to a new economic brief released by financial expert and Director of Arthur Group, Martins Itua. The report blamed the losses to chronic power shortages, widespread reliance on self-generated electricity, disrupted business operations, damaged equipment, and post-harvest losses across…
As Nigeria intensifies efforts to expand non-oil revenue and improve tax collection under its fiscal reform agenda, corporate tax contributions from major private-sector operators are becoming increasingly critical to government financing. Supporting that drive, MTN Nigeria said it has paid N878.7 billion in taxes, levies and duties to federal and state authorities in the 2025…
