A professor of Capital Market, Uche Uwaleke, has called for the establishment of a National Compensation Fund to assist victims of proven Ponzi frauds. Uwaleke, also the President, Capital Market Academics of Nigeria (CMAN) made the call at a virtual workshop on Ponzi schemes on Sunday in Abuja. According to him, the fund can be […]
THE Central Bank of Nigeria (CBN) has announced the establishment of a dedicated Compiance Department as part of ongoing reforms to enhance regulatory effectiveness and streamline supervisory responsibilities. According to a circular signed by Olubunmi Ayodele-Oni, the new department was created in the first quarter of 2025 with full operational responsibilities commencing in the second […]
NIGERIA, Africa’s largest oil producer, has announced a 5% tax on all fossil fuel sales as part of its new tax law that goes into effect in January 2026. According to this new tax regulation, Nigerians are now expected to pay a “5% surcharge that is chargeable on fossil fuel products provided or produced in […]
PRESSURE on Nigeria’s Tier-2 banks is intensifying as the Central Bank of Nigeria’s (CBN) March 2026 recapitalisation deadline approaches. New research by SBM Intelligence warns that many may be swept up in a fresh wave of mergers and acquisitions. In 2024, the CBN directed all commercial banks to raise their minimum paid-up capital to ₦500 […]
THE Nigerian stock market continued on a bearish trend on Tuesday, losing ₦623 billion. Market capitalisation dropped by ₦623 billion or 0.71 per cent, closing at ₦87.783 trillion when compared to ₦88.406 trillion recorded on Monday. Similarly, the All-Share Index (ASI) dipped by 984.55 points or 0.71 per cent, reaching 138,737.64 from 139,722.19 recorded earlier. […]
THE considered vote of confidence passed on the economic reforms of President Bola Tinubu’s administration by Dr. Ngozi Okonjo-Iweala and Prof. Chukwuma Soludo, two notable finance and economy persons, no doubt is a big morale booster to the government. Dr. Okonjo-Iweala, Director-General of the World Trade Organisation (WTO), recently said Nigeria’s two-year-old reforms are restoring […]
South Africa’s Department of Trade, Industry and Competition (DTIC), working with the South African Consulate General in Lagos, successfully concluded the 2025 Outward Selling Trade Mission to Nigeria. The week-long mission focused on building stronger business-to-business links, improving investor confidence, and promoting reforms that make trade easier between both countries. Acting High Commissioner and Consul […]
THE Chartered Institute of Bankers of Nigeria (CIBN) on Saturday inducted 1,242 new members into its ranks of Chartered Bankers and Microfinance Certified Professionals at the 2025 Stream II induction ceremony in Lagos. The event, which has its theme as “The Smart Banker’s Compass: Innovate, Adapt, and Solve Like a Pro”, was described as a […]
THE Corporate Affairs Commission (CAC) has announced the deferment of the implementation of revised fees for its services to 1st October. The Commission, in a public notice issued on Saturday in Abuja, said the decision was taken to enable it prioritise full stabilisation of its new Company Registration Portal before mid-September. Report say that the […]
A university lecturer, Dr. Kabir Alhaji-Jabo of Usman Danfodio University, Sokoto (UDUS), has called on stakeholders to empower young people and nurture their potential. He emphasised the importance of equipping the youth with the necessary tools and opportunities to grow and contribute meaningfully to society. According to Alhaji-Jabo, such empowerment is crucial in enabling young […]