By NINI NDUONOFIT-AKOH THE Independent Corrupt Practices and Other Related Offences Commission (ICPC) generated ₦1.86 billion in 2024 from the sale of confiscated assets linked to corruption cases. ICPC spokesperson Demola Bakare said the figure was disclosed at the 2025 Asset Disposal Committee meeting chaired by ICPC Chairman, Musa Aliyu, who stressed transparency in future […]
By OBI DAVIES THE Nigerian British Chamber of Commerce (NBCC) has urged the Federal Government to make its tax reforms more predictable and transparent to boost business confidence and attract investment. NBCC President, Prince Abimbola Olashore, said many businesses—especially SMEs—struggle to understand key provisions due to poor communication and inconsistent interpretations. He called on the […]
By OBIOMA TORI ECONOMIST Daramola Omoyele has urged the Nigerian government to include religious institutions in its new tax framework while tackling corruption in tax administration. In an interview on Wednesday, Omoyele warned that the 2025 Tax Administration Act—which introduced unified tax IDs and compliance measures—would fail if it exempts powerful groups like religious […]
By FIDELUS ZWANSON PRESIDENT of the Chartered Institute of Taxation of Nigeria (CITN), Mr. Innocent Ohagwa, says the new tax reform will benefit low-income earners and small businesses rather than burden them. Speaking at the investiture of the 7th Chairman of CITN Ilorin District, Ohagwa explained that companies with turnover below ₦100 million or assets […]
By OBI DAVIES MICROFINANCE and digital banking platform Kolomoni has launched two new personal banking features — ‘Snap and Pay’ and ‘Schedule Payment’ — aimed at enhancing convenience and accuracy for users. According to Mrs. Simbiat Kazeem, Head of Personal Banking, the ‘Snap and Pay’ feature uses optical character recognition (OCR) to extract account details […]
By TOSI ORE INTERSWITCH has stressed that Africa’s digital transformation depends on trust, collaboration, and scalable infrastructure, not just innovation and funding. Speaking at Moonshot by TechCabal 2025 in Lagos, Akeem Lawal, Managing Director of Interswitch Purepay, said Africa’s growth will thrive on “infrastructure that endures, partnerships that unite, and trust that turns innovation into […]
By OBI DAVIES MICRO, small and medium enterprises (MSMEs) contribute about 50% of Nigeria’s GDP and account for over 84% of jobs, Minister of Industry, Trade and Investment Jumoke Oduwole said in Abuja on Friday. Speaking at the launch of Moniepoint’s 2025 Nigerian Informal Economy Report, Oduwole noted that Nigeria hosts more than 39 million […]
By OBIOMA TORI NIGERIA’S economy is being sustained by the strength and resilience of women entrepreneurs and Small and Medium Enterprises (SMEs), the United Nations Women has said, describing them as the backbone of innovation, job creation, and national development. Speaking at the 5th Conference of the Women Enterprise Alliance (WenA) in Abuja, themed “Policy […]
By OBIOMA TORI HIGH bank charges, multiple taxes, and poor infrastructure were the biggest challenges facing Nigerian businesses in September, according to the Central Bank of Nigeria’s (CBN) Business Expectations Survey Report. The report showed that 70.8% of respondents cited high bank charges and taxes as major constraints, while 70.7% pointed to inadequate infrastructure. Despite […]
By OBI DAVIES THE Chartered Risk Management Institute of Nigeria (CRMI) has called for institutional reforms, stronger data systems, and ethical governance to protect Nigeria’s economy from global and domestic disruptions. Speaking at the institute’s 24th Annual International Conference in Abuja themed “Global Risks, Local Solutions,” CRMI President Kevin Ugwuoke said Nigeria’s fiscal stability depends […]