By ESTHER McWILLIS-IKHIDE NIGERIA’S capital market is bracing for one of its most significant turning points in decades as momentum grows toward the anticipated 2026 listings of Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL) on the Nigerian Exchange (NGX). Analysts say the dual public offerings could radically expand the exchange, attract historic […]
By FIDELUS ZWANSON NIGERIA’S latest VAT distribution for October 2025 has revealed sharp disparities between what the six geo-political zones contributed and what they received, according to FAAC data compiled by TheCableIndex. The South-West remained the highest contributor, generating ₦333.01 billion but receiving ₦91.88 billion, amounting to just 27.59 percent of its input. The South-South […]
By FIDELUS ZWANSON NEW CBN data shows Nigeria’s revenue is growing, but still nowhere near the levels required to fund the 2025 budget—forcing the Federal Government into deeper reliance on borrowing. In Q2 2025, federally collected revenue rose to ₦8.3 trillion, up 15% from the previous quarter and 30% year-on-year. Yet this represents only 43% […]
By FIDELUS ZWANSON IN a major policy shift, the Central Bank of Nigeria (CBN) has lifted all cash deposit limits and increased weekly withdrawal thresholds for individuals and businesses, effective 1st January 2026. The move aims to ease liquidity constraints, reduce transaction delays, and restore confidence among cash-dependent consumers and businesses. Under the new rules, […]
By OBIOMA TORI SIX years after its launch, Nigeria’s Personal Pension Plan (PPP) — the micro-pension scheme created to extend retirement security to over 70 million informal-sector workers — remains far from delivering its promise. Despite its national ambition, the scheme has attracted only about 200,000 contributors, with total assets still below ₦1 billion. Spread […]
By FIDELUS ZWANSON NIGERIA’S demand for physical cash surged again in October, with Currency Outside Banks (COB) climbing to ₦4.65 trillion — its highest level in months — despite the Central Bank of Nigeria’s renewed monetary tightening. The latest Money and Credit Statistics show a 4.07% increase from September’s ₦4.47 trillion, adding ₦181.71 billion to […]
By FIDELUS ZWANSON NIGERIA’S banks, insurance companies, pension fund administrators, and other financial institutions contributed a total of ₦203.24 billion in Value Added Tax (VAT) during the first half of 2025, marking a 37% increase from the ₦148.18 billion recorded in the same period last year. This surge, according to the National Bureau of Statistics […]
By OBI DAVIES NIGERIA’S banking sector is approaching a critical juncture as the Central Bank’s recapitalisation deadline of March 31, 2026, looms, yet progress remains slow and investor confidence fragile. Only 16 banks have met the required capital thresholds, leaving at least 14 struggling to raise funds amid tight liquidity and cautious market sentiment. High […]
By FATIMA HUSSAINI DESPITE $30 million raised for the Safe School Initiative (SSI) since the 2014 Chibok abductions, over 42,000 schools in northern Nigeria remain vulnerable to kidnappings and attacks. Armed groups have abducted more than 2,000 students and forced about 800 schools to shut over the past decade. The SSI, launched with support from […]
By OBIOMA TORI THE Presidential Committee on Fiscal Policy and Tax Reforms has clarified that Nigerians do not need a Tax Identification Number (TIN) to operate personal bank accounts, unless those accounts are used for business transactions. Committee Chairman, Taiwo Oyedele, made the clarification during a weekend briefing in Abuja, explaining that tax authorities can […]