By HALIMA TAKWAS THE National Hajj Commission of Nigeria (NAHCON) has announced a reduction in the cost of the 2026 pilgrimage to Mecca, with fares set between ₦8.1 million and ₦8.5 million depending on departure zones. NAHCON Chairman, Prof. Abdullahi Saleh Usman, said the new structure—approved by the Federal Government—offers pilgrims an average saving of […]
By OBIOMA TORI THE Federal Government has launched a scheme to provide free business name registration for 250,000 micro and small enterprises nationwide. The initiative, driven by a partnership between the Corporate Affairs Commission (CAC) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), aims to formalise businesses, expand access to finance, and […]
By FIDELUS ZWANSON AT least 20 state governments borrowed a combined ₦458 billon in the first half of 2025, despite receiving record allocations from the Federation Account, an investigation has revealed. Data reviewed from budget reports and FAAC disbursements show states collected ₦3.43 trillion between January and June 2025, a 43% jump from the ₦2.40 […]
By TINA TOLUTOPE The Case for ADR NIGERIA’S insolvency regime has strong statutory foundations but weak procedures that leave businesses and creditors trapped in endless litigation. Justice Onyekachi Otisi of the Court of Appeal underscored that the system’s reliance on already overstretched courts undermines the speed and efficiency corporate rescues demand. She argued that Alternative […]
By FIDELUS ZWANSON THE Central Bank of Nigeria’s surprise rate cut to 27.5% has sparked debate, but the apex bank insists it is no gamble. According to Director of Monetary Policy, Dr. Victor Oboh, the move is a “calibrated step” to ease borrowing costs, stimulate growth, and still hold the line against inflation and currency […]
By OBIOMA TORI FIRSTBANK has announced plans to roll out tailored financial services for blind, partially sighted, and physically challenged customers across its branches and subsidiaries. The initiative, part of the bank’s financial inclusion and diversity drive, will make transaction documents available in braille, audio, large print, and digital formats. ATMs will be upgraded with […]
By TANIMU YAKUBU WHEN President Bola Tinubu scrapped Nigeria’s rigid forex regime in 2024, critics called it a currency collapse as the naira sank to ₦1,800/$1. But by August 2025, the naira had rebounded to ₦1,525/$1—thanks to policy shifts that cleared $4bn in FX backlogs, boosted investor trust, and unified the exchange market. The weaker […]
By OBIOMA TORI THE federal government’s newly gazetted tax laws promise a historic shift in Nigeria’s fiscal landscape. Among the most talked-about provisions is the 20% rent relief for tenants, capped at ₦500,000. On paper, this appears to be a victory for millions of Nigerians struggling with rising housing costs. In reality, it exposes both […]
By FIDELUS ZWANSON THE Nigerian Economic Summit Group (NESG) says attracting both domestic and foreign investment is critical for Nigeria to sustain economic growth and deliver prosperity. Ahead of the 31st Nigerian Economic Summit scheduled for 6–8 October in Abuja, NESG Acting Head of Strategic Communication, Ayanyinka Ayanlowo, stressed that investor confidence hinges on strong […]
By ANITA KNIGHT BILATERAL trade between China and Nigeria reached $15.48 billion from January to July 2025, a 34.7% increase over the same period in 2024, according to Ms. Yan Yuqing, Consul-General of China in Lagos. Speaking at a reception marking China’s 76th anniversary, Nigeria’s 64th independence, and the Mid-Autumn Festival, Yuqing described Nigeria as […]