The Office of the Auditor-General of the Federation has accused the Central Bank of Nigeria, under the leadership of former Governor Godwin Emefiele, of re-circulating dirty and unfit banknotes valued at N29.77bn in violation of the apex bank’s own Clean Note Policy. The allegation is contained in the newly released Auditor-General’s Annual Report on Non-Compliance…
The Federal Inland Revenue Service (FIRS) has moved to clarify recent reports suggesting that Nigerians without a Tax Identification Number (TIN) would be unable to open or operate bank accounts. In a statement issued on Friday and signed by Iniobong Irene, the FIRS Public Relations Officer, the agency described such claims as misleading, assuring citizens…
The Nigerian stock market endured a punishing session on Tuesday, 11 November 2025, as panic-induced sell-offs obliterated a staggering ₦4.6 trillion in market value. The All-Share Index (ASI) plummeted by 5.01%, closing at 141,327.30 points, while market capitalisation nosedived from ₦94.5 trillion to ₦89.9 trillion. This rout marks the steepest single-day decline ever recorded on…
Analysts have warned that the newly introduced Capital Gains Tax (CGT), set to take effect from 1 January 2026, could negatively affect investment flows and destabilise Nigeria’s macroeconomic environment. They expressed concerns that the policy may deter venture capital, real estate, and other key investment sectors. Many portfolio investors are reportedly considering selling off assets…
Senegal’s sovereign bonds rallied sharply following comments from International Monetary Fund (IMF) Managing Director Kristalina Georgieva, who confirmed that discussions on a new loan programme with the West African nation would “intensify in the coming weeks.” Georgieva praised Senegal’s reform efforts, stating the IMF was “very encouraged by the commitment of the Senegalese authorities to…
The Federal Government on Wednesday recorded a major breakthrough in its efforts to curb inflation to 15 per cent, as new data from the National Bureau of Statistics (NBS) showed that Nigeria’s headline inflation eased to 18.02 per cent in September 2025 from 19.12 per cent in August, The PUNCH reports. According to the latest…
The Nigeria Labour Congress (NLC) has strongly criticized the Federal Government’s recent directive mandating the enforcement of the “no work, no pay” rule against university lecturers currently on strike. The union reaffirmed its stance as “no pay, no work.” Speaking to journalists on Wednesday after meeting with Governor Alex Otti in Nvosi, Isiala Ngwa South…
At the recently concluded ICTEL EXPO 2025, hosted by the Lagos Chamber of Commerce and Industry (LCCI) from July 29–30 in Lagos, Mr. ‘DeRemi Atanda, Managing Director of Remita Payment Services Limited, joined other prominent leaders in the technology, finance, and policy sectors for a pivotal conversation on advancing Africa’s economic future. Speaking during a…
Artificial Intelligence (AI) is redefining the financial technology landscape, driving multi-dimensional transformation through efficiency, innovation, and enhanced fraud management. As AI-powered solutions revolutionise operations, decision-making, and customer engagement, Nigeria’s fintech industry must move beyond just observing to structured adoption. Embracing AI strategically will not only enhance operational effectiveness, but also expand access to financial services,…
Quomodo Systems Africa, Africa’s leading systems integration company, sponsors the upcoming swimming festival at Ikoyi Club 1938, demonstrating its commitment to fostering sporting excellence and supporting the development of young talents in Nigeria. The event, scheduled for Saturday, February 1, 2025, will see participation from primary and secondary school students in various swimming categories. The…
