Chairman, Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, yesterday said there was no controversy over the implementation of the new tax laws, adding that their passage followed due process after adequate consultation. He said the NRS was more interested in the gazetted tax laws, and not about the alleged controversies on the harmonised version by…
The Federal Government plans to borrow N17.89tn in 2026 to fund a widening budget deficit as revenue projections fall sharply below expenditure needs, according to the 2026 budget framework obtained from the Budget Office of the Federation. Official figures in the 2026 Abridged Budget Call Circular issued by the Federal Ministry of Budget and Economic…
In a quiet but significant move signaling continued social liberalization under Crown Prince Mohammedbin Salman’s Vision 2030, Saudi Arabia has recently eased its seven-decade-old ban on alcohol sales,expanding access beyond foreign diplomats to a select group of high-value non-Muslim foreignresidents. The nationwide prohibition on alcohol, which has been in place since 1952, remains generally upheld…
TikTok has temporarily restricted access to its LIVE feature during late-night hours for users in Nigeria,citing an ongoing safety investigation. This action follows the platform’s disclosure of sweeping enforcement statistics for the second quarterof 2025, which saw millions of videos and tens of thousands of LIVE sessions banned across the country.The restriction, which was reportedly…
The Central Bank of Nigeria (CBN) has implemented a key set of revisions to its cash policy aimed atpromoting financial inclusion while reducing transactional friction, according to recent regulatorydirectives.The most significant changes include the removal of the cumulative limit on cash deposits and theconfirmation of the N500,000 maximum weekly cash withdrawal for individuals. The CBN…
President Bola Ahmed Tinubu has approved the establishment of a new National Tax PolicyImplementation Committee (NTPIC) to coordinate and oversee the nationwide implementation of hisgovernment’s recently passed tax laws and reforms.In a statement released by the Presidency, the committee’s creation was described as necessary toensure that the series of tax reforms passed earlier this year…
The Central Bank of Nigeria (CBN) says an internal review of its intervention portfolio found totalinterventions of about N10.93 trillion, of which N4.69 trillion remains outstanding, and that the bank hasso far recovered roughly N2 trillion since the current management took office, facts the governor saysconstrain the apex bank’s ability to launch fresh direct intervention…
The Federal Government of Nigeria has clarified that open grazing has not been banned nationwide,countering circulating reports suggesting otherwise. The announcement was made by the Ministry ofLivestock Development on Tuesday. Minister of Livestock Development, Idi Mukhtar Maiha, emphasized that the government isimplementing a gradual transition from open grazing to modern ranching systems. The policy aims…
The National Bureau of Statistics (NBS) has announced that Nigeria’s headline inflation rate eased to 18.02 per cent in September 2025, compared to 20.12 per cent recorded in August, representing a decline of 2.1 percentage points. According to the NBS’s latest Consumer Price Index (CPI) report, released on Wednesday, the new data reflects the outcome…
President Bola Ahmed Tinubu has formally written to the House of Representatives seekingpermission to raise $2.347 billion from the international capital market. The funds are intendedto partly finance the 2025 budget deficit and refinance maturing Eurobonds. Concurrently, healso requested approval to issue a $500 million sovereign sukuk, which would be Nigeria’s firstsuch issuance in international…
