CBN unveils new FX guidelines, approves cash movement of $50,000
By Emma Ujah, Abuja Bureau Chief The Central Bank of Nigeria (CBN) has issued fresh Foreign Exchange Guidelines which provides that an individual can move cash of up to $50,000, but must be declared at the point of exit. The bank also retained the earlier provision for the movement or import of cash of up to […]
Manufacturing tax contributions maintain upward trend in 2025
…VAT rises 45.6% to N1.17trn; CIT up 32.8% to N881.3bn By Yinka Kolawole The manufacturing sector’s contribution to tax revenue collections in Nigeria maintained an upward trend in 2025, contributing a total of N1.17 trillion in Value Added Tax (VAT) representing an increase of 45.61 percent over the N803.53 billion recorded in 2024 while the sector’s Company […]
Electricity: FG sets up committee to tackle gas to power challenge
By Obas Esiedesa The Federal Government has inaugurated a Gas-to-Power Monitoring Committee to address persistent gas supply challenges affecting electricity generation in the country. Speaking at the inauguration in Abuja, the Minister of Power, Chief Adebayo Adelabu, described the initiative as a decisive step towards resolving one of the most critical constraints in the Nigerian Electricity […]
Debt pressure mounts as FG borrows N8.1trn in 2026 already
World Bank has warned that the rising amount of money the Federal Government is spending to service debt is reducing its ability to fund critical infrastructure
Stock market maintains uptrend as investors gain N1.4trn in 4 days
By Peter Egwuatu The Nigerian stock market extended its bullish momentum, Week-on-Week, WoW, at the close of trading last week , as sustained institutional demand for large-cap and fundamentally resilient stocks continued to drive the Nigerian Exchange Limited, NGX benchmark Index, All Share Index, ASI, and market capitalisation higher. Specifically, investors garnered N1.359 trillion from their […]
UBA equips over 700 young professionals under Graduate Programme
By Babajide Komolafe United Bank for Africa (UBA) Plc has reinforced its commitment towards tackling youth unemployment across the continent with the successful employment of over 700 young professionals under its Graduate Management Acceleration Programme (GMAP). Since inception, the bank’s GMAP initiative has empowered more than 5,000 young graduates across Africa, providing them with world-class training, […]
