FAAC shares N2.43trn among FG, states, LGs
•As CIT, CGT, stamp duties, VAT collections decline By Emma Ujah The Federation Account Allocation Committee (FAAC) has shared N2.428 trillion among the three tiers of government, Federal Government, state governments and local government councils. This comes as collections from Companies Income Tax (CIT), Capital Gains Tax (CGT), Stamp Duties and Value Added Tax (VAT) […]
Nigeria, Türkiye move to strengthen mining operations with MoU signing
By Gabriel Ewepu Nigeria, Türkiye Deepen Mining Cooperation Through New MoU” The Federal Republic of Nigeria and the Republic of Türkiye have signed a Memorandum of Understanding (MoU) aimed at strengthening mining operations, deepening technical collaboration, and expanding investment flows between both countries in the solid minerals and energy sectors. “The MoU signed by the Nigerian […]
Credit to government surges 65.6% to N39.6trn
•As currency outside banks drops 12% to N5.08tr By Babajide Komolafe & Elizabeth Adegbesan Credit to the government rose by 65.6 per cent year-on-year, YoY, to N39.6 trillion in April 2026 from N23.9 trillion in April 2025, driven by increased borrowing to finance the 2026 budget deficit. The Central Bank of Nigeria, CBN, disclosed this in its […]
How HoldCos, capital architecture will define banking future
By Babajide Komolafe For most of the past two decades, the question of which Nigerian banks were winning had a simple answer. The largest balance sheets generated the largest earnings. The largest branch networks captured the largest deposit bases. The strongest lending relationships produced the most durable interest income. The hierarchy was settled and the […]
S/East companies shutting down over rising energy costs — MAN
The Manufacturers Association of Nigeria (MAN) has raised alarm over the worsening state of manufacturing activities in the South-East, warning that rising energy costs and poor access to finance are forcing many companies in the region to shut down. Chairman of MAN for Anambra, Enugu and Ebonyi states, Lady Ada Chukwudozie, disclosed this during the MAN […]
Seme Customs grows revenue by 448% in 2mths
•Says smugglers behind fuel scarcity By Providence Ayanfeoluwa & Efe Onodjae The Nigeria Customs Service, NCS, Seme Area Command, generated N9.79 billion between March 18 and May 2026, representing a 448 per cent increase compared to the N2.19 billion recorded in the corresponding period of 2025. Speaking during his first media briefing at the command, the […]
