CBN data localisation directive will boost investment in digital infrastructure — GFA Co-Founder
By Babajide Komolafe The Central Bank of Nigeria, CBN, data localisation directive will create measurable, long-term demand for local data centres, cloud services and other sovereign digital infrastructure, GFA Technologies Group has said. Co-founder of GFA Technologies Group, Adebola Omololu, stated this while assessing the investment opportunities arising from the directive, describing it as a catalyst […]
Equities market recoups losses, investors gain N279bn
The stock market reversed losses by 0.31 per cent on Thursday, recording N279 billion gain for investors.
Otedola increases stake in First HoldCo by N2.01bn
Otedola now holds a 16.1% stake in First HoldCo, compared to the 13.15% recorded in September 2024
CBN warns against naira abuse, hoarding of currency
Emma Ujah, Abuja Bureau Chief & Favour Isaac As the Yuletide sets in, the Central Bank of Nigeria (CBN) has warned Nigerians against naira abuse and the hoarding of the currency. The CBN, in Abuja yesterday flag off the campaign against the mal handling of naira as it increases the costs of maintaining the currency. Deputy […]
Pension funds now open to FX denominated investments — PenCom
•Directs PFAs to report contributions above $10,000 By Rosemary Iwunze As the pension fund continues to grow, hitting N24.6 trillion by June 2025, Pension Fund Administrators, PFAs, now have authorisation to invest part of the funds in foreign currency-denominated instruments. PenCom also directed all PFAs and Pension Fund Custodians (PFCs) to report foreign currency pension […]
Experts list impacts of AI application on regulatory bye-laws
By Niyi Okiri A Board Advisor and Senior Lecturer at the Lagos Business School, Nkem Iheanachor, has advised regulators to ‘stop seeing the world as it should be, but to see it as it is’. Iheanachor gave this advice, during his presentation at the 2025 ICE Summit Regulators’ Masterclass, with the theme ‘Balancing The Scales: The […]
Nsibidi Institute to display inaugural festival on Nigerian popular culture
All is now set for Nsibidi Institute to showcase the heritage and social culture of Nigerian popular culture.
How CSCS drives innovation through technology
In an era defined by rapid digital transformation, the Central Securities Clearing System (CSCS) PLC, has emerged as a key driver of innovation within Nigeria’s capital market.
LCFE lists N23.4bn Eko rice contracts
The Lagos Commodities and Futures Exchange (LCFE) has listed Eko Rice Classic Contracts valued at N23.4 billion, marking a major milestone in the transformation of Nigeria’s agricultural and commodities sectors
Excisable goods: MAN cautions FG on introduction of tax stamp
By Yinka Kolawole The Manufacturers Association of Nigeria (MAN) has cautioned the federal government against the possible introduction of tax stamp system for excisable goods in Nigeria, warning of the risks of heavy compliance costs, increased operational bottlenecks, with limited incremental revenue. In a statement yesterday, Director General of MAN, Segun Ajayi-Kadir, said while manufacturers […]
14 banks fully met new capital requirements – CBN
•As CBN reduces interest rate to 27% •External reserve hit $43bn •NECA demands reforms to ease cost of living crisis •CBN’s easing of credit conditions a welcome, timely intervention – CPPE By Emma Ujah, Abuja Bureau Chief, Peter Egwuatu, Victor Ahiuma-Young & Yinka Kolawole ABUJA—Governor of the Central Bank of Nigeria, CBN, Yemi Cardoso, said yesterday […]
FIRS defends FG’s borrowing framework
By Johnbosco Agbakwuru THE Federal Inland Revenue Service, FIRS, yesterday defended the federal government’s borrowing plan, insisting that debt remained a legitimate component of every national budget. It also announcing that Personal Income Tax, PIT, and Company Income Tax, CIT, reforms would take effect from January. FIRS equally said federal revenue collection surged to N3.64 trillion […]
Investors lose N326bn on NGX
The equities market closed on a negative note on Tuesday, as market capitalisation dropped by N326 billion, or 0.4 percent.
Apapa Customs targets 200 containers hourly scan to facilitate trade, cargo clearance
By Godwin Oritse Comptroller Oluwadare Oshoba, Customs Area Controller of the Apapa Port Command, has called on port users and stakeholders to prepare for a more seamless trade process as the Nigerian Customs Service advances its modernisation project with the commencement of fixed scanner installations. With the installation of fixed scanners now underway at Apapa Port, […]
Nigeria’s GDP records 4.23 % growth in Q2’25
•As non-oil sector contributes 95% By Elizabeth Adegbesan The National Bureau of Statistics, NBS, yesterday, said Nigeria recorded 4.23 percent Gross Domestic Product (GDP) growth in the second quarter of 2025 (Q2’25) from 3.13 per cent in first quarter,Q1’25. This represents a 1.1 percentage point quarter-on-quarter (QoQ) increase. In the GDP report for Q2’25, NBS said: “Following the […]
FAAC: NUPRC records N459.6bn revenue shortfall despite 3% rise in monthly remittance
By Obas Esiedesa, Abuja The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported a revenue shortfall of N459.6 billion against its August 2025 budgetary target of N1.2 trillion, after remitting N745 billion to the Federation Account. In its report to the Federation Accounts Allocation Committee (FAAC) for September 2025, the Commission disclosed that its revenue collection […]
