The Nigerian banking sector is facing a critical stability test as a $2 billion (approx. N2.9 trillion) distressed loan from indigenous energy giant Nestoil Limited forces a historic “balance sheet reset” and lack of dividend payments. The latest banks hit […]
Business Law
By Udeme Akpan Dangote Sugar Refinery Plc has received shareholders’ approval for a N500 billion Rights Issue, thus positioning the company to strengthen its financial standing, expand capital base, accelerate strategic initiatives, and aid its backward integration projects. The approval […]
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 […]
The Central Bank of Nigeria (CBN) has addressed a viral social media post claiming that billionaire businessman Razaq Okoya is set to purchase Polaris Bank following a purported liquidation process. The post, which circulated widely on X, suggested that Polaris […]
By Taofik Salako, Deputy Group Business Editor Financial abuses and mismanagement running into many trillions of naira led to the sack of former directors and owners of Union Bank of Nigeria (UBN) and the appointment of a new board and […]
By Peter Egwuatu The Securities and Exchange Commission (SEC) has announced plans to significantly step up enforcement of market rules in 2026, following the enactment of the Investments and Securities Act (ISA) 2025, as part of efforts to strengthen investor confidence […]
Nigeria Revenue Service (NRS) says its replacement with the defunct Federal Inland Revenue Service (FIRS) will overhaul the architecture of the country’s revenue administration. The Executive Chairman of NRS, Dr Zacch Adedeji, said this in a television interview monitored from […]
Chairman of the Nigeria Revenue Service (NRS), Dr. Zacch Adedeji, has dismissed fears that the new tax reform framework could be used by the Federal Government to marginalise political opposition or target individuals on the basis of political affiliation, insisting […]
The implementation of new tax laws commenced yesterday on a clearer and more transparent footing. The National Assembly directed the release of Certified True Copies (CTCs) of the harmonised bills that were transmitted by lawmakers and assented to by President Bola […]
By Victor Ahiuma-Young & Johnbosco Agbakwuru ABUJA — President Bola Tinubu has said that the new tax laws, including those that took effect on June 26, 2025, and the remaining acts scheduled to commence on January 1, 2026, will be implemented […]