By Ajibola Olaide, JKNewsMedia Reporter THE FEDERAL Inland Revenue Service (FIRS) has reaffirmed that Nigerians will not be required to obtain a separate Tax Identification Number (TIN) before they can open or operate bank accounts under the new framework set to take effect in January 2026. In a statement issued on Saturday, Arabinrin Aderonk...
By Jemimah Wellington, JKNewsMedia Correspondent THE CENTRAL Bank of Nigeria (CBN) has announced it will sustain its monetary tightening stance to safeguard stability in the financial system, Governor Olayemi Cardoso has confirmed. Speaking at a fireside chat during the European Business Chamber (Eurocham Nigeria) C-Level Forum, moderated by ...
By Jemimah Wellington, JKNewsMedia Correspondent ALLOCATIONS TO state governments have more than doubled since President Bola Tinubu removed the petrol subsidy in May 2023, the Federal Government has announced. Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this in Abuja at the National Health Financing Dia...
By JKNewsMedia PRICES OF the precious metal briefly climbed to a record high on Tuesday, driven by mounting expectations of a United States (US) interest-rate cut and concerns over the Federal Reserve’s policy direction. Bullion for immediate delivery advanced as much as 0.9 percent to reach $3,508 an ounce, surpassing the previous peak recor...
By Jemimah Wellington, JKNewsMedia Correspondent MODEST GAINS closed August for the Nigerian currency as the Naira advanced against the United States (US) dollar across both the official and parallel markets, supported by improved foreign exchange inflows and a stronger external reserves position. Economic analysts linked the steady performan...
By Jemimah Wellington, JKNewsMedia Correspondent NEW RULES from the Central Bank of Nigeria (CBN) mandate the geo-tagging of every Point of Sale (PoS) terminal in the country within 60 days, with precise GPS coordinates recorded for each active device. In a circular dated 25 August 2025, the regulator directed payment service providers and ba...
By Ajibola Olaide, JKNewsMedia Reporter TECHNOLOGY AND food security will serve as the cornerstones of Nigeria’s accelerated development, President Bola Tinubu said during an engagement with Nigerians in Brazil on Tuesday. The President emphasised his administration’s determination to drive transformation through innovation, reform, and inclu...
By Jemimah Wellington, JKNewsMedia Correspondent NIGERIA’s CAPITAL market has recorded remarkable growth under ongoing economic reforms, President Bola Tinubu said during a state visit to Brazil on Tuesday. He highlighted the surge in market capitalisation and the rise in trading activities, describing them as signs of broadened opportunities...
By JKNewsMedia FOREGIN EXCHANGE in Nigeria continued to reflect market volatility as the naira traded at fluctuating values across the black market, Bureau De Change operators, and official channels. Market watchers noted that the rate for the United States (US) dollar depends largely on daily supply and demand, with prices shifting within hou...
By Jemimah Wellington, JKNewsMedia Correspondent SALES TO the Nigerian Bottling Company (NBC) accounted for over N63billion in revenue for Dangote Sugar Plc during the second quarter of 2025, representing 31.74% of the company’s earnings for the period. A statement says total Q2 revenue reached N216.2billion, marking a year-on-year increase o...
