By Ajibola Olaide, JKNewsMedia Reporter RISING CONCERNS have emerged over the sudden spike in the price of Liquefied Petroleum Gas (LPG), also known as cooking gas, as the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) described the current increase as artificial and driven by opportunistic market behaviour. The Associati...
By Joke Kujenya MAJOR CHANGES to Nigeria’s tax structure are expected from January 2026 as the Presidential Committee on Fiscal Policy and Tax Reforms confirmed that about 98 percent of Nigerians would either be exempted from the Pay-As-You-Earn (PAYE) tax or have their rates reduced to the lowest minimum. Chairman of the Committee, Mr. Taiwo...
By Blessing Kenneth, JKNewsMedia Intern THE CENTRAL Bank of Nigeria (CBN) has clarified that the new 75 percent Cash Reserve Ratio (CRR) on non-Treasury Single Account (TSA) public sector deposits will not restrict account holders from accessing their funds. The clarification followed the Monetary Policy Committee (MPC) meeting at which the m...
By Jemimah Wellington, JKNewsMedia Correspondent THE CENTRAL Bank of Nigeria (CBN) has warned that careless handling of the naira is raising costs and eroding public confidence in the national currency. During the launch of a nationwide sensitisation campaign in Abuja on Wednesday, the Deputy Governor, Operations Directorate, Bala Bello, caut...
By Yomi Omolade, JKNewsMedia Intern THE MONETARY Policy Committee of the Central Bank of Nigeria (CBN) has reduced the benchmark interest rate by 50 basis points, lowering it from 27.5 percent to 27 percent. Governor Olayemi Cardoso made the announcement while briefing journalists on the outcome of the 302nd meeting of the Monetary Policy Com...
By Jemimah Wellington, JKNewsMedia Correspondent THE MANUFACTURERS Association of Nigeria (MAN) has commended government efforts to modernise tax administration through the enactment of the Nigeria Tax Act 2025, while warning against a proposed introduction of a Tax Stamp System for excisable goods. In a statement signed by its Director Gener...
By Jemimah Wellington, JKNewsMedia Correspondent TRADING ON the Nigerian Exchange (NGX) closed on a positive note on Thursday as market capitalisation returned to the N90 trillion mark, with investors recording a gain of N143 billion. Market data showed that the rebound was supported by renewed investor demand in Guinness Nigeria, Eunisell In...
HEADLINE INFLATION rate in Nigeria slowed to 20.12 per cent in August 2025, down from 21.88 per cent in July 2025, according to the latest data released by the National Bureau of Statistics (NBS). The report showed that inflation eased by 1.76 percentage points month-on-month, offering some relief after months of elevated price pressures. Mont...
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 ...
