By Jemimah Wellington, JKNewsMedia Correspondent AN ESTIMATED N187bn revenue loss has been recorded in Nigeria’s power sector following an increase in unbilled electricity supply, industry data show. The data indicate that a significant portion of electricity generated and distributed during the period was not billed to end users. Industry fig...
By JKNewsMedia Reporter TRADING OPENED in 2026 with a modest lift for the naira at the official foreign exchange market, where the currency exchanged at N1,430.84 to the dollar on Friday, reflecting a gain of N4.31 kobo or 0.34 percent from the N1,435.75/$ level recorded on December 31, 2025. Data from the Nigerian foreign exchange […]...
By Stella Onyebuchi, JKNewsMedia Reporter ASSURANCES OVER personal bank accounts and income declarations have been issued as the Federal Government prepares to roll out sweeping tax reforms from 1 January 2026, following growing public concern over how the changes will be enforced. Clarifying the scope of the reforms, the Chairman of the Pres...
By Jemimah Wellington, JKNewsMedia Correspondent IMPLEMENTATION OF Nigeria’s new tax laws will proceed as scheduled, with remaining provisions set to commence on January 1, 2026, following a reaffirmation by President Bola Tinubu on December 30, 2025. The President stated that the new tax laws, including those that took effect on June 26, 2025...
By Jemimah Wellington, JKNewsMedia Correspondent PUBLIC ANXIENTY around Nigeria’s ongoing tax reforms drew a firm rebuttal on Friday as claims that government agencies plan to remove money directly from citizens’ bank accounts were described as false and dangerous. Speaking at a media workshop on the new consolidated tax law, the Chairman of t...
By Ajibola Olaide, JKNewsMedia Reporter THE FINAL approval of licences for 82 Bureaux De Change took effect as the Central Bank of Nigeria (CBN) confirmed that the authorisation followed the powers provided under the Bank and Other Financial Institutions Act 2020. The confirmation formed part of a wider regulatory exercise that outlines how B...
By Jemimah Wellington, JKNewsMedia Correspondent EFFORTS TO transform Nigeria’s tax system advanced with the formal establishment of the National Tax Policy Implementation Committee (NTPIC), mandated to ensure the execution of recent tax reforms and align fiscal administration with the government’s economic objectives. President Bola Tinubu a...
By Joke Kujenya PRESIDENT DONALD Trump has unveiled plans to provide $2,000 payments to low- and middle-income United States (U.S.) citizens, funded by revenue from tariffs on imports from countries including China, Mexico, and Canada. Any remaining tariff income would be directed toward reducing the national debt, which currently exceeds $38...
By Jemimah Wellington, JKNewsMedia Correspondent FIRM ASSURANCE came from President Bola Tinubu on Thursday that Nigeria will defeat terrorism and other threats to national security as the government sustains its reform agenda to deliver steady economic growth, stability, and prosperity. Speaking at the Federal Executive Council (FEC) meeting...
By Jemimah Wellington, JKNewsMedia Correspondent THE SUM of US$2.35 billion has been successfully raised by Nigeria through dual-tranche Eurobonds maturing in 2036 and 2046 in the international capital markets. The issuance comprises US$1.25 billion for the 2036 (Long 10-year) Notes and US$1.10 billion for the 2046 (Long 20-year) Notes, price...
