The international e-commerce platform; Temu, said it is dedicated to protecting users’ personal information and will cooperate with authorities to resolve issues regarding its data handling methods in response to an ongoing investigation by Nigeria’s Data Protection agency. This comes after the Nigeria Data Protection Commission (NDPC) announced that it […]
Economy
With a deal reached yesterday to purchase IHS Towers, the largest independent towers, operators, and developers of shared communication infrastructure worldwide, at an enterprise value of roughly $6.2 billion, MTN Group has regained its old telecom towers that it first sold to IHS Towers in a dramatic business turnabout. The […]
While the National Agency for Food and Drug Administration and Control renewed its ban on sachets and tiny PET-bottled alcoholic beverages, the Manufacturers Association of Nigeria has called for the Federal Government to step in. MAN cautioned that the numerous, contradictory orders from NAFDAC’s campaign are upsetting companies and causing […]
The federal government has stated that it intends to rely more on domestic resources, invest more in the economy, and lessen its reliance on borrowing. Speaking on Bloomberg Television yesterday at the 56th World Economic Forum in Davos, Switzerland, Wale Edun, the Minister of Finance and Coordinating Minister of the […]
The World Bank upgraded its prediction for Nigeria’s economic growth to 4.4% for 2026 and 2027, saying on Tuesday, that the country’s economy is expected to develop at its quickest rate in over ten years. This was revealed in the World Bank’s most recent Global Economic Prospects report. The most […]
The Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, has announced that banks will be required to request a Tax Identification Number (TIN) from all taxable Nigerians, in line with the federal government’s new tax administration framework taking effect on January 1, 2026. Oyedele […]
The Naira maintained relative stability against the US Dollar on Wednesday, December 10, 2025, across both official and parallel markets, following the Central Bank of Nigeria’s (CBN) recent overhaul of the Bureau de Change (BDC) sector. Data from the Nigerian Foreign Exchange Market (NFEM) shows the Naira trading at […]
Operations at important oil and gas regulatory organisations, such as the Nigerian National Petroleum Company Limited, the Nigerian Upstream Petroleum Regulatory Commission, and the Nigerian Midstream and Downstream Petroleum Regulatory Authority, were paralysed Monday by the nationwide strike announced by the Petroleum and Natural Gas Senior Staff Association of […]
Nigeria’s tax system has entered a new era as former Speaker of the House of Representatives, Yakubu Dogara, confirmed that opening or maintaining a bank account now requires a Tax Identification Number (TIN) under President Bola Tinubu’s sweeping tax reforms. Dogara, who currently chairs the Board of the National […]
Excess liquidity in the banking sector is demonstrated by the high increase in bank deposits with the Central Bank of Nigeria (CBN) of 783.7 percent year-over-year (YoY) to N79.8 trillion in the first seven months of the year (7m’25) from N9.03 trillion in the equivalent period of 2024 (7m’24). […]