Business News

NAFDAC seals illegal cosmetic factory Shine Shine Skincare in Lagos over unsafe cosmetic production

August 31, 2025

Crime and Insecurity

NDLEA raids 71.5-hectare cannabis farm in Taraba, destroys 178,750kg harvest

August 31, 2025

Politics

Speaker directs investigation into alleged unfair recruitment exercise in National Assembly

August 31, 2025

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Business News

Business and economic news from Nigeria and around the world.

FIRS generates N490 billion tax revenue in July, collects 89% from non-oil sector,7.5% VAT: Implementation to begin Feb 1 – FG, FIRS redeploys 50 directors in massive shakeup ,FIRS moves to stop tax evasion with newly launched intelligence system , FIRS boss, Nami discloses why FIRS failed to meet revenue target under Fowler, FIRS to scale up tax compliance with new policies , FIRS tighten noose on deduction of stamp duty, CIT, others , Nigerians will now pay N50 stamp duty on electronic receipts – FIRS, Tax debt payments extended to August 31- FIRS

FIRS to brace up on tax compliance policies

by Chidinma Nwagbara

In a bid to ensure total tax compliance in the country, the FIRS has disclosed plans to put new policies...

diaspora remittances, Total credit to the economy rose to N19.54trillion – CBN Governor, CRR debits, P-AADS, #EndSARS: CBN says funds in frozen accounts may be linked to terrorist activities, Covid-19: Court closures impacted revenue generation for courts - Emefiele, P&ID dispute: UK Court orders $200 million guarantee to FG, Leaked letter by Poultry Farmers Association triggered CBN emergency approval to import maize, nImplications of CBN's latest devaluation and FX unification, current account deficit, IMF, COVID-19, CBN OMO ban could give stocks a much-needed boost , CBN’s N132.56 billion T-bills auction records oversubscription by 327% , Nigeria pays $1.09 billion to service external debt in 9 months , Implications of the new CBN stance on treasury bill sale to individuals, Digital technology and blockchain altering conventional banking models - Emefiele , Increasing food prices might erase chances of CBN cutting interest rate , Customer complaint against excess/unauthorized charges hits 1, 612 - CBN , CBN moves to reduce cassava derivatives import worth $600 million , Invest in infrastructural development - CBN Governor admonishes investors , Credit to government declines, as Credit to private sector hits N25.8 trillion, CBN sets N10 billion minimum capital for Mortgage firms, CBN sets N10 billion minimum capital for Mortgage firms , Why you should be worried about the latest drop in external reserves, CBN, Alert: CBN issues N847.4 billion treasury bills for Q1 2020 , PMI: Nigeria’s manufacturing sector gains momentum in November, CBN warns high foreign credits could collapse Nigeria’s economy, predicts high poverty, MPC Member, BVN, Fitch, Foreign excchange (Forex), Overnight rates crash after CBN’s N1.4 trillion deduction, Nigeria’s foreign reserves hit $36.57 billion; Emefiele keeps his word on defending the naira, CBN to support maize farmers, projects 12.5 million metric tons in 18 months, BREAKING: CBN Upscales Greenwich Trust Limited, grants it's operational license for merchant banking, AGSMEIS: CBN expand beneficiaries to 14,638., CBN expands access to mortgage financing

CBN to offer Niger Delta rice farmers single-digit loan

The Central Bank of Nigeria (CBN) says rice farmers in Niger Delta area will now be offered single-digit loans.

Power sector loses N19.15 billion to gas shortages, transmission infrastructure challenges

by Chidinma Nwagbara

Due to insufficient gas supply, distribution and transmission infrastructure, the Nigerian power sector lost about N19.15 billion in just 10...

Teleology’s Co-founder, Omar Edewor, is redefining Value-Added Services with AE Technologies

by Emmanuel Abara Benson

Omar Farouk Edewor is a vibrant Nigerian professional who is doing great things in the Nigerian telecommunications industry.

CBN’s N154.38 billion T-bills auction over subscribed by 46% as rates fall marginally, internet banking

Nestle, Friesland to sign local milk production deal with FG, CBN

Nestle Nigeria and Friesland Campina WAMPCO are reportedly planning to sign an agreement with the Federal Government and the Central...

Director, Legal Services of the LIRS, Seyi Alade

LIRS shuts 16 companies over alleged tax evasion, threatens to close more

LIRS is cracking down on companies in Lagos, leading to the shutdown of 16 companies for allegedly not remitting N126.19 million consumption tax.

NNPC Towers, Abuja, Glencore- NNPC scandal: Ex-Trader paid $300,000 bribe to government official’s election campaign

Why $60 billion claim against IOCs is hard to sell- NNPC

NNPC has disclosed that the $60 billion owed by international oil companies operating in Nigeria can’t be recovered.

Zuckerberg to support international tax reform

by Abiola Odutola

The Cheif Executive Officer, Facebook, Mark Zuckerberg is set to throw his weight behind the call for technology giants to...

Bourse, NSE in 2019, events & outlook, Foreign portfolio transactions drop by N280 billion as foreign investors remain net sellers of Nigerian equities , 2020 Nigerian Equities Outlook: Breaking the Jinx?, Equities: Foreign investors remain net sellers for second consecutive year , Investors part with N152.1 billion as bearish trade extends, Stocks close February in deep red as investment options dry up for Nigerians, Economy: Domestic investors hold sway in January

NSE’s market cap shed N152.1 billion as bears take over

by Samuel Oyekanmi

Investors in the Nigerian equities market lost N152.1 billion at the end of last week.

FG approves digital ID for Internally Displaced Persons - Pantami, Minister denies approving NIPOST license fee increment , Isa Ali-Pantami, NCC to determine number of phone numbers entitled to an individual