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Business
SEC working with developers to co-create framework for stablecoins regulations, says Agama
The Director General, Securities and Exchange Commission (SEC), Dr Emomotimi Agama has disclosed that the Commission is engaging with developers to co-create a framework for regulation of stablecoins. Agama who made this disclosure in a keynote speech at the 2025 Decentralised Finance (DeFi) in Lagos, said the Commission is not looking to fight with DeFi but is working to attract…
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Business
BREAKING NEWS: Nigeria’s inflation rate drops to 22.97% in May, says NBS
Based on the Consumer Price Index (CPI) data from the National Bureau of Statistics (NBS), Nigeria’s headline inflation eased by 74basis points to 22.97 per cent in May 2025 from 23.71 per cent reported in April 2025. On a month-on-month basis, consumer prices moderated to 1.53 per cent from 1.86 per cent month-on-month (m/m) in April 2025. Accordiing to NBS…
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Business
PHOTO NEWS: FIRS Chairman Zacch Adedeji visits proposed new headquarters in Abuja
The Executive Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, on Monday, paid a visit to the proposed new government revenue generating agency headquarters in Abuja as part of his commitment to delivering quality service to taxpayers. The visit aligns with the ECFIRS’s broader mandate to enhance operational efficiency and foster a more taxpayer-centric service environment.
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Business
FCCPC invites Air Peace over alleged non-refund of ticket fares
The Federal Competition and Consumer Protection Commission (FCCPC) on Monday said it has summoned the management of Air Peace Limited over a deluge of consumer complaints from across the country relating to the non-refund of ticket fares, even in instances where the airline had cancelled its flight operations. FCCPC on X said these actions by Air Peace potentially contravene Sections 130(1)(a) and (b), and 130(2)(b)…
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Crime & City Diary
Emefiele earned $6m in estacodes for international travel as CBN governor, reveals court document
A certified court document has revealed that former Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, earned over $6 million in estacodes for international travel and a total annual remuneration of N350 million during his tenure, in addition to receiving N75 million in quarterly reimbursements. These revelations emerged in the ruling of the Court of Appeal, Lagos Division,…
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Perspectives
With Tinubu, new Nigeria beckons, by Kola Amzat
Suddenly, there is a new wave of optimism all across the length and breadth of Nigeria that the country is poised to bounce back. Nigerians are dreaming again of the restoration of unity, harmony and togetherness that resonated amongst more than 300 ethnic groups across the country, pre Nigerian Independence. Everyone seems gearing up for renaissance Nigeria particularly with a…
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Business
Israel-Iran conflict could trigger drop in FDI, portfolio inflows to Nigeria, others, says report
A report by SBM Intelligence stated that foreign direct investment (FDI) and portfolio inflows into the economies of Nigeria and other West African nations may sharply fall as a result of the Israel-Iran conflict. The firm in its insight report titled, “The Escalating Iran-Israel Conflict and its Implications for West Africa”, stated that “An escalation in direct military engagement between…
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Business
Capital market regulators pursue diplomacy to deepen Nigeria-China financial ties
In a strategic move to position Nigeria’s capital market as a catalyst for cross-border investments, Nigerian Exchange Group Plc (NGX Group) and the Securities and Exchange Commission (SEC) have reaffirmed their commitment to fostering cross-border capital market partnerships. Their current engagements in China reflect a broader drive to strengthen Nigeria’s connectivity to global financial markets and attract new investment flows.…
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Business
Zenith bank, 6 others under regulatory forbearance to suspend dividend payments, directs CBN
The Central Bank of Nigeria (CBN) has issued a directive instructing Zenith Bank Plc and six other banks operating under regulatory forbearance to suspend dividend payments, defer bonuses for executives, and halt investments in foreign subsidiaries or offshore ventures. The remaining six banks are: Access Bank, FBN Holdings, FCMB, Fidelity Bank, Guaranty Trust Holding Company Plc (GTCO), and United Bank…
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Business
Adeniyi lauds Ogun Customs command for optimising 40% revenue increase
The Comptroller-General of Customs (CGC), Adewale Adeniyi, has commended Ogun II Area Command’s impressive revenue performance and pledged support to address its operational challenges. He made this known during a working visit to the Command Headquarters in Abeokuta, Ogun State, recently. During the visit, the CGC was received by the Customs Area Controller (CAC), Comptroller Bisi Alade, alongside other senior…
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