Economy
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Edun hails Nigeria’s removal from EU AML-CFT list, says move to enhance financial credibility
The Federal Government of Nigeria has welcomed the European Commission’s decision to remove the country from the European Union’s list of high-risk third countries for Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT). The decision, outlined in a European Commission Delegated Regulation released this week, follows Nigeria’s removal from the Financial Action Task Force (FATF) list of Jurisdictions under…
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FG plans N500bn green bond issuance in 2026 to fund climate projects
The Federal Government of Nigeria plans to raise up to ₦500 billion through the issuance of green bonds in 2026 as part of efforts to secure alternative financing for climate-related and environmental projects. The Minister of Environment, Balarabe Abbas Lawal, disclosed this on Tuesday during the Abu Dhabi Sustainability Week, according to a Bloomberg report. Lawal disclosed that proceeds from…
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BREAKING: Amid CPI methodology review, Nigeria’s inflation rate hits 15.15% in December 2025
Nigeria’s headline inflation eased sharply to 15.15per cent in December 2025, following a methodological review by the National Bureau of Statistics ((NBS). The ease in inflation rate signal a significant moderation in price pressures compared with both the previous month and the same period last year. Data from the latest Consumer Price Index report showed that the CPI rose to…
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LIRS reiterates January 31st deadline for employers’ annual tax returns filing
The Lagos State Internal Revenue Service (LIRS) has reiterated the statutory deadline of 31st January 2026 for all employers of labour in Lagos State to fulfil their statutory obligation to file their annual tax returns for the 2025 financial year. In a statement issued on Thursday, the Executive Chairman of LIRS, Dr Ayodele Subair, reminded employers that the obligation to…
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Why new tax law guidelines are yet to be released — Oyedele
By Kunle Sanni – The Chairman of the Presidential Committee on Tax Reform, Taiwo Oyedele, has said the release of implementation guidelines for Nigeria’s new tax laws has been delayed due to uncertainty surrounding the final, officially gazetted versions of the legislation. Oyedele spoke on Wednesday in Lagos at the 2026 Economic Outlook organised by the Institute of Chartered Accountants…
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VAT on banking fees is not new, NRS clarifies
The Nigeria Revenue Service (NRS) on Thursday clarified that Value Added Tax (VAT) on banking fees was not introduced by the Nigeria Tax Act, stressing that VAT has always applied to fees, commissions, and charges for services rendered by banks and other financial institutions. The VAT will apply to electronic banking charges, including mobile money transfers, USSD transaction fees, and…
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Budget Office refutes report of NEDC’s N246bn allocation as “salaries budget”
The Budget Office of the Federation has rejected recent claims, alleging that the Northeast Development Commission (NEDC) operates a N246 billion “salaries budget.” Director General, Budget Office of the Federation, Tanimu Yakubu in a statement noted that the assertion is misleading, inaccurate, and rooted in a fundamental misunderstanding of the Federal Government’s budgeting framework. According to him, contrary to…
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Shettima hails MIT’s role in global innovation, urges African entrepreneurs to collaborate
By Kunle Sanni – Vice President Kashim Shettima has commended the Massachusetts Institute of Technology (MIT) for its significant contributions to the global entrepreneurship and innovation ecosystem, noting that its initiatives have helped raise more than $1.5 billion and created over 30,000 direct jobs over the last 20 years. The Vice President also called on African entrepreneurs to strengthen collaboration…
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Nigeria, UAE to co-host ‘Investopia Lagos’ as Tinubu signs major trade pact in Abu Dhabi
By Kunle Sanni – President Bola Tinubu has announced that Nigeria will co-host the Investopia global investment forum with the United Arab Emirates (UAE) in Lagos this February, in a move aimed at attracting international investors and boosting sustainable investment inflows into the country. The announcement was made on Tuesday at the Abu Dhabi Sustainability Week (ADSW) 2026, where Nigeria…
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Nigeria to unlock $3bn annually from carbon market — Tinubu
By Kunle Sanni – President Bola Tinubu has announced that Nigeria is positioning itself to unlock between $2.5 billion and $3 billion annually from the global carbon market over the next decade, as the country advances a self-driven emissions trading system. The president made this known on Tuesday while addressing world leaders at the 2026 Abu Dhabi Sustainability Week, themed…
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