UPDATE: Senate Passes Remaining Tax Reform Bills The Senate has passed the remaining two of the four major tax reform bills, completing clause-by-clause review aimed at modernising Nigeria's tax administration. During Wednesday’s plenary, lawmakers began deliberation on the reports of the four executive-sponsored tax bills, successfully passing...

NELFUND Denies Diverting N71.2bn Student Loan Funds The National Education Loan Fund (NELFUND) has denied allegations of fund diversion in the execution of the students loan scheme, insisting that all disbursements were properly accounted for. Speaking before the House of Representatives Committee on Students Loan, Scholarship...

‎Naira Slides to ₦1,630/$ in Black Market Amid Continued Volatility ‎The naira depreciated further against the US dollar on Thursday, dropping by ₦20.02 to exchange at ₦1,630/$ in the parallel market, down from ₦1,610/$ on Wednesday. ‎A currency trader at the Abuja black market told Economic...

NERC Says Power Consumers Owe Discos N54bn in February The Nigerian Electricity Regulatory Commission new report has revealed that electricity consumers owe the distribution companies up to N54bn for the power consumed in February this year. In its Factsheet for February, NERC disclosed that the 12...

Staff Severance, Other Expenses Gulp N306bn - CBN The Central Bank of Nigeria has revealed that it spent N306.63bn to offset staff expenses and the emoluments of former employees it asked to take an early exit option from the bank in 2024. This amount represents an...

Manufacturers Lose N1.9bn to FX volatility In Q1 - Report Manufacturers in Nigeria have reported a loss of N1.91bn due to foreign exchange volatility in the first quarter of 2025, as revealed by their unaudited financial statements for the period ended 31 March 2025. Some of...