Money market

Abuja, Jan. 21, 2025 – Taiwo Oyedele, the Chairman, Presidential Committee on Fiscal Policy and Tax Reforms, says the U.S. new external tariff policy announced by Donald Trump, the U.S. President, could disrupt global trade. Oyedele said this via his X handle on Monday after the swearing-in of Trump as U.S. President  Trump had said during his inauguration on Monday that: “Instead of taxing our citizens to enrich other countries, we tariff and tax other countries to enrich our citizens. For this purpose, we are establishing the External Revenue Service …

Abuja, Jan. 19, 2025 – The Democratic Front (TDF) has commended the Nigeria Governors Forum (NGF) for reaching a consensus with the Presidential Committee on Fiscal Policy and Tax Reforms over the tax reform bills. In a statement signed by its Chairman, Mallam Danjuma Muhammad and Secretary, Chief Wale Adedayo, the group said on Saturday in Abuja that the deal was bound to lay all divisive rhetoric on the tax reform to rest. It said: “Like many Nigerians, we at the Democratic Front can now heave a sigh of relief …

Abuja, Jan. 18, 2025 – The Federal Accounts Allocation Committee (FAAC) has shared N1.424 trillion among the federal government, states and local governments from the December 2024 federation account revenue. Bawa Mokwa, the Spokesman for the Office of the Accountant General of the Federation, disclosed this in a statement on Friday. He said the money was shared during the January meeting of FAAC in Abuja. A communiqué issued at the end of meeting indicated that the total gross revenue for December 2024 was N2.310 trillion. It said the total deductions …

Lagos, Jan. 17, 2025 – In a strategic move to sustain its impressive performance, leading financial institution Fidelity Bank Plc has announced significant changes to its Board of Directors effective Jan. 14, 2025. According to a regulatory filing on the corporate disclosure portal of NGX Regulation Limited, the Bank has received the Central Bank of Nigeria’s (CBN) approval to appoint Alhaji Abdullahi Sarki Mohammed as an Independent Non-Executive Director, Ms. Obiaku Augusta Okam as a Non-Executive Director, and Mr. Sufiyanu Ibrahim Garba as an Executive Director, all effective Jan. 14, …

Abuja, Jan. 16, 2026 – The Nigeria Governors Forum has endorsed the Tax Reform Bills before the National Assembly. The governors endorsed the bills after their one-day consultations and engagements with the Presidential Tax Reform Committee and the Federal Inland Revenue Service. According to a communique issued at the end of the meeting, the governors expressed agreement to maintain the current Value Added Tax (VAT) rate and Corporate Income Tax (CIT) to ensure economic stability.  The governors also endorsed a revised VAT sharing formula which allocates resources as follows: 50% …

Abuja, Jan. 16, 2026 – The Nigeria Governors Forum has endorsed the Tax Reform Bills before the National Assembly. The governors endorsed the bills after their one-day consultations and engagements with the Presidential Tax Reform Committee and the Federal Inland Revenue Service. According to a communique issued at the end of the meeting, the governors expressed agreement to maintain the current Value Added Tax (VAT) rate and Corporate Income Tax (CIT) to ensure economic stability.  The governors also endorsed a revised VAT sharing formula which allocates resources as follows: 50% …