9 h. ago Banks to report transactions above N5m monthly under new tax law effective 2026

Tribune Online Banks to report transactions above N5m monthly under new tax law effective 2026 Nigerian banks have been mandated to report all customer accounts with monthly transactions exceeding N5 million to the country’s tax authorities, according to the latest update from the National Orientation Agency (NOA). This directive was part of a sweeping tax reform signed into law, aimed at improving tax compliance, curbing financial irregularities, and aligning Nigeria’s […] Banks to report transactions above N5m monthly under new tax law effective 2026 Tribune Online

Politics

10 h. ago Nigeria, Ghana, South Africa hit as half of African currencies Weaken –Report

Nearly half of African currencies weakened in May 2025, despite continued economic reforms and steady development across the continent, according to the June edition of the Monthly Developments in the African Macroeconomic Environment report published by the African Export-Import Bank (Afreximbank). The report, which assessed exchange rate movements across the continent for the month of […] The post Nigeria, Ghana, South Africa hit as half of African currencies Weaken –Report appeared first on The Sun Nigeria.

Politics

4 d. ago Nigeria’s growth rate to hit 4.2% amid improved oil output, business conditions –Report

By Chinwendu Obienyi Nigeria’s economy is expected to grow by as much as 4.2 per cent by the end of the year, buoyed by improved crude oil production, stronger business sentiment, and a gradual recovery from the economic shocks triggered by recent reforms, the latest report from Stanbic IBTC Bank revealed on Wednesday. The estimate […] The post Nigeria’s growth rate to hit 4.2% amid improved oil output, business conditions –Report appeared first on The Sun Nigeria.

Politics

5 d. ago SDGs: $31.5bn Annual Development Funding Gap Threatens 2030 Timeline

Nigeria’s ambition to achieve the Sustainable Development Goals (SDGs) by 2030 is threatened by the staggering $31.5 billion annual development financing gap, according to the latest African Development Bank (AfDB) 2025 Country Focus Report (CFR). The report, titled “Making Nigeria’s Capital Work Better for Its Development,” warns that unless this shortfall is addressed, critical investments […]

Politics

6 d. ago CJN calls for prudent use of financial resources allocated to judiciary

Tribune Online CJN calls for prudent use of financial resources allocated to judiciary The Chief Justice of Nigeria (CJN), Justice Kudirat Kekere-Ekun, on Monday said the legitimacy and effectiveness of the Judiciary are not only derived from the law it interprets but also from.... CJN calls for prudent use of financial resources allocated to judiciary Tribune Online

Politics

7 d. ago Digital services, remittances, others drive 39.6 per cent banking sector growth in 2024 — Report

Tribune Online Digital services, remittances, others drive 39.6 per cent banking sector growth in 2024 — Report NIGERIA’S banking sector recorded a strong 39.6 per cent year-on-year growth in 2024, with total assets rising to N170.02 trillion from N121.8 trillion in 2023. This remarkable expansion was fueled by surging remittance inflows, the widespread adoption of digital financial services, and broader sector reforms, according to the State of Enterprise (SOE) Report 2025. Despite […] Digital services, remittances, others drive 39.6 per cent banking sector growth in 2024 — Report Tribune Online

Politics

7 d. ago Climate funding gap widens as Nigeria’s green bond stock dips to N32.83bn

From Adanna Nnamani, Abuja Nigeria’s green bond stock fell to N32.83 billion in 2024, a sharp decline from N47.83 billion recorded a year earlier, as the country struggles to mobilise adequate climate finance to tackle worsening environmental challenges. According to the State of Enterprise (SOE) 2025 report, the drop followed the redemption of Access Bank’s […] The post Climate funding gap widens as Nigeria’s green bond stock dips to N32.83bn appeared first on The Sun Nigeria.

Politics

7 d. ago Nigeria records $10.6bn portfolio investment crash in Q1 2025

FDI drops by 19% From Adanna Nnamani, Abuja Nigeria suffered a $10.6 billion crash in portfolio investment in the first quarter of 2025, reflecting deepening capital flight and rising investor concerns over the country’s economic direction. The latest Balance of Payments report released by the Central Bank of Nigeria (CBN) showed that portfolio investment liabilities […] The post Nigeria records $10.6bn portfolio investment crash in Q1 2025 appeared first on The Sun Nigeria.

Events

9 d. ago Nigerians earning N250,000 monthly are poor, won’t pay tax — Oyedele

Tribune Online Nigerians earning N250,000 monthly are poor, won’t pay tax — Oyedele He added that the reforms won’t necessarily increase people’s income but will ensure Nigerians earning N250,000 monthly are poor, won’t pay tax — Oyedele Tribune Online

Economics

1 week ago Households Earning N250,000 Or Less Monthly Won’t Pay Tax – Presidency

President Bola Tinubu’s led administration has clarified its position on the newly approved tax law. Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, Taiwo Oyedele, stated that under the new laws, Nigerian households earning N250,000 or less per month are classified as poor. Speaking on Thursday during an interview with Channels Television, […] The post Households Earning N250,000 Or Less Monthly Won’t Pay Tax – Presidency appeared first on Information Nigeria.

Economics

2 w. ago Access Holdings emerges asset quality leader in 2025 rankings

Access Holdings PLC has been ranked the Tier 1 bank with the best asset quality in Nigeria, having posted the lowest Non-Performing Loan Ratio (NPLR) at 2.76 percent, according to Proshare’s 2025 Tier 1 Banking Report released, recently. This marks a significant achievement for Access Holdings, reinforcing its leadership in credit discipline, risk management, and […] The post Access Holdings emerges asset quality leader in 2025 rankings appeared first on The Sun Nigeria.

Politics

2 w. ago Why Access, Zenith, First Bank may pause dividend payment till 2028 — Report

Access Holdings Plc, Zenith Bank Plc, and First Bank Holdings may suspend dividend payments until 2028, as Nigeria’s top banks read more Why Access, Zenith, First Bank may pause dividend payment till 2028 — Report

Politics

3 w. ago Afreximbank rebuffs Fitch outlook, reaffirms robust financial health

The African Export-Import Bank (Afreximbank) has responded to Fitch Ratings’ latest report with a firm reiteration of its financial transparency, governance integrity and strong commitment to its member states. It also insisted that its operations remain governed by binding treaty obligations, not external misinterpretations. In a statement by its Communications and Events Manager (Media Relations), […] The post Afreximbank rebuffs Fitch outlook, reaffirms robust financial health appeared first on The Sun Nigeria.

Politics

4 w. ago Foundation exposes how bank customers lose money via USSD, recycled phone numbers

Tribune Online Foundation exposes how bank customers lose money via USSD, recycled phone numbers A disturbing trend in which bank customers are losing money through fraudulent activities involving recycled phone numbers and Unstructured Supplementary Service Data (USSD) highlighting vulnerabilities in the synergy between banks and telecommunications companies. According to a report by the Foundation for Investigative Journalism (FIJ), if a Nigerian telephone number connected to a Nigerian bank account […] Foundation exposes how bank customers lose money via USSD, recycled phone numbers Tribune Online

Economics