FIRS, Media Collaborate To Simplify Tax Language, Foster Voluntary Compliance

NewsNigeriaPoliticsFIRS, Media Collaborate To Simplify Tax Language, Foster Voluntary Compliance

Uzoamaka Ikezue (Staff Reporter)May 23, 2025

In a bid to simplify the tax language and foster voluntary compliance, the Federal Inland Revenue Service (FIRS) held a training workshop on Friday for Heads of Communications from leading radio stations and communication organisations nationwide. The session,  a one-day Strategic Tax Communication Session’ organised by Arabinrin Aderonke Bello, Technical Assistant, on Broadcast Media to the Executive Chairman of FIRS,  aimed to equip the Radio Stations with the skills and strategies needed for effective grassroots...

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Otedola Backs Tinubu’s Reforms,  Raises First HoldCo Investment to ₦320 Billion

BusinessNewsNigeriaOtedola Backs Tinubu’s Reforms,  Raises First HoldCo Investment to ₦320 Billion

By Ezinwanne Onwuka (Senior Reporter)May 23, 2025

Renowned businessman and Chairman of First HoldCo Plc, Femi Otedola, has revealed plans to increase his personal investment in the financial institution to over ₦320 billion, all in cash and with no loans involved. He made this known at the company’s 13th Annual General Meeting held in Lagos, where shareholders gathered to hear updates on the bank’s progress and future direction. In his remarks, Otedola was full of praise for President Bola Tinubu’s economic reforms,...

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Aliko Dangote Makes TIME100 Philanthropy 2025

EducationNewsNigeriaAliko Dangote Makes TIME100 Philanthropy 2025

By Ezinwanne Onwuka (Senior Reporter)May 22, 2025

Nigerian industrialist and Africa’s richest man, Aliko Dangote, has been named to the prestigious TIME100 Philanthropy 2025 list, a recognition of global changemakers redefining the landscape of giving through bold and impactful initiatives. Dangote, founder and president of the Dangote Group, was celebrated for his transformative contributions to health, education, and poverty alleviation through the Aliko Dangote Foundation (ADF), Africa’s largest private philanthropic organisation. Since endowing the foundation with $1.25 billion in 2014, Dangote has...

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NELFUND Urges South East to Key into Education Interest-Free Loan Scheme

BusinessNewsNigeriaNELFUND Urges South East to Key into Education Interest-Free Loan Scheme

Ije Ulasi (Regional Correspondent)May 16, 2025

The Managing Director/Chief Executive of the Nigerian Education Loan  Fund (NELFUND), Mr. Akintunde Sawyerr  urge  parents, the Academia, Traditional Rulers and students in the South East zone of Nigeria to key into the interest – free educational loan scheme provided by the Federal Government of Nigeria. Mr. Sawyerr made this call at the strategic engagement session with key stakeholders held on Thursday at the Old Government Lodge in Enugu The interactive session aimed at deepening...

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Nigeria’s Inflation Rate Eases to 23.71% in April, Says NBS

BusinessNewsNigeriaNigeria’s Inflation Rate Eases to 23.71% in April, Says NBS

By Ezinwanne Onwuka (Senior Reporter)May 15, 20251

Nigeria’s headline inflation rate declined slightly to 23.71 per cent  in April 2025, down from 24.23 per cent recorded in March, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS) on Thursday. The NBS noted that the 0.52 percentage point drop indicates a modest easing of inflationary pressures in Africa’s largest economy. On a month-on-month basis, the headline inflation rate stood at 1.86 per cent in April,...

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Nigerian Stock Market Recovers with ₦101 Billion Gain

BusinessNewsNigeriaNigerian Stock Market Recovers with ₦101 Billion Gain

By Ezinwanne Onwuka (Senior Reporter)April 10, 2025

On Tuesday, the Nigerian stock market saw a positive change, recovering ₦101 billion after several days of losses. The total value of all the stocks on the market rose by ₦101 billion, ending the day at ₦65.589 trillion, up from ₦65.488 trillion on Monday. The stock market’s key index also went up by 159.88 points, closing at 104,376.75, a small but welcome rise from the previous day. However, not all stocks performed well. While some...

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CBN Reports $6.83bn Balance of Payments Surplus in 2024

BusinessNewsNigeriaCBN Reports $6.83bn Balance of Payments Surplus in 2024

By Ezinwanne Onwuka (Senior Reporter)April 10, 2025

The Central Bank of Nigeria (CBN) has announced a remarkable turnaround in the country’s external financial standing, recording a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year. This marks a significant recovery from a deficit of $3.34 billion in 2023 and $3.32 billion in 2022. According to a press release on 9 April 2025, the CBN stated that the surplus “reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance,...

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Forbes Names Dangote, Adenuga, Rabiu, Otedola Among Africa’s Richest

BusinessNewsNigeriaForbes Names Dangote, Adenuga, Rabiu, Otedola Among Africa’s Richest

By Ezinwanne Onwuka (Senior Reporter)March 31, 2025

Four Nigerian billionaires—Aliko Dangote, Mike Adenuga, Abdulsamad Rabiu, and Femi Otedola—have been named in Forbes’ 2025 list of the richest individuals in Africa. According to the ranking published on Saturday, Dangote, the President and CEO of the Dangote Group, remains Africa’s richest man for the 14th consecutive year. His net worth surged from $13.9 billion in 2024 to $23.9 billion in 2025, largely due to the valuation of his Lagos-based refinery, which began operations last...

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133 Arrested as EFCC Shuts Down Ponzi Scheme Academy in Abuja

BusinessCrime & SecurityNewsNigeria133 Arrested as EFCC Shuts Down Ponzi Scheme Academy in Abuja

By Ezinwanne Onwuka (Senior Reporter)March 25, 2025

The Economic and Financial Crimes Commission (EFCC) has broken up a Ponzi scheme operating under the name Q University, also known as Q-Net, and arrested 133 suspects in Abuja. According to a statement by the anti-graft agency, the suspects were apprehended on Monday, 24 March 2025, at Compensation Layout in Gwagwalada, Federal Capital Territory (FCT), following intelligence reports on the academy’s operations. The EFCC described the academy as a fraudulent recruitment centre where unsuspecting young...

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House of Reps Opposes Increase in ATM Charges

BusinessNewsNigeriaPoliticsHouse of Reps Opposes Increase in ATM Charges

By Ezinwanne Onwuka (Senior Reporter)March 11, 2025

The House of Representatives has called on the Central Bank of Nigeria (CBN) to suspend its directive increasing ATM withdrawal charges, citing the potential financial burden on Nigerians. The resolution followed a motion on urgent national importance moved by Rep. Marcus Onobun (Esan Central/West/Igueben Federal Constituency) during plenary on Tuesday. Onobun warned that the increase in ATM withdrawal charges would negatively impact financial inclusion, especially for low-income earners who might be discouraged from using banking...

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