The Central Bank of Nigeria (CBN) says its gold reserves have increased to $3.5 billion following the acquisition of newly refined gold that meets the London Bullion Market Association (LBMA) Good Delivery standards. In a statement issued on Wednesday, March 4, the apex bank said the gold was sourced locally through the national gold purchase…
The Federal Government has outlawed the use of roadblocks for collecting taxes and levies across the country and introduced a new Presumptive Tax Framework (PTF) aimed at formalising millions of small and informal businesses. The initiative is designed to simplify tax compliance for traders, artisans and micro enterprises by creating a more straightforward payment system.…
A growing gap between home sellers and buyers is reshaping the U.S. housing market. In January, there were about 600,000 more sellers than buyers nationwide — a 44% difference — according to a new analysis by Redfin. The New York Post reported that this represents the second-largest imbalance since Redfin began tracking the data in…
The Lagos State Government has approved a 13 per cent fare increase across all Bus Reform Initiative (BRI) services, covering both Bus Rapid Transit (BRT) and standard routes. In a statement issued on February 23, the Lagos Metropolitan Area Transport Authority (LAMATA) said Governor Babajide Sanwo-Olu granted the approval following appeals from regulated public transport…
Anambra State Governor, Chukwuma Soludo, has ordered the immediate remodelling of the Onitsha Main Market, describing the move as a “hard but necessary” decision following the market’s one-week closure. The directive came after the governor’s recent inspection of the market, which he said had fallen into severe disrepair. Once regarded as the largest market in…
Meta has announced plans to test paid subscription services across its platforms, including Instagram, Facebook and WhatsApp, offering users access to exclusive features while keeping core services free. According to TechCrunch, the technology giant said the subscriptions would introduce premium tools and give users “more control over how they share and connect” on its platforms.…
The Central Bank of Nigeria (CBN) has approved the temporary use of expired National Agency for Food and Drug Administration and Control (NAFDAC) licences by importers for import documentation purposes. In a circular dated January 26, 2026, issued by the apex bank’s Trade and Exchange Department and published on its website on Tuesday, the CBN…
The Trade Union Congress of Nigeria (TUC) and the Nigeria Labour Congress (NLC) have issued a 14-day ultimatum to the Federal Ministry of Health and relevant government agencies over the non-implementation of the Consolidated Health Salary Structure (CONHESS), warning that failure to act will trigger a nationwide strike. In a joint statement signed by…
The Federal Competition and Consumer Protection Commission (FCCPC) has begun a phased enforcement of regulatory measures against Digital Money Lending (DML) operators that failed to regularize their operations under the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations). In a statement issued on Wednesday, the Commission’s spokesperson, Ondaje Ijagwu, said the…
Nigeria’s banking sector is undergoing one of its most transformative periods in decades. In March 2024, the Central Bank of Nigeria (CBN) introduced new minimum capital requirements for banks, giving them until 31 March 2026 to raise additional capital. The aim is to create larger, more resilient banks capable of supporting major projects, strengthening the…
