Lagos: LIRS extends individual tax return deadline to April 14
The Lagos State Internal Revenue Service Lagos State Internal Revenue Service has extended the deadline for individual tax returns to April 14, 2026. This gives taxpayers extra time beyond the earlier April 1 deadline to properly file their returns. The agency explained that the extension will help individuals complete their filings without errors or pressure. […]
Recapitalization: Why First HoldCo profit crashed by 92 per cent — Chairman, Otedola
Billionaire investor and Chairman of First HoldCo, Femi Otedola, has explained the sharp 92 per cent drop in the company’s profit for the 2025 financial year, linking it to deliberate clean-up actions ahead of the Central Bank of Nigeria’s 2026 recapitalisation deadline. According to Otedola, the decline was not due to weak business performance but […]
Nigeria’s inflation eases to 14.45% despite rising food prices
Nigeria’s inflation rate has eased to 14.45 percent, offering a small relief to households and businesses struggling with high living costs. The latest figure shows a slowdown in overall price increases compared to previous months, even though food prices continue to rise across many parts of the country. Experts say the decline suggests that price […]
Nigerian firms push NGX to historic 1,516.10 basic points, N963bn gain
The Nigerian Exchange Limited (NGX) witnessed a remarkable surge on Tuesday as key firms, including SCOA Nigeria, Omatek, Consolidated Hallmark Holdings, BUA Foods, and Vitafoam, pushed the market to a historic high of 151,456.91 basis points. Investors recorded an impressive N963 billion gain, extending the bullish momentum seen in recent weeks. According to market data, […]
Naira records second straight depreciation against US dollar
The Nigerian Naira continued its slide against the US dollar on Thursday, marking the second day in a row of depreciation in the official foreign exchange market. According to figures from the Central Bank of Nigeria (CBN), the Naira closed at ₦1,498.98 per dollar, weaker than Wednesday’s rate of ₦1,494.03. This represents a daily drop […]
CBN Increases ATM Withdrawal Charges to N100, N450
The Central Bank of Nigeria (CBN) has raised the charges for ATM withdrawals, meaning customers will pay more when using ATMs, especially at other banks. According to a circular signed by John Onojah, the acting director of the financial policy and regulation department at CBN, the new charges will begin on March 1. Here’s a […]
CBN Confirms Old Naira Notes Will Remain Valid Indefinitely, Denies December 2024 Deadline
The Central Bank of Nigeria (CBN) recently issued a statement reassuring the public that the old Naira banknotes, specifically the N200, N500, and N1,000 denominations, will remain valid and in circulation indefinitely. This clarification comes in response to growing concerns and confusion about the potential withdrawal of these banknotes by December 31, 2024, as previously […]