Daily Business Reporter

The Nigeria Revenue Service has cautioned Nigerians against a misleading online infographic promoting a fake website and falsely claiming the introduction of a new vehicle tax. The warning was issued in a statement by the agency’s spokesperson, Mr Dare Adekambi, amid rising concerns over misinformation surrounding tax policies and government directives. According to the NRS, […]

The Nigerian Exchange (NGX) ETF segment recorded a broad-based downturn in the week ended April 24, 2026, as all listed Exchange Traded Funds (ETFs) closed in negative territory, reflecting weak investor sentiment and sustained sell pressure across the market. Data from NGX trading activity showed that despite an increase in total trading volume, the overall

Nigeria’s defence expenditure recorded a sharp increase in 2025, rising by 55% year-on-year to $2.1 billion, as worsening security challenges across the country drove higher military spending, according to a report by the Stockholm International Peace Research Institute. The report ranks Nigeria among the fastest-growing military spenders globally, underscoring how internal security pressures are reshaping

The Nigerian Exchange Limited has levied a total of N562.6 million in penalties on 32 listed companies for failing to meet deadlines for submitting audited and unaudited financial statements during the 2024/2025 financial year. The sanctions were disclosed in the latest X-Compliance Report released on April 24, 2026, by NGX Regulation Limited, highlighting cumulative penalties

Nigeria’s external reserves declined by approximately $731 million within the first three weeks of April 2026, highlighting sustained pressure on the country’s foreign exchange buffers. Data from the Central Bank of Nigeria shows reserves fell from $49.18 billion on April 1 to $48.45 billion as of April 23, representing an average weekly decline of about

CBN Removes Charges on Key Banking Services in New Consumer-Focused Reforms The Central Bank of Nigeria (CBN) has announced the removal of charges on several routine banking services as part of a sweeping reform aimed at reducing costs and promoting financial inclusion. The new policy, contained in the revised Guide to Charges by Banks and