Tax reform law: Banks to report transactions above N5m monthly

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…

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IMF commend CBN’s reforms, naira stability

The International Monetary Fund (IMF) has endorsed Nigeria’s recent financial sector reforms, particularly those led by the Central Bank of Nigeria (CBN) under Governor Olayemi Cardoso. In its 2025 Article IV Consultation report, the Fund praised sweeping changes to the foreign exchange regime, monetary tightening, and banking sector recapitalisation, all of which have contributed to…

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Nigerian importers, exporters dollars-transactions negating currency swap gains —CBN

The Governor of the Central Bank of Nigeria, Olayemi Cardoso during a recent meeting with maritime journalist highlighted the gains of the Nigeria-China Currency Swap Deal. represented by his Special Adviser; Mr. Anthony Ogufere, the CBN Governor reeled out challenges that have inhibited the deal. TOLA ADENUBI reports. Can you explain the importance of today’s…

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ACCI President Calls For Tight Fiscal Policy Implementation To Protect Emerging Sectors Of The Economy

The Abuja Chamber of Commerce and Industry (ACCI) has commended the Central Bank of Nigeria’s (CBN) forex policy to unify the foreign exchange saying it is a welcomed development and a big step towards improving the ease of doing business in Nigeria. Speaking on the new policy, the President of ACCI, Dr Al-Mujtaba Abubakar stated…

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