Starting January 1, 2026, Nigeria’s new tax law will introduce tougher penalties for individuals and businesses that fail to comply with tax rules. The Nigerian Tax Act 2026, signed by President Bola Tinubu on June 26, 2025, is aimed at improving tax compliance, strengthening revenue collection, and modernising the country’s tax system. The law sets

Putting N5 million to work in December 2025 shouldn’t be a random pick of “hot” assets. A more innovative approach is to align your money with your goals, your risk tolerance, and the realities of Nigeria’s current economy. Right now, one simple rule can guide your thinking: any risky investment must aim to beat what

From January 1, 2026, Nigeria’s tax system will enter a new phase, one designed to close loopholes, punish tax offenders, and strengthen revenue collection across the country.  The Nigerian Tax Act 2026, signed by President Bola Tinubu in June 2025, introduces some of the toughest penalties seen in years. The goal is simple: improve fairness

The Federal Government has instructed ministries, departments and agencies (MDAs) to roll over 70% of their 2025 capital budget into the 2026 fiscal year.  This move is aimed at ensuring ongoing projects are completed, especially as the government faces revenue constraints and mounting fiscal pressures. The directive is contained in the 2026 Abridged Budget Call

There is a revolution happening across Nigeria — quiet, unregistered, and massively underestimated. It is not in industrial hubs or corporate corridors. It is happening on WhatsApp, TikTok, Instagram, Facebook Marketplace, and Telegram. Here, millions of Nigerians are building businesses without shops, without capital-intensive structures, and without waiting for government support. They are the digital

Business Day, established in 2001, is a daily business newspaper based in Lagos. It is the only Nigerian newspaper with a bureau in Accra, Ghana. It has both daily and Sunday titles. It circulates in Nigeria and Ghana... Read More... Phone: +234-813-346-4051 | +234-803-322-5506 |+234-802-601-1296

The days of treating tax non-compliance as a purely administrative matter are over, as Nigeria’s new tax legislation introduces stringent penalties, including a N10 million fine and imprisonment for up to 10 years for physically assaulting a tax officer. According to the new tax law, non-compliance by virtual asset service providers attracts a fine of

Banks’ deposits with the Central Bank of Nigeria (CBN) have risen sharply, reaching N2.9 trillion and marking the highest level since the last Monetary Policy Committee (MPC) meeting held on November 24 and 25, 2025, in Abuja. The deposits, placed through the Standing Deposit Facility, signal a significant shift in liquidity conditions across the financial

Former Vice President Atiku Abubakar on Monday charged Nigerian politicians to imbibe the virtues of the late Shehu Musa Yar’Adua, who fought for transparent governance, institutions that serve citizens rather than exploit them, and a political culture that honours merit above mediocrity. Atiku, speaking in Abuja at the launch of a new civic anthology titled

Nigeria’s economy is becoming stronger, and the latest report from the National Bureau of Statistics shows that most of this growth is coming from non-oil sectors.  In the third quarter of 2025, the country recorded a 3.98% rise in GDP, and more than 96% of this came from activities outside the oil industry. This confirms

The Federal Government has launched a new Student Venture Capital Grant aimed at helping Nigerian students turn promising ideas into real businesses, with a total funding pool of N3 billion set aside for the programme. The initiative is designed to provide equity-free support of up to N50 million for eligible student-led innovations. The scheme was

A Federal High Court in Abuja has declined an ex parte application filed by the detained leader of the proscribed Indigenous People of Biafra (IPOB), Nnamdi Kanu, seeking to be transferred from the Sokoto Correctional Centre to a facility closer to the Federal Capital Territory. Kanu, through a lawyer from the Legal Aid Council of