Market Updates

Tax Act spells out N10m penalty, 10-year jail term for offenders 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.... Read More →

Nigeria centralises revenue flows in boldest overhaul since TSA The federal government has launched its most ambitious public finance reform in more than a decade, unveiling a unified revenue platform that integrates the Treasury Single Account (TSA), the Government Integrated Financial Management Information System (GIFMIS), the Central Bank of Nigeria... Read More →

FX market records mild naira depreciation to N1,451.86/$ Nigeria’s currency weakened slightly at the official market on Monday, as the Nigerian Foreign Exchange Market rate closed at 1,451.86/$ from 1,450.43/$ recorded on Friday. According to data from the NFEM daily exchange summary available on the website of the Central Bank... Read More →

How CBN-led FX Reforms Support Economic Growth, Non-oil Export Expansion The ongoing drop oil-prices is being cushioned by the Central Bank of Nigeria (CBN)-led FX reforms as seen in the flexible foreign exchange (FX) regime, rising non-oil exports, and growing services trade. The CBN deployment of the Electronic Forex Market Surveillance... Read More →

Capital Gain Tax Implementation Fear Rattles Stock Market as 10 Firms Shed N4.95trn Investors in the Nigeria equities market have continued to take flight as the January 2026 take off of the newly introduced capital gain tax draws closer. At the close of trades for the month of November, the market... Read More →

FSL Insurance Brokers unveils mobile app FSL Insurance Brokers Limited has officially launched FSL Insure, a new mobile and web application designed to simplify, modernise, and expand access to insurance products for individuals and businesses nationwide. According to a statement from the insurance brokerage firm on Sunday, the new app... Read More →