Market Updates

Virtual currency now taxable under new fiscal reform law – Oyedele  The Presidential Fiscal Policy and Tax Reforms Committee has disclosed that virtual currencies, including cryptocurrencies, will be subject to taxation under Nigeria’s new tax reform framework. Chairman of the committee, Taiwo Oyedele, made the disclosure during an online public... Read More →

CBN declares Zuldal MFB illegal, cautions Nigerians  The Central Bank of Nigeria (CBN) has issued a formal disclaimer disowning Zuldal Microfinance Bank Limited, warning that the entity is operating illegally and without any form of regulatory approval. In a statement on Thursday by the Acting Director of Corporate Communications, Hakama... Read More →

Reforms position Nigeria as continental trade powerhouse PRESIDENT Bola Tinubu has said that the Federal Government’s trade reforms, including the exchange rate unification, fuel subsidy removal, and port modernisation, among others, were designed to create a trade-friendly environment that could compete globally and power Nigeria’s continental ambitions. This is even... Read More →

Pension fund soars to N26tn Nigeria’s pension fund assets recorded 22.03 per cent growth as of the end of the third quarter, as they rose by more than N4.71tn, with Pension Fund Administrators deepening their allocation to Federal Government securities, according to the latest monthly data released by the National... Read More →

IPMC: Zenith, Access Bank, Others Driving ESG in Financial Sector  The 2025 IPMC ESG Ratings Reporthasrevealed that Zenith Bank Plc, Stanbic IBTC Holdings Plc, and Access Holdings Plc led the Nigeria’s financial sector as strongest performer in governance maturity.  IPMC in thereport disclosed that a framework was used to evaluate a company’s... Read More →

Amidst Spiralling OPEX, AMCON, NDIC Rake N839.9bn from Seven Banks Amid rising operating expenses in the financial sector, seven big banks in the country spent an estimated N839.9 billion on Asset Management Corporation of Nigeria (AMCON) and Nigeria Deposit Insurance Corporation (NDIC) expenses in the nine months of 2025. This represents about 38.4 per cent... Read More →