Business Archives - Page 5 of 31 - Independent Digital News Network

What Emefiele Told Buhari: Memo Reveals Naira Redesign Approval Trail

A memo submitted by former Central Bank Governor Godwin Emefiele to then President Muhammadu Buhari has surfaced, outlining the approval process behind Nigeria’s controversial naira redesign. The document, now cited in court proceedings, traces institutional consent at the highest level and intensifies scrutiny of responsibility, due process, and the legal weight of executive approval in one of Nigeria’s most disruptive monetary decisions.

FCT Strike Ends as NLC, TUC Direct Workers to Resume

IDNN3 months ago3 months ago0

The industrial action that paralysed parts of the Federal Capital Territory has ended after the Nigeria Labour Congress and the Trade Union Congress directed workers to resume duties. The decision followed negotiations with the FCT Administration, raising expectations of restored public services while shifting attention to whether agreed terms will be implemented beyond the immediate return to work.

FG to Share Electricity Subsidy Burden With States From 2026

IDNN3 months ago3 months ago0

The Federal Government has announced plans to share electricity subsidy costs with state and local governments from 2026, ending the long-standing practice of carrying the burden alone. Officials say the move is aimed at transparency and fiscal discipline, as Nigeria grapples with mounting power-sector debt and seeks to stabilise an electricity market strained by unpaid subsidies.

Onitsha Traders Reopen Market as Army Warns IPOB/ESN Remnants

IDNN3 months ago3 months ago0

Commercial activity has resumed at the Onitsha Main Market after years of disruption, as traders returned amid renewed security assurances from the Nigerian Army. The move follows sustained operations against violent groups in the South-East and marks a critical test of confidence in security efforts, economic recovery, and the state’s ability to restore normalcy in one of Nigeria’s largest trading hubs.

Onitsha Main Market Reopens as Soludo Defies Sit-at-Home Order

IDNN3 months ago3 months ago0

Onitsha Main Market reopened on Monday under heavy security as Anambra State Governor Chukwuma Soludo moved to enforce economic activity despite a sit-at-home order. The decision pits state authority against disruption fears, reopening debate about governance, security enforcement, and how long traders can absorb economic paralysis in Nigeria’s major commercial hubs.

Health Minister: Prayers Won’t Fix Nigeria’s Healthcare System

IDNN3 months ago3 months ago0

Nigeria’s Health Minister has warned that faith alone cannot resolve the country’s deep healthcare challenges, arguing that structural reforms, sustained funding, and accountability are required to reverse decades of underinvestment. The remarks reopen debate on how Nigeria balances belief, policy, and evidence-based planning as pressure mounts on hospitals, health workers, and patients nationwide.

JP Morgan Backs Afreximbank Bonds After Fitch Downgrade

IDNN3 months ago3 months ago0

Investor confidence around Afreximbank bonds came into focus after JP Morgan publicly backed the lender’s debt despite a recent downgrade by Fitch Ratings. The move highlights diverging views within global markets on African development finance risks, even as rating agencies reassess exposure amid tightening global financial conditions.

Tax Laws Controversy: Reps Spokesman Rejects Ndume’s Falsification Claims

IDNN3 months ago3 months ago0

Nigeria’s tax laws controversy intensified after the House of Representatives rejected claims that newly enacted tax reforms were falsified. The rebuttal followed allegations by Senator Ali Ndume, reopening questions around legislative transparency, internal review processes and how disputes over major fiscal reforms are resolved within Nigeria’s lawmaking system.

IMF Global Growth Outlook 2026 Nigeria Ranks Among Top Contributors

IDNN3 months ago3 months ago0

Nigeria has been listed among the world’s top contributors to global economic growth in 2026, according to the International Monetary Fund. The IMF global growth outlook 2026 Nigeria projection places the country ahead of several advanced economies in the Fund’s latest ranking and underscores a wider shift toward emerging markets as the main engines of world expansion.

Nigeria’s Tax Deadline Is Closer Than It Looks — What the Annual Returns Rule Really Means

IDNN3 months ago3 months ago0

As Nigeria’s annual tax filing deadline approaches, authorities are intensifying compliance efforts, warning individuals and businesses against late submissions. The push is part of a broader reform drive to expand the tax base and improve transparency. For many taxpayers, however, confusion remains over who must file, what qualifies as compliance, and what penalties apply.