January 26, 2026

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Finance

Tax Reform Acts Controversy: House Releases CTCs as Minority Insists Laws Were Altered

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Nigeria’s House of Representatives has released the Certified True Copies of the 2025 Tax Reform Acts, declaring an end to controversy over alleged post-passage alterations. However, the Minority Caucus insists discrepancies remain between the versions passed by lawmakers and earlier gazetted copies, renewing debate over legislative authority, due process, and the integrity of Nigeria’s law-making process....

Tax Reform Chaos: 48 Hours In, Nigeria Enforces a New Regime Amid Law, Trust and Legitimacy Crisis

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Barely 48 hours into Nigeria’s new tax regime, controversy has shifted from policy to legitimacy. Allegations that the gazetted tax laws differ from what lawmakers passed have triggered confusion among businesses and citizens, even as President Bola Tinubu insists enforcement must continue. Critics warn Nigeria may already be collecting taxes under a law whose credibility is in dispute....

CBN Removes Cash Deposit Limits but Maintains Harsh Withdrawal Caps in 2026 Policy Shift

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The Central Bank of Nigeria has abolished all cash-deposit limits for bank customers under a new policy taking effect January 1, 2026. But while customers can now deposit any amount freely, strict weekly withdrawal caps remain in place—₦500,000 for individuals and ₦5m for corporates—deepening nationwide debate over the future of cash, liquidity access and Nigeria’s evolving cashless economy....

Auditor-General Uncovers N61bn and $51m Questionable NNPCL Payments in Explosive New Report

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Nigeria’s Auditor-General has uncovered over N61bn and $51m in financial irregularities linked to the NNPCL, including undocumented payments, unauthorised virements, procurement breaches, abandoned projects, and weak internal controls. The report, transmitted to the National Assembly, demands urgent recovery and sanctions....

Tinubu Economy Reboot: FG Targets 500 CNG Stations as Manufacturers Flee Bank Loans

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Nigeria’s economic landscape is shifting as the federal government launches a plan for 500 CNG stations in three years while manufacturers abandon expensive bank loans for bonds and retained earnings. The dual transition—energy reform and corporate financing realignment—signals a new phase in the Tinubu administration’s push to stabilise fuel costs, reduce inflation and cut industrial debt risks....

HOUSE OF REPS WARNS EFCC: STOP PROFILING CRYPTO TRADERS AS FRAUDSTERS

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The Nigerian House of Representatives has issued a direct warning to law enforcement agencies, telling them to stop profiling cryptocurrency traders as fraudsters. Lawmakers at Monday’s crypto regulation hearing said the era of “innovation by suspicion” must end — urging the EFCC and NFIU to evolve from intimidation to intelligent oversight....

NAIRA STUMBLES TO ₦1,470/$ AS INFLOWS THIN — FX MARKET BRACES FOR PRESSURE

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After weeks of relative calm, the naira slipped across both official and parallel markets on Monday, closing at ₦1,470.26/$ at the Nigerian Foreign Exchange Market. Analysts link the dip to reduced weekly inflows and delayed portfolio remittances, warning that the currency’s stability could be tested again if inflows fail to rebound....

CBN SLAMS POS OPERATORS WITH ₦1.2 MILLION DAILY LIMIT — DIGITAL OVERSIGHT TIGHTENS

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The Central Bank of Nigeria (CBN) has rolled out sweeping new rules capping Point-of-Sale (POS) agent transactions at ₦1.2 million per day. It’s the boldest step yet in Nigeria’s drive to sanitise the fintech space, strengthen oversight, and push the nation toward a fully cashless economy....

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