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TCN raises alarm about increasing vandalism incidents in Niger State
Politics
1 sources

TCN raises alarm about increasing vandalism incidents in Niger State

By Obas Esiedesa, Abuja The Transmission Company of Nigeria (TCN) has raised concerns over increasing vandalism of power transmission infrastructure in parts of Niger State, warning that the trend poses serious economic, safety and electricity supply challenges. Speaking during ...

VAT and CIT revenue declines 6% to N3.79 trillion in Q1 2026
Economy
1 sources

VAT and CIT revenue declines 6% to N3.79 trillion in Q1 2026

By Elizabeth Adegbesan Revenue generated from Value Added Tax, VAT,  and Company Income Tax, CIT,  fell year-on-year (YoY) by 6.2 percent to N3.79 trillion  in the first quarter of 2026 (Q1’26) from N4.04 trillion in Q1’25. The National Bureau of Statistics, NBS,  di...

CBN orders fintechs, banks to localise payment data, caps market dominance
Economy
1 sources

CBN orders fintechs, banks to localise payment data, caps market dominance

•Mandates beneficial ownership disclosure •Sets 25% threshold, 15% cross-market cap •Compliance deadline set for Dec. 31, 2026 By Babajide Komolafe The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all paym...

Cardoso introduces Nigeria's new Overnight Financing Rate
Politics
1 sources

Cardoso introduces Nigeria's new Overnight Financing Rate

•Provides benchmark for pricing loans, deposits By Emma Ujah, Abuja Bureau Chief  The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, yesterday, launched the Nigerian Overnight Financing Rate (NOFR), to guarantee greater transparency in the financial ma...

Today's Dollar to Naira exchange rate for June 16, 2026
Economy
1 sources

Today's Dollar to Naira exchange rate for June 16, 2026

The Nigerian naira remained stable against the US dollar on June 16, 2026, in both the official and parallel markets. This stability reflects a consistent exchange rate environment for the currency.

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