Nigeria News

IMF Intensifies Efforts to Track Illicit Financial Flows and Support Nigeria’s Fiscal Stability

The International Monetary Fund (IMF) has reaffirmed its commitment to assisting Nigeria and other developing nations in tracing and curbing Illicit Financial Flows (IFFs), a persistent challenge undermining fiscal stability and economic growth.IMF Managing Director, Kristalina Georgieva, highlighted this during a recent policy dialogue on governance and fiscal resilience, emphasizing that strengthening transparency and improving …

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Nigeria’s Non-Interest Capital Market Hits ₦1.6 Trillion — SEC

Nigeria’s non-interest capital market has continued its upward trajectory, reaching a valuation of ₦1.6 trillion, according to the Securities and Exchange Commission (SEC). The development reflects growing investor confidence and a deepening commitment to ethical, Sharia-compliant finance, which is fast becoming a key pillar in Nigeria’s evolving financial landscape. The announcement was made by the …

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Nigeria’s IGR Rises by 49% — Lagos, Rivers, and FCT Lead the Pack

Nigeria’s fiscal outlook continues to evolve as new data from the National Bureau of Statistics (NBS) reveals that the thirty-six states and the Federal Capital Territory generated a total of ₦3.63 trillion as Internally Generated Revenue (IGR) in 2024, reflecting a remarkable 49.70 percent growth rate from the ₦2.43 trillion recorded in 2023. This performance …

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DPH Facilitates $268.63 Million Funding for Taraba State from ECOWAS Bank

Deutsche Partners Holding (DPH) is proud to announce its pivotal role as Financial and Transaction Adviser in securing a landmark $268.63 million funding package from the ECOWAS Bank for Investment and Development (EBID) for Taraba State, Nigeria. This milestone transaction represents a major step forward in unlocking Taraba State’s economic potential and advancing sustainable development across the …

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Nigeria’s Stock Market Attracts N1.3 Trillion in Foreign Investment in 7 Months

Nigeria’s stock market continues to draw strong attention from global investors, with foreign inflows reaching N1.3 trillion in just the first seven months of the year. This surge marks a renewed confidence in the country’s capital market, as international players seek opportunities in Africa’s largest economy despite global uncertainties. The latest report released by the …

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Union Bank of Nigeria Completes Merger with Titan Trust Bank

In a significant development in Nigeria’s financial sector, Union Bank of Nigeria has announced the successful completion of its merger with Titan Trust Bank Limited. The merger, which was approved by the Central Bank of Nigeria (CBN), marks a major milestone in the bank’s 108-year history. The merger, which began with the signing of a …

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Nigeria’s New Tax Laws Take Effect January 1, 2026

Nigeria will officially enter a new tax era on January 1, 2026, following the signing into law of four major reform bills by President Bola Ahmed Tinubu. These include the Nigeria Tax Act, the Tax Administration Act, the Nigeria Revenue Service Establishment Act, and the Joint Revenue Board Act. Together, they reshape the country’s fiscal …

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FG Approves Strategic Tax Incentives to Boost Use of Local Raw Materials in Manufacturing

At the 2025 Nigeria Manufacturing & Equipment and Nigerian Raw Materials (NME–NIRAM) Expo held in Lagos, the Federal Government of Nigeria announced a major policy shift aimed at encouraging the use of locally sourced raw materials in the manufacturing sector. The Minister of Innovation, Science and Technology, Chief Uche Nnaji, disclosed that the government has …

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Nigeria’s Capital Importation Rises 67.12% YoY in Q1 2025

Nigeria’s capital markets demonstrated renewed vitality in the first quarter of 2025, with the National Bureau of Statistics confirming total capital importation reached US $5.64 billion, representing a 67.12 percent year-on-year increase from Q1 2024 and a 10.86 percent gain over Q4 2024 . Portfolio investments dominated this uptick, delivering US $5.20 billion, or 92.25 percent of the total inflows, while Other Investment …

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UAC Acquires Chivita and Hollandia Maker from Coca-Cola in Strategic Deal

In a strategic realignment of its global business portfolio, The Coca-Cola Company has made an agreement to divest it’s entire stake in CHI Limited producers of the Chivita and Hollandia brands to UAC of Nigeria PLC. The transaction, subject to regulatory approvals and closing conditions, represents a significant milestone in Nigeria’s fast-moving consumer goods (FMCG) sector. CHI Limited, …

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