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They said the losses stemmed from harmful tax practices affecting their economies. The post Africa Loses $89bn Annually To Illicit Financial Flows — Tax Experts appeared first on Channels Television.
Analysts predict an increase in inflation for April 2026, suggesting that the Central Bank of Nigeria may maintain its current interest rates. This projection reflects ongoing economic challenges and the need for careful monetary policy.
Nigeria's Tier-1 banks have increased their deposits to N114 trillion, showcasing strong customer confidence. However, lending activities have slowed down, indicating a cautious approach in the banking sector.
The Africa Financial Summit (AFIS) will host its 2026 edition in Luanda, focusing on growth financing and economic resilience. This event aims to bring together finance industry leaders to discuss strategies for enhancing Africa's economic stability.
A recent study highlights that youth-led MSMEs in sub-Saharan Africa are struggling with digital maturity. This raises concerns about their competitiveness and growth potential in the digital economy.
The SEC has raised concerns about the rise of Ponzi schemes on social media, warning the public to be cautious. These schemes often disguise themselves as legitimate investment opportunities.
Nigeria's domestic crude supply surged in April, with local sources providing 17.96 million barrels. This marks a significant reduction in imports, which fell to just 410,000 barrels.
The implementation of the Nigeria Tax Act (NTA) is set to serve as a watershed in the Nigerian tax landscape, read more The Nigeria Tax Act 2025: A breath of fresh air for Stamp Duty Tax
Short-term traders do not need a calm market — they need a market that is moving for a clear reason. read more IQ Broker Turning Volatility into Short-Term Opportunities
The Kano State Assembly has expressed alarm over a Tuta Absoluta tomato pest outbreak that is severely damaging farms. This situation is leading to significant crop losses across the state.
India has decided to bar sugar exports until September due to concerns over its upcoming harvest. This decision is influenced by potential adverse weather conditions linked to the El Niño pattern.
The BRICS meeting in India is focusing on the Iran War and its impact on oil markets. Disruptions in Gulf shipping routes are increasing pressure on energy-importing economies like India.
The Debt Management Office has successfully listed a N47.36 billion Series III Sovereign Green Bond on the Nigerian Exchange and FMDQ Securities Exchange. This bond, with an interest rate of 18.95%, is due in June 2030.
Lagos State Government is preparing for the 'Invest in Lagos 3.0' investment forum, aiming to attract N4 trillion in investments. The event is scheduled for June 8-9, 2026, and seeks to draw both local and foreign investors.
The SEC is focusing on data, AI, and technology to enhance investment decisions in Nigeria's capital market. This initiative aims to attract more investors and improve regulatory practices.
The Nigerian naira showed mixed results against the US dollar on May 14, 2026, influenced by liquidity conditions and Central Bank interventions. Traders are closely observing the market dynamics.
Nigeria's oil output has increased slightly to 1.489 million bpd in April 2026, up from 1.383 million bpd in March 2026. However, this remains below the country's OPEC quota.
To stay relevant in a fast-evolving global economy, Bello Hassan, the former managing director at NDIC, has advised Nigerian accountants read more Bello Hassan urges accountants to embrace digital skills for career opportunities
The Emirates Group has announced record-breaking financial results for the 2025-26 fiscal year, with Emirates retaining its position as the read more Emirates retains world’s most profitable airline after record $6.6bn group profit
Nigeria has spent N6.54 trillion on importing vehicles and auto parts over the past two years. This significant expenditure highlights the country's growing reliance on foreign transport equipment.
Chief Judge John Tsoho has expressed concern over conflicting court rulings that could destabilize Nigeria's banking sector. He warns that inconsistent judicial decisions in financial disputes may lead to systemic instability.
The Naira has appreciated to N1,388 per dollar in the parallel market, improving from N1,395. This rise reflects a positive shift in the currency's value.
Nigeria's reliance on petrol imports is decreasing as local refineries, particularly the Dangote Refinery, increase production. In April, domestic plants operated at over 99% capacity, signaling a positive shift in the country's fuel supply.
The article from BusinessDay discusses various topics relevant to the Nigerian economy. It highlights recent trends and developments that could impact businesses in the country.
A report suggests that Nigeria's debt burden is overstated due to foreign exchange volatility and accounting reforms. It highlights that real debt increased by only 3% over three years, attributing pressure to interest rates and Naira devaluation rather than new borrowing.
Nigeria achieved its highest oil production in 2026, reaching 1.66 million barrels per day in April. This comes despite falling short of the OPEC quota of 1.5 million bpd.
The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a significant MoU to enhance data sharing. This collaboration aims to improve economic decision-making in the country.
Nigerian workers are calling for a new minimum wage amidst ongoing discussions about labor welfare. The gap between political promises and the actual socio-economic conditions remains a significant concern.
Apapa Customs Command warns officers that delays in cargo clearance will not be tolerated, urging professionalism and vigilance to boost revenue and trade.
NNPC and NIPetGE advocate for increased adoption of energy sector AI and digital tech to boost efficiency and sustainability in Nigeria’s oil and gas indus