A tax expert, Aderonke Atoyebi, has debunked the widespread misconception regarding the newly introduced Tax Identification, describing the rumours as dangerous.
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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All you need to know as FG says no tax ID, no bank account by January 1, 2026
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Highlights from Nigeria’s Q4 trade data as exports rise above imports
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Lab-grown diamonds robbing southern Africa of riches
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Naira gains N37, experts warn dollar hoarders of big losses
Economy Latest News
US Fed dissenter warns inflation risks remain 'prominent'
The sole Federal Reserve official not to support last week's large interest rate cut said Tuesday that the risks of inflation reigniting remained "prominent." Speaking in the US state of Virginia on Tuesday, Bowman said "the upside risks to inflation remain prominent."
France facing 'one of worst deficits' in its history: minister
France now has "one of the worst" public deficits in its modern history, the newly-installed economy minister said Tuesday, confirming new taxes on the wealthy and big businesses are on the table to get finances back in order. "Apart from one or two one-off crisis years in the past 50 (years), we have one of the worst deficits in our history," Armand told broadcaster France Inter.
Dutch paint giant Akzonobel slashes 2,000 jobs worldwide
AkzoNobel, the world's leading paintmaker and manufacturer of Dulux paint, said Tuesday it was cutting 2,000 jobs globally, more than five percent of its workforce, as it strives to cut costs. AkzoNobel has turned in three consecutive quarters of growth but the industry has suffered from rising raw material costs and a slowing global economy.
IMF says ready for talks with Sri Lanka's new leftist government
The International Monetary Fund is ready to discuss its controversial $2.9 billion bailout programme for Sri Lanka with the country's new government, a spokesman said. "We will discuss the timing of the third review of the IMF-supported programme with the new administration as soon as practicable," the spokesperson said referring to the periodic review of the bailout.
Hong Kong, Shanghai rally on China stimulus on mixed day for markets
Hong Kong and Shanghai stocks rallied Tuesday after China unveiled fresh stimulus measures as the country's leaders struggle to kickstart growth in the world's number two economy. Hong Kong stocks jumped more than two percent and Shanghai was up around 0.8 percent.
China unveils fresh stimulus to boost economy
China's central bank on Tuesday unveiled a raft of measures to boost the country's struggling economy, cutting the amount of cash banks must hold in reserve and lowering a key interest rate. On Tuesday, central bank chief Pan Gongsheng told a news conference in Beijing that it would cut a slew of rates in a bid to boost growth.
Israeli economy struggles under weight of Gaza war
Nearly a year of war in Gaza has battered Israel's economy, and poverty is now threatening communities including in areas far removed from the fighting against Hamas. Fitch predicted in August that the Gaza war -- already the longest since the war that led to Israel's creation -- could stretch into 2025.
California sues oil giant Exxon over plastic recycling 'myth'
California began legal action Monday against oil giant ExxonMobil over a "decades-long campaign of deception" about plastics recycling that has worsened a global pollution crisis.
UBA, Zenith, GTB, other banks in Nigeria grow assets by 56% to half Nigeria’s GDP
From N2.72trn in 2022 to N3.5trn in 2023, the total value of financial institutions included in the national accounts grew by 28.8% yearly, or 4.6% of GDP.
Economy
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