The Federal Government says from January 1, 2026, Nigerians without a Tax ID cannot operate bank, pension, insurance, or investment accounts in Nigeria.
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Do you need a tax ID to open a bank account in Nigeria? Here’s the truth
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FG orders immediate release of ₦250bn loan to farmers, targets food security
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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
Swedish battery maker Northvolt to slash 1,600 jobs, quarter of staff
Sweden's beleaguered electric car battery maker Northvolt said Monday it would cut a quarter of its staff in the country, as it struggles with strained finances and a slowdown in demand. The loss of 1,600 jobs in Sweden comes as electric car sales slump in Europe and the continent lags far behind China in battery production.
UniCredit ups stake in Commerzbank to 21 percent
Italian lender UniCredit said on Monday it has increased its stake in Commerzbank to around 21 percent, fuelling speculation that it could seek a takeover of its German rival. Before UniCredit took a stake in the German lender, Berlin had announced that it was looking to sell down its 16.5-percent stake in Commerzbank, citing the bank's improved economic situation.
External reserves break new record under Tinubu, hit 22-month high as naira gets new position
Information from the Central Bank of Nigeria (CBN) has reported a surge in Nigeria's FX reserves, hitting a 22-month high since September 20, 2024.
Big rate cut was 'appropriate' first step: Fed official
The US Federal Reserve's decision to cut interest rates by half a percentage-point was "an appropriate and necessary first step," given progress on reducing inflation, a senior bank official said Monday.
N830/litre: Full list of 10 cheapest states to buy petrol as NNPC slashes Dangote petrol price
The National Bureau of Statistics has released new data showing which Nigerian states have cheaper petrol prices as NNPCL slashes the price of Dangote petrol.
UK's Labour looks to be more cheerful despite gifts and welfare row
Britain's governing Labour party on Monday sought to strike a more upbeat note about the country's future but against a furious backlash from unions at proposed cuts to welfare payments and a row over top ministers receiving gifts. Motions have been proposed at the conference calling for the cut to be abandoned.
Eurozone business activity slumps after Olympics boost
Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday. The decline in business activity could add impetus to calls for the European Central Bank (ECB) to cut its key interest rate again in October.
Newly opened bank competing with Access, Zenith, others announces important changes
NOVA Bank has appointed David Isiavwe as executive director, Operations and Information Technology, and Chinwe Iloghalu as Institutional and Commercial Banking.
EU launches WTO challenge against China dairy probe
The EU on Monday launched a WTO challenge against a Chinese anti-subsidy investigation into imports of European dairy product, in the latest move in a trade spat between Beijing and Brussels.
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