Author: Olu Anisere
How to Get Your Personal Tax Identification Number Unless you have the right information, you may struggle to get the easiest thing, like your personal tax identification number (Tax ID). Don’t be scared to be civil; your tax payment may not even be enough to buy a bottle of wine. By Nigerian tax law, it is not all income earners that are taxable, but all taxable persons are income earners. The convenient part of it is that tax payment need not be burdensome, and it looks like the new tax law actually achieves the principle. Without leaving your house, you…
Bitcoin Resisted at $94 with ETF Outflow, Profit-taking Bitcoin (BTCUSD) price upswing has been resisted at the $94k level in the cryptocurrency market on Wednesday; the digital asset market value has spiralled down by about 2% in the last 24 hours. Trading volume was boosted by about 24% on the day to $56.18 billion, according to data from the cryptocurrency exchanges on Wednesday with moderated market dominance. Bitcoin fell 1.75% in the past 24h to $92,100, underperforming the broader crypto market. BTC faced rejection at $94,000 resistance; analysts flagged $91,200 as critical support. Cryptocurrency market analysts highlighted that the dip…
Naira Rallies Ease Corporate Foreign Payments Burden The naira appreciation has continued to reduce the non-bank corporate international FX payments burden, with the Central Bank of Nigeria (CBN) boosting the supply side. Companies and other FX market participants with FX liabilities have had their burden reduced sharply as they continue to settle obligations at lower naira equivalents. Elsewhere, FX movement has reduced Nigerian banks’ gains and hurt earnings growth. The naira gained 7.5% in 2025, according to CardinalStone Partners Limited – the first time in 13 years the exchange rate will favour market participants. On Tuesday, The Naira sustained its…
UK Service Sector Records Lacklustre Growth in December Lacklustre business activity growth continued across the UK service sector at the end of 2025. The UK S&P Global Composite PMI was at 51.4 in December of 2025, inching higher from 51.2 in the previous month but revised sharply lower from the preliminary estimate of 52.1 and missing the initial market estimates of 51.6. Still, the result reflected the eighth consecutive period of expansion in British private sector activity, with a slightly firmer expansion for services compared with 51.3 in November and an extension to the rebound for manufacturers, which was their…
Nigerian Bourse Swells as Equity Portfolio Rises by N469bn The Nigerian Exchange (NGX), the local bourse, swelled as equity portfolio value increased by about N469 billion on Tuesday, supported by bargain hunting. The local bourse benchmark index, or all-share index, closed higher for the 16th consecutive session as local retail and institutional investors dominated trading activities. According to trading data reviewed, the Nigerian Exchange all-share index and market capitalisation advanced by 0.46% to reach 159,951.08 and N102.28 trillion, respectively. Trading activity displayed mixed results as share volume increased 7.12% to 745.2 million units and transaction value rose 4.48% to ₦19.4…
U.S. Dollar Inflow into Nigeria’s FX Market Drops by 21% Total U.S. dollar volume flows into the Nigeria Foreign Exchange Market (NFEM) declined by 20.67% week on week to US$593.70 million from US$748.40 million in the prior week, Coronation Merchant Bank’s research subsidiary said in a report. According to the report, the slowdown reflects softer market activity at the start of the year, as well as reduced participation from offshore investors. Coronation Research said local sources remained the dominant contributors, accounting for 82.95% of the total FX inflow recorded last week in the official market. The breakdown showed that the…
Capital Gains Tax Downside to Stock Market Growth in 2026 – Firm With the implementation of the new capital gains tax starting in 2026, Nigeria will charge up to 30% on investors that realised above N150 million in gain from trading shares in the local bourse. The market is expected to react negatively to the equity gain tax which exempted retail investors with less than benchmark capital appreciation on trading deals. The tax will be applied only to investors that make at least N150 million from selling shares in Nigerian Exchange, and not those whose portfolio value only increase. The…
Interbank Bank Rates Steady over Robust System Liquidity Interbank rates were steadied due to excess liquidity in the money market, investment banking firms said in separate reports following the Central Bank open market operation action last week. Deposit money banks continued to park cash into the Central Bank ahead of expected monetary easing in the first quarter of 2026. No funding requests were recorded at the Standing Lending Facility window in the absence of funding pressures. Average daily liquidity in December eased by 1% to ₦3.23 trillion, from ₦3.35 trillion in November. The short term interest rates settled at floor…
OPEC+ Keeps Output as Oil Prices Drop by 18% in 2025 The Organisation of Petroleum Exporting Countries (OPEC) and allies members (OPEC+) kept oil output unchanged amidst global demand and supply uncertainties. At the meeting held on Sunday, the oil group deliberately avoided discussion of the political crises affecting several of the producer group’s members. The meeting of eight members of OPEC+, which pumps about half the world’s oil, came after oil prices fell more than 18% in 2025—their steepest yearly drop since 2020—amid growing oversupply concerns. Due to geopolitical tensions in the Middle East and Russia-Ukraine war, demand and…
UBA Target Price Set at N71 Per Share Ahead of Q4 Pan-African lender United Bank for Africa (UBA) Plc’s target price has been set at N71 by Lagos-based investment firm Cowry Asset Management Limited, reflecting significant upside in its share price in the stock market on Friday. The Nigerian Exchange (NGX) opened 2026 with a bullish note after gaining about 52% in 12 months. NGX closed the trading session strong as market value of all listed companies surged to about N99.4 trillion. The banking index gained 2.96% as sectoral performance closed positive. Ahead of the fourth quarter of 2025 earnings…