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By allcitynews.ng The Nigeria Deposit Insurance Corporation (NDIC) has resolved to commence  the process of concluding the liquidation activities of 89 closed Microfinance Banks (MFBs) and Primary Mortgage Banks (PMBs) following their successful acquisition by new owners under the Purchase and Assumption (P&A) resolution model executed by the Corporation. The 89 closed banks were part of the 179 MFBs and 4 PMBs whose banking licenses were revoked by the Central Bank of Nigeria (CBN) on May 22nd and 23rd, 2023. Through the Purchase and Assumption agreements, 89 new eligible institutions were issued licenses by the CBN, to acquire the assets and liabilities of the defunct banks and have since commenced operations under new names. The Head, Communication and Public Affairs, Hawwau Gambo, in the press release stated that "In order to legally conclude the liquidation process in accordance with the provisions of its enabling Act and other relevant laws, the NDIC in its capac...

  Tinubu at the inauguration of the new NRS Headquarters By allcitynews.ng  President Bola Tinubu has said that colonial-era tax laws impoverished Nigerians through fragmentation, multiplicity, and inconsistencies, and assured that the new reforms will deliver greater prosperity and inclusivity. President Tinubu emphasised that the new tax system is designed to be people-centred and investment-friendly, thereby advancing the nation’s development goals. The President made these remarks at the commissioning of the 16-storey Nigeria Revenue Service (NRS) Headquarters. President Tinubu explained that the new tax laws, which became fully operational in January, are intended to liberate the economy from the constraints of archaic laws and make it more globally competitive. “On my inauguration day, I made a solemn pledge that we will move Nigerians from the dimness of uncertainty into the clear light of renewed hope. I committed to confronting structural weaknesses, restoring f...

  WELCOME TO THIS NEWS CRUISE CONTROL PLATFORM WHERE YOU  CAN TRAVEL AROUND  THE WORLD VIA READING NATIONAL AND INTERNATIONAL NEWS WITHIN FEW MINUTES- COME ALONG, ENJOY THE RIDE News Update, Thursday,16/04/2026 ‎ ‎**Sunday Dare blasts Pat Utomi for calling Tinubu’s reforms ‘Ponzi scheme’ ‎ ‎**Old tax laws made Nigerians poor – Tinubu ‎ ‎**2027 may be my final Presidential bid – Atiku ‎ ‎** Presidency accuses Atiku of playing politics with Jilli market airstrike ‎  ‎**Akpabio defends Amupitan, says tweet linked to him neutral ‎ ‎**Tinubu came when Nigeria needed him most — Fasoranti ‎ ‎**Obasanjo tasks traditional rulers on peace, community development ‎ ‎ **Minister of Defence Gen. Christopher Musa exlains why insecurity worsens every Political year ‎ ‎**Alleged terrorism: Court fixes May 26 for DSS to open trial in case against Malami, son ‎ ‎**Nafiu Bala, Abejide, others expelled by ADC ‎ ‎**Protest rocks Osun court over LG fund tussle ‎ ‎*...

  By Dr Muda Yusuf  Introduction The Centre for the Promotion of Private Enterprise (CPPE) notes the release of the March 2026 Consumer Price Index (CPI) report by the National Bureau of Statistics (NBS). While recent months have reflected a gradual moderation in year-on-year inflation, the latest data signals a worrying resurgence of inflationary pressures, particularly on a month-on-month basis. Headline inflation edged up to 15.38% in March 2026, while month-on-month inflation accelerated sharply to 4.18%, nearly double the level recorded in February. This development underscores the fragility of the disinflation process and raises concerns about renewed cost pressures in the economy.   Resurgence of Inflationary Pressures Driven by Energy Costs The recent uptick in inflation is largely reflective of renewed energy price pressures, which continue to permeate production, transportation and distribution costs across the economy. Energy remains a critical cost driver in N...

  Tosin Eniolorunda, Group CEO of Moniepoint Inc.,Tosin Eniolorunda, Group CEO of Moniepoint Inc., By allcitynews.ng  Tosin Eniolorunda, Group CEO of Moniepoint Inc., has delivered on a commitment that demonstrates his resolve to deepen financial literacy among women business owners in Nigeria. In partnership with ALX, Eniolorunda hosted a four-hour virtual Entrepreneurship Masterclass bringing together 100 female business owners for a hands-on session designed to move them from petty trading to building valuable enterprises. The masterclass was structured around three practical modules: The Model, The Money, and The Plan with each session facilitated by a subject matter expert and anchored in live, guided exercises rather than passive instruction. Participants also completed a one-page Lean Canvas draft, worked through a pricing and profit calculator to identify their break-even points and profitability levers, and closed the session by drafting a personal 30-60-90 day ...

By Owei Lakemfa In as much as many have undertaken to speak on the ongoing political crises in the country centering on the future of electoral politics, I have decided to make basic clarifications. My preferred surgical tools are the Antecedent, Behaviour and Consequence, ABC, of what might, on the long run, endanger us all and, of course, condemn some to the dust bin of history. Regrettably, some of those who have written on the issue, trying to mislead the populace, are my friends with whom we set out as young people to build a new country and world order based on peace, progress, development and social justice. These are otherwise intelligent people educated with the resources of the country but have for what appears to me as pecuniary reasons, decided to side with backwardness and retrogression. But I digress. Let me address the Nigerian populace, laying down basic facts so that their choices can be made in the collective interests of our country and the African people. At t...