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  The Pension Transitional Arrangement Directorate has disbursed N3,817,568,592.80 in pension arrears to 30,356 pensioners under the Defined Benefit Scheme. PTAD’s Head of Corporate Communications, Olugbenga Ajayi, disclosed this in a statement on Friday in Abuja. He revealed that the disbursements cover beneficiaries across three pension departments following a back-end computation review exercise. What PTAD is saying Ajayi said the payment covers pensioners under the Parastatals Pension Department, the Defunct and Transferred Agencies Pension Department, and the Tertiary, Education and Health Pension Department. He said the disbursement represents accrued arrears identified during PTAD’s Back-End Computation Review Exercise, which the directorate conducted to address complaints relating to pension computations and resolve outstanding entitlements owed to Defined Benefit Scheme pensioners Ajayi quoted the PTAD Executive Secretary Tolulope Odunaiya as commending the affected pensio...

  The Central Bank of Nigeria (CBN) has removed restrictions that prevented financial institutions participating in the Nigerian Foreign Exchange Market (NFEM) and primary auctions of government securities from accessing its Discount Window. The apex bank also restored tenored repurchase operations with maturities of four to 90 days and expanded access to Open Market Operations (OMO) securities to individuals, corporates and non-bank financial institutions. The changes are contained in a circular dated August 12, 2026, titled Review of Discount Window Restrictions and Open Market Operations Participation Framework, signed by Okey Umeano, Acting Director of the Financial Markets Department. The CBN said the measures followed a review of developments and practices across the foreign exchange, money and fixed-income markets, alongside the frameworks governing the Standing Lending Facility (SLF), tenored repo operations and OMO participation. The new directives took immediate effect. W...

  President Bola Ahmed Tinubu’s economic reforms have triggered widespread criticism among Nigerians, with concerns over the rising cost of living, inflation, poverty and the social impact of policies introduced since he assumed office. In a shocking move, even to his close aides, Tinubu used his inauguration speech to abolish the highly controversial fuel subsidy, a decision that has caused a lot of pain and hardship to Nigerians. This was subsequently followed by the unification of the foreign exchange market. The administration’s reforms, including the removal of the fuel subsidy, foreign exchange reforms, tax and fiscal policy changes, banking sector recapitalisation and monetary policy tightening, have attracted contrasting assessments from economists and businesses. However, over three years into this administration’s tenure, Nigerians remain sharply divided over the government’s direction and impact. While supporters argue that Tinubu has confronted economic problems previou...

  Despite the Federal Government’s sweeping tax reforms aimed at simplifying Nigeria’s tax system, businesses across the country say they continue to grapple with multiple taxes, levies and other government collections. An investigation by Nairametrics, based on interviews with business owners, tax experts and revenue officials, as well as a review of tax laws, revenue schedules, payment receipts and regulatory directives, found that implementation remains uneven, particularly at the sub-national level. While the Nigeria Tax Act has streamlined several aspects of tax administration, businesses say overlapping demands from federal, state and local government agencies, as well as contracted revenue collectors, continue to increase their operating costs. What they are saying The concerns are reflected in the Central Bank of Nigeria’s July 2026 Business Expectations Survey, where 70.8% of respondents identified high and multiple taxation as the biggest constraint to business operation...

  The six listed NGX agricultural sector companies have released their unaudited half-year 2026 results, wrapping up the H1 2026 earnings season and entering H2 on a very strong note. The companies, which include Zichis, Ellah Lakes, FTN Cocoa, Livestock, Okomu, and Presco, according to their financial statements as analyzed by Nairametrics, posted a combined profit after tax of N123.48 billion in H1 2026 alone. This accounted for 70.75% of their entire N174.51 billion full-year 2025 profit, achieved in just six months. Revenue moved even faster, with a combined N688.88 billion in H1 2026, about 20% ahead of their full N574.09 billion FY2025 revenue. On the same combined level, the market performance appears to reflect the strong financial performance. The six companies have added about N1.03 trillion in market capitalization as of the close of trading on Monday, August 10, 2026, reaching a total market capitalization of N3.884 trillion, which is 2.42% of the broad market capitaliz...

  Experts have described the recently concluded insurance recapitalisation exercise as a critical step necessary to build a stronger industry with a capacity to underwrite bigger risks, while cautioning that operators dragging their regulator to court may not augur well for the industry. The comments follow moves by NICON Insurance Limited and Nigeria Reinsurance Corporation (Nigeria Re) to challenge the National Insurance Commission (NAICOM) in court over the recapitalisation process. At the end of the exercise, Nairametrics gathered that the 43 insurance firms that met the July 31, 2026, deadline have raised at least N720 billion. What they are saying While analysts believe the exercise will strengthen the industry, they warn that taking legal action against a primary regulator rarely ends well for corporate entities. Dr. Jerry Igwilo , Chief Executive Officer of Nisela Capital Limited, told Nairametrics that while companies have the right to seek legal interpretation, confrontin...