Category: Business

The Federal Government has inaugurated a new Governing Board for the Corporate Affairs Commission (CAC), marking a significant step toward strengthening Nigeria’s business environment and enhancing investor confidence. The inauguration ceremony, held on April 22, 2026, in Abuja, underscored the administration’s commitment to reforming key institutions and improving the ease of doing business in the country. Speaking at the event, the Honourable Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the CAC as a cornerstone of Nigeria’s economic framework. She highlighted its critical role in business registration, regulation,…

Key regulatory bodies, legal institutions, media, consumers, and other stakeholders have called for stronger enforcement of regulations, increased consumer awareness, and improved product traceability at the 8th Consumer Protection Conference held today March 26 ,2026 in Abuja. The conference, themed “Safe Products, Confident Consumers,” was organised by the Save The Consumers Initiative and brought together participants from across sectors to address pressing issues affecting consumer safety and confidence in Nigeria. Participants were grouped into clusters to deliberate on challenges surrounding unsafe products and consumer protection, with a communiqué expected to…

A total of N1.894 trillion from the February 2026 Federation Account Revenue has been shared among the Federal Government, State Governments, and Local Government Councils (LGCs). The allocation was approved at the March 2026 Federation Account Allocation Committee (FAAC) meeting held in Abuja. The N1.894 trillion distributable revenue consisted of N1.274 trillion statutory revenue and N619.119 billion Value Added Tax (VAT) revenue. According to the FAAC communiqué, a total gross revenue of N2.230 trillion was available in February 2026. After deductions for collection costs (N77.302 billion) and transfers, refunds, and…

The Corporate Affairs Commission (CAC) on Monday, 9th February 2026, marked its 35th anniversary under the theme “Upholding Public Trust Through Excellent Service Delivery”, with a high-level ceremony attended by top government functionaries, Lawmakers,captains of industry, development partners, and key stakeholders in Abuja. The event, which highlighted the Commission’s reform journey and future outlook, featured an Anniversary Lecture, the screening of an abridged documentary on the evolution of CAC, cultural performances by the NYSC National Troupe, and goodwill messages from relevant stakeholders. Delivering his address, the Registrar-General/Chief Executive Officer of…

The Nigeria Customs Service (NCS), in collaboration with the World Customs Organisation (WCO) and the World Bank Group (WBG), has commenced the WCO Accelerate Trade Facilitation Programme to strengthen trade facilitation, enhance compliance, and deepen customs modernisation in Nigeria. The programme, which began on Monday, 19 January 2026, is focused on reviewing agreed reform objectives and confirming strategic approaches for implementing key initiatives, particularly in the area of Post-Clearance Audit (PCA). It also provided an opportunity to assess progress made so far while identifying practical measures to improve efficiency, transparency,…

The Federal Government has inaugurated the National Intellectual Property Policy and Strategy (NIPPS) Implementation Committees, marking a major step toward strengthening Nigeria’s intellectual property (IP) ecosystem and translating policy commitments into concrete economic outcomes. The inauguration, which took place in Abuja, signaled a transition from policy formulation to coordinated execution following the approval of the NIPPS by the Federal Executive Council. Speaking at the event, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, said the inauguration represents a decisive move from years of consultations and planning to focused…

The Nigeria Customs Service (NCS) has commenced the implementation of a new Standard Operating Procedure (SOP) for courier companies operating under the Delivered Duty Paid (DDP) Incoterm, aimed at strengthening compliance, enhancing revenue assurance and aligning courier operations with global best practices.   Announcing the development in release, the National Public Relations Officer of the Service, Deputy Comptroller of Customs Abdullahi Maiwada,said the SOP provided a unified framework for the registration of courier companies, submission of manifests, declaration, valuation, clearance, delivery and compliance monitoring of DDP shipments nationwide. According to…