FG Cuts Late Tax Payment Interest Rate
By Oluwakemi Kindness The Federal Government has reduced the interest charged on late payment of taxes in naira from five percentage points above the Central Bank of Nigeria’s Monetary Policy Rate to one percentage point. The new rate takes effect from October 1, 2026, according to a statement on Thursday by the ministry. The Minister […]
CBN Holds Interest Rate at 26.5% Amid Rising Inflation Concerns
By Oluwakemi Kindness The Central Bank of Nigeria has retained the benchmark interest rate at 26.5 percent as authorities continue efforts to rein in inflation and stabilise the economy. The decision was announced on Wednesday by the CBN Governor, Olayemi Cardoso, after the 305th meeting of the Monetary Policy Committee in Abuja. Cardoso said all […]