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Court to Decide NIBSS-CBN BVN Dispute July 4
The Business NG
|The BusinessNG
The Federal High Court in Abuja has scheduled July 4, 2025, for judgment in a pivotal suit filed by the Nigeria Inter-Bank Settlement System (NIBSS) against the Central Bank of Nigeria (CBN), the Attorney-General of the Federation, and the Digital Rights Lawyers Initiative (ITDRLI), over control of the Bank Verification Number (BVN) database.
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NIBSS is asking the court to affirm its exclusive statutory right to manage and maintain the BVN database across the Nigerian banking industry. It cited the Central Bank Act 2007, the Banks and Other Financial Institutions Act 2020, and the 2021 Revised BVN Regulatory Framework as its legal basis.
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FLERE HISTORIER FRA The Business NG
The Business NG
Tax Reform: How Nigerians' Income May Be Affected in Jan. 2026
Nigerians will soon face a new tax system starting January 1, 2026, aimed at making taxes fairer while encouraging investments and savings.
1 min
The BusinessNG
The Business NG
'CBN May Cut MPR as Inflation Eases, Naira Stabilizes'
The Central Bank of Nigeria (CBN) is expected to trim its benchmark Monetary Policy Rate (MPR) by 25 to 50 basis points at its 302nd Monetary Policy Committee (MPC) meeting scheduled for September 22-23, 2025, as inflation eases and the naira stabilizes.
1 min
The BusinessNG
The Business NG
FG Unveils Key Education Reforms Under Tinubu Administration
The presidency has outlined a series of reforms aimed at revitalizing Nigeria's education sector under President Bola Ahmed Tinubu’s administration.
1 min
The BusinessNG
The Business NG
Calls for State Police Intensify as Reps Seek to Boost Nigeria's Security
The demand for state police in Nigeria has intensified, with the Deputy Speaker of the House of Representatives, Benjamin Kalu, describing it as a critical solution to the country's escalating insecurity challenges.
1 min
The BusinessNG
The Business NG
Nigerian Stocks Outpace Inflation with 38% Gain
Nigeria's stock market has continued its impressive rally in 2025, delivering real positive returns for investors as inflation eases.
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The BusinessNG
The Business NG
Banks Push Back as AMCON Levy Hits N847bn
Calls Grow to Scrap AMCON After 15 Years
1 min
The BusinessNG
The Business NG
Nigerians Dismiss FG's N330bn Cash Transfer Claim
The Federal Government's claim that it disbursed 330 billion in cash transfers to poor and vulnerable households has sparked widespread disbelief, with many Nigerians dismissing the announcement as fraudulent and lacking transparency.
1 min
The BusinessNG
The Business NG
Pension Savings for Informal Workers Surge to N1.46bn
Nigeria's informal workers are increasingly securing their financial future, with retirement savings under the Personal Pension Plan (PPP) climbing by 765 percent in just four years, according to the Pension Fund Operators Association of Nigeria (PenOp).
1 min
The BusinessNG
The Business NG
Ibas Bows Out, Says Peace Is Rivers' Gain
Retired Vice Admiral Ibok-Ete Ibas, who served as Sole Administrator of Rivers State for six months, says his administration succeeded in restoring peace and stability in the state despite operating under extraordinary conditions.
1 min
The BusinessNG
The Business NG
Banks Must Approve MDs Six Months Ahead – CBN Orders
The Central Bank of Nigeria (CBN) has directed Domestic Systemically Important Banks (DSIBs) to secure regulatory approval for their Managing Director/Chief Executive Officer (MD/CEO) successors at least six months before the incumbent’s tenure ends, as part of efforts to strengthen corporate governance and ensure stability in the financial system.
1 min
The BusinessNG
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