E-Financial
CITN Expresses Commitment to Grow Taxation
Adesina Adedayo, the President and Chairman in Council, Chartered Institute of Taxation of Nigeria, has said the institute is committed to expanding taxation in the country.
Adedayo spoke during the 40th anniversary and dinner awards of the institute.
He said, “I see an institute that understands its role in terms of thought leadership, tax legislative, administration and policy intervention.
“Finally, I see an institute that is expanding the frontiers for the development of taxation beyond impact in territorial but in global space.”
He said that 40 years after the institute commenced, it has become a name that is tested, trusted and an institute that is resilient, innovative and dynamic.
The institute, according to him, has become a connecting institute and an intergenerational institute that is connecting the dream of the founding fathers, the energy of today’s generation and the vision of new members in terms of relevance and dynamism required of the tax professional for tomorrow.
According to him, CITN is a nation of economists, lawyers and accountants and organised for efficient service delivery.
He said the CITN of tomorrow is an institute that is in touch with where the world is heading to, and understands the impact of technology on how business of governance should be conducted.
Foluso Fasoto, the Chairman, Planning Committee of the anniversary, said that as part of its activities to mark the 40th anniversary, the institute organised a tax walk to sensitise the public about the institute and create tax awareness.
Fasoto said the institute also used the opportunity of the celebration to reach out to its citizens at the selected Internally Displaced Person Camps and orphanage homes to offer support and make donations.
He acknowledged the session at the public lecture held in Abuja with expositions and perspectives from its panellists on the topics listed.
Kuda Microfinance Bank partnered with Lovers & Frnds for a Valentine’s edition event on Sunday, February 15, at Space Hub Lekki, Lagos, redefining celebrations around love, friendship, and social connections beyond romance.
Kuda Bank
The R&B-themed gathering drew couples, friend groups, and solo attendees with music sets from DJs like TGarbs, games, gift exchanges, and colour-coded tags—red for relationships, yellow for mingling singles, orange for non-minglers—to spark easy interactions.
Kuda activated a branded photo booth, merchandise giveaways, prize activities, and complimentary drinks for Premium loyalty tier customers, while vendors used Kuda Business POS terminals for seamless cashless payments.
Senior Brand Manager Emmanuel Femi-Adejobi said: “We partner with experiences matching our customers’ lifestyles in music and entertainment, creating spaces they genuinely connect with—we’ll keep supporting how they live and celebrate.”
By Mathew Anthony, Market Analyst at FXTM
In another positive development for Nigeria, the CBN has proceeded with 50-basis points rate cut.
FXTM Logo
With favourable fundamental forces at play, it was always a question of how much rather than if rates will be cut in February.
Although some were expecting a hefty 100-basis point cut, this was still a positive move by the CBN, mirroring the dovish strategy of other major banks on the continent.
Interest rates were slashed thanks to cooling inflationary pressures, a stronger Naira and rising FX reserves.
This move is likely to boost confidence over the economic outlook ahead of the Q4 GDP report scheduled for release later this month.
Central Bank of Nigeria (CBN) has lowered its Monetary Policy Rate (MPR) by 50 basis points to 26.50 percent from 27 percent, a unanimous decision announced by Governor Olayemi Cardoso at the end of the 304th Monetary Policy Committee (MPC) meeting in Abuja on Tuesday.
CBN
Cardoso cited 11 straight months of decelerating headline inflation—reaching 15.10 percent in January 2026 per National Bureau of Statistics—as key, driven by prior tightening lags, naira stability, food supply gains, steady petroleum prices, export earnings, remittances, and balance of payments strength.
Liquidity ratio stays at 30 percent, CRR unchanged at 45 percent for commercial banks (16 percent merchant banks) and 75 percent non-TSA public deposits; standing facilities corridor now +50/-450 basis points around MPR.
The MPC retained other parameters, welcoming Executive Order 09 redirecting oil/gas revenues to the federation account for fiscal boost, last cutting rates in September 2025 after November’s hold.
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