Business
Nigeria Revenue Service unveils new logo as FIRS goes to rest
Speaking at the unveiling ceremony in Abuja on Wednesday, the Executive Chairman of the NRS, Zacch Adedeji, said the launch of the logo and accompanying brand elements represents an important milestone in the evolution of Nigeria’s revenue administration framework.
The Nigeria Revenue Service (NRS), which has replaced the now-defunct Federal Inland Revenue Service (FIRS), has unveiled its institutional brand identity (logo) as part of efforts to reposition the country’s revenue administration structure.
The agency came into operation following the signing of the Nigeria Revenue Service Establishment Act 2025 by President Bola Tinubu in June 2025, marking a major shift in the legal and operational framework governing tax administration in the country.
Speaking at the unveiling ceremony in Abuja on Wednesday, the Executive Chairman of the NRS, Zacch Adedeji, said the launch of the logo and accompanying brand elements represents an important milestone in the evolution of Nigeria’s revenue administration framework.
Adedeji noted that the new institutional identity “signals continuity of purpose, strengthened institutional capacity, and a forward-looking approach to supporting taxpayers and national development.”
Business
TCN improves Power Supply to Apapa corridors by additional 208MW
The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.
The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Sule Ahmed Abdulaziz , says from now Apapa Causeway, Ijora, Amukoko, Ajegunle, Apapa Wharf, Tin Can Island and other major commercial areas, will be having improved power supply.
Abdulaziz made the declaration on Monday during the commission of Ijora and Apapa Road transmission substations in Lagos by additional 208MW .
The project is aimed at improving the volume and reliability of electricity available to distribution companies for onward supply to homes, businesses and industries.
Abdulaziz said that the projects, sponsored by the Japan International Cooperation Agency (JICA) and the World Bank respectively, in partnership with TCN, underscored the Federal Government’s commitment to modernising the transmission network and improving grid stability.
He commended the Ministry of Power, JICA, the Government of Japan, Lagos State Government and other stakeholders for supporting the projects, while appealing for additional grant assistance to upgrade other critical sections of the transmission network.
Speaking at the commissioning, Minister of Power, Mr. Joseph Tegbe, said that the projects were part of the Federal Government’s efforts to address longstanding transmission constraints and infrastructure decay that have limited the country’s ability to fully utilise available generation.
The upgrades increased the Ijora substation’s capacity by 112MW, from 90MVA to 230MVA, following the installation of two new 100MVA transformers.
At Apapa Road, a new Gas Insulated Substation (GIS) added another 96MW, raising the facility’s capacity from 60MVA to 180MVA.
The upgrade replaces an outdoor transformer that had served as a stopgap after the original facility, commissioned in 1985, was decommissioned.
Business
CBN’s Sidi-Ali wins 2026 overall Spokesperson of the Year Award, courtesy of NSA
•Mrs Hakama Sidi Ali.
The Ag. Director of Corporate Communications of the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi-Ali, has won the 2026 edition of the National Spokespersons Award (NSA).
The recognition was announced during the 6th National Spokespersons Awards and the 4th Economic Confidential Annual Lecture, organised by Image Merchants Promotion Limited (IMPR), publishers of PRNigeria, Economic Confidential and Spokespersons Digest, held in Abuja, recently.
The organisers stated: “With the latest honour, Sidi-Ali completed an unprecedented hat-trick at the National Spokespersons Awards, becoming the first communications professional to progress from winning a sector-specific award twice consecutively to claiming the overall Spokesperson of the Year title.
Business
Naira Exchange Rates Tuesday,18 August
BLACK MARKET RATES
US Dollar (USD) Buy ₦1,405 Sell ₦1,413
Great British Pound (GBP) Buy ₦1,880 Sell: ₦1,900
EURO (EUR) Buy ₦1,580 Sell ₦1,600
Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080
South African Rand (ZAR) Buy ₦75 Sell ₦90
Ghana Cedi (GHS) Buy ₦95 Sell ₦110
West African CFA Buy ₦2, 300 Sell ₦2, 400
CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250
CBN Exchange Rates
US Dollar (USD) ₦1,349.54
Great British Pound (GBP) ₦1,830.11
EURO (EUR) ₦1,564.79
Swiss Franc (CHF) ₦1,667.74
Chinese Yuan (CNY) ₦200.19
West African CFA (XOF) ₦2. 39
West African Unit Account (WAUA) ₦1,855.18
Saudi Riyal (SAR) ₦359.44
South African Rand (ZAR) ₦83.31
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