BY CHIKA OKEKE Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele The Federal Government has countered the reports of the International Monetary Fund, IMF, suggesting that it has adopted or is considering new taxes on telecommunications services and petroleum products. Specifically, the government hinted that the reports misrepresented the content of the IMF publication and do not reflect its policy direction. The IMF had on June 9, 2026, released Article IV Consultation Report on Nigeria, which assessed the country’s economic reform programme and recommendations for consideration by the authorities. In the report, the IMF Executive Board praised Nigeria’s recent tax reforms, but added that additional tax policy measures may be needed over the medium term, including to fund a scaled-up cash transfer program to provide relief to the most vulnerable. But the Federal Ministry of Finance noted that IMF recommendations do not amount to government poli...
Diezani Alison-Madueke London’s Southwark Crown Court has acquitted the former Minister of Petroleum, Diezani Alison-Madueke of six bribery charges after years of corruption trial in the United Kingdom. Alison-Madueke, 65, was found not guilty on five counts of accepting bribes from persons connected to energy firms and one count of conspiracy to commit bribery while serving as the minister. Prosecutors alleged that Alison-Madueke was given preferential treatment in London by oil and gas industry figures seeking lucrative contracts in Nigeria, a country that has long struggled with corruption and mismanagement. Alison-Madueke, who served as minister from 2010 to 2015 under former President Goodluck Jonathan, was also a former President of the Organization of the Petroleum Exporting Countries, OPEC. During the trials, Alison-Madueke denied the charges, saying that she never received any bribes and had no real influence over the award of government contracts. Analysts fr...