Politics
Senate Passes Amended Tax Reform Bill After Months of Deadlock
Nigeria's upper chamber passed the long-stalled tax reform legislation Thursday, paving the way for changes that economists say could reshape how businesses are taxed.
DiasporaBy People's News Editorial Team
Sending Money Home Just Got Cheaper: The Apps Nigerians in the US Are Switching To
Remittance fees to Nigeria have dropped sharply over the past 18 months as new fintech entrants compete for the diaspora market. We tested seven apps so you don't have to.
If you last compared remittance rates more than a year ago, you may be paying 40 to 60 percent more than you need to.
Fees on the corridor from the United States to Nigeria have compressed significantly since late 2024, driven by competition among a new wave of fintech providers who have built specifically for the African diaspora market.
People's News tested seven apps over a four-week period, sending identical amounts of $200 and $500, and tracking both the fee and the naira exchange rate applied.
The short version: Lemfi and Grey consistently delivered the best combination of low fees and competitive rates. Western Union and MoneyGram remain the most expensive options by a wide margin. Wise sits in the middle tier.
Full comparison table and methodology in the article.
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Business
Naira Gains Ground Against Dollar as Oil Output Climbs
The naira strengthened to 1,540 per dollar on Thursday as Nigeria's oil production hit a six-month high, easing pressure on the central bank's foreign exchange reserves.