Economy
What Type of Precious Metals Can You Hold in a Gold IRA Account?
Gold has been used as a form of currency for centuries. It is an incredibly valuable metal and is often seen as a sign of wealth and prosperity.
In recent years, it has also become popular to hold gold in a retirement account – known as a Gold IRA Account. There are many different types of precious metals that can be held in a Gold IRA, but in this article, we will focus on four of the most popular: gold, silver, platinum, and palladium.
Each of these metals has unique properties that make it beneficial to hold in a retirement account. Let’s take a closer look at each one!
Gold
Gold has always been seen as a valuable metal, and for good reason. It is rare, durable, and has a long history of being used as currency. Gold is also non-corrosive, meaning it doesn’t rust or tarnish over time. This makes it a great choice for investors who want to hold onto their investment for the long term.
Gold can be bought in a variety of forms, including coins, bars, and rounds. Gold is the most popular precious metal to hold in a gold IRA company and is incredibly valuable. It is often seen as a sign of wealth and prosperity. Gold is also known for its durability, which makes it an ideal metal to hold in a retirement account. Gold is often used as a hedge against inflation. Ever since the U.S. government stopped minting gold coins, the price of gold has been on the rise.
Silver
Silver has a bit of a different history than gold. It has been used as currency, jewellery, and other decorative items for centuries. Silver is also a valuable metal, but it is not quite as rare as gold. This makes it a more affordable option for investors who want to hold precious metals in their retirement account. Silver can also be bought in coins, bars, and rounds.
In addition, silver is known for its industrial applications. It is used in a variety of industries, including electronics, solar energy, and water filtration. This makes it a good option for investors who are looking for exposure to different sectors. Silver is another popular precious metal to hold in a part of gold IRA – silver IRA, as it keeps its value during economic downturns. Keep in mind, however, that silver is more volatile than gold, so it may not be the best choice if you’re looking for stability in your retirement savings.
Platinum
Platinum is a very valuable precious metal and is often used in jewellery and other high-end products. Its history is a bit different from gold and silver, as it was only discovered in the 18th century. Platinum is rarer than gold, but not quite as rare as silver. This makes it a good option for investors who want to hold a precious metal that is less common than gold.
Platinum is kept in the same forms as gold and silver – coins, bars, and rounds. Platinum is also known for its industrial uses, as well as its value as a precious metal. It is often used as a hedge against inflation and economic downturns. Give it a try and protect your retirement savings from inflation and economic downturns by holding platinum in a platinum IRA.
Palladium
What is interesting about palladium is that it is not as well known as the other precious metals. Palladium is a white metal that is often used in jewellery and other high-end products. It is also used in a variety of industrial applications. Palladium is rarer than gold, silver, and platinum, making it a good choice for investors who want to hold a less common metal. Palladium can be bought in the same forms as gold and silver – coins, bars, and rounds.
When it comes to precious metals, palladium is often seen as a good option for investors who are looking for growth potential. This is because palladium is not as well known or understood as other metals, so it has more room to grow in value. Palladium is still a very valuable precious metal. It is also known for its industrial uses, as well as its value as a precious metal. Palladium is often used as a hedge against inflation and economic downturns.
There are a number of different precious metals that can be held in a Gold IRA account. These metals include gold, silver, platinum, and palladium. Each metal has its own unique history and characteristics. When it comes to investing in precious metals, it is important to understand the benefits and risks associated with each option.
By Adedapo Adesanya
The Senate Committee on Banking, Insurance and Other Financial Institutions has called for stronger collaboration among financial sector regulators and other stakeholders to strengthen Nigeria’s financial system and support sustainable economic growth.
The committee made the call during an expanded stakeholders’ engagement in Lagos, attended by the leadership of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON), National Insurance Commission (NAICOM) and Nigeria Export-Import Bank (NEXIM), among other industry stakeholders and financial experts.
Chairman of the committee, Mr Adetokunbo Abiru (Lagos East), who was represented by Mr Osita Izunaso (Imo West), said stronger legislative reforms and regulatory collaboration were necessary to reposition Nigeria’s financial architecture for long-term economic prosperity.
Mr Abiru said the financial sector remained critical to investment, job creation, business expansion and macroeconomic stability, stressing that its ability to mobilise savings, channel credit to productive sectors, facilitate investment and manage risks was fundamental to sustainable economic growth.
He said the current economic realities required closer collaboration between the legislature and financial regulators, noting that challenges confronting the sector were interconnected and could not be effectively addressed through isolated interventions.
The lawmaker identified inflationary pressures, global economic uncertainties, cybersecurity threats, low insurance penetration and the need to diversify Nigeria’s export base as some of the challenges requiring coordinated policy responses.
He said the engagement was aimed at generating practical solutions to strengthen the country’s financial architecture and support sustainable economic growth.
According to him, monetary policy, financial safety nets, banking institutions, the insurance industry and export finance were interdependent components of a stable financial system and must therefore be strengthened collectively.
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr Olusegun Ayo Omosehin, said the Nigeria Insurance Industry Reform Act (NIIRA) 2025 had contributed significantly to stabilising and repositioning the insurance sector.
Mr Omosehin disclosed that 43 insurance companies had successfully recapitalised, describing the development as a major milestone for the industry.
He commended Abiru and members of the committee for their role in advancing insurance sector reforms and urged the House of Representatives to expedite action on the relevant insurance reform bill to enable it to receive presidential assent and become operational.
Representatives of the CBN Governor and the Managing Directors of AMCON, NEXIM and NDIC also commended the Senate committee for its oversight and legislative support, saying its interventions had strengthened the agencies’ capacity to discharge their statutory mandates.
The engagement, held under the theme, Strengthening Financial System Architecture for Sustainable Economic Growth and Stability in Nigeria, also featured presentations by Professor Uche Uwaleke, President of Capital Market Academics of Nigeria (CMAN); Professor Biodun Adedipe, Chief Consultant, B. Adedipe Associates Limited; and Dr Tilewa Adebajo, Chief Executive Officer of CFG Advisory.
The experts presented policy recommendations on key issues affecting Nigeria’s financial system, with emphasis on financial stability, investment and sustainable economic growth.
Mr Abiru said the Senate would continue to engage financial regulators and other stakeholders to deepen financial inclusion, strengthen public confidence in financial institutions and improve regulatory effectiveness.
He said the broader objective was to position Nigeria’s financial system to compete more effectively in the global economy while remaining resilient and responsive to the country’s economic transformation agenda.
By Aduragbemi Omiyale
The first six months of 2026 were not too good for Caverton Offshore Support Group Plc, as it suffered an N8.7 billion loss compared with the N2.1 billion net profit it recorded in the same period of 2025.
This occurred as the company posted a 10.91 per cent decline in earnings between January and June 2026, according to its financial statements for the period ended June 30, 2026.
Analysis of the results showed that the revenue generated in the period under review stood at N14.7 billion versus the N16.5 billion printed in the corresponding period of last year.
Business Post observed that the revenue was negatively impacted by a decline in earnings from helicopter charter and helicopter/airplane contract.
Further analysis of the financial results indicated that operating profit went down by 22.34 per cent to N7.3 billion from N9.4 billion, with administrative expenses jumping to N7.9 billion from N4.7 billion.
But Caverton believes things will get better, noting that the clearest driver of the recovery is Caverton Marine.
Through its relationship with Stena Bulk, one of the world’s leading tanker operators, the organisation now participates in three Suezmax tankers trading a rare source of foreign-currency revenue for a Nigerian-listed company.
It noted that the relationship is being deepened through Unity Shipping Worldwide, a joint venture with the Nigerian National Petroleum Company (NNPC) Limited and Stena Bulk that pairs the state-owned oil firm’s national position and Stena Bulk’s fleet with Caverton’s indigenous operating platform
Closer to home, the firm’s OMIBUS platform, developed with Shanghai-based electric-propulsion OEM Explomar, is bringing battery-electric passenger ferries to Lagos waterways. A prototype is already in service, and Caverton holds a firm order from Lagos State for ten vessels, an early-mover position in clean inland-water transport that the group believes can be replicated across other states as the fleet enters service and ferry operations mature into steady, recurring revenue.
In aviation, the institution said the recovery is anchored on its partnership with NHV, a Belgium-based international helicopter operator, with the restructuring of charter operations targeted for the second half of 2026.
“The first half of the year tested us, but the direction of travel is now visible in the numbers.
“Quarter on quarter, we are working to build up our revenue to narrow losses. Our marine business units, from international tankers to electric ferries, are scaling.
“Meanwhile, our aviation relaunch is on track for the second half, and our cost base is tighter than it has been in years. There is distance still to travel, but Caverton is moving from stabilisation to recovery, and we intend to finish 2026 with that momentum intact,” the chief executive of Caverton, Mr Olabode Makanjuola, stated.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) and the Joint Revenue Board (JRB) have issued new guidelines clarifying the taxation of virtual assets in Nigeria.
The guidelines provide an administrative framework for the taxation of virtual assets and specify the tax obligations of individuals and businesses operating in the sector.
According to a public notice issued by the two agencies, the framework covers registration, reporting and record-keeping requirements, valuation principles and the tax treatment of virtual asset transactions.
It applies to taxpayers, Virtual Asset Service Providers (VASPs), peer-to-peer (P2P) marketplace operators, tax practitioners and other persons engaged in virtual asset-related activities.
The NRS and JRB said the guidelines were developed in line with the provisions of the Nigeria Tax Act 2025 and the Nigeria Tax Administration Act 2025.
The two bodies said the release was aimed at providing clarity, certainty and consistency in the administration of Nigeria’s tax laws as the country’s virtual asset ecosystem continues to evolve.
The agencies added that the framework would promote voluntary compliance, enhance transparency and support the development of a fair and efficient tax system for digital asset transactions.
They urged all affected taxpayers and stakeholders to familiarise themselves with the guidelines and ensure compliance with the applicable tax obligations.
The guidelines are available on the official websites of the two agencies.
