Economy

  Nigeria’s digital financial ecosystem now processes more than ₦1.07 quadrillion in electronic payment transactions annually, reflecting the rapid expansion of digital finance across the country. However, this growth has not been matched by a corresponding increase in public confidence. According to a new policy report titled Trust Architecture in Platform-Led Finance: Structural Governance Imperatives […]

The National Information Technology Development Agency (NITDA) is set to begin licensing technology firms for software testing as part of efforts to standardise IT project implementation across government institutions and regulated private sector organisations. The initiative follows the launch of the National Software Quality Assurance (SQA) Framework, which will require all Federal Government software projects

Royal Exchange Plc has reported a sharp decline in profitability for the first half of 2026, with profit before tax (PBT) falling 94.2% as lower investment income and weaker operating earnings weighed on the financial services group’s performance. According to the company’s H1 2026 unaudited financial statement filed with the Nigerian Exchange (NGX) on Wednesday,

  Nigeria’s foreign exchange market recorded its strongest weekly performance of 2026, with total transactions in the FX Spot and Derivatives markets rising above the $4 billion mark for the first time this year. According to the latest weekly FX market turnover report, total turnover climbed to $4.375 billion in the week ended July 24,

  Former National Coordinator and Chief Executive Officer of the National Social Investment Programme Agency (NSIPA), Halima Shehu, has alleged that ₦3 billion in unspent COVID-19 intervention funds was paid into 11 different accounts without her authorisation or approval. Shehu made the allegation during an interview on Arise Television’s The Morning Show on Monday, July

  The Nigerian equities market is entering August 2026 with oil and gas companies, banking stocks, and a select group of undervalued equities expected to remain at the centre of investor attention following a strong recovery in market sentiment. After reviewing key metrics including share-price performance, valuation multiples, revenue growth, profitability and earnings momentum, several

  Nigerian Exchange Group (NGX) Plc has declared an interim dividend of ₦1.30 per ordinary share for the six months ended June 30, 2026, following a record first-half financial performance driven by stronger trading activity, improved operating efficiency, and higher earnings from its investee companies. According to the Group’s unaudited H1 2026 financial results filed

  The Dangote Petroleum Refinery has successfully completed a $2.5 billion private placement, marking one of the largest corporate fundraising transactions ever undertaken by an African company. The company announced the development on Thursday, describing the transaction as a major milestone in its long-term growth strategy and its efforts to strengthen its capital structure. The

  OPay has unveiled an ambitious long-term growth plan, setting targets to reach one billion users, support 10 million merchants, and create one million jobs as it seeks to expand its footprint amid intensifying competition in Nigeria’s fast-growing digital payments industry. The company announced the targets during its Media Parley held in Lagos, where executives

  The Nigerian equities market staged a strong recovery on Thursday, July 23, 2026, with investors gaining approximately ₦1.58 trillion in market value as renewed buying interest in large-cap stocks reversed losses recorded in the previous trading session. The NGX All-Share Index (ASI) advanced 0.98% to close at 247,832.97 points, up from 245,418.37 points recorded