Nigeria and the United Arab Emirates have signed a $200 million agreement to develop defence technology, cybersecurity capabilities, and satellite infrastructure, marking a major step toward strengthening Nigeria’s tech and security sectors. Strategic Partnership for Advanced Technology Also, The deal driven by Nigus International Investment Limited in partnership with Elmirate Capital. With a new platform—Nigus…
The Nigerian Exchange Limited set to upgrade its trading system as Nigeria officially adopts a T+1 settlement cycle starting May 29, 2026. What T+1 Means (Simple Breakdown) Currently, when you sell a stock, it takes two business days (T+2) before your money is available. With T+1: However, This is a major improvement from Nigeria’s previous…
President Bola Ahmed Tinubu and First Lady Oluremi Tinubu have departed Abuja for a landmark state visit to the United Kingdom, following an invitation from King Charles III and Queen Camilla. First Royal Hosting in Nearly Four Decades The visit is particularly significant as it marks the first time in 37 years that a Nigerian…
The AfCFTA Secretariat has held high-level talks with The Coca-Cola Company to explore new ways of expanding intra-African trade and strengthening regional value chains. Driving Local Sourcing Across Africa A key focus of the meeting was how to increase local sourcing of raw materials across African markets, reducing dependence on imports while supporting local farmers…
Tech billionaire Elon Musk has officially launched Starlink in the Central African Republic. Thus bringing high-speed satellite internet to one of the continent’s least connected nations. Bridging the Connectivity Gap The rollout follows a landmark agreement signed in Bangui in December 2025. With a strong focus on rural and underserved areas that have long lacked…
The Central Bank of Nigeria (CBN) has directed all banks to immediately reverse failed ATM transactions, introducing stricter rules to protect customers and improve trust in Nigeria’s payment system. Faster Refunds for Customers Under the new guidelines, failed “on-us” transactions—when you use your own bank’s ATM—must reversed instantly. If technical issues prevent an immediate refund,…
The African Development Bank Group has approved a $5.52 million grant aimed at strengthening tax systems administration. Also and improving domestic revenue generation in Nigeria and other West African countries. Strengthening Revenue Tax Systems The funding is expected to support efforts to modernize tax system. Improve compliance, and enhance efficiency in revenue collection across the…
Africa’s richest man, Aliko Dangote, has secured a $4.2 billion, 25-year natural gas supply deal with GCL Group to power a massive fertilizer mega project in Ethiopia. A Multi-Billion Dollar Industrial Project The fertilizer plant, valued at $2.5 billion, developed by Dangote Group. Which holds a 60% stake, alongside Ethiopian Investment Holdings, which owns the…
The United States has opened a sweeping trade probe investigation involving Nigeria, South Africa, and several other countries, citing concerns over alleged unfair trade practices. What the Investigation Is About However, Washington says the trade probe is part of a broader effort to address global trade imbalances and protect domestic industries. The investigation will examine…
Nigeria has emerged as the number one country globally in the stablecoin ownership. Epecifically Tether (USDT) and USD Coin (USDC), highlighting a major shift in how Nigerians store and move money. Why Stablecoins Are Gaining Ground Stablecoins like USDT and USDC are digital currencies pegged to the US dollar. Meaning their value remains relatively stable…
