ChamsSwitch has launched GLASS, a unified payment gateway designed to streamline transaction processing for Nigerian businesses. The platform enables merchants to accept payments from global and local channels, including Visa, Mastercard, Verve, UnionPay, Alipay, WeChat Pay, Apple Pay, and Google Pay. By consolidating these methods, GLASS eliminates the need for separate integrations, targeting sectors such as hospitality, travel, and e-commerce. Transactions are settled in naira via local banking rails, supported by the company’s existing PCI DSS and ISO-certified infrastructure. Managing Director Mudiaga Umukoro stated that the solution aims to simplify cross-border payment complexities. Financial institutions can also offer the gateway to their merchants through a partnership program.

The Nigerian Exchange Limited (NGX) experienced a marginal decline on Wednesday as losses in key large and medium-cap stocks outweighed broader market gains. The All-Share Index dropped by 0.03% to 246,019.17 points, reducing total market capitalisation by N41 billion to N158.915 trillion. Despite the index dip, market breadth remained positive with 33 stocks advancing against 29 decliners. Trading activity saw a significant contraction, with volume falling by 34.47% to 426.840 million shares valued at N28.438 billion. Top decliners included NASCON Allied Industries and Beta Glass, while Tripple Gee & Company and Oando led the gainers. Analysts maintain a positive outlook, citing sustained investor confidence following recent FTSE Russell reclassification updates.

Rising transportation costs in Nigeria are forcing businesses to rethink logistics, with National Bureau of Statistics data showing bus fares jumped 39 percent and motorcycle fares surged 52 percent in May 2026. To combat these rising expenses, ChamsAccess has launched MarketRide, a delivery platform designed to optimize last-mile logistics through a multi-order model. By consolidating shipments in a single trip, the platform aims to reduce fuel consumption and mileage, helping merchants lower delivery costs amidst inflationary pressure. The company, led by Olayemi Odufeso, is targeting urban centers across Nigeria to improve digital commerce efficiency. However, the platform’s success hinges on achieving sufficient order density to maintain a sustainable and cost-effective network.

Nigeria’s listed technology companies recorded a 75 percent surge in combined capital expenditure to N3.23 billion in the first half of 2026. Data from six firms, including Chams, CWG, and eTranzact, shows total cash and cash equivalents nearly doubled to N37.8 billion. Despite the rise in expenditure, the sector’s aggregate CAPEX-to-cash ratio declined as cash accumulation outpaced investment. Analysts note that firms are now prioritizing internal cash generation over expensive external financing, with varying strategies ranging from Chams’ infrastructure-heavy expansion to the asset-light models adopted by companies like CWG and eTranzact.

The Nigerian equities market closed lower on Monday, July 27, as the All-Share Index declined by 0.05% to 247,238.74 points. This shift erased approximately N76.56 billion in market capitalisation, bringing it to N159.51 trillion. The downturn was primarily driven by profit-taking across insurance, consumer goods, and industrial sectors, while banking stocks bucked the trend to close as the day’s sole sectoral gainer. Despite the decline, market activity intensified, with a 73.6% surge in total value traded to N57.20 billion. Aradel Holdings led value contributions, accounting for 48.2% of the total turnover. Market breadth was negative, with 32 stocks declining against 28 advancers.

Nigeria’s foreign exchange market recorded its highest-ever weekly turnover of $4.375 billion for the week ending July 24, 2026, an 83% surge driven by private-sector activity and potential hedging related to the Dangote Refinery’s temporary dollar-pricing policy.

Separately, the domestic cryptocurrency sector faces a pivotal shift. While the government moves to formalize and tax the market through the Securities and Exchange Commission’s new licensing regime, critics warn that high capital requirements, such as the N2 billion entry threshold, threaten to stifle local startups and cede Nigeria’s leadership position to more flexible regulatory environments in Kenya, South Africa, and Ghana.