The Lagos Angel Network (LAN) has signaled a preference for early-stage startups with valuations below $5 million, noting that larger valuations often exceed the network’s investment scope. Executive Director Solomon King stated that while the network seeks businesses that have moved beyond the idea stage and have generated at least $1,000 in revenue, it prioritizes founders who demonstrate resilience and operational traction. King advised entrepreneurs to research investor mandates to ensure alignment between their startup’s funding stage and an investor’s specific focus.

The Nigerian naira has reached a two-year high in the official foreign exchange market, settling at N1,322 against the US dollar. This strengthening is supported by a surge in gross external reserves, which have hit $53.8 billion—a two-decade high—alongside increased US dollar inflows from crude oil sales, foreign portfolio investments, and diaspora remittances. The Central Bank of Nigeria’s recent reforms have significantly improved market liquidity and transparency, with monthly remittance inflows nearing the $1 billion target and daily turnover in the official market often exceeding $130 million. Analysts expect the currency to stabilize near the N1,300 level as market dynamics continue to improve.

The Association of Securities Dealing Houses of Nigeria (ASHON) has formally requested a review of the National Insurance Commission’s (NAICOM) decision to revoke the operating license of Universal Insurance Plc. ASHON, led by Sehinde Adenagbe, criticized the regulator’s "military-style" approach, arguing that it disregarded a binding N7.1 billion recapitalization deal with FPNG Co-Nvest Limited that was disclosed on the same day the revocation took effect. The association contends that this lack of coordination harms market confidence and investor interests. Universal Insurance is currently challenging the revocation in the Federal High Court.

The Africa Finance Corporation has lauded the Dangote Group’s industrial investments as a cornerstone for Nigeria’s economic transformation. At the Lagos Economic Summit, President Samaila Zubairu and other financial experts highlighted the group’s role in driving import substitution, job creation, and foreign exchange conservation. Meanwhile, Dangote Cement continues preparations for its secondary listing on the London Stock Exchange, with a Capital Markets Day scheduled for September 21, 2026.

Air Peace has reclaimed its position among Africa’s top 10 airlines by scheduled seat capacity for September 2026. According to OAG data, the airline recorded 354,804 scheduled seats, representing a 54.7% year-on-year increase—the fastest growth rate among the continent’s top 10 carriers. This performance follows a brief exit from the ranking in August 2026 and reflects the airline’s ongoing fleet expansion efforts to meet rising passenger demand.

The National Insurance Commission (NAICOM) has launched the Insurance Sector Strengthening Programme (ISSP), a five-year reform initiative aimed at increasing Nigeria’s insurance penetration from 0.5% to 10% of GDP by 2031. The program targets onboarding 25 million new policyholders, with a specific focus on women, youths, and MSMEs. NAICOM plans to implement the reforms in three phases, leveraging digitalization, financial literacy campaigns, and improved consumer trust to address structural industry barriers.

The Initiates Plc (TIP) has paid an interim dividend of 20 kobo per share for the half-year ended June 30, 2026. This distribution follows a strong H1 performance, where revenue surged 105.1% year-on-year to ₦6.95 billion, with profit after tax reaching ₦1.75 billion. Including the 30 kobo final dividend paid in May, shareholders have received a total of 50 kobo per share in 2026. The company continues to focus on long-term growth through waste management and infrastructure partnerships.

Fintech firm Nefer Remittance has launched a specialized service designed to simplify cross-border payments for Nigerian vehicle importers and car dealers. The platform allows users to fund auction payments for major dealerships like Copart, IAAI, and Manheim directly in naira. By integrating currency exchange, invoice validation, and beneficiary documentation into a single process, the service helps users bypass the complexities of traditional international transfer channels and meet strict auction house requirements. Nefer is registered as a money services business with Canadian regulators.

Unilever Nigeria and the Nigeria Customs Service have signed a Memorandum of Understanding to combat the circulation of counterfeit and illicit products in the country. This strategic partnership aims to enhance supply chain security and protect consumers by leveraging shared intelligence, improved product authentication, and stronger enforcement measures. By curbing illicit trade, the initiative seeks to safeguard public health, preserve brand integrity, and foster fair market competition.

The Nigerian Exchange Group (NGX Group) has launched corporate climate baseline assessments under its N-Zero initiative. This phase aims to evaluate the climate readiness of participating firms, identifying gaps in emissions measurement, transition planning, and risk management. Launched in January alongside DEG Impulse gGmbH and Africa Foresight Group, the program has already engaged over 50 companies, including several major listed entities like Access Holdings, Dangote Cement, and Zenith Bank. The assessments, scheduled for completion this September, are designed to help firms move beyond climate ambition toward measurable, science-aligned decarbonization targets and long-term capital access.

Cross-border payment platform Grey has launched Chinese Yuan (CNY) payout services to facilitate easier trade between Africa and China. The new feature allows users to settle transactions directly in yuan by converting existing USD, EUR, GBP, or stablecoin balances at the point of payment. This initiative aims to reduce transaction costs and complexity for businesses and individuals sourcing goods from Chinese suppliers. With Africa-China trade reaching a record $348 billion in 2025, Grey’s move signals a growing market shift toward direct yuan-denominated settlements. The service supports transfers to Chinese banks with transactions typically completed within 24 hours.

Cross-border payments platform Grey has launched direct Chinese Yuan (CNY) payouts to streamline trade between African markets and China. The new feature allows users to send funds directly to Chinese personal and business bank accounts using USD, EUR, GBP, or stablecoin balances. Transactions are capped at 21,000 CNY with a flat $2.80 fee and typically settle within 24 hours. This development follows a surge in China-Africa bilateral trade, which reached $207 billion in the first half of 2026.

Nigerian equities rallied during Friday’s trading session, driven by investor optimism following FTSE Russell’s confirmation of thirty-one Nigerian stocks for its Frontier Index Series. This follows Nigeria’s official reclassification to Frontier Market status, effective September 21, 2026. Market analysts expect the transition to improve global visibility, liquidity, and foreign portfolio inflows, particularly for large-cap stocks that meet the index criteria. The NGX All Share Index rose to 247,016 points, with banking sector gains leading the market activity.

The Lagos State Government has announced a six-month road improvement project at the Turnbull-Parkview intersections on Gerrard Road, Ikoyi, scheduled to begin on September 14, 2026. The initiative, aimed at alleviating chronic traffic congestion and enhancing vehicle flow, will involve a detailed traffic management plan to minimize disruption. State officials have assured residents that work will primarily occur during off-peak hours, and a compensation framework is in place for any private property impacted by the construction.

South Sudan faces a volatile outlook as December 22, 2026, elections approach, with the nation’s fragile economy heavily reliant on oil exports. While GDP growth is projected at 17.1 percent for 2026 following the partial restoration of the Petrodar pipeline, long-term stability remains precarious. The nation struggles with deep-seated political tensions, a high risk of debt distress, and significant governance hurdles. Investors are advised to exercise extreme caution, as the upcoming elections could either sustain a recovery or trigger renewed conflict, potentially leading to a total loss for exposed assets. Currently, the most defensible investments are niche sectors like logistics and agriculture, provided they utilize structured, offshore-backed financial arrangements.

OPay has officially refuted social media rumors suggesting the company would cease operations in Nigeria. During a town hall in Lagos, Chief Operating Officer Dotun Adekunle confirmed that the fintech firm remains fully operational and has no plans to exit the market. OPay has engaged the DSS and the Police to investigate the source of the misinformation and is pursuing legal action against those responsible for circulating the false reports. Additionally, the company reaffirmed its commitment to the Nigerian market, highlighting its ongoing 1.2 billion Naira education scholarship program. The Central Bank of Nigeria has also dismissed the shutdown claims as fake news.

Developers in Lagos are prioritizing financing for luxury housing in prime areas like Ikoyi, Victoria Island, and Lekki, driven by demand from the middle and high-income segments. Temitope Runsewe, Managing Director of Sage Grey, noted that despite economic pressures, consumer spending power remains strong in these corridors. However, industry experts warn that rising property and construction costs are making prime locations increasingly unaffordable, likely triggering a shift toward mass housing in more accessible outskirts over the next two years. Currently, the stark rental price gap between prime districts and outlying areas is expected to drive development along major transport corridors.

A new study by Enovate Lab and Dangote Business School reveals that while 94 percent of Nigerian MSMEs use mobile tools, their digital adoption remains lopsided. While businesses frequently leverage technology for outward-facing activities like marketing and customer communication, core internal operations such as finance and inventory management are still heavily reliant on inefficient manual processes. Experts urge entrepreneurs to move beyond basic mobile usage by implementing strategic digital roadmaps to improve internal efficiency, transparency, and long-term productivity.

The Nigerian Exchange (NGX) Exchange-Traded Fund (ETF) segment experienced a sharp correction in August 2026, with ten of the twelve tracked funds recording losses. The SIAML Pension ETF 40 led the decline, plummeting 43.86%, while the Stanbic IBTC ETF 30 followed with a 41.07% drop. Only the Vetiva Banking ETF and the Vetiva Griffin 30 ETF closed the month with gains, each rising 2.83%. Overall, total trading volume for the month fell 23% to 9.81 million units, with transaction value declining 12.3% to N2.10 billion. Analysts note that thin liquidity in some ETFs often causes price swings that may deviate from underlying asset values.