President Bola Ahmed Tinubu has urged the incoming African Credit Rating Agency (AfCRA) to prioritize independence and rigorous assessment to gain global investor confidence. Scheduled for launch on October 7, 2026, in Port Louis, Mauritius, the agency aims to provide fairer, context-driven credit assessments of African economies. The establishment of AfCRA reflects a strategic move by the African Union to challenge the dominance of global firms like Fitch, Moody’s, and S&P, and mitigate the high cost of capital often attributed to perceived rather than actual economic risk.

Following a record $6.1 billion in non-oil exports in 2025, the World Trade Center (WTC) Abuja and Zenith Bank have launched an Export Launchpad Bootcamp to enhance the global competitiveness of Nigerian businesses. The initiative aims to equip local firms with the necessary standards, market knowledge, and logistical strategies to transition from export ambition to consistent execution. Zenith Bank, which currently facilitates approximately 40% of Nigeria’s NXP issuance, reaffirmed its commitment to supporting exporters across the entire value chain.

Since May 2023, several multinational corporations have exited or significantly restructured their Nigerian operations, citing foreign exchange shortages, currency volatility, and rising costs. Notable exits include Equinor, which completed its sale to Chappal Energies; Kimberly-Clark; and Uber, which recently announced its withdrawal from the ride-hailing market. Others, such as Procter & Gamble and GlaxoSmithKline, have pivoted to import or third-party distribution models, while Binance halted its naira-based services due to regulatory pressures. These departures highlight the ongoing challenges in Nigeria’s macroeconomic environment, particularly for firms dependent on imported inputs and local consumer demand.

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.

At the inaugural First Bank Samuel Asabia Professional Chair in Business Ethics lecture, Kenneth Amaeshi argued that government accountability and transparency are essential to improving tax compliance among SMEs and the informal economy. He noted that while businesses and governments often have conflicting goals, trust remains the core issue. Amaeshi challenged the assumption that small business owners avoid taxes by choice, suggesting instead that they lack faith in the transparency of current regulatory frameworks, which some larger corporations exploit for aggressive tax planning. Institutional trust, rather than just tighter regulation, is the necessary path forward for broader economic participation.

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.