Nigeria and Liberia have launched the Liberia–Nigeria Trade and Investment Forum in Lagos, aiming to boost bilateral trade and cross-border investment. The event, themed "Building Bridges for Shared Prosperity," brought together government officials and private sector leaders to explore opportunities in agriculture, energy, infrastructure, mining, and technology. The initiative seeks to transition from diplomatic dialogue to actionable commercial partnerships, leveraging the African Continental Free Trade Area (AfCFTA) framework to enhance regional competitiveness and industrialization. Participants emphasized the need for a transparent, investor-friendly policy environment to foster long-term enterprise development between the two nations.

Universal Insurance Plc has reported a claims payout of N1.35 billion for the second quarter of 2026. The settlements covered a wide range of insurance products, including Agriculture, Aviation, Bond, Engineering, Fire, Marine, and Oil & Gas. Managing Director Jeff Duru stated that the payout reflects the company’s financial stability and its commitment to prompt claims settlement as a core strategic priority.

The Nigeria Customs Service (NCS) has disbursed N7.61 billion in retirement benefits to 4,237 retirees. The funds were distributed through nine Pension Fund Administrators (PFAs), with Premium Pension and Access-ARM Pension Managers recording the highest number of beneficiaries. NCS Comptroller-General, Bashir Adeniyi, confirmed the disbursement during a dialogue session with retired personnel, noting that the move aligns with the Federal Government’s ongoing review of pension provisions.

The 8th edition of the Hotel Managers Conference Africa (HMCA 2026), held at the Lagos Continental Hotel, brought together over 2,000 hospitality stakeholders to address industry standards, sales, and service delivery under the theme, ‘Raising the Bar; Sales, Service & Standards for a Competitive Africa.’

Industry leaders and experts emphasized the shift toward intelligence, innovation, and experiential service as keys to global competitiveness. Key highlights included strategic partnerships, digital transformation initiatives, and industry awards, with the Lagos Continental Hotel recognized as the Best Luxury Business Hotel in Nigeria for 2026. The conference concluded with a proposal from the Ghana Tourism Authority to host the 2027 edition, signaling the event’s growing influence across the continent.

Private fuel depot owners across Nigeria have increased petrol prices to between N1,200 and N1,230 per litre, following the suspension of gantry loading at the Dangote Petroleum Refinery. The loading halt, which began Wednesday afternoon, has triggered speculative pricing across the downstream sector as operators adjust for potential replacement costs. Market uncertainty persists as the refinery has not issued an official statement regarding the suspension or clarified its recent move to transition from naira-denominated transactions to dollar-based invoicing for fuel products. Industry stakeholders, including the Independent Petroleum Marketers Association of Nigeria, warn that this shift toward dollar-based pricing will likely drive further increases at the pump. While some analysts view the refinery’s move as a rational step to align revenues with dollar-denominated feedstock costs, others express concern over the potential for market instability and the informal dollarisation of the fuel trade.

At the 14th edition of the BusinessDay CEO Forum, policymakers and industry leaders reached a consensus that Nigeria’s economic focus must shift from stabilizing macroeconomic indicators to driving inclusive growth. CBN Governor Olayemi Cardoso reported a significant turnaround in the nation’s external position, with net foreign exchange reserves rising from roughly $3 billion to $40 billion, and gross reserves reaching $52 billion. Finance Minister Taiwo Oyedele highlighted a target of $100 billion in incremental economic value through an expanded credit economy as part of a $1 trillion GDP goal by 2030. However, a KPMG report presented at the event underscored ongoing structural challenges, noting that Nigeria lags behind emerging peers in most measures of inclusive prosperity, with household disposable income contracting. Energy sector executives from Aradel Holdings and Seplat Energy emphasized that scaling gas infrastructure is the critical missing link for Nigeria’s industrialization and long-term economic expansion.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.

At a recent UBA Business Series event in Lagos, investors and industry leaders identified financial inclusion, the creative economy, sports, and SMEs as the primary sectors for Africa’s next unicorns. The panel, themed “Building for Africa’s Realities,” emphasized that startups must prioritize local problem-solving over importing global business models. Experts, including Chowdeck CEO Femi Aluko and investor Ashim Egunjobi, highlighted that businesses leveraging consumer data and feedback to address specific local needs are best positioned for scalability and investor interest. The discussion also addressed the role of AI in empowering African creators to compete in the global digital economy.

At the 14th BusinessDay CEO Forum held in Lagos, key government officials and industry leaders gathered under the theme "From Stability to Shared Prosperity" to discuss the next phase of Nigeria’s economic reforms. Frank Aigbogun, publisher of BusinessDay Media, emphasized that while recent fiscal and monetary adjustments have restored macroeconomic credibility, the focus must now shift to driving inclusive growth, industrialisation, and job creation across the country. The event featured insights from Minister of Finance Taiwo Oyedele, Central Bank Governor Olayemi Cardoso, and African Development Bank country director Abdul B. Kamara, who collectively addressed strategies for improving the investment climate and navigating high inflation and financing costs. Top executives, including those from MTN Nigeria, Seplat Energy, and Lafarge, joined the dialogue to explore ways to transform current macroeconomic stability into tangible economic benefits for businesses and households.

KPMG Nigeria CEO, Tola Adeyemi, has warned that the country’s current 3.87% economic growth rate is insufficient to achieve shared prosperity. Speaking at the 14th BusinessDay Annual CEO Forum in Lagos, Adeyemi noted that to significantly improve living standards, Nigeria’s GDP must grow at a rate substantially higher than its 2.09% annual population increase, ideally aiming for at least 4.2%.

According to KPMG’s latest scorecard, Nigeria continues to trail behind its peers in critical areas such as multidimensional poverty, education, electricity access, and financial inclusion. While acknowledging recent macroeconomic stabilization efforts, including the removal of fuel subsidies and monetary policy adjustments, Adeyemi emphasized that reforms must translate into tangible benefits for the general population to be sustainable. He urged the government to accelerate reforms in the power and trade sectors, improve inter-governmental coordination, and enhance transparency to ensure economic growth is inclusive.

The Corporate Affairs Commission (CAC) has initiated the removal of 100,000 non-compliant entities from Nigeria’s corporate register as part of its "Batch 6" enforcement exercise. Under the Companies and Allied Matters Act (CAMA) 2020, these companies are flagged for failing to file annual returns and mandatory documentation. Affected firms have a 90-day grace period to regularize their status or face permanent de-registration. The list of flagged companies is available on the CAC website, and directors must submit evidence of compliance to the Commission to avoid being struck off. This move aims to sanitize the national corporate database and enhance transparency regarding beneficial ownership.

The Corporate Affairs Commission (CAC) has initiated procedures to strike 100,000 companies from its register due to failure to meet statutory filing requirements. Pursuant to Section 692 of the Companies and Allied Matters Act 2020, affected entities have 90 days to regularize their status by filing outstanding annual returns and submitting beneficial ownership information. Failure to comply within this period will result in immediate removal from the register without further notice. This exercise is part of the Commission’s ongoing mandate to maintain an accurate, credible, and transparent national companies database.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has announced a significant improvement in the country’s external position. Speaking at the BusinessDay CEO Forum in Lagos, Cardoso revealed that Nigeria’s net foreign exchange reserves have surged to approximately $40 billion, up from roughly $3 billion at the onset of the current administration’s economic reforms. Additionally, gross external reserves have reached about $52 billion. Cardoso cited these figures as proof of restored market confidence and stability, urging local business leaders to leverage the improved macroeconomic environment to drive further investment and economic growth.

The Federal Capital Territory High Court in Abuja has ordered the final forfeiture of assets valued at N8.9 billion, linked to businesswoman Aisha Achimugu, to the Federal Government.

Presided over by Justice Jude Onwugbuzie, the ruling grants an application by the Economic and Financial Crimes Commission (EFCC). The forfeited assets include jewellery valued at approximately N4.65 billion, 11 exotic vehicles worth N4.29 billion, and cash totaling $50,000 and N30 million. This action follows an ongoing investigation into Oceangate Engineering Oil & Gas Ltd, a firm associated with Achimugu, concerning allegations of money laundering and the use of proceeds from unlawful activities to acquire oil assets. Previously, the court had ordered the company to forfeit $13 million in connection with the same probe.

Shares of First HoldCo Plc hit a record high of N87.25 on the Nigerian Exchange (NGX) on Thursday, driving the bank’s market capitalization above N3.8 trillion for the first time. The stock has surged over 55% month-to-date, fueled by investor optimism regarding its recapitalization strategy and a strong earnings rebound in Q1 2026. The rally is further supported by consistent share accumulation from Chairman Femi Otedola, whose stake has now risen to 20.42%. Following a significant balance-sheet cleanup in 2025, the firm has already surpassed the Central Bank of Nigeria’s minimum capital requirement, signaling improved profitability and future dividend potential.

The Lagos Rail Mass Transit Blue Line has surpassed 8 million passengers over its first 1,000 days of commercial operations. Concurrently, construction has advanced on the project’s Phase II extension, with the installation of the first precast T-beam between Mile 2 and Okokomaiko. This milestone signals the transition of the elevated railway project from foundation works to superstructure construction. The project is being developed by the Lagos Metropolitan Area Transport Authority in partnership with China Civil Engineering Construction Corporation.

The Central Bank of Nigeria (CBN) has launched the FX BDC Purchase Tracker (FXBT), a centralized electronic platform designed to provide real-time oversight of Bureau De Change (BDC) foreign exchange transactions. Under the new framework, all BDC purchases of foreign exchange from authorized dealer banks must be processed through this platform, enabling the regulator to monitor compliance, enforce weekly purchase limits, and prevent market abuses such as speculative hoarding.

Key provisions of the new guidelines include mandatory Know-Your-Customer (KYC) and due diligence checks by banks before processing any FX requests, and a strict requirement for BDCs to resell any unutilized foreign exchange back to the Nigerian Foreign Exchange Market (NFEM) within 24 hours of the utilization period expiring. The regulator has also prohibited third-party transactions and exclusivity arrangements between banks and BDCs, warning that breaches will attract severe sanctions, including license revocation and referral to law enforcement. This initiative follows the CBN’s February policy allowing licensed BDCs access to the official market, aiming to further stabilize the retail segment and reduce reliance on informal channels.

The Central Bank of Nigeria (CBN) aims to increase monthly diaspora remittances to $1 billion by the end of 2026, marking a 67% growth from current levels of over $600 million. CBN Governor Olayemi Cardoso announced the target during the BusinessDay CEO Forum in Lagos, highlighting that collaborative strategies with commercial banks and improved engagement with Nigerians abroad are driving the surge. Additionally, Cardoso reported that Nigeria’s gross external reserves have risen by 63% to nearly $52 billion since September 2023, while net reserves have grown from $3 billion to over $40 billion, bolstered by ongoing foreign exchange market reforms.

The Securities and Exchange Commission (SEC) has initiated a nationwide campaign to recover approximately N270 billion in unclaimed dividends and dormant investor funds. Launched at a town hall meeting in Lagos, the initiative aims to educate the public on verification procedures, the recovery of unclaimed monies, and the legal processes for transmitting securities to heirs of deceased investors.

SEC Director-General Emomotimi Agama described the persistent accumulation of unclaimed funds as unacceptable, emphasizing that these assets must be returned to their rightful owners. The campaign, which will extend across all six geopolitical zones and the Federal Capital Territory, also addresses the complexities of probate and inheritance, providing guidance on how families can access inherited shares.

Under the current custodial framework established by the Finance Act 2020 and the Investments and Securities Act 2025, funds unclaimed for six years are transferred to the Unclaimed Funds Trust Fund (UFTF). The government serves as a custodian rather than an owner, ensuring shareholders retain the right to reclaim their funds at any time following proper verification. The commission also reiterated warnings against fraudulent investment schemes and Ponzi activities.