Apple is expected to unveil its first foldable smartphone, tentatively dubbed the iPhone Ultra, at a launch event on September 9, 2026. With a rumored starting price of $1,999, market analysts project that the device could retail for over N3 million in Nigeria. This estimate accounts for additional costs, including importation, logistics, taxes, and current foreign exchange volatility. The move marks Apple’s debut in the foldable sector, positioning the device as an ultra-premium luxury offering.

The Bank of Agriculture (BOA), in collaboration with the Nigeria Commodity Exchange (NCX), has launched a N200 billion Guaranteed Minimum Price (GMP) scheme to stabilize food prices and protect farmers from post-harvest financial losses. The initiative aims to aggregate one million metric tonnes of grains, including rice, maize, and sorghum, directly from over 500,000 farmers. By establishing a price floor and securing supply, the program seeks to curb market volatility and boost production. Payments will be made directly to farmers’ accounts, with the NCX providing warehousing and quality grading infrastructure. Additionally, the government plans to support year-round farming through solar-powered irrigation financing.

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.

Moniepoint, a leading player in Nigeria’s fintech sector, has highlighted its failure-first engineering strategy designed to manage its daily volume of over 20 million card transactions. The approach focuses on system resilience, aiming to protect customers from the consequences of transaction failures within complex payment networks. At an inaugural industry engineering mixer in Lagos attended by peers from Flutterwave, Cowrywise, and Nomba, Moniepoint emphasized that building reliable infrastructure requires proactive observability and automated routing to limit transaction delays when banking systems experience downtime.

The Central Bank of Nigeria has designated the prevention of terrorism financing as a top supervisory priority, signalling increased regulatory scrutiny of the country’s financial institutions. The apex bank announced that it will enhance both on-site and off-site monitoring to ensure banks effectively manage terrorism financing risks, conduct robust transaction monitoring, and properly report suspicious activities. This move is part of a broader push to safeguard Nigeria’s financial system against money laundering and the illicit movement of funds, reinforcing compliance with domestic and international integrity standards.

MultiChoice is restructuring its DStv subscription packages in South Africa to move away from rigid, high-priced bundles, opting instead for a more modular approach that allows customers to pay for specific content like sports or movies. While the changes are currently limited to the South African market, they highlight a shift in the African pay-TV landscape where consumers increasingly demand flexibility over traditional, expensive channel bundling. Facing stiff competition from streaming services like Netflix and Prime Video, MultiChoice is pivoting toward its DStv Stream platform to remain competitive. This strategic repositioning, now under the influence of Canal+, reflects a broader trend of integrating satellite and streaming services to better align with changing consumer habits and economic pressures.

The United Kingdom has awarded scholarships to 68 Nigerian students for the 2026 academic year, covering master’s and PhD programs at various UK universities. The cohort comprises 12 Chevening Scholars and 56 Commonwealth Scholars, selected for their leadership potential and commitment to Nigeria’s development. Officials from the British High Commission encouraged the recipients to leverage their international education to drive positive change upon returning to Nigeria.

Yellow Card Financial Nigeria Limited has received conditional approval-in-principle from the Securities and Exchange Commission to join the Accelerated Regulatory Incubation Programme. This move allows the firm to engage with the SEC under a formal regulatory framework as it seeks to deepen its operations within the local digital asset market. The regulator clarified that this conditional admission does not constitute a full operating license for stablecoin products, emphasizing that the firm must continue to meet strict compliance and operational standards.

Open Space Financial Services Limited has launched an Ethical Finance initiative in Abuja, aiming to expand access to capital through Shariah-compliant financial structures. The firm is transitioning from conventional interest-based models to risk-sharing mechanisms including Murabaha, Ijarah, Diminishing Musharakah, and Mudaraba. To support this, the company has integrated a digital infrastructure featuring a single customer financial core, which automates services such as onboarding, KYC verification, and portfolio management to enhance transparency and efficiency.

Nigeria-based agribusiness, JR Farms Group, has entered into a $60 million implementation agreement with Liberia’s Ministry of Agriculture to revitalize the country’s coffee sector over the next 20 years. The initiative includes establishing commercial-scale coffee nursery hubs across five counties, training over 200,000 farmers, and developing processing infrastructure to integrate Liberian coffee into global markets. The project is expected to create nearly 500,000 jobs and significantly boost the nation’s export competitiveness.

Since May 2023, the administration of President Bola Ahmed Tinubu has secured over $50 billion in foreign direct investment pledges through 87 memoranda of understanding. However, National Bureau of Statistics data reveals that only $2.06 billion—roughly 4.3% of total capital imported during this period—has materialized as actual foreign direct investment. Analysts note that while these pledges signal investor interest, the gap reflects the long-term nature of direct investment, which requires rigorous risk assessment, regulatory approval, and final investment decisions before capital is deployed. Total capital importation has risen, but the bulk of inflows remains driven by mobile portfolio investments rather than long-term, job-creating direct projects.

President Bola Tinubu, alongside the World Bank and the Central Bank of Nigeria, has urged Nigerian banks to shift their focus from government securities toward financing the real economy. Speaking at the 19th Annual Banking and Finance Conference, the President emphasized that while banks have successfully completed their recapitalization—raising 4.65 trillion naira—the ultimate success of these reforms must be measured by their impact on job creation, production, and improved living standards for ordinary Nigerians. Stakeholders noted that as macroeconomic stability improves, the banking sector must now prioritize affordable credit to MSMEs and productive sectors like manufacturing and agriculture to drive sustainable economic prosperity.

Nigeria’s foreign exchange utilisation surged to $50.93 billion in 2025, marking a 91% increase from 2024 and the highest level since 2019. According to the Central Bank of Nigeria’s 2025 Statistical Bulletin, this rise was driven by significant growth in both import costs and invisible transactions, the latter of which accounted for $30.99 billion. Financial services and industrial sector requirements were primary drivers of the demand, reflecting broader activity across productive sectors.

Brent crude prices have surpassed the 100 dollar per barrel mark for the first time since July, driven by escalating tensions between the United States and Iran. The recent strike on three Iranian oil tankers, following attacks on U.S. warships, has intensified fears regarding global supply disruptions in the Strait of Hormuz. Goldman Sachs analysts have warned that crude prices could climb further to 120 dollars per barrel if shipping conflicts in the Middle East continue to intensify.

Learn Africa Plc has announced the resignation of Iyinoluwa Aboyeji from its Board of Directors, effective September 7, 2026. Aboyeji served as a Non-Executive Director for six years, having joined the board in 2020 to support the publisher’s digital transformation initiatives. The company acknowledged his contributions to its growth within the educational technology space but did not provide a specific reason for his departure.

Sunbeth Global Concepts Limited has successfully redeemed its N25.1 billion Series 1 Commercial Paper, which matured on September 4, 2026. This repayment is part of the company’s N200 billion Commercial Paper Programme, which aims to bolster its agricultural export operations. The successful redemption reinforces investor confidence in the firm’s financial discipline as it continues to expand its footprint in the Nigerian cocoa and cashew export markets.

The Central Bank of Nigeria faces a critical test in translating macroeconomic stability into tangible growth for households and small businesses. While the banking sector has strengthened, significant barriers to credit remain for micro, small, and medium enterprises, which contribute nearly half of the country’s GDP but receive minimal loan support. Industry experts highlight a financing gap exceeding 50 trillion naira in the real sector, driven by high interest rates, short loan tenors, and rigid collateral requirements. As the CBN continues its reform agenda, the focus is shifting toward ensuring that monetary stability fosters affordable, long-term credit to drive industrial expansion, productivity, and job creation across the economy.

As Dangote Petroleum Refinery prepares for its upcoming Initial Public Offering, recent analyst reports from CardinalStone, Chapel Hill Denham, and Renaissance Capital value the company between $53.9 billion and $62.5 billion (approximately N77.7 trillion to N82.6 trillion). These valuations exceed the refinery’s indicative market capitalization of N65.22 trillion at its N525 per share offer price. While the refinery maintains a highly concentrated ownership structure—with Aliko Dangote retaining an 84.34% beneficial interest post-IPO—the offering aims to raise N2.15 trillion to fund a 700,000 barrel-per-day capacity expansion. The refinery has also unveiled a 10-member board to guide its transition to a publicly listed entity. The IPO subscription period is scheduled to run from September 14 to October 13, 2026.

The Presidential Initiative on Compressed Natural Gas and Electric Vehicles (Pi-CNG/EV) reports that public safety misconceptions are hindering the widespread adoption of CNG as a fuel alternative in Nigeria. Chairman Ismaeel Ahmed emphasized that fears regarding the safety of CNG cylinders are largely unfounded, noting that the fuel has been safely utilized globally for over two decades. While the government is pushing CNG to mitigate high transportation costs, Ahmed stated that scaling the industry requires significant private investment in infrastructure, including compression and filling stations, to ensure both availability and affordability. Experts maintain that properly maintained CNG systems are safe, highlighting that the technology utilizes reinforced cylinders and automated safety sensors to manage risks. Despite the government’s 2023 initiative, infrastructure rollout continues to face delays, even as rising petrol prices drive increased interest in CNG conversion among transport operators.