Belgium eliminated co-hosts the United States from the 2026 World Cup with a decisive 4-1 victory in the Round of 16. The win, led by two goals from Charles De Ketelaere, secures Belgium a quarter-final match against Spain. The match took place amidst significant controversy surrounding the participation of American forward Folarin Balogun, whose red-card suspension was controversially overturned following political intervention by U.S. President Donald Trump. With this loss, the United States joins Canada and Mexico in exiting the tournament.

Emerald Holdco has launched a N6.94 billion bid to acquire approximately 11.74 million minority shares of Beta Glass Plc. The offer, priced at N590.94 per share, represents 1.96 percent of the company’s total issued share capital. This move follows Emerald Holdco’s recent acquisition of a majority stake in the packaging giant and is required by Nigerian regulatory authorities under the Investments and Securities Act. The offer has received approval from the Securities and Exchange Commission, with a qualification date set for June 25, 2026.

The Nigerian naira weakened to 1,410 per dollar in the parallel market on Monday, driven by increased demand from travelers ahead of the summer holiday season. This marks a slight depreciation from 1,408 on Friday. Conversely, the naira gained 0.78 percent in the official market last week, closing at 1,370.19 per dollar. While Nigeria’s external reserves have risen to 51.45 billion dollars, a report by Quest Merchant Bank highlights a 26 percent decline in overall foreign exchange inflows for June, attributed to lower crude oil prices and reduced exporter proceeds. Despite these supply challenges, analysts expect market conditions to remain resilient due to sustained offshore interest and improving macroeconomic fundamentals.

Energia Limited and its joint venture partner, Oando Plc, have officially inaugurated the Board of Trustees for the Ndokwa West-1 Host Community Development Trust (HCDT) in Delta State. The move, which aligns with the 2021 Petroleum Industry Act, aims to foster sustainable development and transparency in host communities.

During the event in Asaba, a Memorandum of Understanding was signed with seven host communities. Energia reports that it has invested over N15.94 billion in community initiatives since 2009 and currently dedicates 3 percent of its annual gross revenue to sustainable development programs. The newly appointed Board of Trustees has pledged to manage the trust’s resources with accountability to benefit both current and future generations.

The Financial Reporting Council (FRC) of Nigeria has introduced the draft Nigerian Actuarial Practice Regulations 2026, aimed at enhancing financial reporting standards and investor confidence. During a stakeholder event in Lagos, officials emphasized that the new framework will standardize risk calculations in the insurance, pension, and healthcare sectors. The initiative also aims to address the national shortage of actuarial experts through curriculum updates in universities and early-career awareness programs. Industry leaders and regulators committed to finalizing the regulations to align with international benchmarks and bolster national financial stability.

The Nigerian Senate Committee on Customs and Excise has approved the Nigeria Customs Service’s (NCS) 2026 fiscal budget, which includes a revenue target of N11.074 trillion and an expenditure estimate of N1.235 trillion.

Comptroller-General Adewale Adeniyi acknowledged that the agency generated N4.043 trillion in the first half of 2026, falling short of its mid-year projection. He attributed this primarily to global trade disruptions caused by geopolitical tensions in the Middle East, particularly around the Strait of Hormuz, which have reduced cargo throughput at Nigerian ports.

Despite these challenges, Adeniyi expressed confidence in hitting the full-year target, citing the deployment of the indigenous Unified Customs Information System (UCIS), enhanced anti-smuggling efforts, and ongoing trade facilitation reforms. The Senate committee commended the agency’s performance and urged management to remain diligent in meeting the ambitious annual goal. In 2025, the NCS exceeded its revenue target by N674.1 billion.

FCMB Asset Management Limited has received an upgrade to its national scale issuer ratings, moving to A(NG) long-term and A1(NG) short-term, according to GCR Ratings. The agency cited the firm’s competitive resilience, financial discipline, and the strength of the FCMB Group as key factors. James Ilori, CEO of FCMB Asset Management, stated that the upgrade validates the company’s long-term strategy of prioritizing capital preservation, rigorous governance, and reliable investment performance. As of late 2025, the firm maintains a top-five position in the Nigerian asset management market with a debt-free balance sheet.

The Nigerian Meteorological Agency (NiMet) has launched a 10-day training program in Abuja to equip agricultural extension officers with tools for climate risk management. Conducted in partnership with the International Livestock Research Institute, the workshop aims to help extension workers translate complex climate data into practical advice for farmers. By improving the ability to predict and respond to extreme weather, the initiative seeks to boost agricultural productivity, enhance food security, and build climate resilience for smallholder farmers across Nigeria.

Despite broad economic strain caused by the US-Iran conflict in the first half of 2026, four African currencies managed to appreciate against the US dollar. According to data from African Markets, the Zambian kwacha led the continent with a 7.73 percent gain, followed by the Nigerian naira at 3.36 percent, the South African rand at 0.90 percent, and the Namibian dollar at 0.66 percent. While these nations benefited from improved commodity exports and market reforms, the majority of African currencies tracked—thirteen in total—saw significant declines as higher energy costs and inflationary pressures weighed on regional economies.

The National Sugar Development Council (NSDC) has launched the National Sugar Master Plan (NSMP) 2.0, a strategy aiming to boost Nigeria’s local sugar production to two million metric tonnes. As part of this initiative, the NSDC has started a specialised technical training programme to address a critical talent deficit in the industry. The first cohort of 39 professionals has completed training focused on sugarcane cultivation and factory operations, with a second group of 41 set to begin shortly. NSDC CEO Kamar Bakrin emphasised that integrating advanced farming techniques with efficient factory processing is essential to reducing Nigeria’s dependence on sugar imports.

The Nigerian equities market saw a significant rebound on Monday, with the NGX All-Share Index climbing 2.15% to close at 234,178.23 points. This rally added N3.17 trillion to the total market capitalization, reaching N150.27 trillion and pushing the year-to-date return to 50.49%. The gains were broad-based, driven by strong buying interest across the banking, industrial, and oil and gas sectors as investors repositioned portfolios ahead of the second-quarter earnings season. Market participation also increased, with trading volume and value rising by 18.4% and 40.18%, respectively.

Mary-Maudline Nwifuru, wife of the Ebonyi State Governor and founder of the BERWO Foundation, has enrolled 200 people living with sickle cell disorder into the Ebonyi State Health Insurance Agency (EBSHIA). The initiative aims to alleviate the financial burden of lifelong medical care for these individuals, ensuring they have access to quality treatment. This program aligns with the administration’s broader healthcare goals to support vulnerable populations across the state.

United Bank for Africa (UBA) Plc has announced that Group Chairman Tony O. Elumelu will retire from the Board on August 21, 2026, following the completion of his 12-year tenure limit as mandated by the Central Bank of Nigeria.

The Board has elected Emmanuel N. Nnorom, a current non-executive director, to succeed Elumelu. Nnorom, a chartered accountant with over 40 years of experience in banking and finance, previously held several executive roles within UBA, including Group Chief Financial Officer and Managing Director of UBA Africa. His transition marks a new leadership phase for the pan-African bank, which currently operates in 20 African countries and four global financial centers.

Sharafadeen Alli, the All Progressives Congress (APC) governorship candidate in Oyo State, has fulfilled a N25 million pledge to traders at Ibadan’s Bode Market. The funds were delivered to market leader Sikiratu Makinde by Alli’s representative, Shina Alabi, who emphasized the candidate’s commitment to grassroots economic development and the welfare of small business owners. Traders expressed their appreciation for the support, which they described as both timely and impactful.

Victoria Adunola Samson, Group Managing Director and CEO of BOVAS Group, has been officially installed as the third Chancellor of Osun State University (UNIOSUN). During her investiture, Samson pledged to elevate the institution into Nigeria’s top 10 universities within the next five years. Her strategic priorities include enhancing campus infrastructure, fostering stronger collaborations between academia and industry, and improving the university’s webometric rankings. Governor Ademola Adeleke, who presided over the ceremony, lauded Samson’s integrity and leadership. She succeeds Apostle Folorunso Alakija, who held the position from 2016 to 2026. During the event, the Governor also commissioned four new infrastructure projects at the university.

Awabah has partnered with TeamApt, the parent company of Moniepoint, to simplify pension access for Nigeria’s informal sector. By leveraging Moniepoint’s extensive network of POS terminals—used by millions of small businesses—the initiative allows informal workers to register for pension plans and make contributions starting from ₦500. This partnership aims to bridge the distribution gap that has left most informal earners without retirement coverage, moving away from traditional models designed for salaried employees. Awabah, the first PenCom-accredited pension agent, hopes this infrastructure-led approach will drive 2 million enrolments in 2026.

Seplat Energy and the NNPC Exploration and Production Limited (NEPL) joint venture have invested over N100 million in school infrastructure and educational development across their host states of Edo and Delta since 2012. This investment, largely driven by the annual PEARLS Quiz Initiative, has impacted more than 57,000 students. In the 2026 edition of the competition, Notre Dame College, Ozoro, emerged as the overall winner, receiving a N10 million infrastructure grant. In total, the top three schools were awarded N18 million to support local development projects, reinforcing the partnership’s commitment to improving educational outcomes and nurturing future leaders.

The Debt Management Office (DMO) has opened subscriptions for its July 2026 FGN Savings Bonds, offering interest rates of 14.716% for a two-year tenor and 15.716% for a three-year tenor. These rates represent a 94-basis point increase over the June issuance, marking the highest returns for the program this year. The subscription window is open from July 6 to July 10, 2026, with a minimum investment of 5,000 Naira. These government-backed securities are available to retail investors through appointed stockbrokers and offer quarterly interest payments.

Nasarawa State Governor Abdullahi Sule has urged the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC) to adjust the national revenue allocation formula to reflect the state’s rapid population growth. During a meeting with an RMAFC delegation, the Governor highlighted that areas like Karu Local Government have seen explosive demographic surges, with voter numbers rising from 100,000 to over 730,000, which he argues is not currently matched by federal funding.

Beyond demographic updates, Governor Sule pushed for the activation of stalled oil exploration in the state, citing commercial deposits in the Benue Trough. He advocated for the derivation principle to be applied to oil and solid mineral production, arguing that diversifying production zones across Nigeria is essential for economic resilience. The RMAFC team is currently conducting a nationwide verification exercise to review fiscal data and ensure fairer revenue distribution.