Foreign investor participation on the Nigerian Exchange (NGX) dropped to a three-month low in May, falling nearly 26 percent to 183.6 billion naira. Despite an overall record-high monthly market turnover of 1.94 trillion naira, offshore investors remained net sellers, withdrawing 8.41 billion naira more than they invested. Analysts attribute the decline to rising global market caution and concerns over the operational shift to a T+1 settlement cycle, which has sparked uncertainty regarding cash settlement timing. While foreign interest waned, domestic investors continued to drive market activity, even as institutional players rebalanced portfolios toward higher-yielding fixed-income instruments.

One year after Ethiopia opened its banking sector to foreign competition, the anticipated influx of international lenders has not yet occurred. Instead, the National Bank of Ethiopia (NBE) is focusing on strengthening domestic institutions by pushing for industry consolidation and raising minimum capital requirements to 5 billion birr by 2026. While several regional banks have expressed interest, restrictions such as a 49 percent cap on foreign ownership have slowed immediate acquisition-led entry. Simultaneously, the government is modernizing the financial system through the new Ethiopian Securities Exchange and the introduction of investment banking licenses. Authorities view this gradual approach as essential to ensuring local banks can compete effectively once foreign players fully enter the market.

The National Sugar Development Council (NSDC) has launched an elite, residential training programme to support the National Sugar Master Plan (NSMP) 2.0. Aimed at achieving a national target of 2 million metric tonnes of domestic sugar production, the initiative focuses on equipping industry professionals with specialized skills in sugarcane biology, irrigation, and factory efficiency. The training brings together employees from major industry players, including Dangote, BUA, and Sunti Golden Sugar Estate, to foster a collaborative and performance-driven workforce capable of reducing Nigeria’s dependence on sugar imports.

RMB Nigeria Asset Management Limited’s flagship money market fund has received a two-notch credit rating upgrade to ‘A+’ from Agusto & Co. The rating agency cited the fund’s high-quality asset base, strong liquidity, and disciplined risk management as key drivers for the upgrade. Kike Mesubi, CEO of RMB Nigeria Asset Management, stated that the move validates the firm’s focus on capital preservation and consistent performance amidst a challenging macroeconomic environment.

The Centre for the Promotion of Private Enterprise (CPPE) projects a gradual economic recovery for Nigeria in the second half of 2026, bolstered by growth in sectors like telecommunications, construction, and oil refining. While macroeconomic indicators show improvement compared to early 2026, the CPPE warns that rising political activity leading up to the 2027 general elections could hinder reform progress and fuel inflationary pressure. CEO Muda Yusuf emphasizes that the government must now pivot from mere stabilization to structural reforms, specifically addressing power, transportation, and security to boost business competitiveness and productivity.

CarbonAI CEO Debola Ibiyode has urged the Nigerian government to implement robust regulatory frameworks to ensure the long-term economic benefits of artificial intelligence. Speaking at the 2026 AI Summit in Lagos, Ibiyode argued that while AI offers significant growth potential, innovation without safeguards poses risks that could deter investment and undermine profitability. She emphasized that corporations now prioritize trust, transparency, and data accountability, which can only be achieved through clear regulation. Furthermore, she advocated for “AI Diplomacy” to help Nigeria maintain sovereignty over its data, warning that proactive measures are necessary to protect citizens from threats like deepfakes.

Academy Press Plc has reported a sharp decline in its 2026 full-year financial results, with pre-tax profit falling 78.4% to N253.45 million compared to N1.17 billion in 2025. Revenue saw a mild contraction of 3.75% to N4.41 billion, while profit after tax dropped 65% to N253 million. The company attributed the poor performance to higher operating expenses, weaker margins, and a significant decrease in other operating income. Consequently, the board has proposed a dividend of 10 kobo per share, down from 15 kobo in the previous year, subject to shareholder approval.

The Nigerian Federal Government has initiated talks with the Dangote refinery and oil marketers to address the high cost of petrol. Minister of Petroleum Resources, Heineken Lokpobiri, argued that despite a moderation in global crude oil prices, domestic pump prices remain elevated at over N1,296 per liter. Government officials emphasized that deregulation should not lead to excessive pricing and are pushing for these lower international costs to be passed on to Nigerian consumers. Regulators noted that while they seek to maintain business sustainability, they are determined to eliminate market distortions and align retail prices with current replacement costs.

PZ Cussons Nigeria Plc has reported a significant financial turnaround for the fiscal year ending May 31, 2026. The company’s pre-tax profit surged 364% to N77.32 billion, up from N16.66 billion the previous year, while revenue grew by 22.49% to N260.46 billion.

The company attributed its strong performance to a mix of volume and price initiatives, foreign exchange gains of N11.84 billion, and a substantial increase in other income—driven by the sale of properties—which reached N39.82 billion. PZ Cussons also significantly improved its balance sheet by reducing group borrowings by 91.72% to N5.90 billion, successfully returning to positive equity of N70.57 billion. Earnings per share rose to N11.80, a 413% increase year-over-year.

The Nigerian Naira has achieved relative stability in 2026, trading below the 1,400 mark against the US Dollar. Currently hovering around 1,370, the currency’s resilience is attributed to the Central Bank of Nigeria’s (CBN) hawkish monetary policy, which has kept the interest rate at 26.67%, and an increase in foreign exchange reserves to approximately 51 billion dollars.

Supported by rising crude oil production—averaging 1.48 million barrels per day—and cooling inflation, analysts project the Naira will remain in a stable range between 1,350 and 1,520 for the remainder of the year. While high interest rates have attracted foreign portfolio inflows, they continue to limit domestic credit growth. Future stability remains dependent on sustained oil production volumes and external global economic factors.

Interest in second passports is rising as individuals seek greater travel freedom, business opportunities, and security. In 2026, five countries stand out for their accessible pathways to citizenship:

1. Ireland: Primarily for those with Irish ancestry, this route requires no residency or investment, granting EU citizenship through family heritage.
2. St. Kitts and Nevis: Offers a citizenship-by-investment program requiring a $250,000 contribution, with no residency requirements.
3. Vanuatu: Known for one of the world’s fastest processes, typically granting citizenship within two months for a minimum $130,000 contribution.
4. Grenada: Requires a $235,000 investment and provides unique access to the U.S. E-2 investor visa.
5. Dominica: Offers a cost-effective investment route at $200,000 with no residency or language requirements.

While these programs vary in cost and benefits, they remain the most straightforward options for obtaining a second nationality.

The 2026 Access Bank Cup, held at the historic Guards Polo Club in Surrey, UK, served as a hub for business leaders, diplomats, and government officials to discuss economic growth and social development. Beyond the sporting event, the initiative highlighted a long-standing partnership with UNICEF and Fifth Chukker. Since its inception, the program has raised over $3 million, resulting in the construction of 60 classroom blocks and providing educational support to more than 14,000 children in Nigeria’s Kaduna State. Executives from Access Bank emphasized that these efforts are central to the institution’s commitment to creating social impact alongside financial growth.

Flutterwave co-founder Iyinoluwa Aboyeji has revealed that the fintech giant faced over 600 investor rejections before achieving its billion-dollar success. Potential backers frequently dismissed the company, arguing it could not compete against established industry leader Interswitch. Despite these early setbacks, the firm persisted to become one of Africa’s most valuable technology companies. Beyond his company’s journey, Aboyeji also criticized Nigeria’s economic policies, citing poor infrastructure and unreliable electricity as major hurdles to industrialization, while urging policymakers to focus on sectors where the nation holds a natural competitive advantage.

Aliko Dangote has seen approximately N4.23 trillion wiped from his equity portfolio on the Nigerian Exchange Limited (NGX) over a 24-day period ending July 3. This significant decline in paper wealth is primarily attributed to investors aggressively repricing his flagship company, Dangote Cement Plc, following a post-dividend markdown and broader macroeconomic volatility.

UN Secretary-General Antonio Guterres has warned that artificial intelligence is advancing faster than governments and developers can manage, posing significant risks to economies, security, and society. Speaking at the first UN Global Dialogue on AI Governance in Geneva, Guterres urged for coordinated global rules and effective oversight, stating that innovation must be accompanied by guardrails. The event aims to build international consensus on managing AI risks, with plans for a more comprehensive assessment to be published next year.

To mark its 10th anniversary in Nigeria, the brokerage firm HFM has partnered with the nonprofit Slum2School Africa to provide scholarships to 50 children in the Makoko community of Lagos. The initiative goes beyond financial aid, offering tuition, learning materials, and mentorship programs designed to help students connect with professionals and expand their career aspirations. The collaboration highlights a commitment to reducing the number of out-of-school children by combining private-sector funding with community-based educational support.

The National Industrial Court in Abuja has initiated contempt proceedings against Tola Odeyemi, the Postmaster General of the Nigerian Postal Service (NIPOST), over the alleged failure to comply with a court order. The case involves former employee Sandra Saidu, whose 2004 compulsory retirement was declared illegal by the court in February 2026. The court had ordered NIPOST to reinstate Saidu and pay all outstanding salaries and entitlements dating back to 2004. However, NIPOST maintains that Saidu abandoned her post for 17 years. The matter is set for a hearing on July 15, 2026, where the Postmaster General must explain why she should not be committed to prison for the alleged disobedience.

The Nigerian Meteorological Agency (NiMet) has issued an urgent warning regarding the risk of flash flooding in 27 states during the first 10 days of July. The agency cited heavily saturated soil from June’s persistent rainfall as a major factor that will likely exacerbate flooding as the rainy season reaches its peak. Affected regions include states across the north, middle belt, and southern parts of the country. NiMet warned that the anticipated downpours could disrupt transportation, damage infrastructure, threaten agricultural yields, and increase the risk of waterborne diseases. The agency is urging residents to clear drainage systems, avoid flood-prone areas, and follow official weather advisories, while calling on emergency management agencies to strengthen preparedness and response measures.

Creditville Group has stated that its business operations remain fully functional despite regulatory action taken by the Central Bank of Nigeria (CBN) against its subsidiary, Creditville Microfinance Bank. The Group clarified that the regulatory measures are isolated to the microfinance unit and do not impact the operations, financial standing, or compliance of its other subsidiaries, including consumer lending, leasing, and asset management. Group Managing Director Ifeanyi Njoku stated that the company is working constructively with the CBN to resolve the matter and emphasized that its core priority is maintaining customer confidence.