The Federal Government, in collaboration with UNESCO and the African Union, has launched a mobile learning initiative aimed at improving teacher professional development across Nigeria. The three-day Master Training Programme, held in Abuja from July 21 to July 23, 2026, focuses on empowering female teachers and school leaders through the Pan-African Virtual and Electronic University (PAVEU) platform. Funded by the Japanese government, the initiative provides low-data, offline-friendly digital tools to overcome infrastructure and geographical barriers. This project, which also includes Algeria, Cameroon, Kenya, and South Sudan, seeks to enhance educator capacity and drive better learning outcomes through innovative technology.

The Central Bank of Nigeria (CBN) has confirmed it opened two foreign-currency domiciliary accounts for the Presidential Foreign Investment Promotion Council (PFIPC) following a directive from the Office of the Accountant-General of the Federation. However, the CBN stated that the accounts remained inactive with zero balances, as they lacked the necessary documentation and authorized signatories for activation.

This testimony, provided by the Director of Banking Services, Hamisu Ibrahim, contradicts earlier claims by the Accountant-General that no such accounts existed. Simultaneously, the Head of the Civil Service of the Federation, Didi Walson-Jack, denied allocating office space to the council, clarifying that the address in question falls under the purview of the Secretary to the Government of the Federation. The House of Representatives Ad-hoc Committee, investigating the legitimacy of the agency, has summoned top government officials, including the Secretary to the Government of the Federation and the Inspector-General of Police, to appear for further questioning.

The Federal Government has dismissed claims that the Tinubu administration added N80 trillion to Nigeria’s debt stock, labeling the figures as misleading. Finance Minister Taiwo Oyedele explained to the Senate Committee on Finance that the apparent surge is primarily due to accounting adjustments rather than new borrowing. Specifically, the revaluation of foreign currency obligations following naira depreciation added over N40 trillion to the debt figures, while the securitization of N33 trillion in Ways and Means advances—obligations inherited from the previous administration—accounted for another major portion. The Minister emphasized that current domestic borrowing is largely focused on refinancing maturing debts, maintaining that the administration remains committed to debt sustainability. Meanwhile, the Senate Committee expressed concerns over the slow implementation of the 2026 capital budget, with officials promising to improve project execution through performance-based budgeting.

Crude oil prices cooled slightly on Tuesday, trading around $88 per barrel, as reports emerged of potential ceasefire talks between the United States and Iran. This follows a sharp rally that pushed prices toward the $90 mark earlier in the week, driven by intensifying geopolitical tensions and disrupted shipping through the Strait of Hormuz.

While market participants are cautiously optimistic about a diplomatic de-escalation, the region remains volatile. Continued military activity and concerns over the security of critical oil transit routes have kept investors on edge. For Nigeria, sustained oil prices well above the government’s budget benchmark of $64.85 per barrel remain a positive for fiscal revenue and foreign exchange inflows, though experts warn of potential inflationary risks from higher global fuel costs.

Afriland Properties Plc has urged for a comprehensive overhaul of the affordable housing sector in Africa, emphasizing that sustainable solutions require collective action from governments, investors, and policymakers. Speaking at the 20th Africa International Housing Show, Managing Director Azubike Emodi argued that developers cannot solve the housing deficit in isolation. He highlighted that progress depends on addressing the entire value chain, specifically through cost-effective construction techniques, policy reforms, and improved financing options. Emodi noted that despite developer willingness, high costs and regulatory hurdles continue to limit large-scale delivery of homes that align with the purchasing power of the population.

The Ministry of Defence has officially refuted viral social media reports alleging that General Christopher Gwabin Musa, the Chief of Defence Staff, intends to resign from his position. In a statement released by his media office, the Ministry dismissed the claims as malicious and entirely fabricated. The statement reaffirmed that General Musa remains fully committed to his security mandate and continues to oversee the nation’s defence strategy. The public has been urged to disregard these reports and rely only on official communication.

FMDQ Securities Exchange has approved the quotation of TeleAfrica Communications Limited’s N3.31 billion Commercial Paper (CP) issuance. The issuance is divided into three tranches: N130 million (Series 1 Tranche A), N140 million (Series 1 Tranche B), and N3.04 billion (Series 1 Tranche C), all under a N20 billion CP Programme. The funds will be utilized to support the company’s working capital requirements and enhance its interconnect infrastructure services for the telecommunications sector. The issuance was sponsored by AIICO Capital Limited, alongside Anchoria Advisory Services and FCSL Asset Management.

The Federal Capital Territory (FCT) Police Command has detained four officers for the illegal extortion of N53,000 from Musa Aliyu, Chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC). The officers, who had deserted their official duty posts to set up an unauthorized checkpoint in the Banex area of Wuse, Abuja, coerced the ICPC chairman into withdrawing the funds via a Point of Sale operator. FCT Commissioner of Police, Ahmed Sanusi, condemned the act, confirming that the suspects are in custody and facing disciplinary procedures, with dismissal likely. The command has reiterated the Inspector-General of Police’s directive banning unauthorized mobile phone searches by patrol officers and urged the public to report misconduct.

FMDQ Securities Exchange has approved the listing of Paras Energy Funding SPV Plc’s N15 billion, 5-year, 18% Series 1 Fixed Rate Bond. Issued under a N25 billion programme, the bond is designed to support the capital requirements of the Paras Energy group, an independent power provider for Nigeria’s national grid and industrial users. The funds, raised with the support of Rand Merchant Bank Nigeria and FCMB Capital Markets, will be used for infrastructure expansion and the refinancing of existing debt obligations to enhance power supply reliability.

At the 14th Annual BusinessDay CEO Forum, Central Bank of Nigeria (CBN) Governor Olayemi Cardoso highlighted key achievements in foreign exchange management and the successful conclusion of the banking sector recapitalization exercise. Governor Cardoso noted that the unification of the forex market and the ‘willing-buyer, willing-seller’ model have stabilized the exchange rate and bolstered external reserves to over $52 billion. Regarding the recapitalization exercise, which concluded on March 31, 2026, 34 out of 37 banks successfully met the new capital requirements without extensions. Moving forward, the focus shifts to optimizing the ₦4–₦5 trillion raised during recapitalization to drive economic growth, even as the bank navigates external shocks and inflationary pressures.

Governor Babagana Zulum of Borno State has strengthened his partnership with the University of Maiduguri Teaching Hospital (UMTH) to enhance healthcare delivery, particularly for stroke treatment. The state government utilized N75 million from a larger N500 million intervention fund to ship donated medical equipment—including advanced diagnostic tools and ICU facilities—from the United States to the hospital. Governor Zulum also announced plans to replicate this initiative by providing infrastructure and equipment across 20 general hospitals throughout the state.

South African universities are facing warnings that rising xenophobia and anti-migrant sentiment are undermining their internationalization efforts. Experts caution that political pressure, including accusations that foreign academics displace local talent, is creating a hostile environment that threatens to discourage international students and deter academic collaboration across the continent. With government scrutiny intensifying and public rhetoric becoming more aggressive, university leaders are being urged to take a firmer stance against Afrophobia to protect the country’s status as a regional leader in higher education.

African central banks are shifting back to a hawkish monetary policy stance as concerns over renewed inflation mount. Following a brief period of stable interest rates, central banks in Ethiopia, South Africa, Namibia, Rwanda, and Tanzania have recently raised benchmark rates to combat price pressures.

This pivot is largely driven by rising global oil prices, currency volatility, and geopolitical tensions, which have collectively increased the risk of imported inflation across the continent. While some nations continue to hold rates steady or cautiously lower them, the general consensus among policymakers is becoming increasingly conservative, prioritizing price stability over economic expansion. Analysts suggest that the era of holding rates is fading, with further tightening likely as central banks attempt to preemptively address potential inflationary shocks.

Wema Bank has partnered with fintech firm Duplo to integrate financial operations and payment solutions into its ‘ALAT by Wema’ platform. The collaboration aims to streamline business processes by allowing small and medium-sized enterprises to automate payments, manage expenses, generate invoices, and reconcile transactions through a single digital dashboard. The service will initially launch for a select group of business customers before a broader rollout. According to the partners, the integration is designed to reduce manual operational inefficiencies and provide businesses with better financial visibility and control.

The Kaduna State Government has launched a three-day mid-year review of 52 revenue-generating Ministries, Departments, and Agencies (MDAs). Organised by the Ministry of Planning and Budget, the exercise aims to bolster internally generated revenue, enhance fiscal accountability, and ensure the effective implementation of the 2026 budget. Commissioner for Planning and Budget, Mulktar Ahmed, stated that the review will evaluate the state’s financial position to inform realistic projections. Agencies exceeding revenue targets may receive upward budget adjustments, while underperforming units will receive operational support. This initiative is designed to ensure that public resources are adequately managed to accelerate infrastructure and social development projects.

Lanre Adisa, President of the Association of Advertising Agencies of Nigeria (AAAN), has cautioned companies against replacing creative agencies with Artificial Intelligence. Speaking ahead of the upcoming AAAN annual conference in Lagos, Adisa emphasized that while AI is a powerful tool for efficiency, it lacks the human intuition and strategic thinking required to effectively differentiate brands.

The conference, themed "AdVolution: The end of advertising as we know it and how to win what comes next," is scheduled for July 23–24. It aims to address industry challenges, including the talent gap and the evolution of marketing communications in a creator-driven economy. To enhance professional capabilities, the association is partnering with the Red and Yellow School in South Africa to provide world-class training for industry practitioners. Adisa urged agencies to move beyond traditional models and view AI as a supplement to, rather than a replacement for, human expertise.

Ethiopia has launched a 10-year residency program, or Golden Visa, for foreign investors, requiring a minimum direct investment of $10 million. An alternative entry path is available at a $5 million threshold, contingent upon significant local job creation. The program includes administrative processing fees of $10,000 to $12,500. While the initiative aims to streamline bureaucracy for high-impact investors, it does not provide an automatic route to citizenship, though it complements ongoing economic and real estate reforms within the country.

The iDICE Startup Bridge program, an initiative of the Federal Government of Nigeria implemented by the Bank of Industry, has launched the ‘Growth Lab,’ a 12-week accelerator for tech-enabled Nigerian startups. The program targets 12 startups across the country’s six geopolitical zones that have achieved early traction. Selected participants will receive a $100,000 cash investment in exchange for 7.5% equity, with potential for up to $250,000 in follow-on funding. Applications for the program are open until August 19, 2026.

Spain has secured a record $50 million in prize money after defeating Argentina 1-0 in the 2026 FIFA World Cup final at MetLife Stadium. This payout is part of a historic $871 million total prize fund, reflecting the commercial impact of FIFA’s expanded 48-team tournament format. Argentina, as runners-up, received $33 million. The prize structure, which includes significant participation and preparation grants for all nations, underscores the World Cup’s evolving status as a major global commercial asset, with revenues significantly bolstered by increased broadcasting and sponsorship deals.