The Oyo State College of Nursing and Midwifery has dismissed reports alleging the closure of its Kishi and Oyo satellite campuses due to security concerns. Provost Gbonjubola Owolabi clarified that the campuses remain fully operational and that all academic activities are proceeding as scheduled. To support continued learning, the college management has distributed virtual learning equipment to the satellite locations. The institution urged the public to disregard the rumors, labeling them as malicious misinformation, and emphasized that all official updates will be provided exclusively through its verified communication channels.

FirstHoldCo PLC reported strong financial results for the half-year ended June 30, 2026, marking a significant milestone in its strategic transformation. The Group achieved gross earnings of N1.93 trillion, a 16.7% year-on-year increase, while Profit Before Tax (PBT) surged 83.5% to N653.5 billion. Operating income rose by 25.8% to N1.38 trillion.

Operational efficiency improved, with the cost-to-income ratio strengthening to 44.2% from 50.5% in H1 2025. Risk management also yielded positive results, as impairment charges declined by 37.4%. A major highlight was the restoration of FirstBank’s Capital Adequacy Ratio to 16.7% ahead of schedule, supported by a 52.2% liquidity ratio. The Group’s non-banking segments, specifically Investment Banking and Asset Management, contributed N46.0 billion in gross earnings, further diversifying the firm’s revenue base.

emPLE Nigeria has launched a new five-year strategic plan aimed at securing a position among the top five insurance providers in the country. This initiative follows the company’s successful completion of the recapitalisation exercise under the Nigeria Insurance Industry Reform Act (NIIRA) 2025.

Leveraging its strengthened financial base, emPLE plans to prioritize digital transformation, product innovation, and market expansion. Leadership from both the General and Life insurance arms of the group emphasized that this capital boost will be utilized to improve customer experience, address the national insurance protection gap, and support Nigeria’s broader economic growth objectives.

The Onitsha Drug Market (Ogbogwu Market) has partnered with the Anambra State Ministry of Health to conduct a five-day free medical outreach for its traders. The initiative, spearheaded by the market’s Caretaker Committee, provided screening for high blood pressure, diabetes, malaria, and eye conditions to over 3,000 traders. To ensure long-term health access, the market has also established an on-site, government-staffed clinic at its union office. The program, which utilized over 5 million naira worth of medication, aims to provide essential healthcare services to low-income traders who face barriers to traditional hospital access.

A new analysis of Google Play Store data as of July 2026 highlights the top 10 most downloaded banking applications in Nigeria, reflecting the sector’s shift toward digital-first service delivery.

Access Bank’s "Access More" leads the market within the 10 million-plus download bracket, boasting over 746,000 reviews and a 4.5-star rating. It is followed by UBA Mobile Banking and FirstBank’s FirstMobile, both also commanding 10 million-plus downloads with 4.5-star ratings. Zenith Bank’s app also resides in the 10 million-plus tier, holding a 4.2-star rating.

In the 5 million-plus download category, Guaranty Trust Bank’s GTWorld stands out with a 4.5-star rating, while FCMB Mobile holds a 4.3-star rating. Other notable apps in the 1 million-plus bracket include Fidelity Online Banking (4.2 stars), Stanbic IBTC Mobile (4.2 stars), KeyMobile (4.0 stars), and ALAT (3.9 stars). The ranking methodology prioritized cumulative download thresholds, followed by user ratings and review volume.

The Osun State chapter of the Association of Local Governments of Nigeria (ALGON) has suspended the activities of all transport unions, including the NURTW and RTEAN, across state-owned motor parks. This decision follows escalating violent clashes and leadership crises within the unions that have threatened public safety. In response to the unrest, the Nigeria Police Force has taken control of all public motor parks and garages across the state’s 30 local government areas. ALGON leadership cited the need to curb criminal activities and restore public confidence, asserting their constitutional authority to manage these facilities. Both the state government and police command have called for an end to hostilities as investigations into the violence continue.

Etex Group has appointed Peju Adebajo as the new Managing Director of its Nigerian subsidiaries, Nigerite Limited and Emenite Limited. She succeeds Denis Simonin, who led the companies for six years. Adebajo brings over 30 years of experience in manufacturing, building materials, and corporate governance. She currently serves as an Independent Non-Executive Director at FCMB Group Plc and previously held leadership roles at Lafarge Africa Plc, Mouka Limited, and Lumos Nigeria. Adebajo is expected to focus on operational excellence, innovation, and long-term value creation in the Nigerian market.

The United Nations has warned that terrorist groups in Nigeria and the Sahel are significantly upgrading their operational capabilities by adopting commercial drones, encrypted communications, and cryptocurrencies. Leonardo Simão, the UN Secretary-General’s Special Representative, reported that insurgents are modifying inexpensive commercial quadcopters for surveillance and offensive operations, complicating counterterrorism efforts. Additionally, the shift toward digital assets for financing presents new challenges for authorities, as cryptocurrencies potentially allow for more discreet, cross-border funding that bypasses traditional banking oversight. These technological advancements represent a critical evolution in the insurgency, necessitating enhanced tracking and disruption strategies from security forces.

A U.S. federal judge has formally approved a $1.5 billion settlement between AI startup Anthropic and a group of authors. The lawsuit, filed in 2024, alleged that Anthropic used pirated books to train its Claude AI models. While the court previously ruled that training AI on copyrighted material qualifies as fair use, it also found Anthropic liable for maintaining an unauthorized central library of over 7 million books. This settlement marks the largest copyright payout in U.S. legal history, concluding a significant legal challenge for the company. Anthropic stated that over 91% of eligible plaintiffs have already filed claims for the settlement proceeds.

The Rivers State House of Assembly has suspended its threat to issue a warrant of arrest against the management of Heirs Energies Limited. The Assembly decided to re-engage with the company after receiving a letter from the firm’s CEO explaining their previous absence and confirming that a delegation would attend proceedings. The dispute stems from a petition filed by the Omuohia community regarding the alleged unfair termination of local contract staff. The House has referred the matter back to its Committee on Public Complaints and Petitions to facilitate a resolution.

Africa50 has appointed Djalal Khimdjee as the CEO of its Principal Investment Fund, effective August 1, 2026. Khimdjee, who joins from Proparco, brings over 25 years of experience in infrastructure investment and development finance. His leadership is expected to drive the fund’s growth, scale its investment platform, and further accelerate infrastructure development across the continent.

The Centre for the Promotion of Private Enterprise (CPPE) has warned that Nigeria’s newly launched, World Bank-backed social intervention programmes risk failure due to potential corruption, fund diversion, and political interference. While CPPE CEO Dr. Muda Yusuf acknowledged the programmes as a positive shift toward inclusive growth and welfare, he emphasized that their success depends on transparent, accountable implementation and insulating beneficiary selection from political influence. The organization further cautioned that these interventions should not be seen as a substitute for essential structural reforms, such as addressing insecurity, inflation, and infrastructure deficits, which remain critical for long-term poverty reduction.

Trading activity on the Nigerian Exchange Limited (NGX) reached a record N9.60 trillion in the first half of 2026, more than double the N4.19 trillion recorded in the same period last year. This surge, which eclipses previous full-year turnover totals, was primarily fueled by banking sector recapitalization, significant institutional buying, and robust participation from local retail investors. Domestic investors dominated the market, accounting for 87.93% (N8.448 trillion) of total activity, while foreign investors contributed 12.07%. High-cap stocks, including major banks, industrial, and consumer goods firms, were central to this liquidity expansion, signaling strong market resilience despite broader economic challenges.

LemFi has partnered with BVNK, an enterprise-grade stablecoin infrastructure provider, to transition its cross-border remittance services onto stablecoin settlement rails.

This move replaces traditional, multi-day correspondent banking and SWIFT networks with near-instant, lower-cost settlement infrastructure. The integration is designed to be invisible to end-users, who continue to interact with local currencies through the LemFi app, while the underlying technology processes value transfers in the background.

This initiative advances LemFi’s goal of reducing the high costs of global remittances, aligning with broader industry efforts to move money more efficiently. The rollout will occur progressively across international corridors, subject to local regulatory and central bank compliance. This development builds upon LemFi’s strategic shift toward stablecoin-driven remittances, supported by a previous investment from Tether in May 2026.

Sunday Adeyemo, known as Sunday Igboho, has announced that the Iru Ekun Security Network has surpassed its recruitment goal, registering over 80,000 volunteers across the South-West. Igboho reports that the initiative, which collaborates with federal security agencies, has contributed to a decline in kidnapping incidents in the region. The outfit has officially launched in Oyo and Osun states, with an expansion into Kwara State planned for this Thursday. While garnering support from various state governors and federal security institutions, the initiative faces calls from some analysts to remain a private security outfit rather than integrating into potential state police structures.

Alphabet shares rose 2.8% to over $356 on Monday, buoyed by reports that the company is developing a new, highly energy-efficient AI chip, dubbed "Frozen v2." The chip is designed to run Google’s Gemini models with greater efficiency. This gain partially reverses a 6.5% decline from the previous two sessions and adds $15 billion to the combined net worth of co-founders Larry Page and Sergey Brin. Alphabet shares are up 87.5% over the past year. Investors are now focused on the upcoming second-quarter earnings report, where analysts expect revenue of $117.1 billion and a significant 65% year-on-year surge in Google Cloud revenue. This positive market momentum persists despite ongoing regulatory challenges, specifically the European Commission’s recent directives under the Digital Markets Act aimed at curbing the company’s market dominance.

Fitch Ratings has affirmed Benue State’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDRs) at ‘B’ with a Stable Outlook, while upgrading its National Long-Term Rating to ‘A(nga)’ from ‘A-(nga)’. The ratings agency cited improved fiscal management, efficient debt servicing, and increased microeconomic activity as key drivers for the positive outlook. Additionally, Benue’s Standalone Credit Profile (SCP) was upgraded to ‘B’ from ‘B-‘. Despite these improvements, Fitch noted that the state’s Internally Generated Revenue (IGR) remains weak, contributing less than 10% to total operating revenue. Raymond Asemakaha, Group Managing Director of the Benue Investment and Property Company (BIPC), attributed these gains to Governor Hyacinth Alia’s fiscal discipline and strategic economic reforms.

Nigeria’s energy sector is facing a critical transition from focusing on gas reserves to addressing infrastructure bottlenecks. While the country holds 216 trillion cubic feet of gas reserves, the challenge remains in delivering this resource to power generation and industrial sectors. Despite recent milestones, such as domestic gas supply surpassing 2 billion cubic feet per day, the gap between supply and the projected 15 billion cubic feet demand by 2030 remains significant.

Speaking at the ALDG Business Forum 2026, Audrey Joe-Ezigbo, CEO of Falcon Corporation, emphasized that policy reforms like the Petroleum Industry Act and the Gas Master Plan have laid a foundation, but the true growth driver is now infrastructure deployment. The focus for operators is shifting toward midstream and downstream distribution networks, including last-mile delivery and localized energy solutions for industrial clusters, to bridge the access gap and ensure market competitiveness.

The Northern Christian Association (NCA) has formally requested that the Federal Government provide a clear explanation for the significant disparity in the 2026 Appropriation Bill’s allocations for religious projects. According to the association, approximately N1.91 billion has been earmarked for seven church-related projects, compared to N6.14 billion designated for 52 mosque-related projects. NCA Chairman Joseph John Hayab stated that this imbalance raises serious concerns regarding equity and transparency in public governance. The group argued that such funding discrepancies foster distrust and division, calling for a review of the allocations to align with constitutional principles that mandate equal treatment for all citizens regardless of religious affiliation.