The Debt Management Office (DMO) successfully allotted N929.32 billion in FGN bonds during its July 2026 auction, drawing total subscriptions of N1.74 trillion. Despite an initial offering of N1.2 trillion, the DMO accepted only 77.4% of the volume.

The auction featured three instruments: the 2035, 2037, and 2038 bonds. The 16.2499% FGN April 2037 bond saw the highest demand, with N665.19 billion in subscriptions and N381.46 billion allotted. Marginal rates for the instruments were set at 18.34%, 18.35%, and 18.40% respectively. This outcome signals sustained investor confidence in government securities, particularly in longer-dated papers, as market participants look to lock in yields amid shifting interest rate expectations.

In 2026, the Economic and Financial Crimes Commission (EFCC) has intensified its focus on corporate entities allegedly utilized for money laundering, fraud, and the diversion of public funds. Under Chairman Ola Olukoyede, the commission is increasingly targeting private firms, investment houses, and financial institutions as primary vehicles for economic offenses.

Major ongoing prosecutions include:

• Chayomi Aluminum Limited: Alleged N1.87 billion foreign exchange fraud.
• Jasfad Resources Enterprises: Linked to a N1.6 billion money laundering case involving public funds.
• Abu-Haneefa Oil and Gas Ltd: Facing charges involving N691.68 million in suspected illicit fund transfers.
• FC Njoku and Company: Accused of receiving over N240 million in proceeds related to Nigerian Railway Corporation procurement abuses.
• Cresco Oil and Gas Limited: Alleged conversion of N336.99 million belonging to Lotus Bank.
• 606 Autos, 606 Music, and Splash Off Entertainment: Accused of concealing and transferring N206 million in criminal proceeds.
• Intermediate Investment Holdings Limited: Alleged $1.5 million investment fraud.
• Viscount Microfinance Bank: Alleged conversion of N19 million and $30,000 in investor funds.
• Ski Hi-Entertainment: Prosecution involving N16.85 million in dishonored cheques.

These cases highlight a shifting enforcement strategy that emphasizes following money trails and holding both corporate entities and their executives accountable for financial misconduct. All defendants are currently presumed innocent pending judicial determination.

Unilever Nigeria Plc reported a resilient performance for the first half of 2026, with profit after tax rising 8.3% to N15.60 billion. Revenue grew 22.2% to hit N119.92 billion, crossing the N100 billion mark for a half-year period for the first time. The growth was primarily driven by the Foods division, which contributed N77.05 billion to the total turnover. Despite a 16.4% increase in the cost of sales and a significant rise in marketing expenditure to N13.96 billion—aimed at defending market share—the company improved its gross profit margin to 45.6%. Unilever continues to maintain a strong liquidity position with N97.15 billion in cash and cash equivalents, even after accounting for significant dividend payments and capital investments.

The Federal Ministry of Education has officially refuted social media reports alleging an attack on the Federal Government Girls’ College (FGGC) in Monguno, Borno State. In a statement, the Ministry described the claims as false and misleading, confirming that the school is secure, with all students and staff safe and academic activities proceeding without disruption. Minister of Education, Dr. Maruf Tunji Alausa, clarified that the incident falsely linked to the college actually involved remedial students outside the school premises. The government has urged the public and media to verify information through official channels to avoid unnecessary panic.

Nigeria’s National Blockchain Policy, launched in 2023 with a target of unlocking $40 billion in economic value, remains largely dormant. Industry experts note that while the government has shifted its focus toward regulating cryptocurrencies—most recently through the Virtual Assets Executive Order—the broader implementation of infrastructure to support blockchain technology has stalled. Critics argue that by prioritizing crypto oversight over the development of foundational digital infrastructure, Nigeria risks losing out on a potential $2 trillion long-term economic opportunity, including advancements in trade finance, digital identity, and government service delivery. The delay has also contributed to capital flight, as startups continue to seek more favourable regulatory environments abroad. Stakeholders are now calling for a transition from policy rhetoric to tangible institutional action to secure Nigeria’s position as a regional blockchain innovation hub.

Coronation Infrastructure Fund has reported an operating profit of N791.50 million for the first half of 2026, supported by total income of N889.78 million, 99% of which was derived from interest income. The Fund has proposed an income distribution of N8.985 per unit, representing a slight 1.37% decrease from the previous half-year distribution. Key financial highlights include a net asset value of N9.82 billion and a total asset base of N9.88 billion as of June 30, 2026. The qualification date for the proposed dividend is July 22, 2026, with payments scheduled for July 28, 2026.

The Kogi State Government has implemented a technology-driven security framework to safeguard educational institutions across the state. The initiative includes the deployment of CCTV surveillance, enhanced perimeter fencing, and the use of trained, pensionable vigilance groups alongside conventional security agencies.

According to state officials, these measures have significantly bolstered security at institutions like the Confluence University of Science and Technology (CUSTECH) and various secondary schools. Furthermore, the state government attributed its increased capacity for infrastructure and social investment to the fiscal benefits arising from the federal removal of the petrol subsidy. Officials also highlighted the establishment of the Barefoot Renewable Energy College, which aims to train specialists in solar and green hydrogen technologies.

The Economic and Financial Crimes Commission (EFCC) has officially cleared the Comptroller General of the Nigeria Immigration Service (NIS), Kemi Nandap, of any involvement in ongoing investigations into visa racketeering. The Commission issued a statement on Monday dismissing media reports that linked the immigration chief to the scandal. While the EFCC confirmed that it is currently prosecuting several NIS officers for visa fraud and that further investigations are underway, it stressed that Nandap is not a subject of these inquiries. The anti-graft agency has urged the media to exercise caution and verify information to avoid misrepresenting its activities.

The Federal High Court in Lagos has dismissed a suit by the Wireless Application Service Providers Association of Nigeria (WASPAN) challenging the Federal Competition and Consumer Protection Commission’s (FCCPC) authority over digital lenders. Justice A.L. Allagoa ruled that the Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations (DEON) are valid and intra vires the Commission’s powers. Following this judgment, the FCCPC has resumed the full enforcement of these regulations, which are designed to curb exploitative lending practices and improve consumer protection in the digital credit market.

Fidelis Chiwara, Flutterwave’s Global Expansions and Payment Partnerships Lead for Southern Africa, recently addressed the Africa Tech 50 (AT50) Market Open panel at the Johannesburg Stock Exchange. Discussing the future of African private companies, Chiwara emphasized that long-term institutional growth requires strong governance, regulatory compliance, and cross-border infrastructure. He advocated for deeper collaboration between tech companies, financial institutions, and investors to foster the next generation of globally competitive African businesses, reaffirming Flutterwave’s commitment to scaling its financial infrastructure across the continent.

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.

The Nigerian equities market began the week on a bullish note, with the NGX All-Share Index climbing 1.12% to close at 246,183.96 points. Investor wealth surged by N1.76 trillion, pushing total market capitalization to N158.81 trillion. Trading activity intensified, with volume, value, and deal counts rising significantly. First HoldCo was the session’s standout performer, gaining 9.95% to close at N105.50, following a strong half-year profit report of over N653.5 billion. Sustained demand for banking and industrial stocks, including significant gains from Custodian Investment, NEM Insurance, and BUA Cement, drove the market’s positive momentum.

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.