Author: Ogochukwu Ndubuisi

Tinubu Signs NPERA Bill Into Law President Bola Tinubu has assented to the Nigerian Ports Economic Regulatory Agency (NPERA) Bill, 2026, granting the Nigerian Shippers’ Council (NSC) full legal backing. The development was announced by the NSC Executive Secretary, Dr Pius Akutah, on his verified Facebook page on Thursday. “Thank you, Mr President, for making the Nigerian Port Economic Regulatory Agency Act, 2026 a reality,” Akutah stated. Details of the assent and implementation framework were still sketchy as at press time. A maritime expert, Dr Eugene Nweke, said the Act paved the way for a statutory regulator with powers to…

CBN Lifts Restrictions on Banks’ Access to FX, Govt. Securities at DW The Central Bank of Nigeria (CBN) has lifted its previous restrictions on access to foreign exchange and government securities at the discount window (DW), effective immediately. The regulatory decision means that banks that participate in the FX market or buy government securities will no longer be automatically prevented from borrowing from the discount window to access liquidity. Under the new framework that will guide Nigerian lenders’ FX and money market activities, the Bank disclosed that it reviewed existing market practices and developments in the foreign exchange, money, and…

Nigeria Exceeds OPEC Quota for Third Month Nigeria surpassed its Organisation of Petroleum Exporting Countries (OPEC) crude oil production quota for the third consecutive month in July 2026, official data have shown. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) disclosed this in its July crude oil production statistics released on Wednesday. According to the commission, Nigeria produced 1.505 million barrels of crude oil daily and 0.17 million barrels of condensate during the month. The combined daily production stood at 1.67 million barrels per day, exceeding the country’s OPEC quota of 1.5 million barrels daily. The NUPRC said: “In the month…

The Nigerian naira strengthened against Western currencies, including the US dollar, at the foreign exchange market on Wednesday despite an increase in international payments.

Yellow Card Raises $40m, Targets Global Expansion, Regulatory Approvals A Fintech Company, Yellow Card, on Wednesday said it had raised $40 million to accelerate its global expansion, strengthen stablecoin infrastructure and pursue regulatory approvals across key markets. Mrs Lasbery Oludimu, Group Vice-President, Operations and Managing Director, Yellow Card Nigeria, disclosed this at a media conference in Lagos. Yellow Card is a fintech company that provides stablecoin and digital asset payment infrastructure in emerging markets, primarily across Africa, and has expanded globally. Oludimu said that the funding had lifted Yellow Card’s total equity financing above $120 million, enabling it to expand…

Lagos Inaugurates Agege Fresh Food Hub to Reduce Post-Harvest Losses The Lagos State Government has inaugurated the Agege Fresh Food Hub to address post-harvest losses and strengthen food security. The Mid-Level Agro-Produce Hub was commissioned on Wednesday at Pen Cinema, Agege, Lagos. The facility is the third in the state, following the Fresh Food Hub, Mushin, commissioned in December 2023, and the Abijo hub commissioned earlier this year. The hubs are designed to shorten supply chains, reduce unnecessary layers of intermediation, improve produce handling and make food distribution more efficient. In his keynote address, Gov. Babajide Sanwo-Olu said the commissioning…

Wike Closes Secretariat of Dissolved Committee on Sales of FG Houses The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, has directed the immediate closure of the secretariat of the dissolved Ad-hoc Committee on Sales of Federal Government Houses (SFGH) in FCT. Mr Lere Olayinka, Senior Special Assistant to the Minister on Public Communications and Social Media, said this in a statement issued on Wednesday in Abuja. Olayinka said the minister had also approved the creation of a division in the Department of Land Administration to handle matters relating to SFGH in the FCT. He explained that after…

FG Unveils National Agricultural Mechanisation Policy The Federal Government has unveiled the National Agricultural Mechanisation Policy to promote sustainable mechanisation and investment in the agricultural sector. It also unveiled the National Agricultural Mechanisation Investment Strategy to shift the sector from public procurement to sustainable investment. The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, unveiled both documents on Wednesday at a High-Level National Policy Dialogue on Agricultural Mechanisation in Abuja. The dialogue was themed: “Anchoring National Food Sovereignty through Sustainable Agricultural Mechanisation Policy, Innovation and Strategic Investment.” Kyari said food security was fundamental to national sovereignty, economic resilience and…

SEC Urges Investors to Reclaim Unclaimed Funds, Promotes e-dividend Registration The Securities and Exchange Commission (SEC) has urged investors to identify and reclaim their unclaimed funds and other legitimate entitlements in the Nigerian capital market. Hajia Samiya Hassan-Usman, Executive Commissioner, Corporate Services, SEC, made the call on Wednesday at a two-day public enlightenment programme and investor clinic on unclaimed funds in Kano. Hassan-Usman said the programme was aimed at bringing the commission’s investor protection initiatives closer to the public and helping investors understand the procedures for recovering their legitimate entitlements. She urged participants to use the opportunity to ascertain whether…

NCC Urges Protection of Fibre Infrastructure During Road Construction, Decries Over 5,000 Fibre Cuts in H1 2026 The Nigerian Communications Commission (NCC) has called on road construction companies, contractors, engineers and other stakeholders to strengthen coordination and adopt preventive measures to protect fibre-optic cables during road construction, rehabilitation and other civil works across the country. The Executive Vice Chairman and Chief Executive Officer of the NCC, Dr. Aminu Maida, made the call today, August 11, 2026, at a stakeholders’ workshop on the protection of fibre-optic cables held at the National Counter- Terrorism Centre (NCTC), Office of the National Security Adviser…