The Nigerian Meteorological Agency (NiMet) has forecast thunderstorms and moderate rainfall across several parts of Nigeria from Sunday through Tuesday, warning residents and road users to prepare for potentially hazardous weather conditions. The three-day forecast, issued by the agency in Abuja, indicates varying weather patterns across the northern, North-central and southern parts of the country. NiMet also warned that some thunderstorms could be accompanied by strong winds, urging residents, motorists and other road users to exercise caution as the weather changes. On Sunday, the northern region is expected to experience sunny conditions with patches of cloud. However, early morning thunderstorms…
Author: Elvis Eromosele
The Securities and Exchange Commission (SEC) has directed all regulated capital market operators in Nigeria to sever correspondent banking relationships with financial institutions linked to North Korea and restrict transactions involving Iran. The directive, which took immediate effect, is part of efforts to strengthen Nigeria’s anti-money laundering, counter-terrorism financing and counter-proliferation financing controls. The SEC disclosed the directive in a circular issued to capital market regulated entities on August 14, 2026, although the document was dated June 19, 2026. The regulator said the measures were based on updated risk assessments issued by the Financial Action Task Force (FATF) following its…
The National Pension Commission (PenCom) has raised concerns that Nigeria may miss its target of having 30 percent of Personal Pension Plan (PPP) accounts funded by the fourth quarter of 2026, as the vast majority of registered accounts remain inactive. The latest Nigerian Pension Industry Quarterly Report shows that only 18,811 of the 219,316 PPP accounts registered under the scheme have received contributions. That represents a funding rate of just 8.5 per cent, meaning about 91 per cent of registered accounts have yet to receive any contribution. The figures highlight a major gap between pension registration and actual pension savings,…
The Securities and Exchange Commission (SEC) has directed all regulated capital market operators in Nigeria to sever correspondent banking relationships with financial institutions linked to North Korea and restrict transactions involving Iran. The directive, which took immediate effect, is part of efforts to strengthen Nigeria’s anti-money laundering, counter-terrorism financing and counter-proliferation financing controls. The SEC disclosed the directive in a circular issued to capital market regulated entities on August 14, 2026, although the document was dated June 19, 2026. The regulator said the measures were based on updated risk assessments issued by the Financial Action Task Force (FATF) following its…
Governor Ademola Adeleke of the Accord Party has been declared winner of the 2026 Osun State governorship election by the Independent National Electoral Commission (INEC). Adeleke polled 511,067 votes to defeat his closest challenger, the All Progressives Congress (APC) candidate, Bola Oyebamiji, who secured 444,815 votes. The African Democratic Congress (ADC) candidate, Najeem Salaam, finished a distant third with 17,180 votes. Professor Joshua Olalekan Ogunwole, INEC Returning Officer for the election, announced the final result at about 7:49am on Sunday in Osogbo, the state capital. Ogunwole, who is also the Vice-Chancellor of the Federal University Oye-Ekiti (FUOYE), supervised the final collation of results from…
Nestlé Nigeria has marked the fifth anniversary and 10th edition of its Empowering Rural Women Initiative by supporting 50 women retailers in Zaria, Kaduna State, with practical business training and grants in the form of Nestlé products valued at three times their existing stock. The intervention also marked the beginning of a three-month mentorship period designed to help the women apply their training, manage the additional stock effectively and build stronger, more sustainable businesses. Launched in 2021, the Empowering Rural Women Initiative supports women retailers who have demonstrated the determination to grow their businesses but have limited access to training,…
The National Insurance Commission (NAICOM) has confirmed that seven more insurance companies have met the minimum capital requirements under the Nigerian Insurance Industry Reform Act (NIIRA) 2025. The latest approvals bring the number of insurance and reinsurance companies cleared by the regulator to 50, up from the 43 firms previously confirmed as compliant. NAICOM disclosed this in a statement issued on Thursday in Abuja. According to the Commission, seven of the eight companies that had remained under final verification and regulatory review have now been confirmed to have met the new capital thresholds. The newly cleared companies are: emPLE General…
The Chinese government has approved a ¥200 million grant for Nigeria to support development projects agreed upon by both countries. The grant, valued at about ₦40.32 billion based on the Central Bank of Nigeria’s exchange rate, was announced during a meeting between Chinese Ambassador to Nigeria, Yu Dunhai, and Dr. Dunoma Umar Ahmed, the Permanent Secretary of the Ministry of Foreign Affairs, on Thursday. The Chinese Embassy in Nigeria disclosed the development in a statement posted on its X account. Ambassador Yu said the grant would support Nigeria’s development and economic growth as both countries deepen their bilateral relationship. “China…
…Tech Giant to Host the Big Tech and Enterprise Stage for the Second Time Interswitch, one of Africa’s leading integrated payments and digital commerce companies, will return for the third time as a Platinum Sponsor of Moonshot by TechCabal 2026, taking ownership of the Big Tech and Enterprise Stage for the second consecutive year and contributing to critical conversations on the courage, conviction and innovation required to build Africa’s next digital economy. The flagship technology conference, hosted by leading African technology publication TechCabal, will take place from October 28–29, 2026, at the National Theatre, Lagos, under the theme, “Courage &…
CIG Motors Group has donated 10 operational vehicles valued at more than N300 million to the Lagos State Security Trust Fund (LSSTF) to strengthen the mobility and operational capacity of security agencies across the state. The vehicles, comprising four Wuling N111s, three Wuling XC250s and three JMC Vigus pickup trucks, were formally handed over by Chief Diana Chen, CIG Motors Group Chairman, to Dr Ayodele Ogunsan, LSSTF Executive Secretary and CEO, at the company’s headquarters in Victoria Island, Lagos. Ogunsan said the vehicles would support rapid response, logistics, field deployment and emergency operations by security personnel across Lagos. He commended…