Financial Stability Board Chair Andrew Bailey identified frontier AI-driven cyber risk as the most immediate concern for the global financial system.
He warned that advanced AI could significantly increase the speed, scale and economic efficiency of cyberattacks.
Bailey called for safe and responsible development and deployment of frontier AI models.
Financial institutions were urged to strengthen their cyber-response and recovery capabilities.
The FSB also highlighted vulnerabilities linked to sovereign debt, private credit, stretched asset valuations and increased market leverage.
Bailey issued the warning ahead of meetings of G20 finance ministers and central bank governors.
Main Story
Financial Stability Board Chair Andrew Bailey has warned that the impact of frontier artificial intelligence on cyber risk represents the most immediate concern for global financial stability, Bailey, who is also Governor of the Bank of England, issued the warning in a letter to G20 finance ministers and central bank governors ahead of their meetings on August 31 and September 1, 2026.
According to the Financial Stability Board, increasingly advanced AI models are developing greater autonomy, problem-solving capabilities and threat capabilities. These developments could materially change the speed, scale and economics of cyberattacks against financial institutions and markets, The FSB said the potential consequences could extend beyond individual financial institutions, with successful large-scale cyberattacks capable of undermining confidence across the financial system.
The Issues
One of the central concerns is that AI could make sophisticated cyberattacks faster, cheaper and easier to execute at scale, The FSB is also concerned about the ability of financial institutions and regulators to keep pace with rapidly evolving AI capabilities. Bailey urged authorities to support safe and responsible model release and deployment while ensuring that financial firms maintain strong response and recovery capabilities.
The financial system also faces other vulnerabilities. The FSB highlighted fragilities in sovereign debt markets, risks in private credit, stretched asset valuations and increased leverage in equity markets, The interaction between high valuations, market concentration, leverage and optimism surrounding AI could potentially amplify the impact of a future market correction.
What’s Being Said
Bailey said the most immediate financial-system concern arising from frontier AI is its potential impact on cyber risk, The FSB chair stressed that authorities need to take appropriate measures to ensure that increasingly powerful AI systems are released and deployed safely, For financial institutions, the FSB is emphasising resilience, including the ability to respond to cyber incidents and recover from disruptions. It also highlighted the importance of resilience among critical third-party technology and common-service providers.
What’s Next
The FSB is expected to continue examining the implications of frontier AI within its financial-stability mandate, Regulators and financial institutions will need to strengthen cybersecurity frameworks, incident-response systems and contingency arrangements as AI capabilities continue to develop, The issue is also expected to feature in discussions among G20 finance ministers and central bank governors during their August 31 and September 1 meetings.
Bottom Line
The FSB’s warning signals that AI-related cyber risk has moved beyond a technology-sector concern and is now being treated as a potential systemic financial-stability threat. As AI becomes more capable, financial institutions and regulators will need stronger safeguards, resilience measures and coordinated international oversight to prevent cyber incidents from triggering wider market disruption.
Nigerian equities ended a punishing 11-session losing run with a 0.81% weekly gain, driven by FTSE Russell’s confirmation that Nigeria will return to Frontier Market status on September 21, 2026
University Press Plc led all gainers with an 18.75% surge to N5.70, while Seplat Energy’s 10% rise carried significant market-capitalisation weight and powered the Oil & Gas index to a 4.54% weekly gain
Market capitalisation rose by 0.84% to close at N155.826 trillion, even as overall trading activity slowed due to the Eid el Maulud public holiday on Tuesday, August 25
Main Story
After 11 consecutive sessions of losses that weighed heavily on investor sentiment across August, Nigerian equities staged a meaningful rebound in the four-day trading week ended Friday, August 28, 2026. The benchmark NGX All-Share Index (ASI) gained 1,947.31 points — or 0.81% — to close at 241,298.47 points, up from 239,351.16 points the previous week.
The catalyst that unlocked the rally was unmistakable. On Thursday, August 27, FTSE Russell issued a market notice confirming Nigeria’s reclassification from “Unclassified” to “Frontier Market” status, effective from the open of trading on Monday, September 21, 2026. The announcement triggered renewed buying interest in oil & gas, banking and value stocks, reversing weeks of selling pressure in a session. By the close of trading on Friday, market capitalisation had appreciated 0.84% to N155.826 trillion. The year-to-date return held firm at +55.06%, while the quarter-to-date return stood at +5.18%.
Despite the relief rally, the market ended August still in negative territory for the month — down 1.62%. And the week’s trading was shortened by the Eid el Maulud public holiday on Tuesday, August 25, which compressed activity into just four sessions.
University Press Plc emerged as the week’s standout performer, surging 18.75% to close at N5.70 from N4.80. At the opposite end of the board, International Energy Insurance Plc led all losers, tumbling 26.61% following a major share listing that dramatically expanded its share capital.
The full picture of the week’s ten best-performing stocks — and the context behind each move — is set out below.
The Issues
Why this week matters beyond the numbers
The rebound was not merely a technical correction after a prolonged losing run. Three structural developments shaped the week’s trading and carry implications well beyond the August close.
First, the FTSE Russell reclassification ends a nearly three-year exclusion that began in September 2023, when Nigeria was removed from the Frontier Market index over persistent difficulties with foreign exchange execution and capital repatriation. The return follows sustained improvements in Nigeria’s market infrastructure — particularly the shift to a T+1 settlement cycle from June 1, 2026, which made Nigeria the first African market to settle securities one business day after the trade date. However, the T+1 transition initially raised fresh concerns from international institutional investors about pre-funding requirements. An extended round of engagements between NGX Group, the Securities and Exchange Commission (SEC), and global custodians ultimately satisfied FTSE Russell that no material operational or funding issues had emerged.
Second, S&P Dow Jones Indices has separately placed Nigeria on its Watch List for potential reclassification to Frontier Market status as part of its 2027 Country Classification Annual Review — signalling that international recognition of the market’s progress is not limited to FTSE Russell alone.
Third, the week’s breadth data revealed an improving but still uneven market. Only 24 equities appreciated versus 55 that declined, even as the headline index posted a positive weekly return. The rally was concentrated in large-cap names — particularly banking and energy — rather than broad-based participation across all sectors. Investors should note that a positive index return can mask significant stock-specific losses, as International Energy Insurance’s 26.61% collapse demonstrates.
The 10 Best-Performing Stocks: Week Ended August 28, 2026
1. University Press Plc — Up 18.75% to N5.70
University Press delivered the week’s strongest percentage gain, closing at N5.70 from an opening position of N4.80 — an 18.75% advance. For a company whose core business is educational publishing, the move stood out against a market backdrop largely dominated by financial services and energy narratives. The stock’s surge made it the week’s standout regardless of sector, and it held that position on the final trading day of Friday, August 28, when it gained a further 8.57% to close at N5.70. There was no significant corporate action disclosed by the company during the week to explain the sharp move, suggesting it was driven by speculative buying and position-building in a thin trading environment.
2. FirstHoldCo — Up 11.58% to N145.00
First HoldCo Plc, the holding company for First Bank of Nigeria, rose 11.58% to close at N145.00 during the week — making it the second-best performer and one of the most significant contributors by value to the week’s rally given its market capitalisation. FirstHoldCo was among the top three equities by traded volume for the week, with its shares accounting for a significant share of the 793.104 million combined volume posted by the week’s three most active stocks. The advance reinforced the banking sector’s broader recovery, with the NGX Banking Index gaining 2.89% for the week and standing at +67.89% year-to-date — its position as one of the market’s strongest-performing sector indices for the year.
3. Seplat Energy — Up 10.00% to N12,320.60
Seplat Energy’s 10% gain — the maximum single-week move permitted under NGX rules — carried a weight that went far beyond its percentage. As one of the most valuable stocks on the exchange, Seplat’s move added N1,120 per share and was a primary driver of the NGX Oil & Gas Index’s 4.54% weekly advance, which pushed the index to 5,185.35 points and kept it as the strongest-performing sector index year-to-date at +94.19%. The gain was consistent with strong underlying fundamentals: Seplat’s first-half 2026 results showed a 30% revenue increase and strong cash flow, with production recovering after Q1 disruptions. The stock has gained approximately 95% year-to-date, and Citi had previously raised its price target to 665 GBp with a Buy rating on the London-listed shares.
4. Red Star Express — Up 9.86% to N16.15
Red Star Express, the logistics and courier services company, advanced 9.86% to close at N16.15. The stock’s rise placed it fourth on the week’s gainers list. Red Star operates in the Services sector, which itself ranked second in the week’s trading activity with 148.226 million shares worth N7.252 billion traded in 10,638 deals. While no specific corporate action was disclosed for the company during the week, the stock benefited from increased investor interest in value plays — a pattern that emerged as the broader FTSE-driven sentiment improvement encouraged rotation into less-covered names.
5. Transcorp Hotels — Up 9.76% to N265.50
Transcorp Hotels continued to attract investor attention, posting a 9.76% gain to close at N265.50 from N241.90. The hospitality group’s stock has been one of the exchange’s more watched names in 2026, and Friday’s session alone saw it rise sharply, confirming that the week’s buying interest was sustained rather than one-day speculation. Transcorp Hotels sits within the consumer-adjacent space that investors have increasingly viewed as a domestic growth play, riding on improvements in corporate travel and hospitality demand.
6. Access Holdings — Up 9.26% to N29.50
Access Holdings, the parent company of Access Bank, gained 9.26% to close at N29.50 — reinforcing the banking sector’s status as one of the week’s primary recovery engines. The stock’s advance, alongside FirstHoldCo’s, underscored a theme that has dominated the NGX in 2026: banking sector earnings strength. Nigerian banks have been reporting record profits driven by elevated interest rates and foreign exchange gains, with sector-wide performance supporting the NGX Banking Index’s near-68% year-to-date advance. Access Holdings’ gain was also consistent with the broader pattern of buying in large, liquid names that index-tracking funds would need to hold as Nigeria’s Frontier Market reclassification nears.
7. Cornerstone Insurance — Up 9.18% to N5.35
Cornerstone Insurance’s 9.18% advance to N5.35 was notable precisely because it came in the same week that the insurance sector as a whole declined. The NGX Insurance Index fell 0.63% for the week and remains the market’s worst-performing major sector index year-to-date at -9.23%. Cornerstone’s rise against that sector backdrop highlights the sharp divergence between individual insurance stocks. While Cornerstone gained, International Energy Insurance fell 26.61% and Veritas Kapital Assurance dropped 10.77% — demonstrating that sector-level data can obscure dramatically different outcomes for individual names. The insurance sector’s ongoing weakness is partly structural, reflecting the difficult underwriting environment and the overhang from recent share capital expansions.
8. UPDC — Up 5.97% to N3.55
UPDC Plc, the real estate arm of UAC of Nigeria, gained 5.97% to close at N3.55. The stock’s inclusion among the week’s top performers reflects continued interest in real estate and property plays on the exchange, a sector that has attracted renewed attention as inflationary pressures have moderated somewhat in 2026. Nigeria’s headline inflation declined to 15.43% at end-July 2026, down sharply from 24.94% a year earlier — a macro backdrop that tends to support property valuations and encourage longer-duration asset holdings.
9. Omatek Ventures — Up 5.63% to N1.50
Omatek Ventures, the Nigerian computer hardware and technology company, rose 5.63% to close at N1.50. Omatek’s move placed it in the top ten for the week and was reflected in Friday’s session data, which showed the stock gaining 9.49% on the final trading day alone. While Omatek is a smaller, lower-priced stock, its price-percentage move contributed to the week’s broader positive breadth picture. The ICT sector ranked third for the week in overall trading activity, with 117.982 million shares worth N8.635 billion changing hands in 21,639 deals.
10. Abbey Mortgage Bank — Up 5.59% to N8.50
Abbey Mortgage Bank rounded out the week’s top ten performers with a 5.59% gain to close at N8.50. The mortgage lender’s advance was consistent with broader financial services buying — the Financial Services sector dominated the week’s activity, accounting for 78.87% of total volume and 58.08% of total value. Abbey’s gain was modest by comparison with the week’s headline performers but reflected a broad sweep of buying activity across financial names of varying sizes as the FTSE reclassification news improved sentiment.
What’s Being Said
“This is an important moment for Nigeria’s capital market. But the real significance of returning to Frontier Market status is the opportunity it creates for the next phase of our market’s development. We have to turn greater international visibility into broader participation, deeper liquidity and more capital for Nigerian businesses,” said Temi Popoola, Group Managing Director/Chief Executive Officer, NGX Group.
“We see this as a milestone, not a destination. Our ambition remains to build a capital market that is deep, liquid and competitive enough to earn Emerging Market status in the near term,” said Taiwo Oyedele, Minister of Finance and Coordinating Minister of the Economy, in a statement issued on Friday, August 28, 2026.
FTSE Russell confirmed, in the same market notice, that “no material settlement, operational or funding issues had been observed since the implementation of the T+1 settlement cycle” — a finding that cleared the final hurdle for the reclassification to proceed on schedule.
What’s Next
September 2, 2026: FTSE will begin publishing the annual indicative review files for the FTSE Frontier Index Series for September 2026, which will formally reflect Nigeria’s reclassification and signal to index-tracking funds how much Nigerian exposure they must build.
September 21, 2026: Nigeria’s reclassification from “Unclassified” to “Frontier Market” status takes effect at the open of trading — the most consequential single date for Nigerian equities in the current market cycle, as index-tracking funds benchmarked to the FTSE Frontier Index begin to adjust their portfolios.
October 2026: The Nigerian equities market will face a critical test of whether the FTSE-driven sentiment improvement translates into sustained foreign capital inflows or remains a domestic-investor-led rally.
Bottom Line
The Bottom Line: Nigeria’s return to FTSE Frontier Market status has given the NGX its most significant sentiment catalyst of 2026, snapping an 11-session losing run and concentrating buying into the large-cap banking and energy names most likely to attract index-tracking capital. But the week’s data — 55 decliners versus 24 gainers, a Consumer Goods index still near flat for the year, and an insurance sector down nearly 10% — is a reminder that reclassification is a floor, not a ceiling. The real test of this moment is whether September 21 becomes the starting point for structural foreign participation, or merely a brief reprieve in a market that still needs deeper liquidity and broader institutional engagement to sustain the gains it has made.
Defence Minister Christopher Musa says the Federal Government is strengthening security to make Nigeria safer for citizens at home and abroad.
He said the government was expanding the capacity of the Armed Forces and tightening border management.
Government officials also addressed concerns raised by Nigerians living in Angola.
Main story
The Federal Government is stepping up measures to strengthen Nigeria’s security and make it safer for citizens living abroad who wish to return home, the Minister of Defence, Gen. Christopher Musa, has said.
Musa gave the assurance during an engagement with Nigerians living in Angola on the sidelines of the 21st Extraordinary Session of the Assembly of Heads of State and Government of the African Union in Luanda.
The meeting formed part of an interaction between members of the Nigerian community and officials who accompanied Vice President Kashim Shettima to the AU summit.
Musa said the administration of President Bola Tinubu remained focused on addressing security threats across the country, including those arising from instability in the Sahel region.
He said the government was increasing the strength and operational capacity of the Armed Forces and other security agencies as part of the broader response.
According to him, interventions were being made across different areas of the national security architecture, while measures were also being introduced to strengthen the management of Nigeria’s borders.
Musa said instability in neighbouring countries continued to create security pressures for Nigeria, making effective border controls necessary to prevent such threats from spreading into the country.
He also said the government was incorporating reliable data into its security and development planning to improve the country’s ability to respond to emerging challenges.
The minister assured the diaspora community that efforts to restore lasting peace and stability remained ongoing.
The engagement also provided an opportunity for Nigerians in Angola to raise concerns directly with government representatives and receive responses from the officials present.
The Minister of Interior, Dr Olubunmi Tunji-Ojo, spoke on measures being taken to strengthen identity management and protect citizens’ data.
He said improved cooperation among government agencies was already producing results in the management of identity and related security matters.
Also at the meeting, the Chairman and Chief Executive Officer of the Nigerians in Diaspora Commission (NiDCOM), Abike Dabiri-Erewa, reaffirmed the commission’s commitment to supporting Nigerians living outside the country.
Dabiri-Erewa said NiDCOM would continue to engage the diaspora community and promote opportunities through which Nigerians abroad could contribute to national development.
Musa also commended the Nigerian community in Angola for maintaining a cordial relationship with the country’s diplomatic mission.
The issues
For Nigerians living abroad, security remains an important factor in maintaining connections with and returning to Nigeria.
The Federal Government’s response combines increased military capacity, stronger border management, improved use of data and greater coordination among security agencies.
The engagement in Angola also allowed government officials to hear diaspora concerns directly rather than addressing them solely through diplomatic channels.
What’s being said
“Every sector is receiving targeted interventions to enhance our national security framework.” — Gen. Christopher Musa, Minister of Defence
“Some of our ongoing challenges stem from regional instability in the Sahel, which trickles across our borders.” — Gen. Christopher Musa
“However, comprehensive border management measures are actively being implemented to curb these incursions.” — Gen. Christopher Musa
What’s next
The Federal Government says it will continue strengthening the Armed Forces and other security agencies, improving border management and using data more effectively in national security planning.
NiDCOM will also continue engaging Nigerians in the diaspora on their welfare and participation in national development.
Bottom line
The Federal Government is seeking to reassure Nigerians abroad that stronger security measures and improved coordination are being pursued to create a safer environment for those returning to Nigeria and for citizens living in the country.
Canada has shut two major immigration programmes and introduced new fees, while the US has paused immigrant visa processing for Nigerians, imposed a visa bond of up to $15,000 and proposed a $103,265 H-1B employer fee
Japan has enacted its first visa fee revision since 1978, raising single-entry visa costs by 400% and announcing a 20-fold increase in permanent residency application fees effective October 2026
Ireland and Quebec have opened new pathways for skilled workers and foreign graduates, offering some relief against a broader global trend of tighter immigration controls
Main Story
From the United States to Canada, Europe, Japan, Australia and New Zealand, 2026 has brought a wave of immigration policy changes affecting Africans seeking jobs, permanent residence, study opportunities and family migration abroad.
Some countries have created new routes for skilled workers to address labour shortages, while others have increased visa fees, tightened eligibility requirements or introduced tougher conditions for migrants. The cumulative effect has been a more expensive, more competitive and more uncertain landscape for Nigerians and other Africans considering relocation.
Nigeria has become synonymous with what is now widely known as the “Japa” syndrome — the growing desire among citizens of Africa’s most populous nation to leave for Europe, North America or other destinations in search of better opportunities and improved quality of life. Research by Nairametrics shows that recent changes have made it increasingly difficult for Nigerians to migrate abroad. The UK remained the most popular Japa destination in raw volume as recently as 2024, with approximately 52,000 Nigerians migrating there, primarily on work and study visas. The US, once the most aspirational destination for Nigerian professionals in medicine, technology and finance, has seen that path significantly restricted.
These are the 18 biggest immigration policy changes announced or implemented between January 1 and August 25, 2026, and what they mean for Nigerians and other Africans planning to move abroad.
1. Canada Closes Major Immigration Pathways
Canada began 2026 with a significant reduction in some immigration options.
On January 7, Canada’s Start-up Visa Programme officially closed to new applications from January 1, except for applicants who had already secured a valid commitment from a designated organisation in 2025. The country’s Home Care Worker Immigration Pilots also remained closed, with the pause extended until 2030.
The changes marked a broader shift by Canada towards more targeted immigration rather than expanding temporary and business migration programmes indiscriminately.
2. US Pauses Immigrant Visa Processing for Nigerians
On January 14, it was confirmed that the United States would pause immigrant visa processing for nationals of about 75 countries, including Nigeria, beginning January 21.
The development was particularly significant for Nigerians seeking permanent migration to the US because it affected immigrant visa processing rather than ordinary short-term travel visas. Nigeria falls under what immigration lawyers have described as a partial suspension category, meaning that entry as an immigrant — for those seeking green cards and permanent residency — has been suspended. The suspension additionally covers certain non-immigrant visa categories, including B-1/B-2 visitor visas and F, M and J student and exchange visitor visas.
Nigeria’s rejection rate for US tourist visa applications had already climbed to 57% in fiscal year 2025, up from 46.51% in fiscal year 2024, according to the US State Department.
The Federal Government of Nigeria’s Ministry of Foreign Affairs had urged the United States to reconsider the restrictions, stating in an official communiqué that the country called on the US government to reverse the decision “in the spirit of partnership, cooperation and shared global responsibilities.”
3. Nigerians Face a US Visa Bond of Up to $15,000
Another major US development affecting Nigerians came into effect at the beginning of the year. Certain Nigerian applicants for B1/B2 business and tourism visas became subject to a visa bond requirement of up to $15,000. By August 3, 2026, the visa bond programme covering Nigeria had been made permanent at up to $20,000.
The measure added a potentially significant financial barrier for Nigerians seeking temporary entry to the US. The policy came amid a wider US crackdown on visa overstays and immigration violations.
4. Canada Creates Five Priority Talent Categories
Canada also introduced a more targeted approach to skilled immigration. On February 19, Canada announced five priority talent categories under its revamped 2026 Express Entry system.
The objective was to attract workers with skills in areas facing labour shortages rather than relying solely on general immigration scores. Healthcare and other specialised professions were among the areas receiving greater attention.
5. UK Increases Visa Fees
The UK announced higher visa, Electronic Travel Authorisation and citizenship fees on March 20, with the new charges taking effect from April 8.
For workers, the Skilled Worker visa fee for applications of up to three years increased from £769 to £819, while applications exceeding three years rose from £1,519 to £1,618.
The increase adds to the cost of migration for Nigerians and other Africans who rely heavily on the UK employment and study routes. The UK remains the most popular destination for Nigerian migrants in raw volume, driven primarily by demand for healthcare workers and international students.
6. Australia Raises Salary Requirement for Sponsored Workers
Australia increased the minimum salary that employers must offer foreign workers under eligible employer-sponsored visa streams. The new threshold was set at AUD 76,515 for the 2026 migration cycle.
The higher threshold makes employer-sponsored migration more selective but continues to favour professionals whose skills are in demand in Australia. Australia has maintained substantial allocations for skilled migration, continuing to position itself as an important destination for African professionals.
7. Canada Increases Permanent Residence Fees
Canada announced higher permanent-residence fees on March 31, with the changes taking effect from April 30.
The Right of Permanent Residence Fee increased from CAD 575 to CAD 600 for principal applicants and accompanying spouses or common-law partners.
While relatively small compared with other immigration changes, the increase adds to the overall cost of Canada’s migration process, particularly against the backdrop of other restrictive measures introduced during the year.
8. Alberta Introduces New Fee for Foreign Workers
Alberta introduced a CAD 135 fee for foreign workers submitting a Worker Expression of Interest profile under the Alberta Advantage Immigration Program.
The fee became payable at the first stage of the process, where applicants enter the provincial selection pool. Previously, submitting the expression of interest was free. Successful applicants would still have to pay the existing CAD 1,500 provincial nomination application fee if invited to apply.
9. Ireland Expands Work Permits
Ireland made one of the more positive changes for foreign workers on June 1, introducing 32 changes to its employment permit system.
The changes expanded the Critical Skills Employment Permit list, removed some occupations from the Ineligible Occupations List and introduced additional quotas for certain jobs. The changes cover areas including healthcare, construction, technology, engineering, agriculture and specialist services.
For Nigerians, Ireland remains particularly important because of the country’s established record of recruiting international professionals, especially in healthcare, where Nigerian-trained doctors and nurses have formed a significant part of the Irish health system’s international workforce.
10. UK Considers Lower Salary Thresholds
The UK could potentially make some skilled-worker routes more accessible after its Migration Advisory Committee proposed changes to salary requirements on June 10.
The committee recommended changes that could lower salary requirements for some sponsored occupations, including using the 25th percentile of earnings as the basis for some occupation-specific thresholds and a proposed £33,400 salary threshold for new entrants.
However, these were recommendations and not an immediate change to the UK’s immigration rules. The proposals are subject to government review and formal consultation before taking effect.
11. Quebec Reopens Permanent Residence Route
Quebec announced the reopening of its Quebec Experience Programme (PEQ) for foreign workers and international graduates.
Applications were opened from July 2, 2026, to July 2, 2028, with the first intake running until October 31. The reopening provides temporary residents whose immigration plans were disrupted by the previous closure with another route towards permanent residence in Canada’s French-speaking province.
12. Japan Raises Visa Fees by Up to 400% — Then Announces a 20-Fold Residency Fee Hike
Japan announced on June 21 that visa fees would increase from July 1, marking the country’s first major revision of visa charges since 1978.
The single-entry visa fee increased from ¥3,000 to ¥15,000, while multiple-entry visas rose from ¥6,000 to ¥30,000. Japan’s Foreign Minister Toshimitsu Motegi said the government reviewed the charges because the existing system “no longer reflected the true administrative cost of issuing visas and managing immigration procedures” after nearly five decades.
African nations are not among the countries with visa exemptions for Japan, meaning Nigerian and other African travellers will bear the full impact of the new fees.
Then on August 25, Japan announced a second wave of residency fee increases effective October 2026. The permanent residency application fee will rise from ¥10,000 to ¥200,000 — a 20-fold increase. Visa renewal fees will also change from a flat ¥6,000 to a status-based structure reaching as high as ¥75,000 for workers renewing a five-year visa.
Analysts at GaijinPot, a Japan-based platform for foreign workers, noted that “for job seekers — especially people on one-year contracts — it’s something you’ll start factoring into your salary” and that companies competing for foreign talent may begin offering visa renewal reimbursement as a benefit to offset the higher costs.
Japan’s foreign population reached a record 4.13 million at the end of 2025. The government says the additional revenue will help fund staffing, technology and infrastructure for immigration services, as well as Japanese-language education programmes for foreign residents.
13. New Zealand Tightens Some Open Work Visa Conditions
New Zealand introduced new employment conditions for certain open-work-visa holders. The changes, announced in February and taking effect on April 20, restrict holders of Migrant Exploitation Protection Work Visas, asylum seekers and working-holiday visas to specified forms of employment. Affected migrants must work under formal employment arrangements recognised by immigration authorities.
At the same time, New Zealand has expanded some graduate and post-study work opportunities, creating a mixed picture for African migrants.
14. Slovakia Gives Foreign Workers More Time to Find Jobs
Slovakia introduced new immigration rules on July 15 that extended national visas for certain foreign workers from 90 days to 120 days. Workers who lose their jobs were also given longer periods to secure new employment — three months for those with less than two years of residence, and up to six months for those with more than two years.
However, Slovakia also tightened documentation requirements, giving applicants less time to provide missing documents.
15. UK Moves Nigerian Travellers to Digital Immigration Records
The UK continued its transition away from physical immigration documents. By February 2026, Nigerian travellers and other new visa applicants had moved to a fully digital eVisa system, replacing physical visa stickers with electronic immigration records.
The change does not create a new visa route but significantly changes how Nigerians prove their immigration status when travelling and living in the UK. Nigerian residents in Britain are advised to ensure their digital immigration accounts are updated and accessible before travelling.
16. Trump Ends Birth Tourism
The United States introduced another major immigration development on August 7, when President Donald Trump signed an executive order specifically targeting what his administration describes as “birth tourism.”
The order seeks to prevent pregnant foreign nationals from using temporary US visas primarily to travel to the country to give birth, so their children can obtain US citizenship.
The development is particularly relevant to Nigerians, as Nigeria has historically been among the countries whose nationals travel to the US for childbirth. The move followed Trump’s broader January 2026 attempt to restrict birthright citizenship, which was challenged in court.
17. US Tightens Green Card Public-Charge Rules
On August 19, it was reported that the US was preparing tighter public-charge rules for Green Card applicants from September, making financial circumstances more important in assessing some immigration applications.
Additionally, since May 2026, foreigners temporarily residing in the US — including Nigerians — have generally been expected to return to their home countries to apply for Green Cards rather than adjusting their status from within the United States, subject to exceptions.
18. Trump Proposes $103,265 H-1B Fee
One of the biggest immigration stories of 2026 arrived on August 24, when the Trump administration proposed a $103,265 fee for new H-1B visas for highly skilled foreign workers. The proposal was published by the Department of Homeland Security in the Federal Register and opened a 30-day public comment period.
The Trump administration said the fee would go towards “recovering the costs of running the immigration system” and would encourage companies to hire American workers and pay them more. DHS said the government spends approximately $8.8 billion a year on immigration-related costs and that dividing that by the 85,000 H-1B visas available each year produces roughly the proposed fee.
The proposal follows Trump’s earlier $100,000 H-1B charge introduced in September 2025, which was struck down by a federal judge. Immigration attorney Elizabeth Ricci told Fortune that DHS’s new approach — using its fee-setting authority through formal notice-and-comment rulemaking — gives the policy “a better chance of surviving the litigation everyone expects.”
However, Adam Klein, a former Department of Homeland Security official and co-founder of immigration analytics firm Globali.ai, criticised the basis of the proposal, telling Newsweek: “We are talking about making employers seeking congressionally authorised H-1B workers responsible for financing a much broader portion of the federal immigration system, including functions that have little to do with adjudicating their petitions.”
Immigration attorney David Bier raised a further legal objection, noting that the fee could be challenged on the grounds that “immigration fees can only be imposed to recover the costs of adjudication and naturalisation services” and that “almost no one will risk more than $100,000 with no guarantee of approval.”
DHS itself estimated in its own documentation that if finalised, the fee would paralyse approximately 76% of small businesses that currently use the H-1B programme. Employers, trade groups, universities and technology associations are expected to submit comments opposing the proposal, and legal challenges are widely anticipated.
For African professionals — particularly those in technology, engineering, research and specialised fields — who rely on the H-1B as a pathway to US employment, the proposed fee could make employer sponsorship considerably more expensive, and for smaller employers, prohibitively so.
The Issues
The 18 changes documented here are not isolated policy decisions. They reflect three structural pressures reshaping global immigration simultaneously.
The politics of domestic labour markets. In the United States, the United Kingdom, Canada and Australia, public and political pressure to prioritise local workers has intensified sharply since 2024. This has translated into higher fees designed to shift the cost of immigration administration onto employers and migrants, tighter qualification thresholds, and the reduction or closure of pathways seen as too broadly accessible.
The cost spiral for African migrants. Nigerian and other African professionals now face a compounding series of financial barriers. Where previously the primary cost of migration was the visa application fee and travel, candidates must now factor in visa bonds of up to $20,000 in the US, salary thresholds of AUD 76,515 in Australia, proof-of-funds requirements in Canada, and H-1B sponsorship fees that could exceed $100,000 if the US proposal is finalised. These costs accumulate across a single migration journey.
The divergence between developed-nation immigration needs and policy. A contradictory pattern is visible across all major destination countries: each continues to face genuine labour shortages in healthcare, technology, construction and elder care — the very sectors that African professionals disproportionately fill — while simultaneously increasing the cost and complexity of accessing those pathways. Ireland’s expansion of its Critical Skills Employment Permit and Canada’s five-category Express Entry revamp are responses to real shortages, not generosity. The tension between economic need and political appetite for restriction is unlikely to resolve quickly.
What’s Being Said
Nigeria’s Ministry of Foreign Affairs formally urged the United States to reconsider its visa restrictions, calling on Washington to reverse the decision “in the spirit of partnership, cooperation and shared global responsibilities,” according to a statement signed by ministry spokesperson Imomotimi Ebienfa.
Former Nigerian senator Shehu Sani reacted to the US travel ban announcement in December 2025 by urging Nigerians to redirect their energy domestically. In a post on X, Sani described the US restrictions as “a clear signal that migrants from developing countries are no longer welcome” and called on Nigerians to “stay back and build your country.”
On the H-1B fee proposal, Newsweek reported that immigration and technology industry groups are preparing formal comment submissions in opposition. Adam Klein, former DHS official and co-founder of Globali.ai, warned that the proposed fee is structured in a way that could be legally challenged, arguing it goes well beyond recovering the administrative costs of H-1B adjudication.
Fortune’s analysis of DHS’s own modelling found that the $103,265 fee, if enacted, would also affect universities by discouraging international students. As one economist quoted in the report observed: “If students no longer believe an H-1B is realistically available at the end of this path, doing a US degree becomes much less appealing — and that has big implications for firms too, because that’s been a pipeline they’ve been very reliant on.”
Travel industry stakeholders in Nigeria reported that US-Nigerian air passenger volumes fell significantly in early 2026 following the January visa restrictions, with one industry report describing the situation as the beginning of a sustained decline in travel between the two countries.
What’s Next
The US Department of Homeland Security’s proposed $103,265 H-1B fee is open for public comment for 30 days from August 24. If finalised without legal challenge, employers will face six-figure costs per skilled foreign hire — though legal challenges from trade groups and technology companies are widely expected.
Japan’s new residency fee structure takes effect October 1, 2026. Foreign nationals currently residing in Japan who are eligible for permanent residency have until September 30 to submit applications at the current ¥10,000 fee before the 20-fold increase to ¥200,000 kicks in.
Quebec’s reopened PEQ pathway accepts applications until October 31 for the first intake, offering an accessible route for temporary residents and international graduates who qualify under the programme’s French-language and work-experience criteria.
The UK Migration Advisory Committee’s recommendation to lower salary thresholds for some sponsored occupations remains under government review. A formal government response is expected in the fourth quarter of 2026, which could expand or narrow skilled-worker eligibility depending on the political direction taken.
Bottom Line
The Bottom Line: The 2026 immigration landscape has shifted decisively against Nigerian and African migrants across the most sought-after destinations. What were once parallel challenges — US visa restrictions, rising UK fees, Canadian pathway closures — have converged into a simultaneous tightening across nearly every major corridor at once, placing Nigerians in the most constrained outbound migration environment in a generation. The countries imposing these barriers continue to face the labour shortages that African professionals have historically helped fill; the contradiction between economic need and restrictive policy is now a structural feature of global immigration, not a temporary adjustment.
A 2026 Kaspersky survey of 7,200 users across 18 countries reveals smartphone users are significantly more diligent about digital hygiene than PC users, with 77% updating mobile operating systems regularly versus just 53% of PC users
Security-critical habits ÔÇö changing passwords, backing up data, and reviewing app permissions ÔÇö remain dangerously low across both device types, with fewer than one-third of all users practising them
Kaspersky experts warn that neglecting PC hygiene poses serious financial and personal data risks, and recommend five concrete steps users should take immediately
MAIN STORY
A new global survey by cybersecurity firm Kaspersky has confirmed what many security experts have long suspected: people treat their smartphones far better than their computers ÔÇö and it is leaving their digital lives exposed on multiple fronts.
The research, conducted by Kaspersky’s market research centre in 2026 and spanning 7,200 respondents across 18 countries, found that smartphone users are consistently more proactive about keeping their devices clean, updated, and organised than PC users. The gap, in some categories, is startling. While 77% of smartphone users regularly update their operating systems and apps, only 53% of PC users do the same. When it comes to deleting unused applications, 73% of mobile users regularly prune their devices compared to just 47% of PC users.
The findings arrive at a moment when cybercriminals are targeting both platforms with increasing sophistication. Kaspersky’s own Security Bulletin for 2025 found that 48% of Windows users and 29% of macOS users encountered at least one cyberthreat during that reporting period ÔÇö underscoring that the PC, despite being perceived as better-managed, remains a prime attack surface.
What is perhaps most alarming is not the gap between mobile and PC care, but what both groups are neglecting entirely. Only 33% of mobile users and 31% of PC users regularly change their passwords. Fewer than 30% on either device back up important data, and only 20% of mobile users ÔÇö and a mere 16% of PC users ÔÇö review or update their app permissions and privacy settings.
“Every device we use, whether a phone or a PC, holds a growing volume of personal and financial information. Photos, messages, bank details, work documents, passwords ÔÇö all of it is valuable, and all of it is a target for cybercriminals,” said Marina Titova, Vice President for Consumer Business at Kaspersky. “Neglecting basic digital hygiene, like removing unused accounts, backing up data or managing privacy settings, leaves that information potentially exposed.”
THE ISSUES
Why PCs Are Being Left Behind
The data points to a structural explanation rooted in how people actually use their devices. Smartphones have become the primary internet access point for the majority of users globally ÔÇö Kaspersky’s survey found that 58% of respondents now use their mobile phones as their main gateway to the internet. That constant, daily interaction breeds familiarity and, with it, more frequent housekeeping.
PCs, by contrast, are used primarily for heavy-duty tasks ÔÇö document management, work applications, and file storage. For 58% of users aged 61 and above, the PC remains their primary internet device. Yet that critical role does not translate into better maintenance habits. The practical consequences of this neglect are significant: outdated applications on PCs can carry unpatched security vulnerabilities, while accumulated unused programmes often retain stored financial data and personal credentials that cybercriminals can exploit long after the user has forgotten about them.
The Security Habit Gap That Cuts Across Both Devices
Beyond the mobile-versus-PC divide lies an even more pressing concern: security-critical habits are poorly adopted across all devices. Changing passwords regularly, backing up data, and managing privacy settings ÔÇö the very practices cybersecurity experts consistently identify as the most effective protections ÔÇö remain minority behaviours. This represents a systemic gap in digital literacy that neither platform-specific behaviour nor device preference can explain away.
WHAT’S BEING SAID
Marina Titova, Kaspersky’s Vice President for Consumer Business, placed the findings in the context of the escalating threat environment. “Kaspersky solutions are designed to help users take control of their digital footprint, combining automated protection with tools that make regular security maintenance easier and more effective,” she said.
The broader industry has echoed similar warnings. Bitdefender’s 2024 Consumer Cybersecurity Assessment Report, based on a survey of over 7,000 consumers, found that nearly half of mobile users forgo mobile security protection altogether ÔÇö despite the fact that more than three-quarters of respondents conduct sensitive financial transactions on their smartphones. The report noted that 23% of users believe their mobile operating system is immune to attack, and 21% are not even aware that mobile security software exists.
Security analysts have long observed this disconnect between risk and user behaviour. As Tanguy de Coatpont, then head of Kaspersky’s French operations, noted in an earlier period of mobile growth, “With smartphones we are going through what we went through 15 years ago with personal computers ÔÇö there are more and more security problems because with their processing power they are really like little computers, permanently connected.” That warning has aged into a documented reality.
Research from TechRadar also found that nearly half ÔÇö 49% ÔÇö of users fear having their private and sensitive information exposed through data breaches, yet still do not take consistent steps to protect themselves. This gap between fear and action is precisely what Kaspersky’s 2026 data continues to document.
HOW TO CLEAN UP YOUR DEVICES ÔÇö KASPERSKY’S 5-STEP GUIDE
Kaspersky’s cybersecurity experts have outlined a practical framework for building consistent digital hygiene habits that protect both mobile and PC users. Here is what they recommend:
1. Schedule a Monthly or Quarterly Device Review
The single biggest reason people neglect their digital hygiene is not indifference ÔÇö it is forgetfulness. Kaspersky recommends setting up a recurring calendar reminder, monthly or quarterly, dedicated specifically to reviewing your devices and accounts. The discipline of having a fixed date transforms cybersecurity from a reactive scramble after a breach into a routine, low-effort maintenance habit. Think of it the same way you would a dental appointment: not glamorous, but essential, and far cheaper than the alternative.
2. Delete Old Accounts and Outdated Payment Methods
Dormant accounts are a cybersecurity liability hiding in plain sight. Old email addresses, long-forgotten e-commerce registrations, and expired payment methods linked to accounts you no longer use all represent access points that cybercriminals can exploit ÔÇö particularly through credential stuffing attacks that use leaked passwords from one platform to break into others. Kaspersky recommends regularly reviewing and deleting unused accounts and saved payment methods, and storing all remaining credentials in a dedicated password manager to maintain a clear record of everywhere you are registered.
3. Automate Your Backups ÔÇö On Both Devices
Only 29% of smartphone users and 28% of PC users back up their data regularly, according to Kaspersky’s survey. This is a critical vulnerability. A ransomware attack, a hardware failure, or even a misplaced phone can result in permanent loss of irreplaceable files, photos, and documents. Kaspersky recommends configuring automatic backups wherever possible ÔÇö for PC users, solutions like Kaspersky Premium allow backups to removable drives or encrypted cloud storage on a scheduled basis, removing the human memory requirement entirely.
4. Install Comprehensive Security Software
Antivirus and security software remains foundational, yet adoption is far from universal. Kaspersky’s own data from its 2025 Security Bulletin found that nearly half of Windows users and nearly a third of macOS users encountered active cyberthreats during the year ÔÇö meaning that unprotected devices face real, documented exposure, not theoretical risk. Kaspersky recommends installing a comprehensive security solution that covers both malware protection and privacy tools, including features such as a secret vault for sensitive documents like passport scans, IDs, and banking records.
5. Stay Informed ÔÇö Knowledge Is a Security Tool
The final recommendation addresses the root cause of the hygiene gap: awareness. Users who understand how threats evolve are significantly better positioned to protect themselves. Kaspersky directs users to resources such as the Kaspersky Daily Blog for ongoing cybersecurity news, threat advisories, and practical guidance. In a landscape where, as cybersecurity analysts noted ahead of 2026, threats increasingly rely on AI-driven personalisation and behavioural targeting, staying informed is no longer optional ÔÇö it is a frontline defence.
WHAT’S NEXT
Kaspersky’s full 2026 Consumer Digital Hygiene Report, including country-level breakdowns for all 18 surveyed nations, is expected to be published on the company’s research hub at kaspersky.com in the coming weeks.
The firm’s annual mobile malware report ÔÇö which will complement the 2025 Security Bulletin’s desktop-focused findings ÔÇö is expected to be released separately later in 2026.
Kaspersky Premium, which includes the automated PC backup feature referenced in the expert tips, is available for consumer purchase globally.
BOTTOM LINE
The Bottom Line: Kaspersky’s 2026 data does not just reveal that smartphone users are more diligent than PC users ÔÇö it exposes a more fundamental problem: across all devices, the security habits that matter most are the ones being skipped. In a threat environment where nearly half of Windows users face an active cyberthreat in any given year, the gap between what people fear and what they actually do to protect themselves has become a vulnerability in its own right.
*The Kaspersky survey was conducted by its market research centre in 2026. A total of 7,200 respondents from 18 countries participated: Brazil, China, Colombia, Egypt, France, Germany, India, Indonesia, Italy, Malaysia, Mexico, Russia, Saudi Arabia, Spain, South Africa, Thailand, Turkey, and Vietnam.
BBNaija star Natacha Akide, popularly known as Tacha, was reportedly arrested by the Nigerian Police Force in Lagos.
She was allegedly picked up at her Ajah residence on Sunday.
She reportedly failed to honour three police invitations issued between May and August 2026.
The reported arrest is linked to allegations arising from claims she made online concerning rape and human trafficking.
Tacha had previously accused an unidentified man of trafficking young people to Europe under the guise of offering scholarships.
The report was disclosed by Best of Nollywood CEO Seun Oloketuyi on Instagram.
Main Story
Big Brother Naija star Natacha Akide, popularly known as Tacha, has reportedly been arrested by the Nigerian Police Force in Lagos, According to Nigerian movie producer and Chief Executive Officer of Best of Nollywood, Seun Oloketuyi, Tacha was arrested on Sunday at her residence in Ajah after allegedly failing to respond to three invitations from the police between May and August 2026.
Oloketuyi disclosed the development in a post on his Instagram page, claiming that the reality TV star was eventually picked up at her residence after failing to honour the invitations, The reported arrest comes amid allegations connected to statements Tacha made online concerning rape and human trafficking.
The Issues
Tacha had previously appeared in a viral video in which she accused an unidentified man of trafficking young people to Europe while allegedly using scholarship offers as a means of attracting them, The allegations reportedly prompted police interest and the invitations allegedly issued to the reality star.
However, the available report does not establish whether Tacha has been formally charged with an offence or whether the allegations she made have been proven false, The circumstances surrounding the reported arrest, including the exact allegations being investigated and Tacha’s current legal status, remain subject to official clarification.
What’s Being Said
Seun Oloketuyi claimed that Tacha had been invited by the police on three occasions but failed to honour the invitations before officers reportedly arrested her at her Ajah residence, The report also suggests that the police investigation may be connected to alleged false rape and trafficking claims made by Tacha online, Tacha has previously spoken publicly about her personal and professional journey, including the influence of her late mother on her career and success in the entertainment and beauty industries.
What’s Next
The next stage is expected to depend on the outcome of the police investigation and any statements released by the Nigerian Police Force or Tacha’s legal representatives, If the allegations are substantiated, further legal proceedings could follow. If not, the reported arrest could lead to clarification or dismissal of the allegations.
Bottom Line
Tacha has reportedly been arrested in Lagos after allegedly failing to honour three police invitations, with the matter reportedly linked to allegations arising from claims she made online about rape and human trafficking. However, official confirmation of the specific allegations and her legal status is still important before drawing conclusions.
Nigeria’s average daily petrol imports rose 234 per cent between May and July, according to CPPE.
The increase occurred alongside a decline in domestic PMS supply during the period.
The centre wants petrol imports approved only where verified domestic supply gaps exist.
Main story
The Centre for the Promotion of Private Enterprise (CPPE) has questioned the sharp increase in Nigeria’s petrol imports at a time when the country’s refining capacity is expanding.
In a policy brief issued on Sunday, the centre said average daily imports of Premium Motor Spirit (PMS) climbed from 5.9 million litres in May to 19.7 million litres in July, representing a 234 per cent increase over the period.
Dr Muda Yusuf, Chief Executive Officer of CPPE, said the development raised concerns about the growing role of imported petrol in the domestic market as local refining capacity improves.
The centre said the share of imported PMS in total receipts increased from 12.4 per cent in May to 43.3 per cent in July.
This occurred as domestic PMS supply moved in the opposite direction, falling from 41.5 million litres per day in May to 32.5 million litres in June and 25.8 million litres in July.
CPPE said the figures warranted closer scrutiny because Nigeria was simultaneously recording developments in domestic refining.
The centre acknowledged that imports could remain necessary when local refineries experience disruptions, demand rises unexpectedly, products fail to meet required specifications or additional stocks are needed.
It, however, argued that imports should not become a substitute for local production where domestic refiners have the capacity to supply the market competitively.
CPPE consequently called for a review of the process used by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) to approve petroleum product imports.
It proposed that import licences should be based on verifiable evidence showing that local refiners cannot supply the quantity or quality required by the market at competitive prices.
The centre also recommended monthly publication of key market information, including refinery production, inventories, consumption levels, imports, exports and available stocks.
It said such disclosure would make it easier to determine when imports were genuinely required.
CPPE further proposed limiting the duration of import permits and establishing clearly defined triggers for emergency imports, alongside tighter monitoring of approved shipments.
The centre warned that excessive reliance on imported petrol could reduce the utilisation of Nigerian refineries, weaken incentives for further investment and increase pressure on foreign exchange.
It added that continued import dependence could also shift employment and economic opportunities that could otherwise be generated within the domestic petroleum value chain.
CPPE cited developments at the Dangote Refinery, which reported a test run above 700,000 barrels per day in June, as evidence of the expanding capacity available within the country.
It also referenced NMDPRA’s report of 99.12 per cent average capacity utilisation by domestic refineries in April.
The centre said the objective should not be to exclude imports or shield inefficient refineries from competition, but to ensure that imported products complement rather than undermine local production.
It proposed a market approach centred on prioritising domestic supply while retaining imports as a mechanism for covering demonstrated shortages.
The issues
The sharp increase in petrol imports alongside declining domestic PMS supply has raised questions about how Nigeria is balancing imported products with growing local refining capacity.
CPPE’s position is that imports have a legitimate role where domestic supply is insufficient, but approvals should be based on transparent evidence of actual shortages.
What’s being said
“Imports should serve as a tool for addressing genuine supply gaps rather than displacing adequate local production.” — Centre for the Promotion of Private Enterprise
“Domestic supply first, competition always, imports only for verified gaps.” — Centre for the Promotion of Private Enterprise
What’s next
CPPE wants NMDPRA to introduce a more transparent system for approving petrol imports, including verified supply-gap assessments, monthly market data, time-limited permits and emergency import triggers.
Bottom line
CPPE says the surge in petrol imports despite increased domestic refining capacity could undermine Nigeria’s refining ambitions and has called for imports to be restricted to verified supply gaps while allowing domestic refiners to compete for available demand.
A woman has been arrested for allegedly attempting to smuggle substances suspected to be a psychoactive drug into the Medium Security Custodial Centre, Ibara, Abeokuta, Ogun State.
Correctional officers reportedly discovered the suspected substance concealed inside a sachet of Milo during routine screening.
The woman was visiting an inmate on death row when she was arrested.
The incident occurred at about 1:33 p.m. on Friday, August 28, 2026.
The suspect was handed over to the National Drug Law Enforcement Agency for further investigation and possible prosecution.
The Nigerian Correctional Service reaffirmed its zero-tolerance policy towards drugs and other prohibited items in custodial centres.
Main Story
A woman who visited an inmate at the Medium Security Custodial Centre, Ibara, Abeokuta, Ogun State, has been arrested after correctional officers allegedly discovered substances suspected to be a psychoactive drug concealed in a sachet of beverage, The incident occurred at about 1:33 p.m. on Friday, August 28, 2026, during the mandatory screening of visitors entering the custodial facility.
The Ogun State Command of the Nigerian Correctional Service disclosed the arrest in a statement signed by its Public Relations Officer, Odukoya Olayinka, According to the Service, the woman had arrived at the facility to visit an inmate who is on death row when correctional officers discovered a sachet of Milo containing substances suspected to be “colos”, a street name commonly associated with a psychoactive substance.
Following the discovery, the woman was arrested and handed over to the National Drug Law Enforcement Agency for further investigation and possible prosecution, The Nigerian Correctional Service said the incident demonstrated the vigilance of its personnel and their determination to prevent prohibited items from entering custodial facilities.
The Issues
The incident highlights the continued security challenges faced by correctional facilities in preventing the smuggling of illicit drugs and other prohibited items into prisons, The presence of psychoactive substances within custodial centres can undermine efforts to reform and rehabilitate inmates while creating additional security and behavioural challenges for correctional authorities, The case also underscores the importance of routine screening of visitors and other individuals seeking access to correctional facilities.
What’s Being Said
The Ogun State Controller of Corrections, Kamoru Adesina, commended the officers involved in the arrest, describing their actions as a demonstration of alertness and professionalism, Adesina reaffirmed the Service’s zero-tolerance policy towards drug trafficking and other criminal activities within custodial centres.
He stressed that correctional facilities are intended to reform and rehabilitate inmates and should not become channels for the circulation of illicit substances, The command also warned members of the public against attempting to compromise the security of custodial centres by bringing prohibited items into the facilities.
What’s Next
The suspect has been handed over to the National Drug Law Enforcement Agency for further investigation, The investigation is expected to determine the nature of the substance recovered, its intended recipient and whether additional individuals were involved in the alleged attempt to smuggle it into the facility, If the allegations are established, the suspect could face prosecution under applicable laws.
Bottom Line
The arrest underscores the Nigerian Correctional Service’s efforts to prevent illicit drugs from entering custodial facilities. The suspect’s transfer to the National Drug Law Enforcement Agency means the case will now proceed through further investigation and possible prosecution.
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has questioned the whereabouts of the estimated $10 billion that would have been spent on fuel importation.
Falana argued that the petrol subsidy had effectively ended before President Bola Tinubu announced its removal on May 29, 2023.
He said no money had been allocated for fuel subsidy in the 2023 budget when Tinubu announced that the subsidy was gone.
Falana argued that the expected savings from subsidy removal have been eroded by the devaluation of the naira.
He also criticised what he described as the Federal Government’s neoliberal economic policies.
Falana made the comments during an appearance on Channels Television’s Sunday Politics.
Main Story
Human rights lawyer and Senior Advocate of Nigeria, Femi Falana, has questioned what happened to the estimated $10 billion that would have been spent on fuel importation following the removal of the petrol subsidy, Falana made the comments during an appearance on Channels Television’s Sunday Politics while assessing the impact of President Bola Tinubu’s fuel subsidy removal policy.
He argued that the subsidy had already effectively ended before Tinubu announced its removal on May 29, 2023, because no money had been allocated for subsidy payments in the 2023 budget, “At the commercial rate, by the time President Tinubu announced in May that fuel subsidy was gone, it had already gone because not a dime was earmarked for subsidy that year,” Falana said.
He subsequently questioned what had happened to the resources that were expected to be saved from fuel importation, “The $10 billion that would have been spent on the importation of fuel, where is it?” he asked.
Falana maintained that the expected savings had been undermined by the depreciation of the naira and other economic policies implemented by the Federal Government, “The naira, the exchange rate, has been devalued. So it’s been eaten up by devaluation and other neoliberal policies of the government,” he said.
The Issues
The central issue raised by Falana is whether the financial benefits expected from the removal of petrol subsidy have translated into meaningful savings for the country and improved economic conditions for Nigerians, The debate also centres on the impact of the naira’s depreciation. While subsidy removal was intended to reduce government expenditure and free up resources, the weaker naira has significantly increased the local-currency cost of imported goods and foreign obligations.
Falana’s argument is that the gains expected from eliminating fuel subsidy cannot be assessed in isolation from exchange-rate pressures and the broader economic policies introduced during the reform period.
What’s Being Said
Falana maintains that the government must account for the resources that were expected to become available after the subsidy regime ended, His criticism focuses particularly on the estimated $10 billion associated with fuel importation and whether the removal of that burden has produced corresponding fiscal benefits, The Federal Government, however, has consistently defended subsidy removal as a major economic reform aimed at improving fiscal sustainability and redirecting resources towards infrastructure, social investment and other areas of national development.
What’s Next
The debate over the economic impact of subsidy removal is expected to continue as the Federal Government faces scrutiny over the management of additional fiscal resources and the wider consequences of its reforms, Attention will remain on government revenue, public expenditure, fuel prices, exchange-rate movements and whether the benefits of the reforms become more visible to households and businesses.
Bottom Line
Falana’s intervention puts the spotlight on one of the most contentious questions surrounding Nigeria’s economic reforms: where are the financial benefits of fuel subsidy removal? While the government maintains that the reform has created additional fiscal space, Falana argues that naira devaluation and other economic policies have absorbed much of the expected gains.
Average FGN bond yield rises two basis points week-on-week to 16.87%
Investors show weak demand for local bonds while Treasury bills attract stronger attention
Selective buying emerges in 2028, 2029, 2032 and 2037 FGN bonds
Main Story
Nigerian government bond yields rose last week as investors remained cautious in the secondary market despite surplus financial-system liquidity. The average Federal Government of Nigeria (FGN) bond yield increased two basis points week-on-week to 16.87%, as subdued demand caused prices to weaken across parts of the market, according to AIICO Capital Limited.
Investor attention shifted towards Nigerian Treasury bills, while activity in local bonds remained muted amid tight pricing. The cautious sentiment contributed to bond price depreciation and a corresponding rise in yields.
AIICO Capital said sentiment improved during the week, with selective buying emerging in longer-duration securities. Demand strengthened from midweek into Thursday following positive sentiment at the Treasury Bills auction, supporting buying interest across short- and mid-curve papers.
Investors showed particular demand for FGN bonds maturing in 2028, 2029, 2032 and 2037, while activity at the long end remained subdued as investors focused on securities offering more attractive yields.
The market’s repricing followed a broader disinflationary environment. Headline inflation slowed to 15.43%, according to the figures cited in the market report, widening real returns on naira-denominated assets and creating room for lower borrowing rates at the primary bond market.
AIICO Capital said the lower spot rates at the August primary auction were also consistent with efforts to reduce the government’s borrowing costs.
What’s Being Said
“We expect the domestic bond market to remain cautious in the near term, with yields likely to stay elevated amid subdued demand and prevailing liquidity conditions,” AIICO Capital Limited said in its investors’ note.
What’s Next
Investors are expected to continue selectively positioning across the bond curve based on relative yields
Market participants will monitor forthcoming government debt supply and liquidity conditions for further direction on bond yields
Bottom Line:
The rise in average bond yields reflects a market that is not responding uniformly to improving liquidity and lower inflation. Investors are becoming more selective, favouring securities where yields adequately compensate for the funding and duration risks.
CBN absorbs N2.79 trillion through Wednesday’s OMO auction as system liquidity falls to N4.61 trillion
Another N2.69 trillion OMO allotment and N763 billion Treasury bill settlement push liquidity to N3.61 trillion
Longer-dated NIBOR rates rise as the market begins pricing a tighter funding environment
Main Story
The Central Bank of Nigeria (CBN) tightened money market liquidity last week through N5.48 trillion in OMO allotments and N763 billion in Treasury bill settlements, according to Cowry Asset Limited.
System liquidity opened at N5.46 trillion after N139.15 billion in inflows, with substantial OMO maturities initially supporting the market. However, the CBN resumed active liquidity sterilisation as it sought to absorb surplus funds from the banking system.
The apex bank allotted N2.79 trillion through an OMO auction on Wednesday, against N2.32 trillion in OMO maturities. The intervention left system liquidity at N4.61 trillion, compared with a potential N7.40 trillion without the sterilisation, Cowry Asset said.
The liquidity drain continued on Thursday when the CBN allotted another N2.69 trillion in OMO bills, while N763 billion in Nigerian Treasury bills was settled. System liquidity subsequently closed the week at N3.61 trillion.
Despite the sizeable withdrawals, short-term funding conditions remained relatively stable. The overnight rate declined seven basis points to 22.21%, while the funding rate remained unchanged at 22.00%.
The Nigerian Interbank Offered Rate (NIBOR) also eased marginally by one basis point to 22.229%. However, rates further along the curve moved higher, with one-month, three-month and six-month NIBOR rates increasing by 11, 28 and 34 basis points respectively.
What’s Being Said
“This points to a market that remains reasonably liquid in the immediate term, but is beginning to price in a tighter funding environment over the medium term,” Cowry Asset Limited said in its market note.
What’s Next
Further OMO auctions and Treasury bill settlements will determine how quickly surplus liquidity is absorbed
Money-market participants will continue monitoring the NIBOR curve for evidence of sustained funding pressure
Bottom Line:
The CBN’s renewed sterilisation is absorbing a substantial portion of the banking system’s liquidity without triggering an immediate spike in overnight funding costs. However, rising rates across the longer NIBOR tenors suggest the market is beginning to anticipate tighter funding conditions beyond the immediate trading horizon.
Nigeria’s food crisis is increasingly a financing, data and technology challenge, not only an agricultural problem.
Food inflation remains a major concern for households despite easing headline inflation.
Only about 6% of African farmers have access to formal credit, according to the African Development Bank.
Traditional banking models often struggle to accommodate the unpredictable nature of agriculture.
Limited financial records and conventional collateral requirements leave many farmers outside formal financial systems.
Satellite technology, weather intelligence, mobile platforms and digital agriculture are creating new ways to assess farmers and agricultural risks.
Digital records can help lenders better understand farmers’ activities and improve credit and insurance decisions.
AI-powered agricultural advisory tools can provide farmers with information on weather, planting, markets and crop management.
Stronger partnerships between banks, agritech companies, governments and development institutions could improve agricultural financing.
Climate volatility is increasing the need for flexible financing and stronger agricultural risk-sharing mechanisms.
Better agricultural financing could help improve food security, household incomes and broader economic stability.
Main Story
Nigeria’s food crisis is increasingly exposing a weakness beyond the farm: the country’s financial system may not be adequately designed to support the people responsible for producing its food, While policymakers often focus on seeds, fertiliser, farming subsidies and other agricultural interventions, access to appropriate financing remains a major obstacle to increasing agricultural productivity.
Food prices continue to put pressure on Nigerian households. Even as headline inflation eased to 15.9% in June, food inflation accelerated on a month-on-month basis, with staples including tomatoes, peppers, yams and cassava products contributing to household pressures, The situation highlights the importance of looking beyond production itself and examining how farmers access capital, technology, markets and financial services.
Agriculture remains central to Nigeria’s economy and provides livelihoods for millions of people across the country and the wider African continent, However, according to the African Development Bank, only about 6% of African farmers have access to formal credit, The gap reflects a fundamental mismatch between conventional banking practices and the realities of agricultural production.
Traditional financial institutions generally rely on predictable income, documented financial histories and conventional collateral when assessing borrowers, Agriculture operates differently, Farmers face unpredictable rainfall, changing commodity prices, crop failures, insecurity, supply-chain disruptions and other risks that can make conventional lending models difficult to apply.
Many smallholder farmers also lack formal records, established credit histories or assets that can easily serve as collateral, The result is a cycle in which farmers struggle to obtain financing, inadequate investment limits productivity and weak productivity reinforces the perception that agricultural lending is excessively risky, Breaking that cycle requires a different approach to measuring and managing agricultural risk.
The Issues
Nigeria cannot address food insecurity sustainably if the financial system continues to exclude a significant proportion of the people responsible for food production, The problem is not necessarily a lack of entrepreneurial capacity among farmers. Rather, existing financial structures often fail to capture the realities of agricultural businesses.
A farmer may have productive farmland, a reliable customer base and years of farming experience but still struggle to obtain a conventional bank loan because those strengths are difficult to translate into the documentation and collateral requirements used by traditional lenders, Climate change is adding another layer of complexity.
Changing weather patterns and extreme climate events can disrupt planting cycles, reduce yields and create sudden financial shocks for farmers, Agricultural financing models designed around relatively predictable production conditions are therefore becoming increasingly inadequate, Food insecurity also has implications beyond the agricultural sector, High food prices affect household purchasing power, nutrition, business costs and social stability. Improving agricultural financing is consequently an economic policy issue as much as it is a farming issue.
What’s Being Said
The argument is increasingly shifting from simply providing more agricultural loans to developing smarter ways of identifying, measuring and managing agricultural risk, Technology is playing an important role in that transition, Satellite imagery can provide information on planting cycles and farmland activity, while weather intelligence can help anticipate climate-related risks.
Mobile platforms and USSD services can also generate transaction records for farmers who have historically operated outside formal banking systems, These digital footprints can give lenders additional information when assessing borrowers, Digital agriculture platforms are also providing farmers with crop advice, weather updates and market information through mobile devices, including services delivered in local languages.
The wider argument is that better data can change how financial institutions perceive agricultural borrowers, When farming activity becomes measurable and documented, lenders can make more informed decisions, while insurers and other financial service providers can design products that better reflect agricultural realities, Technology, therefore, is not simply about automating farming activities. It can help create greater trust between farmers and financial institutions.
What’s Next
The next phase of Nigeria’s agricultural transformation will likely depend on stronger cooperation between banks, fintech and agritech companies, government agencies and development institutions, These partnerships could create financing models that combine agricultural data, digital payments, insurance, advisory services and credit.
AI-powered advisory systems could also expand access to timely information on weather conditions, crop management, planting decisions and market prices, particularly for smallholder farmers who may not have direct access to agricultural experts, Another priority will be developing financing mechanisms capable of responding to climate shocks.
This could include stronger agricultural insurance systems, alternative approaches to collateral, data-driven credit assessment and risk-sharing arrangements involving government and private-sector institutions, Nigeria’s experience could also have wider implications for Africa, where many countries face similar challenges involving food security, climate volatility, limited access to credit and constrained public finances.
Bottom Line
Nigeria’s food crisis cannot be solved through agricultural interventions alone, Farmers need access to financing systems that understand the realities of farming, rather than forcing agricultural businesses into models designed for more predictable sectors, By combining financial innovation with agricultural data, digital technology, insurance and stronger partnerships, Nigeria could make farmers more visible to the formal financial system and unlock greater investment in food production, The future of food security will therefore depend not only on how much money is made available to agriculture, but on how intelligently that money is allocated, monitored and protected.
The exchange rate between the Naira and the US dollar, according to the data released on the FMDQ Security Exchange,the official forex trading portal, showed that the naira closed at 1339 per $1 on Monday, August 31st 2026. The naira traded as high as 1335 to the dollar at the investors and exporters (I&E) window on Sunday. This is brought to you by Bizwatch Nigeria.
Dollar to naira exchange rate today black market (Aboki dollar rate):
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1405 and buy at ₦1390 on Sunday 30th August, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN)
Black Market Exchange Rate Today
Selling Rate
₦1405
Buying Rate
₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN)
CBN Rate Today
Highest Rate
₦1339
Lowest Rate
₦1335
Please note that the rates you buy or sell forex may be different from what is captured in this article because prices vary.
OPay has dismissed viral reports claiming it will suspend operations from September 1.
The fintech company described the circulating publication as false and misleading.
The rumour urged customers to withdraw their funds ahead of an alleged shutdown.
OPay said its services remain fully operational and that it has no plans to suspend business activities.
The company identified an incorrect logo, spelling errors, an unfamiliar communication format and inaccurate information as signs that the viral message was fabricated.
OPay urged customers to rely on its verified communication channels for authentic updates.
The clarification comes amid reports that OPay is considering a potential listing on the Nigerian Exchange.
OPay reportedly recorded a strong financial turnaround in 2025, moving from a loss in 2024 to a net profit of $72.47 million.
Main Story
OPay has denied viral reports circulating on social media claiming that the fintech company plans to suspend its operations from September 1, 2026, The message, which gained traction across multiple social media platforms, advised OPay customers to withdraw their funds ahead of an alleged operational shutdown scheduled for September.
The claim triggered concern among some users, with reports of customers making precautionary withdrawals after encountering the message online, OPay has now moved to dispel the speculation, assuring customers that its services remain operational and that there are no plans to suspend its business activities.
The fintech company described the viral publication as false and misleading and urged customers to verify information through its official communication channels before taking action, OPay said customers familiar with its official communications would be able to identify several inconsistencies in the circulating message.
The company pointed to the use of an incorrect logo, spelling mistakes, an unfamiliar communication template and inaccurate information as evidence that the publication did not originate from OPay, The company urged users to disregard the viral message and follow its verified platforms for legitimate announcements, The clarification comes at a time when OPay is reportedly considering further expansion, including a potential listing on the Nigerian Exchange and a possible United States initial public offering.
The Issues
The viral closure claim created uncertainty among OPay customers because of the potential financial implications of a sudden suspension of services, Digital financial platforms handle payments, transfers, savings and other transactions for millions of users, meaning false information about an operational shutdown can quickly create panic and trigger unusual customer behaviour.
The incident also highlights the risks posed by fraudulent or misleading financial information circulating through social media, OPay’s warning reinforces the importance of checking announcements against official company platforms before withdrawing funds or making other financial decisions based on information circulating online.
The company has also had to distinguish the false closure claim from genuine reports concerning its future business plans, While reports have suggested that OPay is considering a potential NGX listing and a possible US IPO, those developments should not be confused with the false claim that the company intends to shut down its Nigerian operations.
What’s Being Said
OPay said the September closure claim is false and that the company is not going on a break, The fintech urged customers to examine viral communications carefully and look for signs that could indicate that a message is not an authentic company announcement, OPay specifically identified the incorrect logo, spelling errors, unfamiliar communication format and inaccurate information contained in the viral publication, The company also advised users to verify information through its official communication channels rather than relying on unverified social media posts.
What’s Next
OPay is expected to continue its normal operations while monitoring the spread of the false information, Customers are expected to rely on the company’s verified communication channels for future announcements concerning its services, products or business operations, Meanwhile, attention will remain on OPay’s reported growth plans, including the possibility of a listing on the Nigerian Exchange and a potential US IPO, If either listing proceeds, it could represent a significant development for Nigeria’s technology and capital markets, particularly given OPay’s position in the country’s rapidly expanding fintech sector.
Bottom Line
OPay has dismissed the viral claim that it will shut down or suspend operations from September 1, describing the message as fabricated, Customers have been advised not to act on the rumour and to verify financial or operational information through OPay’s official channels, The clarification comes as the fintech continues to expand, with reported plans for potential capital-market listings and strong financial growth providing a sharp contrast to the false shutdown narrative.
The Board of Directors of Access Holdings Plc approved the Group’s audited interim financial statements for the half-year ended June 30, 2026.
The approval was granted at a board meeting held on August 27, 2026.
The financial statements will now undergo the required regulatory approval process by the Central Bank of Nigeria.
Access Holdings said it will publish the audited H1 2026 results on the Nigerian Exchange Limited after receiving CBN approval.
The company remains in a closed period until 24 hours after the audited financial statements are released to the public.
Directors, insiders and their connected persons are prohibited from trading in Access Holdings securities during the closed period.
The process reflects the group’s focus on regulatory compliance, corporate governance and transparency.
Main Story
The Board of Directors of Access Holdings Plc has approved the Group’s audited interim consolidated and separate financial statements for the half-year ended June 30, 2026, The approval was given at a board meeting held on August 27, 2026, marking an important stage in the financial institution’s 2026 financial reporting process.
Access Holdings said the financial statements will now proceed through the required regulatory process, including review and approval by the Central Bank of Nigeria before they are released to the investing public, According to the company, the approval by the board clears the way for the final regulatory stage of its mid-year financial reporting.
The group said that following receipt of the CBN’s approval, it will publish the audited financial statements through the Nigerian Exchange Limited and make them available to shareholders, investors and other stakeholders through its established communication channels, The development is significant for investors and shareholders who are awaiting the group’s half-year financial performance and further information about its operations during the first six months of 2026.
Access Holdings said the process demonstrates its commitment to strong corporate governance, regulatory compliance and transparent communication with stakeholders, The group operates across Africa and international markets and has continued to position itself as a diversified financial services organisation.
The Issues
The major issue surrounding the financial statements is the completion of the regulatory approval process before their public release, Although the Access Holdings board has approved the statements, the results cannot proceed to their full public release until the necessary regulatory processes are completed.
The CBN’s review is particularly important because of the regulatory requirements applicable to financial institutions operating within Nigeria’s banking sector, Investors will also be watching the eventual results for information on the group’s revenue, profitability, asset quality, capital position and performance across its different businesses.
Another issue is the restriction on insider trading during the closed period, Access Holdings confirmed that, in accordance with the NGX Issuers’ Rules, the company will remain in a closed period until 24 hours after the audited financial statements are released to the public.
This means directors, insiders and their connected persons are prohibited from dealing directly or indirectly in the company’s securities during the restricted period, The restriction is designed to prevent individuals with access to price-sensitive information from trading ahead of the public release of the financial results.
What’s Being Said
Access Holdings said the audited financial statements were considered and approved by its board at the August 27 meeting, The company stated that the statements would now proceed through the required regulatory process, including CBN approval, Access Holdings also emphasised its commitment to strong governance, regulatory compliance and transparent engagement with stakeholders as it continues to build what it described as a more connected and resilient financial services group, The company further confirmed that the closed-period restrictions would remain in force until 24 hours after the audited financial statements are made public.
What’s Next
The immediate next step is the submission and completion of the CBN’s review and approval process, Once regulatory approval is obtained, Access Holdings is expected to release its audited H1 2026 financial statements to the Nigerian Exchange Limited and other stakeholders, Investors will then be able to assess the group’s financial performance for the first half of the year and compare its results with previous reporting periods, The lifting of the closed period will also occur 24 hours after the public release of the audited financial statements, allowing eligible insiders to resume trading subject to applicable rules.
Bottom Line
Access Holdings has completed the board-level approval of its H1 2026 audited financial statements and is now awaiting the required regulatory clearance from the CBN, The eventual publication of the results will give shareholders and investors a clearer picture of the group’s financial performance in the first half of 2026, while the continued closed period ensures that insiders cannot trade on unpublished price-sensitive information.
The Nigerian Independent System Operator attributed recent reductions in electricity allocations to Lagos, Abuja and northern parts of Nigeria to multiple transmission line outages.
NISO said the reductions were caused by transmission constraints and not a shortage of electricity generation.
Several 330kV transmission lines serving the Lagos corridor experienced outages, limiting the amount of electricity that could safely be transferred into the area.
Eko Electricity Distribution Company, Ikeja Electric and the Sakete international supply had their allocations reviewed and curtailed.
Transmission failures on the Shiroro-Mararaba, Shiroro-Mando and Mando-Jos corridors affected Abuja, Jos and other northern locations.
Kano, Kaduna, Jos, Yola and other areas experienced revised or reduced allocations because of the constraints.
Two transmission lines serving the Abuja axis also tripped simultaneously on August 29 but were restored shortly afterwards.
NISO said generation availability alone does not guarantee electricity supply because transmission infrastructure must have sufficient capacity to move available power.
The outages highlight the vulnerability of Nigeria’s interconnected electricity network and the country’s longstanding transmission infrastructure challenges.
NISO said it adjusted generation dispatch and DisCo allocations to keep the national grid within safe operating limits and prevent wider system disturbances.
Main Story
Recent reductions in electricity allocations to Distribution Companies serving Lagos, Abuja and parts of northern Nigeria have been attributed to multiple transmission line outages that constrained the capacity of the national grid, The Nigerian Independent System Operator said the affected allocations were adjusted because of transmission constraints and not because of insufficient electricity generation.
In a statement titled “Clarification on Recent Changes in Power Allocations Following Transmission Line Outages,” NISO explained that the availability of electricity generation does not automatically mean that the power can be delivered to consumers in a particular location, According to the system operator, electricity must be transferred through transmission infrastructure with sufficient capacity and a configuration capable of safely carrying the available power.
NISO said it adjusted generation dispatch and electricity allocations to ensure that the remaining transmission network operated within secure limits and to prevent a wider disturbance to the national grid, The Lagos corridor was particularly affected by successive outages involving the Olorunsogo-Ayede 330kV Line 1, Benin-Egbin 330kV Line 1 and Benin-Omotosho 330kV Line 1.
The Osogbo-Ikeja West circuit also remained out of service for an extended period, NISO said the cumulative loss of these critical transmission circuits reduced the amount of electricity that could safely be transferred into Lagos.
Consequently, allocations to Eko Electricity Distribution Company, Ikeja Electric and the Sakete international supply were reviewed and curtailed based on the prevailing network configuration and system-security requirements, The northern corridor also experienced significant transmission constraints.
NISO said the Shiroro-Mararaba 330kV Line 1 tripped between August 24 and 26, affecting electricity allocations to Abuja and northern parts of the country because the remaining transmission circuit had to carry the load, The situation became more critical at 6:47 a.m. on August 27 when the Shiroro-Mando 330kV Line 2 and Mando-Jos 330kV Line 1 tripped simultaneously.
The development left the Mando-Jos circuit as the only available transmission line serving Jos and the North-East, while the alternative Apir-Lafia 330kV Lines 1 and 2 had remained out of service for an extended period because of faults, The simultaneous outages significantly reduced transmission capacity to Jos and the North-East and altered the network configuration following the separation of the bus at the Mando Transmission Substation.
NISO consequently revised and curtailed allocations to Kano, Kaduna, Jos, Yola and other affected areas to ensure that the remaining network continued to operate within secure limits, The Abuja axis experienced another transmission problem on August 29 when the Shiroro-Katampe 330kV Line 1 and Gwagwalada-Katampe 330kV Line 1 tripped simultaneously at 3:55 a.m, NISO said both circuits were restored shortly afterwards, with the Shiroro-Katampe line restored at 7:25 a.m. and the Gwagwalada-Katampe line restored at 7:20 a.m.
The Issues
The latest disruption highlights one of the major structural challenges facing Nigeria’s electricity market: having enough generation capacity does not necessarily translate into reliable electricity supply, NISO said the national electricity network depends on the interaction between generation, transmission and distribution infrastructure, Where transmission capacity is constrained, available generation may not be safely transferred to areas that need it.
This means that even when power plants are capable of producing electricity, consumers may still experience reduced supply if transmission lines or other critical infrastructure are unavailable, The repeated outages also demonstrate the vulnerability created when multiple critical transmission circuits are unavailable at the same time.
In Lagos, the loss of several transmission circuits reduced the amount of power that could safely be transferred into the area, In the North, simultaneous failures affected the ability of the system to supply Jos, the North-East and other locations, NISO therefore had to redistribute generation, curtail some loads and adjust allocations to DisCos as part of its system-security responsibilities.
What’s Being Said
NISO said the recent changes in electricity allocations should not be interpreted as evidence of a shortage of generation, The operator explained that “generation availability does not automatically translate into deliverable power to Distribution Companies”, stressing that adequate transmission capacity and a secure network configuration are equally necessary.
NISO said it continuously monitors the transmission network before determining the amount of electricity that can safely be delivered to different areas, It also said temporary redispatch of generation, load curtailment and changes to DisCo allocations become necessary when transmission constraints prevent the safe transfer of available electricity, The clarification was issued amid concerns over changing electricity allocations to DisCos serving some of Nigeria’s largest population and commercial centres.
What’s Next
The immediate priority will be the restoration and stabilisation of affected transmission circuits to increase the amount of electricity that can safely be transferred to Lagos, Abuja and the northern corridors, The situation also reinforces the need for sustained investment in Nigeria’s transmission infrastructure and the maintenance of critical transmission lines.
Reducing the number of unavailable circuits would provide NISO with greater flexibility to distribute available generation across the country and reduce the risk that a single transmission fault could trigger wider supply constraints, The reliability of the national grid will continue to depend on improvements across all three stages of the electricity value chain: generation, transmission and distribution.
Bottom Line
The recent reduction in electricity allocations to Lagos, Abuja and several northern locations was caused by transmission constraints rather than inadequate power generation, according to NISO, Multiple transmission line outages reduced the amount of electricity that could safely be transferred to affected areas, forcing the system operator to adjust generation dispatch and DisCo allocations.
The development highlights a central weakness in Nigeria’s power sector: generating electricity is only one part of the supply chain. Without reliable transmission infrastructure capable of moving that electricity to consumers, additional generation capacity cannot fully translate into improved electricity supply.
Abi clashed with Flora and Nomy during Day 36 in the Big Brother Naija Show Ya Sef house.
The disagreements added to the growing tension among the housemates following the fifth Live Show.
Abi has continued to find herself involved in several disagreements as relationships and alliances shift inside the house.
Flora has increasingly become involved in confrontations with other housemates following her clash with Temi Nkem and Oyin.
Nomy has also been at the centre of conversations and disagreements involving several housemates.
The latest clashes come as the housemates prepare for another round of nominations and the consequences of the new game twists.
Main Story
Tension continued to build inside the Big Brother Naija Show Ya Sef house on Day 36 as Abi found herself at odds with Flora and Nomy, The disagreements came shortly after a dramatic Live Show that saw Sultex and Goddessa evicted from the competition and Temi Nkem, Flora and Oyin clash over comments made during the live broadcast.
With the number of housemates gradually decreasing, relationships inside the house have become increasingly complicated, with disagreements over behaviour, friendships, alliances and individual game strategies becoming more frequent, Abi’s clashes with Flora and Nomy added another layer to the developing tensions as the housemates adjusted to the aftermath of the latest eviction, The atmosphere inside the house has already been tense, with several housemates questioning one another’s intentions and accusing others of being fake or playing strategic games.
The Issues
The growing disagreements among the housemates reflect the pressure created by the competition and the changing dynamics following each eviction, Flora has recently found herself at the centre of several confrontations. Her disagreement with Temi Nkem and Oyin after the Live Show had already highlighted tensions surrounding comments about her personality and identity.
Nomy has also become increasingly involved in conversations concerning relationships and strategy. Earlier in the week, Tram discussed his heart-to-heart conversation with Nomy with Keivo and Oyin, saying that the two of them had resolved their differences and shared similar personalities.
Abi, meanwhile, has continued to maintain relationships with different groups in the house, making her position increasingly important as alliances shift, The clashes demonstrate how quickly ordinary disagreements can develop into larger conflicts when housemates are living together under constant competition and scrutiny.
What’s Being Said
The latest disagreements have added to a pattern of tension that has emerged throughout the week, Housemates have openly discussed issues including fake friendships, strategy, food, participation in tasks and the behaviour of other contestants. During Day 33, for instance, Sheba and Goddessa discussed their concerns about some housemates’ commitment to tasks and questioned whether certain contestants were taking the competition seriously.
Tram also became involved in a separate confrontation with Yusuf and Araga, while another disagreement broke out in the kitchen over food., These incidents point to an increasingly volatile atmosphere as the housemates become more aware that every interaction could affect their chances of remaining in the competition.
What’s Next
Attention now turns to the next nomination process and how the latest disagreements could influence voting decisions inside the house, The incoming Head of House will also operate without veto power over the nomination process, meaning the usual protection associated with the position has been reduced.
The outcome of the Gambit twist will also add another element of uncertainty, with viewers deciding whether one or both Gambit housemates, Flora and Aikou, should be released to compete for the prize money, As alliances continue to shift, the relationships between Abi, Flora and Nomy will be worth watching in the coming days.
Bottom Line
Abi’s clashes with Flora and Nomy add to an increasingly tense period inside the Big Brother Naija Show Ya Sef house, Following two evictions, several confrontations and major changes to the game’s power structure, the remaining housemates are under growing pressure to protect their positions, With nominations approaching and alliances constantly changing, disagreements such as these could have consequences far beyond the immediate arguments.
Flora and Oyin confronted Temi Nkem after the fifth live eviction show.
The confrontation followed Temi Nkem’s description of Flora and Oyin as the “local birds” she had referred to during her conversation with Ebuka.
Flora and Oyin took offence at the description and demanded an explanation from Temi Nkem.
The disagreement quickly became heated and personal.
The housemates argued over identity, how they speak and the perception of “London English”.
The confrontation added to the growing tensions and divisions inside the Show Ya Sef house.
The clash came shortly after Sultex and Goddessa were evicted from the competition.
Main Story
Tension erupted in the Big Brother Naija Show Ya Sef house after Sunday night’s live eviction show as Flora, Oyin and Temi Nkem became involved in a heated confrontation over comments made during the live broadcast, The disagreement followed Temi Nkem’s appearance on the hot seat with Ebuka, where she was asked to identify the two housemates she had previously referred to as “local birds”.
Temi Nkem named Flora and Oyin, The comment immediately became a source of tension after the live show, with Flora and Oyin confronting Temi Nkem and demanding an explanation for why she had described them that way, According to Africa Magic, the disagreement quickly became personal, with the three housemates exchanging heated words over identity and the way they speak. The argument also touched on the issue of speaking “London English”, further escalating the confrontation.
Neither side appeared willing to back down as the discussion intensified. Flora and Oyin made it clear that they were unhappy with Temi Nkem’s description, while Temi Nkem stood her ground during the confrontation, The clash came after an already dramatic live show that saw Sultex and Goddessa leave the Show Ya Sef house. The live show had also featured Ebuka questioning Temi Nkem about her earlier comments and asking her to identify the housemates she considered “local”.
The Issues
At the centre of the dispute was Temi Nkem’s use of the phrase “local birds” to describe Flora and Oyin, While the phrase had been introduced during the live show, its consequences continued after the broadcast as the two housemates sought clarification from Temi Nkem, The argument also exposed deeper differences between the housemates over identity, communication and social presentation.
The reference to “London English” added another dimension to the disagreement, with the housemates questioning one another over how they speak and how they perceive themselves in relation to others, The confrontation is another indication of the increasingly divided atmosphere inside the house as alliances, friendships and rivalries continue to change.
What’s Being Said
Temi Nkem had earlier identified Flora and Oyin when Ebuka asked her who she meant by “the two local birds”, Her comments were subsequently challenged by the two housemates after the live show, Africa Magic described the confrontation as one that quickly became personal, with neither side backing down as the exchange escalated., The disagreement follows several other confrontations in the house, including tensions involving Tram, Sheba, Nomy, Goddessa and other housemates.
What’s Next
The fallout from the confrontation could have an impact on relationships and alliances as the housemates move into another week of competition, With Sultex and Goddessa already evicted, the remaining housemates must now deal with a new round of nominations and the consequences of the latest disputes.
The growing tension between Flora, Oyin and Temi Nkem could also become another storyline to watch as the competition progresses, The house is already experiencing significant changes in its alliances, with several contestants openly questioning the motives and loyalties of others.
Bottom Line
The clash between Flora, Oyin and Temi Nkem has added another layer of drama to an already turbulent week in the Big Brother Naija Show Ya Sef house, What began with Temi Nkem’s “local birds” comment during the live show escalated into a heated confrontation after the broadcast, exposing deeper disagreements over identity, language and perception, With tensions rising and alliances shifting, the confrontation could have consequences for the relationships and strategies of all three housemates as the competition moves into its next stage.
Sultex and Goddessa were evicted during the fifth live show of Big Brother Naija Season 11.
The evictions took place on Sunday, August 30, 2026, reducing the number of housemates remaining in the Show Ya Sef house.
Ebuka Obi-Uchendu questioned Head of House Chimsom Chuka about the growing divisions in the house and his relationship with Tram.
Chimsom Chuka secured his second Head of House victory and consecutive immunity despite his team’s second wager loss under his leadership.
Sheba became the fourth Most Influential Player of the Week (MIPOW), earning immunity and the BetPawa Elite Reward.
Bluethopia and Nomy were questioned over allegations concerning Nomy’s age, her relationship with Temi Nkem and comments about other housemates.
Goddessa’s eviction brought an end to her relationship with Araga inside the house
Temi Nkem triggered tension during the live show after identifying Oyin and Flora as the two housemates she referred to as “local birds”.
A new twist was announced, with the incoming Head of House losing veto power over Monday’s nomination process.
Viewers were also given the power to decide whether one or both of The Gambit housemates, Flora and Aikou, would be released to compete for the prize money.
Main Story
The pressure intensified in the Big Brother Naija Show Ya Sef house on Sunday as the fifth live show of Season 11 delivered two evictions, heated confrontations and a major twist to the nomination process, Sultex and Goddessa became the latest housemates to leave the competition, with their exits leaving the remaining contestants facing another week of uncertainty as alliances, relationships and rivalries continue to develop inside the house.
The live show opened with Ebuka Obi-Uchendu crossing into the house to speak with Head of House Chimsom Chuka, Ebuka congratulated Chimsom Chuka on securing his second Head of House victory and back-to-back immunity, but also pointed out that his reign had been accompanied by another wager loss and growing divisions among the housemates.
He questioned Chimsom Chuka about his thoughts on Tram and the apparent tension between them, Chimsom Chuka did not hold back, saying that if there were a boxing ring in the house, he believed he would beat Tram. He described Tram as someone who talks extensively but does not follow through on his words, The conversation highlighted the increasingly visible camps and rivalries developing among the housemates as the competition enters another crucial stage.
The Issues
The live show also brought renewed attention to the relationships and alliances shaping the competition, Sheba, the first female Head of House of the season, was crowned the fourth Most Influential Player of the Week after housemates agreed that she deserved the recognition.
The MIPOW title came with immunity and the BetPawa Elite Reward, giving Sheba another layer of protection as the competition intensifies, Ebuka also confronted Bluethopia over claims concerning Nomy’s age and her alleged use of Temi Nkem to advance her game.
Bluethopia maintained her position and questioned Nomy’s claim that she was 26 years old, referencing her alleged 2020 audition and the minimum audition age requirement, She also accused Nomy of bossing Temi Nkem around, Nomy was subsequently questioned about several comments she had made concerning Bluethopia’s appearance, her relationship with Chimsom Chuka and Goddessa’s friendships.
Rather than denying the comments, Nomy acknowledged making them and maintained that she was expressing her genuine opinions, The tensions escalated further when she questioned whether Bluethopia genuinely liked Chimsom Chuka.
What’s Being Said
Sultex became the first housemate to be evicted during the live show, Speaking to Ebuka after his eviction, Sultex expressed surprise at leaving the competition and reflected on his experience in the house. He also indicated that he intended to explore opportunities outside the Big Brother Naija house.
Goddessa was subsequently evicted, becoming the seventh housemate to leave the Show Ya Sef house, Her departure also brought attention to her relationship with Araga, Asked whether she cared about Araga, Goddessa acknowledged that she did but said she felt he was demanding and that there were too many expectations surrounding their relationship.
She said she wanted Araga to have his own journey while she pursued hers outside the house, Goddessa also revealed that she intends to continue creating music and developing her career as a singer and songwriter after leaving the show.
Temi Nkem’s Table-Shaking Moment
Another major talking point from the live show came when Ebuka questioned Temi Nkem about the identity of the two housemates she had previously described as “local birds., Temi Nkem named Oyin and Flora, When pressed about the comment, she explained that Tram had allegedly told her that he uses people in the house and did not rate several of the contestants, Her explanation connected Oyin and Flora to the comments and immediately caused tension.
Being described as “local” upset both Flora and Oyin, resulting in a heated exchange during the live broadcast, The incident added another layer to the growing divisions within the house and demonstrated how comments made privately can quickly become major confrontations once exposed during the live show.
What’s Next
The fifth live show ended with a major change to the game’s nomination structure, The incoming Head of House will not have veto power over Monday’s nomination process, meaning the new HoH will have limited protection against the decisions that emerge from the nominations.
Viewers will also determine the fate of The Gambit housemates through Operation Release The Gambit, The public will decide whether one or both housemates involved, Flora and Aikou, should be released, If released, they will have the opportunity to compete for the prize money, adding another layer of uncertainty to the competition, With Sultex and Goddessa gone, attention now turns to the remaining housemates, Monday’s nominations and the potential impact of the new Gambit twist.
Bottom Line
The fifth BBNaija live show delivered two major evictions, renewed tensions and a significant change to the game’s power structure, Sultex and Goddessa have left the Show Ya Sef house, while Sheba gained immunity through the MIPOW title, Meanwhile, Chimsom Chuka’s growing rivalry with Tram, the confrontation involving Bluethopia and Nomy, and Temi Nkem’s comments about Oyin and Flora have intensified the interpersonal drama, With the new Head of House stripped of veto power and viewers given control over the fate of The Gambit housemates, the competition is entering another unpredictable stage.
Presidency says economic reforms are restoring confidence and creating opportunities for Nigerian businesses.
Presidential aide points to improved foreign exchange conditions as one factor supporting entrepreneurs.
Makib Estilo says better exchange rates have improved its ability to source imported products.
Main story
The Presidency says Nigeria’s economic reforms are beginning to improve business confidence and create better conditions for entrepreneurs to expand their operations.
Dr Nafia Abdullahi, Technical Assistant on Regional Development Programmes in the Office of the Vice President, made the assessment on Sunday in Abuja during the inauguration of Makib Estilo, a business outlet established by Fatima Abdullahi-Bono.
Abdullahi said the expansion of the enterprise from a small shop into a diversified business illustrated the opportunities emerging from the Federal Government’s economic policies under the Renewed Hope Agenda.
She urged critics of the administration to assess the reforms by engaging directly with businesses and citizens rather than relying on second-hand accounts of their impact.
According to her, the adjustment to the new economic environment has been difficult for many Nigerians, but businesses are gradually adapting and beginning to recognise opportunities created by the changes.
She identified developments in the foreign exchange market as particularly important to businesses that depend on imported goods.
Abdullahi recalled that the sharp depreciation of the naira had previously increased import costs and made it difficult for entrepreneurs to maintain or expand their businesses.
She said the more recent improvement in exchange-rate conditions had helped ease some of those pressures and contributed to greater stability for businesses.
Abdullahi used Makib Estilo as an example, noting that the business had grown over seven years from Makib Apparels into a diversified outlet offering interior products, kitchenware, fabrics and other household and lifestyle products.
She said the adoption of the Makib Estilo identity was intended to bring the company’s expanding product lines and outlets under one brand.
The entrepreneur, Abdullahi-Bono, also attributed part of the company’s growth to improved foreign exchange conditions, noting that most of its products were imported.
She said the cost of sourcing goods had become more manageable as the exchange rate improved, allowing the business to operate more effectively and serve its customers.
Earlier, the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, said businesses were recording growth under the Tinubu administration.
She said the Federal Government was supporting micro, small and medium enterprises through intervention funds, single-digit loans and initiatives aimed at helping entrepreneurs formalise their businesses at no cost.
Abdullahi-Bono said Makib Estilo planned to expand its operations, attract investors and create additional business opportunities.
She expressed the ambition to establish outlets across Nigeria and eventually expand into international markets.
The issues
The impact of Nigeria’s economic reforms remains closely tied to how businesses experience changes in exchange rates, financing costs and operating conditions.
For import-dependent enterprises such as Makib Estilo, movements in the foreign exchange market can directly affect the cost of inventory and the ability to maintain stable operations.
What’s being said
“They should judge us with clean eyes. They should open their eyes, interact and come to us and ask questions instead of using hearsay.” — Dr Nafia Abdullahi, Technical Assistant on Regional Development Programmes
“Before, we had been dealing with a higher dollar rate, but with the coming of the present administration everything is going down.” — Fatima Abdullahi-Bono, Founder, Makib Estilo
What’s next
Makib Estilo plans to expand its operations, attract investors and create additional opportunities for people interested in starting businesses.
Bottom line
The Presidency says improving economic conditions are giving businesses greater room to grow, while Makib Estilo’s experience suggests that exchange-rate movements remain a significant factor in determining how import-dependent Nigerian enterprises operate.
