Nairametrics Live Updates

Launched in 2002, it was one of Nigeria’s earliest fintech experiments, imagining a future most people couldn’t yet see. While today’s giants like OPay, PalmPay, MoneyPoint, and Kuda are celebrated, pioneers like FlashMeCash remind us that being first isn’t always enough. Sometimes the world just isn’t ready. Watch the full Money Brief on YouTube @nairametrics.tv https://youtu.be/DckTO3k0x0M

FCT IGR rises from N9 billion to over N40 billion monthly, says Wike The Minister of the Federal Capital Territory (FCT), Nyesom Wike, has disclosed that the current administration has increased the territory’s internally generated revenue (IGR) from N9 billion to over N40 billion monthly within three years. Wike made the disclosure while responding to questions during his monthly media chat in Abuja on Thursday, July 9. He attributed the significant improvement in revenue generation to the Federal Government’s decision to remove the FCT Administration from the Treasury Single Account (TSA), describing the move as a major enabler of the administration’s development agenda. Read more https://nairametrics.com/2026/07/09/fct-igr-rises-from-n9-billion-to-over-n40-billion-monthly-says-wike/

CBN’s proposed HoldCo capital rules could trigger investor fatigue, shareholders warn A group of shareholders have urged the Central Bank of Nigeria (CBN) to reconsider a proposed capital requirement for Financial Holding Companies (HoldCos), warning that it could lead to repeated capital raising, investor fatigue and weaken confidence in the banking sector. The shareholders, in a submission on the CBN’s Exposure Draft of the Revised Guidelines for Licensing and Regulating Financial Holding Companies in Nigeria issued on Thursday, said they support the apex bank’s efforts to strengthen financial stability but raised concerns over provisions requiring additional capital at multiple holding company levels. Read more https://nairametrics.com/2026/07/09/cbns-proposed-holdco-capital-rules-could-trigger-investor-fatigue-shareholders-warn/

Nigeria tops Africa in Global Responsible AI Index, ranks 38th worldwide Nigeria has emerged as Africa’s highest-ranked country in the second edition of the Global Index on Responsible AI (GIRAI), ranking 38th globally with an overall score of 45.93. The report also identifies Nigeria as a global “Bright Spot” for its approach to preparing citizens for the AI era while simultaneously protecting them from the technology’s potential harms. Published by the Global Center on AI Governance, the index is one of the world’s most comprehensive evidence-based assessments of responsible AI governance, evaluating 138 countries across five pillars: Inclusion and Diversity, Ethics and Sustainability, Labour and Skills, Trust and Safety, and AI in Public Service. Read more https://nairametrics.com/2026/07/09/nigeria-tops-africa-in-global-responsible-ai-index-ranks-38th-worldwide/

ITU launches global AI identity standards to strengthen trust in autonomous agents The International Telecommunication Union (ITU), the United Nations agency for digital technologies, has launched a new global initiative aimed at developing standards for trusted digital identity and ensuring artificial intelligence (AI) agents remain accountable and trustworthy as they become increasingly autonomous. The initiative, announced during the AI for Good Global Summit on Thursday, establishes the ITU Focus Group on Trust and Identity for Humans and Agentic AI, which will develop international frameworks to govern AI systems capable of acting independently on behalf of people and organizations. Read more https://nairametrics.com/2026/07/09/itu-launches-global-ai-identity-standards-to-strengthen-trust-in-autonomous-agents/

SEC gives Market Operators two days to submit Q2 2026 Ownership, Capital Flows Returns The Securities and Exchange Commission (SEC) has directed all Capital Market Operators to submit their Q2 2026 Ownership Structure and Capital Flows Returns on or before Friday, July 10, 2026. This is according to the market regulator’s latest circular titled “Request for the Submission of Q2 2026 Ownership Structure and Capital Flows Returns” published on Wednesday, July 8. The directive covers Registrars, Brokers/Dealers, Fund Managers, and other relevant operators. The Commission published the reminder on July 8, 2026, leaving operators just two days to comply. Read more https://nairametrics.com/2026/07/09/sec-gives-market-operators-two-days-to-submit-q2-2026-ownership-capital-flows-returns/

EFCC arraigns Miyetti Allah leader Bodejo over alleged $2.33 million money laundering The Economic and Financial Crimes Commission (EFCC) has arraigned the National President of Miyetti Allah Kautal Hore, Bello Abdullahi Bodejo, before the Federal High Court in Abuja over alleged money laundering involving $2.33 million. The anti-graft agency disclosed the development in a statement published on its official X account on Thursday, July 9, 2026, stating that Bodejo was brought before Justice Inyang Ekwo on a 12-count charge bordering on alleged violations of Nigeria’s money laundering laws. Read more https://nairametrics.com/2026/07/09/efcc-arraigns-miyetti-allah-leader-bodejo-over-alleged-2-33-million-money-laundering/

PenCom plans infrastructure fund to unlock Nigeria’s $22 billion pension assets Nigeria’s National Pension Commission (PenCom) is developing plans to establish a new investment vehicle that could channel resources from the country’s $22 billion pension industry into critical infrastructure projects, as the government seeks new sources of long-term financing for roads, railways, energy and healthcare. The proposal was disclosed by PenCom spokesman Ibrahim Buwai, who said the initiative is expected to be launched later this year as the commission explores ways to mobilise pension assets for national development while protecting contributors’ savings. Read more https://nairametrics.com/2026/07/09/pencom-plans-infrastructure-fund-to-unlock-nigerias-22-billion-pension-assets/

Michael Jackson biopic crosses N800 million at Nigerian box office The Michael Jackson biopic Michael has crossed the N800 million mark at the Nigerian box office, becoming one of the highest-grossing films ever released in the country despite not being screened by Filmhouse Group, one of West Africa’s largest cinema exhibitors. According to the latest figures from the Cinema Exhibitors Association of Nigeria (CEAN), the film generated N11.98 million during the week of June 26 to July 2. Thus bringing its cumulative Nigerian box office earnings to N790.96 million. Industry data indicates the film has since surpassed the N800 million milestone. Read more https://nairametrics.com/2026/07/09/michael-jackson-biopic-crosses-n800-million-at-nigerian-box-office/

NGX Group, SEC hail S&P Watchlist Inclusion as validation of Nigeria’s market reforms Nigeria’s capital market regulators have hailed the S&P Dow Jones’ Watchlist Inclusion, saying it is a confirmation of the growing global confidence in Nigeria’s capital market, even as the Securities and Exchange Commission (SEC) reinforced its commitment to policy consistency. On Wednesday, July 8, S&P DJI added Nigeria to the Watchlist for potential upgrade from Standalone Market to Frontier Market status, citing improvements in regulatory transparency and market integrity. Read more https://nairametrics.com/2026/07/09/ngx-group-sec-hail-sp-watchlist-inclusion-as-validation-of-nigerias-market-reforms/

Nigerian equities surpass South Korea to become top-performing market in dollar terms Nigerian equities have emerged as the best-performing stock market globally in dollar terms this year, overtaking South Korea. The development was driven by weakened investor sentiment towards artificial intelligence-linked stocks and drags the Asian market into bear territory. According to data compiled by Bloomberg across 92 global stock exchanges, Nigeria’s benchmark stock index has returned 67% in dollar terms year-to-date, edging past South Korea’s Kospi index, which has gained 66%. Read more https://nairametrics.com/2026/07/09/nigerian-equities-surpass-south-korea-to-become-top-performing-market-in-dollar-terms/

Nigerian Missions in US take over visa processing following OIS disengagement The Nigeria Immigration Service (NIS) has terminated its arrangement with Online Integrated Solution (OIS Services), the operator of Nigeria’s Visa Application and Submission Centres in the United States, directing applicants to submit visa requests directly to Nigerian diplomatic missions in the country with immediate effect. The development was disclosed in a public notice issued on Thursday, July 9, 2026, by the Service Public Relations Officer, DCI Akinsola Akinlabi, on behalf of the Nigeria Immigration Service Headquarters in Abuja. Read more https://nairametrics.com/2026/07/09/nigerian-missions-in-us-take-over-visa-processing-following-ois-disengagement/

Slovakia introduces 120-day national visas, tougher work permit rules from July 15 Slovakia is set to overhaul its immigration system from July 15, 2026, with a package of reforms that extends national visa validity, gives foreign workers more time to secure new employment after losing a job, centralizes visa processing, and tightens documentation requirements for work permit applicants. The changes, announced by Slovak authorities, are aimed at streamlining immigration procedures while strengthening oversight of residence and work permit applications. Read more https://nairametrics.com/2026/07/09/slovakia-introduces-120-day-national-visas-tougher-work-permit-rules-from-july-15/

Daily Currency Exchange Rate Update: 9th of July, 2026 The naira saw mixed movements across markets today. If you're holding forex, calculate how these shifts affect your pocket, what's your gain or loss in just 24 hours? Visit www.ftm.ng for more updates.

ICYMI. BREAKFAST STORIES Senate declines motion to probe alleged fake agency’s N1.3 billion budget allocation https://nairametrics.com/2026/07/08/senate-declines-motion-to-probe-alleged-fake-agencys-n1-3-billion-budget-allocation/ NGX earnings season: MTN Nigeria, Zenith Bank lead H1 reporting in July https://nairametrics.com/2026/07/08/ngx-earnings-season-mtn-nigeria-zenith-bank-lead-h1-reporting-in-july/ S&P places Nigeria on watchlist for frontier market reclassification https://nairametrics.com/2026/07/08/sp-places-nigeria-on-watchlist-for-frontier-market-reclassification/ CBN allots N1.06 trillion at July 8 NTB auction, hikes one-year rate to 17.70% https://nairametrics.com/2026/07/08/cbn-allots-n1-06-trillion-at-july-8-ntb-auction-hikes-one-year-rate-to-17-70/ NiMet forecasts rain, thunderstorms, flood risk across Nigeria on Thursday https://nairametrics.com/2026/07/09/nimet-forecasts-rain-thunderstorms-flood-risk-across-nigeria-on-thursday/ Airtel Africa hits N5,801 as NGX surges N3.45 trillion; YTD return reclaims 55% threshold https://nairametrics.com/2026/07/09/airtel-africa-hits-n5801-as-ngx-surges-n3-45-trillion-ytd-return-reclaims-55-threshold/ ExxonMobil to invest $1 billion in Nigeria’s offshore, targets 40,000 bpd increase https://nairametrics.com/2026/07/09/exxonmobil-to-invest-1-billion-in-nigerias-offshore-targets-40000-bpd-increase/ Fitch warns climate risks could weaken Nigerian banks’ credit quality https://nairametrics.com/2026/07/09/fitch-warns-climate-risks-could-weaken-nigerian-banks-credit-quality/

NELFUND disburses N1.5 billion to three institutions, covering 6,129 students The Nigerian Education Loan Fund has announced its latest disbursement of a combined N1.5 billion to three institutions for the 2025/2026 academic session. NELFUND announced the payments on its verified X handle on Thursday, with all three schools confirming receipt of the funds and their onward disbursement to beneficiary students. Read more https://nairametrics.com/2026/07/09/nelfund-disburses-n1-5-billion-to-three-institutions-covering-6129-students/

ICYMI. LUNCH STORIES Ajaokuta Steel revival deal with Chinese firm due before end of 2026 – FG https://nairametrics.com/2026/07/08/ajaokuta-steel-revival-deal-with-chinese-firm-due-before-end-of-2026/ Why CBN’s data localization policy will hit fintechs harder than banks—SATH MD https://nairametrics.com/2026/07/08/why-cbns-data-localization-policy-will-hit-fintechs-harder-than-banks-sath-md/ Air Peace records Africa’s biggest airline seat increase in July 2026 – Report https://nairametrics.com/2026/07/08/air-peace-records-africas-biggest-airline-seat-increase-in-july-2026-report/ CBN warns against rejection of N100 Note, says it remains legal tender https://nairametrics.com/2026/07/08/cbn-warns-against-rejection-of-n100-note-says-it-remains-legal-tender/ NGX records N7.23 billion block trades as Zenith Bank dominates deals https://nairametrics.com/2026/07/08/ngx-records-n7-23-billion-block-trades-as-zenith-bank-dominates-deals/ Ebola health workers strike disrupts response as DR Congo outbreak crosses 1,700 cases https://nairametrics.com/2026/07/08/ebola-health-workers-strike-disrupts-response-as-dr-congo-outbreak-crosses-1700-cases/ Oil prices surge over 6% as Trump declares Iran peace deal ‘over’ https://nairametrics.com/2026/07/08/oil-prices-surge-over-6-as-trump-declares-iran-peace-deal-over/ PenCom targets deeper capital market play after pension assets reach N31.32 trillion https://nairametrics.com/2026/07/08/pencom-targets-deeper-capital-market-play-after-pension-assets-reach-n31-32-trillion/ Meta launches first AI image generator across WhatsApp, Instagram, Facebook https://nairametrics.com/2026/07/08/meta-launches-first-ai-image-generator-across-whatsapp-instagram-facebook/ Naira holds steady against British pound at N1,827/£1 amid FX stability https://nairametrics.com/2026/07/08/naira-holds-steady-against-british-pound-at-n1827-1-amid-fx-stability/

A falling stock isn't automatically a bargain. It could be a VALUE TRAP. This is where many investors get caught. The best opportunities don't come from buying the biggest losers. They come from finding: Strong fundamentals, Attractive valuations, Solid earnings growth and Mispriced opportunities. Because in investing, A lower price does not always mean better value. 👉 Watch the full conversation on YouTube @nairametrics.tv https://youtu.be/6hvrGPBUnus

Daily Currency Exchange Rate Update: 8th of July,2026 The naira saw mixed movements across markets today. If you’re holding forex, calculate how these shifts affect your pocket, what’s your gain or loss in just 24 hours? Visit www.ftm.ng for more updates.

ICYMI. BREAKFAST STORIES PenCom targets deeper capital market play after pension assets reach N31.32 trillion https://nairametrics.com/2026/07/08/pencom-targets-deeper-capital-market-play-after-pension-assets-reach-n31-32-trillion/ Meta launches first AI image generator across WhatsApp, Instagram, Facebook https://nairametrics.com/2026/07/08/meta-launches-first-ai-image-generator-across-whatsapp-instagram-facebook/ Xenergi launches N76 million mandatory takeover bid for Premier Paint shares https://nairametrics.com/2026/07/08/xenergi-launches-n76-million-mandatory-takeover-bid-for-premier-paint-shares/ Tinubu inaugurates committee to draft National Policing Bill, names Gbajabiamila chair https://nairametrics.com/2026/07/08/tinubu-inaugurates-committee-to-draft-national-policing-bill-names-gbajabiamila-chair/