Nairametrics Live Updates

Dangote reveals why London is preferred over Dubai for cement listing Dangote Cement Plc has opted to pursue a secondary listing in London instead of Dubai, with the company citing a faster and more practical listing process in the United Kingdom as it expands its global investor base. The disclosure was made by Mariya Dangote, Executive Director overseeing the group’s cement and foods businesses, who said the company had considered Dubai but concluded that listing there would take significantly longer, Bloomberg reported. Read more https://nairametrics.com/2026/07/24/dangote-reveals-why-london-is-preferred-over-dubai-for-cement-listing/

AI Kill Switch: US lawmakers propose bill to shutdown dangerous AI systematically Two US lawmakers from opposing parties have introduced a bill that would give the federal government the authority to order the immediate shutdown of artificial intelligence tools deemed to pose a threat to public safety. Republican Congressman Nathaniel Moran and Democrat Congressman Ted Lieu introduced the AI Kill Switch Act on Thursday, according to the BBC. The bill is in direct response to recent incidents involving AI models acting beyond their intended parameters. Read more https://nairametrics.com/2026/07/24/ai-kill-switch-us-lawmakers-propose-bill-to-shutdown-dangerous-ai-systems/

Naira holds steady gains against Euro at N1,557/€ mark The Nigerian naira appreciated against the major European currency on Friday, with the CBN’s latest data indicating it settled at N1557/€1, up from N1570/€1 in the past session. The EUR/NGN exchange rate peaked near N1,774/€1 in January 2026 before dropping back to the multi-month low of around N1,555/€1 The EUR/NGN has remained pinned within a very confined setup since the beginning of July (around N1561/€1–N1576.7/€1). Read more https://nairametrics.com/2026/07/24/naira-holds-steady-gains-against-euro-at-n1557-e-mark/

IATA appoints Saadia Zahidi as first female Director General The International Air Transport Association (IATA) has appointed Saadia Zahidi as its first female Director General, marking the first time a woman will lead the global airline industry’s largest trade body. The appointment was announced in a statement published on IATA’s website on Thursday. Zahidi will assume office on November 1, 2026, as the association’s ninth Director General, succeeding Willie Walsh, who led IATA through the aviation industry’s recovery from the COVID-19 pandemic. Read more https://nairametrics.com/2026/07/24/iata-appoints-saadia-zahidi-as-first-female-director-general/

ECOWAS has officially signed a milestone agreement supporting the Nigeria-Morocco Gas Pipeline in Sierra Leone. Once completed, this 6,900km pipeline will carry 30 billion cubic meters of gas annually across 13 countries and into Europe. It’s no longer just an ambitious idea—with the feasibility and engineering designs completed, the execution phase is drawing closer. Do you think this pipeline will successfully reshape West Africa's economy, or will financing challenges cause more delays? Let us know below! Follow @Nairametrics for more business updates.

NCAA threatens to suspend Royal Air Maroc operations over infractions The Nigerian Civil Aviation Authority (NCAA) has threatened to suspend Royal Air Maroc’s operations in Nigeria over persistent passenger complaints and repeated consumer protection infractions. The warning was contained in a statement issued on Thursday by the NCAA’s Director of Public Affairs and Consumer Protection, Michael Achimugu. According to the authority, the airline has continued to fall short in handling passenger complaints despite being sanctioned for similar consumer protection violations in 2025, prompting the regulator to consider stricter enforcement measures. Read more https://nairametrics.com/2026/07/24/ncaa-threatens-to-suspend-royal-air-maroc-operations-over-infractions/

FG begins training first batch of 5,000 meter installers, attracts 220,000 applications The Federal Government has flagged off training for the first batch of electricity meter installers under its Power Force programme, following the receipt of nearly 220,000 applications from young Nigerians seeking to participate in the initiative aimed at supporting the nationwide rollout of smart electricity meters. The development was disclosed on Thursday during the flag-off ceremony of the Power Force programme held at the headquarters of the National Power Training Institute of Nigeria (NAPTIN) in Abuja. Read more https://nairametrics.com/2026/07/24/fg-begins-training-first-batch-of-5000-meter-installers-attracts-220000-applications/

Reps pass Tinubu’s State Police Bill, approve recommendations therein The House of Representatives on Thursday passed the Constitution Alteration Bill for the establishment of State Police Services in Nigeria, which was transmitted to lawmakers by President Bola Tinubu earlier this month. Deputy Speaker of the House, Benjamin Kalu, moved for the consideration of the bill under the Committee on Constitution Review. The development comes barely weeks after the Senate passed a similar constitutional amendment proposal. Read more https://nairametrics.com/2026/07/24/reps-pass-tinubus-state-police-bill-approve-recommendations-therein/

ICYMI. DINNER STORIES Transcorp Group reports N75.9 billion pre-tax profit in H1 2026 https://nairametrics.com/2026/07/23/transcorp-group-reports-n75-9-billion-pre-tax-profit-in-h1-2026/ CBN: Credit to private sector rises to N83.26 trillion in June 2026 https://nairametrics.com/2026/07/23/cbn-credit-to-private-sector-rises-to-n83-26-trillion-in-june-2026/ Billionaire Mukesh Ambani’s net worth drops to $84.2 billion in 2026 https://nairametrics.com/2026/07/23/billionaire-mukesh-ambanis-net-worth-drops-to-84-2-billion-in-2026/ Nigerian equities market rebounds with N1.58 trillion gain https://nairametrics.com/2026/07/23/nigerian-equities-market-rebounds-with-n1-58-trillion-gain/ NAFDAC begins nationwide mop-up of banned sachet alcohol https://nairametrics.com/2026/07/23/nafdac-begins-nationwide-mop-up-of-banned-sachet-alcohol/ Tinubu expands Nigerian Army to 12 divisions, approves 28,000 new recruits https://nairametrics.com/2026/07/23/tinubu-expands-nigerian-army-to-12-divisions-approves-28000-new-recruits/ Airtel Africa Plc reports $360 million pre-tax profit in Q1 2026 https://nairametrics.com/2026/07/23/airtel-africa-plc-reports-360-million-pre-tax-profit-in-q1-2026/ Enugu Air runway excursion disrupts Benin flights as airport closes runway https://nairametrics.com/2026/07/23/enugu-air-runway-excursion-disrupts-benin-flights-as-airport-closes-runway/ South Africa keeps interest rate at 7% amid rising inflation, rand weakness https://nairametrics.com/2026/07/23/south-africa-keeps-interest-rate-at-7-amid-rising-inflation-rand-weakness/ No UTME required as JAMB opens registration for NCE, non-tech agriculture programmes https://nairametrics.com/2026/07/23/no-utme-required-as-jamb-opens-registration-for-nce-non-tech-agriculture-programmes/ Dangote confirms successful completion of $2.5 billion private placement https://nairametrics.com/2026/07/23/dangote-confirms-successful-completion-of-2-5-billion-private-placement/ Crude oil nears $100 as renewed Middle East conflict rattles global markets https://nairametrics.com/2026/07/23/crude-oil-nears-100-as-renewed-middle-east-conflict-rattles-global-markets/

OPay targets one billion users as fintech expands global ambitions  OPay has set a long-term target of reaching one billion users, supporting 10 million merchants and creating one million jobs, as the fintech company outlines its expansion ambitions amid growing competition in Nigeria’s digital payments sector.   The company disclosed the targets during its Media Parley held in Lagos, where its executives discussed the technology infrastructure, security systems and financial services strategy supporting its operations.  Read more https://nairametrics.com/2026/07/23/opay-targets-one-billion-users-as-fintech-expands-global-ambitions/

BUA Cement’s H1 2026 pre-tax profit surges 79% to N384.44 billion BUA Cement Plc reported its unaudited H1 2026 financial results, recording a profit before tax of N384.44 billion, representing a significant increase from N214.80 billion reported in the corresponding period of 2025. Profit after tax also rose to N324.88 billion from N180.90 billion, while earnings per share increased to N9.59 from N5.34 in H1 2025. Read more https://nairametrics.com/2026/07/23/bua-cements-h1-2026-pre-tax-profit-surges-79-to-n384-44-billion/

Bosun Tijani launches ATLAS Network to accelerate Africa’s AI language models The Federal Government on Thursday officially launched the ATLAS Network, a continental artificial intelligence initiative aimed at accelerating the development of locally relevant large language models across Africa. The Minister of Communications, Innovation and Digital Economy, Bosun Tijani, unveiled the initiative at the opening session of the 7th Ordinary Session of the African Telecommunications Union (ATU) Conference of Plenipotentiaries (CPL-26) in Abuja. Read more https://nairametrics.com/2026/07/23/bosun-tijani-launches-atlas-network-to-accelerate-africas-ai-language-models/

BREAKING🚨🚨🚨 Dangote confirms successful completion of $2.5 billion private placement Dangote Refinery has confirmed the successful completion of a $2.5 billion private placement, marking one of the largest corporate fundraising transactions by an African company. The company announced the development on Thursday, describing the transaction as a significant milestone in its long-term growth strategy and efforts to strengthen its capital base. Read more https://nairametrics.com/2026/07/23/breaking-dangote-confirms-successful-completion-of-2-5-billion-private-placement/

Bank of Ghana warns traders against rejecting cedi coins The Bank of Ghana (BoG) has warned traders, transport operators, businesses and the general public against rejecting cedi coins during commercial transactions, reminding them that all coins issued by the central bank remain legal tender and must be accepted across the country. The warning was contained in a public notice issued by the Bank of Ghana on July 22, 2026, following growing concerns over the widespread refusal to accept several coin denominations in payment for goods and services. Read more https://nairametrics.com/2026/07/23/bank-of-ghana-warns-traders-against-rejecting-cedi-coins/

Ikeja Hotel Plc reports N6.12 billion pre-tax profit in H1 2026 Ikeja Hotel Plc, in its unaudited H1 2026 results for the period ended June 2026, reported a profit before tax of N6.12 billion, representing a 31.03% increase from N4.67 billion recorded in H1 2025. Profit after tax stood at N4.06 billion, up 30.5% from N3.11 billion in the prior-year period, while earnings per share increased to 188 kobo from 144 kobo. Read more https://nairametrics.com/2026/07/23/ikeja-hotel-plc-reports-n6-12-billion-pre-tax-profit-in-h1-2026/

Cornerstone Insurance shareholders approve N5.09 billion dividend at 34th AGM Shareholders of Cornerstone Insurance Plc have approved a total dividend payout of N5.09 billion for the financial year ended December 31, 2025. The approval was granted at the company’s 34th Annual General Meeting (AGM), held at the Shell Hall of the MUSON Centre in Onikan, Lagos. The resolution was disclosed in a notice dated July 21, 2026, and signed by the company secretary, PAC Solicitors. Read more https://nairametrics.com/2026/07/23/cornerstone-insurance-shareholders-approve-n5-09-billion-dividend-at-34th-agm/

AI will not trigger job apocalypse despite wave of tech layoffs – Adecco Artificial intelligence will not trigger a collapse in global employment despite growing fears that the technology will displace large numbers of workers, the world’s largest staffing company, Adecco, has said. Adecco Group CEO Denis Machuel made the assertion on Thursday, according to Reuters, as the Zurich-based firm released a study on AI’s impact on the labour market. Read more https://nairametrics.com/2026/07/23/ai-will-not-trigger-job-apocalypse-despite-wave-of-tech-layoffs-adecco/

First HoldCo projects N1.2 trillion profits in 2026 First HoldCo Plc, Nigeria’s most valuable banking group by market capitalisation, says it expects profit before tax to exceed N1.2 trillion ($876 million) for the full year 2026, as its recapitalisation drive and a clean-up of legacy bad loans begin to pay off. Olusegun Alebiosu, Chief Executive Officer of FirstBank, disclosed the projection in an interview with Bloomberg. The First HoldCo boss tied his improved outlook to fresh capital deployed from the Group’s ongoing recapitalisation programme, tighter cost control, and stronger recoveries from its non-performing loan book. Read more https://nairametrics.com/2026/07/23/first-holdco-projects-n1-2-trillion-profits-in-2026/

Daily Currency Exchange Rate Update: 23rd 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.

Sunil Taldar: Why Airtel Mobile Money will be listed in London Airtel Africa has confirmed that London will be the preferred listing venue for its Airtel Money business, saying the move will provide access to a broad international investor base as the company seeks to unlock the long-term value of one of Africa’s largest fintech platforms. The announcement was made on Thursday by Airtel Africa Chief Executive Officer, Sunil Taldar, alongside the company’s latest financial results for the quarter ended June 30, 2026. Read more https://nairametrics.com/2026/07/23/sunil-taldar-why-airtel-mobile-money-will-be-listed-in-london/