Scams perpetrated by cyber crooks have become the fastest growing source of consumer harm as criminals have shifted their focus of the use artificial intelligence (AI) and social engineering to manipulate people into authorizing payments themselves, according to the latest mid-year 2026 Biannual Threats Report prepared by Visa. The report draws on intelligence from Visa’s…
Every transformative company begins with a simple idea. For Stabyl, that idea was born not in a boardroom, but during conversations between classmates at the University of Oxford, where discussions about the future of digital finance evolved into a bold vision for solving one of Africa’s biggest financial challenges. Between 2021 and 2022, Prince Nnamdi…
The Association of Bureaux De Change Operators of Nigeria (ABCON) has called for increased vigilance in the operation and regulation of the Nigeria financial system to protect it against terrorism financing and illicit financial flows. In a statement, ABCON condemned any form of terrorism financing in the country, and reiterated its support for all legitimate…
Manufacturers in Nigeria have lamented that commercial bank credit allocation to the sector contracted by N1.92 trillion from N8.53 trillion in December 2024 to N6.61 trillion in December 2025, representing a significant year-on-year contraction of -22.5 per cent. Acting under the aegis of the Manufacturers Association of Nigeria (MAN), the group described the situation as…
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has accused wholesalers and retailers of charging non-cost reflective prices, pushing liquefied petroleum gas (LPG) prices as high as N2,100 per kilogram despite significantly lower indicative prices issued by the regulator. The authority disclosed this in a presentation delivered by its Chief Executive Officer (CEO) Rabiu…
The Federal Airports Authority of Nigeria (FAAN) has justified its decision to increase operational tariff for airport cab operators and enforce vehicle upgrade requirements, saying the measures are necessary to improve passenger experience and maintain service standards at Nigerian airports. It also set a timeline for its vehicle upgrade policy which it said remained sacrosanct…
Smartphones shipments to Nigeria and other parts of Africa declined 12 per cent year-on-year (YoY) in the first quarter (Q1) of this year, according to Counterpoint Research’s Market Monitor Service. Although the region sees a high number of events in the period under review, such as the reopening of schools, Valentine’s Day, Mother’s Day, and…
The Nigerian Communications Commission (NCC) and the Corporate Affairs Commission (CAC) have introduced a new compliance requirement for ownership of telecom companies. The directive mandates prior approval for significant ownership changes in telcos operating in Nigeria. The agencies, in a joint statement signed by NCC Director of Public Affairs, Mrs Nnenna Ukoha and CAC Head…
The Nigeria Customs Service (NCS) and BAT Nigeria (BATN) have signed a Memorandum of Understanding (MoU) aimed at deepening collaboration in the fight against smuggling, enhancing regulatory compliance, and protecting legitimate investments. Illicit trade remains a major challenge globally, undermining government revenues, distorting markets, weakening regulatory frameworks and creating unfair competition for compliant businesses. In…
