Business

The decision is expected to be formally announced later this week, potentially clearing the uncertainty that emerged after FTSE Russell placed Nigeria’s planned reclassification under further review in June.

The NGX All-Share Index (ASI) declined by 0.17 percent, falling from 239,085.17 points at the opening to 238,682.92 points at the close. Market capitalisation also declined by N260 billion, from N154.396 trillion to N154.136 trillion.

Speaking to journalists on August 25, 2026, MTN Group CEO Ralph Mupita confirmed that Africa’s largest mobile network operator is actively exploring deposit-taking banking licences in select operating markets.

The development was disclosed by the Aviation Safety Round Table Initiative (ASRTI), which urged the Federal Government to immediately act on the recovered document and conclude the payment process.

The warning was issued by NDIC’s Head of Legal Unit, Oladipo Kushimo, during a breakout session titled “Too Big to Fail?” at the Nigerian Bar Association’s Annual General Conference in Port Harcourt.

The corporate ties between Nigeria and South Africa have long been defined by a simple, lopsided binary. Crude oil flows south, while multinational giants push north. MTN Nigeria wants to rewrite that script. Sponsoring the Nigeria-South Africa Chamber of Commerce (NSACC) Breakfast Forum at Eko Hotel on August 27, the telecom operator is shifting the bilateral conversation away from high-level trade policy and straight into local supply chains.

The company told customers on August 25 that MonieWorld was entering a transition period as Moniepoint redirected strategic resources towards financial tools for businesses across Africa. The service remains operational for now, with customers expected to receive further information about the closure timeline and any changes affecting their accounts and transactions.

According to the notice, the Federal High Court in Lagos granted Universal Insurance leave to commence proceedings against NAICOM and other respondents over what the insurer described as the “purported cancellation” of its licence and the receivership that followed.

The latest adjustment was contained in an official communication issued to customers on Tuesday by the refinery’s Group Commercial Operations.

Inflation is slowing, external reserves have climbed, and several major companies are reporting stronger profits. At the same time, borrowing remains expensive, food prices are still putting pressure on household budgets, and investors can now earn relatively high returns from fixed-income instruments.