The Alliance for Economic Research and Ethics has faulted the International Monetary Fund’s warning that stablecoins threaten Nigeria’s monetary sovereignty. The think tank group argued instead that the growing use of digital dollar-backed assets reflects deep economic problems within the country. In a policy brief released on Tuesday, June 16, by its chairman, Dele Oye, …
The International Monetary Fund (IMF) has warned that the rapid rise of stablecoins in Nigeria could weaken the country’s control over its monetary system. It highlighted this concern in a report on Tuesday following the release of its latest Article IV report on Nigeria, detailed in Annex VII. According to the Brettonwood financial institution, more …
African startups attracted $1.4 billion in venture capital funding in the first quarter of 2026 despite a sharp decline in deal activity. The surge came despite investors concentrating their bets on a smaller number of established companies, according to a new report by the African Private Capital Association (AVCA) released on Tuesday. The report, Venture Capital …
The Nigeria Data Protection Commission (NDPC) has announced the launch of a two-year data protection initiative supported by Meta Platforms. The initiative follows the resolution of regulatory proceedings over the company's data processing practices in Nigeria, according to the commission in a statement on Monday, June 8. The NDPC said the scheme, known as the …
The National Information Technology Development Agency (NITDA) has distanced itself from CPM fund recovery claims, warning Nigerians against further payments tied to what it suggested could be fraudulent activity. In a public disclaimer issued on Monday, NITDA said it received reports that affected users of the platform were told the system had been “hacked” and …
Nigeria’s two biggest telecom operators, MTN Nigeria and Airtel Nigeria, spent the last five years pouring billions into 4G, 5G, fibre networks and spectrum licences. The two giant telecoms companies also generated record revenues, driven increasingly by data consumption rather than traditional voice calls. However, across the same period, Nigerians continued to complain about dropped …
The National Information Technology Development Agency (NITDA) has raised fresh concerns over a dangerous artificial intelligence-powered malware known as DeepLoad. It said the cyber threat is actively targeting Nigerian businesses, government agencies, financial institutions, and individuals. NITDA issued the alert through its Computer Emergency Readiness and Response Team, CERRT.NG, and shared the advisory on its …
The Federal Government has intensified efforts to curb rising cyber threats with plans to establish a National Cybersecurity Coordination Council to protect Nigeria’s fast-growing digital economy. Minister of Communications, Innovation and Digital Economy, Bosun Tijani, who disclosed the initiative in Abuja on Wednesday, noted that it is part of a broader strategy to strengthen collaboration, …
Nigeria had been ranked among Africa’s top 10 countries on digital rights, but has dropped five places, weakening its position, according to the 2025 Londa Report released at the Digital Rights and Inclusion Forum (DRIF26) in Abidjan, Côte d’Ivoire. The report places South Africa as the leading country on digital rights for the second consecutive …
The Securities and Exchange Commission (SEC) on Tuesday launched its inaugural Regulator/Fintech Clinic to close regulatory gaps. The initiative is aimed at improving engagement with Nigeria’s fast-growing financial technology (fintech) sector and strengthening regulatory oversight. It is designed to align innovation with regulatory compliance while ensuring stronger investor protection across the country’s digital finance ecosystem. …
