Lagos Retirees Threaten 'Mother of All Protests' Over Unpaid Pension Enhancement
The Nigeria Union of Pensioners Contributory Pension Scheme (NUPCPS), Lagos State Council, gave Governor Babajide Sanwo-Olu an ultimatum to credit pensioners’ accounts with a long-awaited pension enhancement and wage award or face mass protest, after a template submitted since January 2026 remained unimplemented. The Lagos State Pension Commission (LASPEC) confirmed it had approved engagement of an actuary but had yet to give a payment timeline.
PenCom Assures Lagos Retirees of Plans to Resolve Pension Increase Concerns
PenCom said it would address concerns raised by Contributory Pension Scheme (CPS) retirees in Lagos State over delayed pension increases and wage awards, pledging to continue working with the Lagos State Government, LASPEC, PFAs and pensioners’ representatives toward a transparent and sustainable resolution, though no firm timeline was given.
N17trn Pension Funds Parked in FG Securities, PenCom Raises Alarm
Pension Fund Administrators have channelled about N17.1 trillion of pension savings into Federal Government securities, representing 58.07 per cent of the pension industry’s N29.5 trillion Net Asset Value as of Q1 2026. PenCom warned that such concentration limits the industry’s ability to deliver inflation-beating returns and is pushing PFAs toward greater diversification into equities, mutual funds, private equity and real estate.
CBN Mops Up N4.72trn in Two Days as Investors Chase Near-20% OMO Yields
The Central Bank of Nigeria raised N4.72 trillion through two days of Open Market Operations auctions in late August, more than doubling its initial N2 trillion target, after investors submitted N8.62 trillion in bids chasing yields of nearly 20 per cent, as the apex bank continues its aggressive liquidity mop-up to ease pressure on the naira.
Nigeria's Economy Grows 4.43% in Q2'26, Fastest Pace in Five Years
Nigeria’s real GDP expanded by 4.43 per cent year-on-year in Q2 2026, marking the strongest quarterly growth in five years, according to the National Bureau of Statistics. Growth was broad-based and led by Arts, Entertainment and Recreation and Information and Communication, with the non-oil sector accounting for 95.84 per cent of real GDP.
NGX Gains N1.91trn as Access Holdings, ETI Lead Market Rally
The Nigerian Exchange added N1.91 trillion in market capitalisation as bargain-hunting in banking stocks lifted the All-Share Index, with Access Holdings and Ecobank Transnational Incorporated among the top drivers, extending a broadly positive run for equities as investors rotate into undervalued banking and insurance names.
CBN's Composite PMI Hits 52.7 as Business Conditions Improve for Third Straight Month
Nigeria’s economic activity extended its recovery for a third consecutive month in August, with the CBN’s composite Purchasing Managers’ Index rising to 52.7 from 51.1 in July. Agriculture extended a 25-month unbroken expansion, services grew for a second straight month, and industry returned to growth after four months of contraction, though the industrial rebound remains fragile.
Banks' Borrowing from CBN Standing Lending Facility Drops 89% to N126bn
Deposit money banks’ borrowing from the CBN’s Standing Lending Facility fell by 89 per cent to N126 billion in August 2026, down from N1.19 trillion in July, reflecting significantly improved liquidity conditions across the banking system following the CBN’s recent OMO mop-ups.
Afreximbank's H1 Profit Jumps 30% to $535m as Lending Hits $35.4bn
The African Export-Import Bank recorded a 30 per cent rise in net income to $534.7 million in H1 2026, driven by higher lending, interest income and improved asset quality. Net loans and advances grew 5.7 per cent to $35.4 billion, and the bank’s non-performing loan ratio improved to 2.20 per cent, following its largest-ever $1.5 billion bond issuance in July.
Standard Bank Posts Record H1 2026 Earnings, 19.8% Return on Equity
Standard Bank Group delivered record first-half 2026 earnings, with headline earnings per share up 10 per cent to 1,610 cents and return on equity of 19.8 per cent, powered by growth across South Africa, its wider Africa Regions business and offshore operations, with management citing Sub-Saharan Africa’s status as the world’s fastest-growing major region.
IMF Warns Stablecoins Cannot Replace Fiscal Discipline as Global Debt Risks Mount
The International Monetary Fund cautioned that stablecoins, despite their rapid growth, cannot substitute for sound fiscal management as government debt levels continue to climb worldwide, warning policymakers against viewing digital currency innovation as a shortcut around budgetary discipline and debt sustainability.