The number of active bank accounts in Nigeria reached a record 320 million as of March 2025, according to data released by the Nigeria Inter-Bank Settlement System (NIBSS). This milestone reflects a significant increase in financial inclusion, driven by mobile banking and fintech innovations. The Central Bank of Nigeria (CBN) has been promoting cashless policies, contributing to the surge. However, experts note that challenges such as cybersecurity risks and access to banking services in rural areas remain. The NIBSS report also highlighted a rise in electronic transactions, with a 17.7% growth in Q1 2025, totaling N284.99 trillion.
Despite persistent network glitches across various platforms in the first three months of 2025, electronic payment transactions in Nigeria reached a staggering N285 trillion. This figure reflects the growing reliance on digital payment systems for financial transactions in the country, driven by increased adoption of mobile banking, POS systems, and online transfers. The Central Bank of Nigeria and financial institutions have been working to address infrastructure challenges to improve service reliability. Industry experts attribute the high transaction volume to the cashless policy and the expanding fintech sector, though concerns remain over cybersecurity risks and transaction failures.
The Anambra State Government has issued a stern warning to individuals spreading fake news through false audio and video messages on social media platforms. The state's Commissioner for Information, Paul Nwosu, stated that such actions undermine public peace and security. The government has threatened to arrest and prosecute offenders, citing recent incidents of doctored content aimed at inciting panic among residents. Security agencies have been directed to monitor online spaces and track perpetrators. The move comes as part of broader efforts to curb misinformation in the state.
The Chairman of the Christian wing of the All Progressives Congress (APC) has reignited the controversial debate over the Muslim-Muslim ticket ahead of the 2027 general elections. The chairman argued that the party must consider religious balance in its choice of candidates to ensure inclusivity and national unity. This statement comes in the wake of criticisms following the 2023 elections, where the APC fielded a Muslim-Muslim ticket, leading to widespread discontent among some Christian communities. The debate has sparked discussions on social media and among political analysts, with opinions divided on whether religious considerations should influence political candidacy in a secular state like Nigeria.
A heated exchange between Senator Natasha Akpoti-Uduaghan and Senate President Godswill Akpabio has drawn public attention during a recent Senate plenary session. The disagreement centered on legislative priorities and representation issues. This incident was discussed alongside updates from the APC National Executive Committee (NEC) meeting. Details of the exchange have been widely circulated, with Akpabio defending his stance on procedural matters, stating, 'The Senate must maintain order to function effectively.'
President Bola Tinubu has requested additional time to verify claims of a N4 trillion debt owed to Generation Companies (GENCOs) by the federal government. Speaking during a meeting with power sector stakeholders in Abuja, Tinubu emphasized the need for a thorough audit to ensure transparency before any payments are made. 'We must ascertain the accuracy of these figures to avoid mismanagement of public funds,' the President stated. The debt, accumulated over years of unpaid subsidies and operational costs, has been a major concern for GENCOs, with many threatening to halt operations if payments are not expedited. The verification process is expected to conclude within the next three months.
The United Kingdom has removed over 100 skilled occupations from its sponsorship list, a move that could lead to the deportation of many Nigerian professionals residing in the country. The UK Home Office announced this policy change as part of efforts to control immigration and prioritize local labor. Affected sectors include healthcare, IT, and engineering, where many Nigerians have historically found employment through sponsorship visas. Immigration experts warn that thousands of Nigerians may face challenges renewing their visas or securing new employment under the revised rules. The Nigerian government has yet to issue an official response to this development.
A global climate summit held in Paris on August 13, 2025, concluded with over 50 countries pledging to reduce carbon emissions by 40% by 2035. The agreement, hailed as a significant step forward, includes commitments to phase out coal power by 2030 in participating nations. UN Secretary-General Antonio Guterres stated, 'This is a critical moment to act decisively against climate change.' However, critics argue that the pledges lack enforceable mechanisms, with developing nations requesting more financial support for green transitions. Over $10 billion was pledged for climate adaptation projects in vulnerable regions.
The Nigerian Electricity Regulatory Commission (NERC) has declared that any state government opting to reduce electricity tariffs for its citizens must bear the cost of subsidies. This directive comes amid growing debates over affordability and access to power. NERC emphasized that the financial burden of such tariff reductions cannot be shifted to Distribution Companies (Discos) and must be funded by state budgets to ensure the sustainability of the power sector. This policy aims to balance consumer relief with the operational viability of electricity providers.
As Nigeria and other African countries prioritize improving the ease of doing business, there is a pressing need to ensure that such efforts also encompass the ease of citizen participation and civil society representation. Vulnerable communities must have a voice in addressing issues that affect them directly. This approach is critical for inclusive growth and sustainable development, ensuring that economic policies do not sideline the needs of the masses.