General News
CBN Rate Cut on the Horizon as Inflation Slows to 12-Month Low

By Lukman Otunuga, Senior Research Analyst, FXTM
The latest inflation figures from the Nigerian economy are certainly good news for the Central Bank of Nigeria (CBN) and the economy as a whole.
Inflation in Africa’s largest economy dropped to its lowest in a year at 11.1% last month as food prices and services reduced in July compared to June. Further signs of inflation cooling during the third and fourth quarter of 2019 should present the CBN an opportunity to re-join the global easing bandwagon – ultimately supporting domestic economic growth. While the exact timings of the rate cut remain uncertain, it now remains a matter or when rather than if. Lower rates in Nigeria have the potential to stimulate consumption which accounts for roughly 80% of GDP.
Markets search for stability as we head into the weekend
It has been a rollercoaster trading week defined by heightened trade uncertainty, yield curve inversions and global recession fears.
The “risk off, risk on” pendulum swung back and forth as investors grappled with conflicting signals on the US-China trade front, disappointing economic data from China and Germany and depressed oil prices.
Some semblance of stability is returning to Asian markets on Friday after China hinted at more fiscal support for its economy. While European markets are set to open cautiously higher as investors closely monitor the Treasury yields, gains may be limited by the general unease and uncertainty which is shrouding financial markets.
All eyes remain on the yield curve…
History was made this week after the yield on the 30-year Treasury bond fell below 2% for the first time ever.
Market players offloaded riskier assets like a hot potato and rushed to perceived safe havens like bonds and Gold as trade tensions and global growth fears promoted risk aversion. Although treasury yields are climbing away from record lows on Friday as some tranquillity returns to markets, the movements in the bond markets are poised to remain on investors radars in the week ahead.
Dollar maintains grip on iron throne
King Dollar has appreciated against almost every single G10 currency this week excluding the British Pound and Australian Dollar.
The Dollar’s positive performance suggests that it is still viewed as a destination of safety amid trade disputes, geopolitical tensions and global growth concerns. Appetite towards the Greenback was sweetened further on Thursday after US retail sales jumped by 0.7% in July, which eased concerns about the health of the US economy. I expect the Dollar Index to push higher based on price action, as the economic calendar for the United States is void of Tier 1 economic releases on Friday.
In regards to the technical picture, the Dollar Index is bullish on the daily charts. The intraday breakout above 98.20 should encourage a move higher towards 98.40.
Commodity spotlight – Gold
Gold prices depreciated slightly on Friday morning but were headed for a third consecutive weekly gain thanks to global recession fears, uncertainty over US-China trade developments and falling US bond yields.
Gold bulls remain firmly in the driver’s seat and are set to switch into higher gear as geopolitical risk factors and lower interest rates across the globe send investors stampeding towards the precious metal. Focusing on the technical picture, Gold is heavily bullish on the weekly charts as there have been consistently higher highs and higher lows.
A weekly close above $1500 should open the doors towards $1535 and $1550, respectively.
General News
Moniepoint Commences DreamDevs Bootcamp to Transform 20 Top Engineering Talents into Industry-Ready Professionals

Following a call for applications in January 2026 and a rigorous selection process that drew over 9,000 applications from across the country, Moniepoint Inc., Africa’s leading digital financial services provider, has officially commenced the bootcamp for the second cohort of its flagship DreamDevs initiative aimed at bridging the tech talent gap in Africa by equipping recent graduates with industry-ready skills and real-world experience.

The initiative brings together 20 high-potential engineering graduates for an intensive nine-week programme designed to accelerate their development into industry-ready engineers. It will be recalled that candidates, who are recent university graduates from technology, computer science, and engineering fields were invited to showcase their foundational knowledge in HTML, CSS, and JavaScript.
The journey to the final 20 was marked by a multi-stage screening process designed to identify technical aptitude and learning potential. After the initial application review, candidates underwent an online HackerRank technical assessment. From this pool, 50 shortlisted applicants were invited to a physical code challenge, which determined the final participants selected to join the bootcamp.
“At Moniepoint, we believe that Africa’s tech talent can compete on any global stage if given the right environment. DreamDevs is our way of providing that bridge. We’ve seen the success of our first cohort, and this year we’re doubling down to not just to train, but to create a definitive pathway into full-time roles for those ready to engineer financial happiness across the continent.
DreamDevs is about building engineers who can think, solve problems, and contribute meaningfully to systems at scale. This bootcamp is where that journey begins,” said Felix Ike, Co-founder and CTO of Moniepoint Inc.
Delivered in partnership with Semicolon Africa, the bootcamp focuses on strengthening core engineering competencies through structured learning and real-world problem-solving. The curriculum is designed to move participants from foundational principles to production-grade software development, covering Java OOP foundations, data structures and algorithms, Spring Boot API development, and cloud infrastructure.
Participants will gain direct exposure to Moniepoint’s engineering environment, engaging with internal teams to understand how large-scale financial systems are built and maintained. Standout performers at the end of the nine weeks will secure six-month internship placements, with the strongest candidates eligible for full-time employment.
Wisdom Iyamu, one of the selected participants for the DreamDevs bootcamp expressed shock and appreciation.
“I was honestly shocked when I received the acceptance for the first stage. I have many friends who are equally talented and didn’t make it in, so I feel incredibly grateful and excited to be here. I actually applied because a close friend of mine, who is a huge fan of Moniepoint, convinced me to go for it. My expectation for this bootcamp is to learn exactly how to build products that scale. Whether it’s working at Moniepoint or being part of a team building the next billion-dollar idea, I want to be where high-impact engineering happens”, Iyamu noted.
DreamDevs aligns with Moniepoint’s broader vision of using technology to power the dreams of millions and engineer financial happiness across Africa. It complements the company’s existing talent development programs, including HatchDev – a collaboration with NITHub Unilag and the popular Moniepoint Women-in-Tech initiative, now in its sixth year.
The programme also sits in tandem with the federal government’s 3 Million Technical Talent (3MTT) initiative, for which Moniepoint serves as a key sponsor. By providing a specialised pathway from foundational training to employment, Moniepoint continues to invest in the people who will drive Africa’s digital economy forward while serving as the backbone of Nigeria’s small businesses and enterprises to catalyze economic prosperity.
General News
FG Asks MDAs to Halt New Policies Until Full Compliance with RIA

Federal government has directed all Ministries, Departments and Agencies (MDAs) to suspend the introduction and rollout of new policies, regulations, or major regulatory changes until full compliance with the Regulatory Impact Analysis (RIA) Framework is achieved.

The directive, issued by Princess Zahrah Mustapha Audu, director general of the Presidential Enabling Business Environment Council (PEBEC), is part of efforts to strengthen regulatory quality, ensure policy coherence, and improve the ease of doing business in Nigeria
According to the statement, the RIA Framework, which was formally implemented in January 2025, requires that all new policies or amendments introduced after the date must undergo review and approval in line with its provisions.
She noted the framework has already been circulated to MDAs by the Office of the Secretary to the Government of the Federation and is also accessible on the PEBEC website.
MDAs are therefore expected to familiarise themselves with the framework and align their policy development processes accordingly.
Audu emphasised that while the government remains committed to working collaboratively with regulatory institutions, no new reform or policy would be allowed to proceed without being backed by clear and verifiable evidence.
She explained the directive aims to prevent policy shocks that could negatively affect businesses, investors and citizens, eliminate inconsistencies and frequent policy reversals, and institutionalise evidence-based policymaking across government.
The directive also seeks to enhance transparency, improve predictability, and boost stakeholder confidence in public policies, while ensuring adequate engagement to minimise resistance prior to implementation.
Consequently, all MDAs have been instructed to suspend any planned policy rollouts that have not yet been implemented, ensure that new policy proposals are supported by comprehensive RIA and necessary approvals, and integrate the RIA process into their internal policy formulation procedures.
They are also required to undertake structured and inclusive stakeholder engagement as part of policy development to improve acceptance and implementation outcomes.
The PEBEC boss added that MDAs can access the RIA Framework through its website or seek technical support from the council’s secretariat.
She, however, noted that exceptions would only be granted in cases of urgent national interest, subject to appropriate approval.
Audu stressed that cooperation from all MDAs is crucial to building a stable, consistent and business-friendly regulatory environment capable of driving sustainable economic growth and boosting investor confidence.
General News
FG Unveils Digital Platform to Showcase Nigeria’s Culture, Tourism Destinations

The Federal Government has unveiled a new digital platform, NITOUREY, aimed at showcasing Nigeria’s rich cultural heritage and tourism destinations to global audiences.

The initiative, introduced at a press conference organised by the Nigerian Tourism Development Authority, was described as a public-private partnership designed to project Nigeria’s diverse cultural assets.
Speaking at the event on Tuesday, the Minister of Arts, Culture, Tourism and the Creative Economy, Hannatu Musawa, said the platform marked another step in repositioning Nigeria as a leading global destination for tourism, culture and creative excellence.
She explained that the digital project would harness the power of the creative economy and technology to amplify Nigeria’s cultural narratives while creating opportunities for young Nigerians, filmmakers, content creators and tourism operators.
Musawa said, “Today marks yet another significant step in our collective journey to reposition Nigeria as a leading global destination for tourism, culture and creative excellence.
“The initiative aligned with the administration’s economic diversification drive, noting that tourism had the potential to contribute significantly to national growth.
“President Bola Tinubu has a vision to use tourism as part of economic diversification and expansion, and NTDA can play a vital role in achieving that goal”.
She emphasised that NITOUREY would not only showcase destinations across the country but also create economic opportunities within the creative industry.
“Through this initiative, we are not only showcasing destinations across Nigeria but also creating opportunities for the creative industries, including filmmakers, content creators, tourism operators and young Nigerians within the creative economy,” she added.
The minister also stressed the importance of collaboration between government agencies, state governments and the private sector, noting that the platform was a PPP initiative designed to unlock the full potential of Nigeria’s tourism and creative sectors.
“This is a commendable PPP initiative that demonstrates the collaboration required to unlock the full potential of Nigeria’s tourism and creative industry,” she said.
She further assured stakeholders that the Ministry of Art, Culture, Tourism and the Creative Economy would continue to support initiatives that enhance Nigeria’s visibility, attract investment and create jobs.
In his remarks, the Director General of NTDA, Ola Awakan, described NITOUREY as a transformative platform that will redefine how Nigeria is presented to the world.
He emphasised that tourism thrives on perception, visibility, and storytelling, noting that the platform will collaborate with key institutions, including the Nigerian Film Corporation, National Film and Video Censors Board, and the National Information Technology Development Agency, to deliver high-quality content.
Awakan added that the initiative is powered by a strong public-private partnership involving TOURCLIQ Creatives Limited and JM MiSA International Limited, underscoring the importance of collaboration in unlocking the full potential of Nigeria’s tourism and creative industries.
He further revealed that NITOUREY will spotlight iconic destinations across Nigeria’s six geopolitical zones, including Zuma Rock, Yankari Resort and Safari, the Argungu Fishing Festival, Ngwo Pine Forest and Cave, Obudu Mountain Resort, and Olumo Rock, projecting them to a global audience.
The platform is expected to serve as Nigeria’s premier tourism streaming platform, projecting the country’s culture, creativity and destinations to both domestic and international audiences.
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