E-Business
Nigeria’s Economy Created 1.2m Jobs in 2013 -NBS

The Nigerian economy created a total of 1.163 million jobs within the 2013 fiscal year, the National Bureau of Statistics (NBS) has said.
The jobs, according to the bureau in its latest job creation survey result released on Monday were created in the formal, informal and public sectors of the Nigerian economy.
A breakdown of the figure showed that the sum of 431,021 jobs were created in the first quarter of 2013.
For the second, the bureau said 221,054 jobs were created while the figure increased in the third and fourth quarters to 245,989 and 265,702 respectively.
Addressing journalists on Monday in Abuja on the outcome of the exercise, Dr Yemi Kale, statistician general of the Federation and chief executive of the NBS said the jobs were created as a result of business expansion, seasonal growth and the need to attract new skills.
“These reasons for employment generation point to a thriving business environment in the country and gives further credence to the economic growth indicators,” he said
Kale explained that contrary to views expressed in some quarters that jobs were not been created, majority of jobs had been created in the economy.
He said in order to feel the impact of jobs creation, the number of jobs created had to surpass significantly the jobs demanded.
He said, “Job creation is, no doubt, a pressing topic in Nigeria as stakeholders struggle with the fact that despite several years of impressive annual growth rates, unemployment and under employment remains relatively high.
“This doesn’t mean that jobs are not being created. The question is whether the jobs being created are enough to meet the demand for jobs which amount to an average of 1.8 million every year.
“Even if jobs being created matched jobs being demanded, there is still the problem of existing pool of millions unemployed.
“Thus, for any meaningful impact on jobs created, the number of jobs created had to surpass significantly the jobs demanded otherwise the impact of jobs being created will not be visibly felt and tis will lead to the understandable suggestion that no jobs are really being created.”
The NBS boss noted that the result of the job creation survey exercise conducted by the bureau revealed that the informal sector continues to lead the way in new employment generated in the economy.
For instance, he said in the second, third and fourth quarter of 2013, the informal sector contributed over 54 per cent of total employment.generated in the economy, making it the highest employer of labour in the economy.
He said, “A breakdown of the jobs created in the second quarter indicates that 80,412 jobs were created in the formal sector, 112,567 jobs in the informal sector and 28,075 in the public sector.
“The formal sector contributed 76,385 jobs to the total jobs generated in the third quarter of 2013, while the informal and public sectors generated 140,673 and 28,931 jobs respectively.
“In the fourth quarter, of the total 265,702 jobs, the informal sector contributed 101,597, while the informal and public sectors created 143,278 and 20,827 jobs respectively.”
The NBS boss gave a further analysis of the job creation survey stating for instance that the education sector recorded the highest number of 37,578 new employees in the second quarter.
This, according to him, was followed by manufacturing with 9,000 new employees.
The administrative and support service sector, he noted, however, recorded the lowest number of new employees.
E-Business
Access Holdings, Coronation Partner Tate Modern to Spotlight Nigerian Modernism

Access Holdings Plc and Coronation Group have partnered with Tate Modern to commemorate World Art Day with a virtual session highlighting the global significance of Nigerian modernism.

Access Holdings
The event, titled “In Conversation with Osei Bonsu: Inside Nigerian Modernism,” featured a virtual tour of the Nigerian Modernism exhibition and discussions on the evolution of modern art in Nigeria.
The session brought together staff members across both organisations, reflecting growing institutional engagement with arts and culture as a driver of societal development.
Speaking at the event, Chief Communications and Marketing Officer of Coronation Group, Ngozi Akinyele, emphasised the role of art in shaping identity and national development.
She said that beyond financial capital, cultural and intellectual capital are essential in defining a nation’s prosperity and inspiring dialogue.
Akinyele noted that both organisations were committed to democratising access to art, ensuring it is accessible to a wider audience rather than a select few.
The discussion also featured insights from Tate Modern Curator, Osei Bonsu, and art expert Daniel Wallis, who examined the development of Nigerian modernism and its global relevance.
Bonsu said Nigerian modernism represents an independent reimagining of global art, rooted in the country’s diverse cultural heritage and expressed through unique visual languages.
According to him, the movement challenges narrow, Eurocentric definitions of modernism and highlights the richness of African artistic expression.
The session further underscored the growing international recognition of Nigerian art, particularly through exhibitions at Tate Modern.
Participants also reflected on the visit of Bola Ahmed Tinubu to the exhibition, described as a milestone in promoting Nigeria’s cultural heritage globally.
In his closing remarks, Chief Communications Officer of Access Holdings, Amaechi Okobi, reaffirmed the organisation’s commitment to advancing African narratives on the global stage.
He said the collaboration with Tate Modern aligns with broader efforts to promote dialogue, preserve cultural identity and support the creative sector.
The event reinforced a shared commitment by Access Holdings, Coronation Group and Tate Modern to elevate African art globally and ensure Nigerian cultural narratives continue to shape international conversations.
E-Business
NDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems

Nigeria Data Protection Commission (NDPC) has issued a regulatory advisory to data controllers and processors across the country following what it described as escalating threats to Nigeria’s data security architecture.

NDPC
In a statement signed by Babatunde Bamigboye, lead of Legal, Enforcement and Regulations, the commission said its technical assessment revealed that some shadowy threat actors were engaged in coordinated operations targeting financial systems and critical digital infrastructure in Nigeria.
The commission urged public institutions to comply with the presidential directive of Bola Ahmed Tinubu, which emphasises the strategic importance of data in national development.
According to the NDPC, the President had declared that “data is the new oil,” stressing the need for Ministries, Departments and Agencies (MDAs) to rigorously capture and safeguard information in line with the Nigeria Data Protection Act, 2023.
The commission therefore advised all data controllers and processors to urgently strengthen their technical and organisational measures to protect personal data and ensure compliance with the law.
It listed key measures to include the appointment of trained and certified Data Protection Officers, implementation of comprehensive privacy policies and information security standards, as well as conducting Data Privacy Impact Assessments.
Other measures recommended by the NDPC include deployment of robust identity and access controls such as Multi-Factor Authentication, adoption of zero-trust security architecture, prompt remediation of system vulnerabilities, and continuous patch management.
The commission also emphasised the need to secure cloud infrastructure, application programming interfaces (APIs), databases and access credentials, alongside real-time monitoring, logging and threat detection systems.
Further recommendations include encryption and secure credential handling, regular vulnerability assessment and penetration testing of critical systems, as well as routine backup and resilience testing.
The NDPC warned that organisations that fail to implement appropriate data protection measures in accordance with the Nigeria Data Protection Act, 2023 risk legal liabilities.
It reiterated its commitment to providing regulatory support to organisations while ensuring the protection of personal data and strengthening institutional resilience across all sectors.
E-Business
Africa’s Forex Market in 2026: Key Trends Every Trader Should Watch

The forex market across Africa is witnessing more participants and more regulatory attention than it did just a few years ago. This growth is part of a bigger picture: Sub-Saharan Africa is expected to expand by 4.3% in 2026, while global forex turnover already hit an estimated $9.6 trillion daily in April 2025. However, there’s more to it than macroeconomic figures.

The trends reshaping the market are happening from within. Here are six worth paying close attention to.
1. Trading Has Moved to the Phone
The number of people accessing the market via mobile phones exceeds those accessing it via traditional bank systems. GSMA states that in Sub-Saharan Africa alone, there are more than 1.1 billion registered mobile money accounts.
The International Monetary Fund states that digitalisation and increased usage of the internet are changing payment systems in the Sub-Saharan Africa region.
Mobile access changes traders’ behavior. It lowers the barrier to entry and speeds up deposits and withdrawals. Therefore, brokers who can provide a quality mobile trading experience will have a huge advantage.
2. Regulators Are Watching
The market is becoming more structured and more transparent. In South Africa, the FSCA regulates market conduct for financial institutions. In Kenya, the Capital Markets Authority regulates capital markets and maintains a licensing system that includes online forex brokers.
Nigeria’s SEC has publicly warned that online retail forex trading can be subject to abuse when unregulated. It also provides tools for investors to check operators’ registrations.
As a result, in 2026, more traders are likely to favour brokers that can show clear licensing, transparent operations, and stronger investor safeguards.
3. Volatility Varies by Country
A common mistake is perceiving the African market as one entity. In reality, according to RegTech Afrika, there are 21 countries out of a total of 54 that have a chance of seeing their currencies depreciate in 2025, with some of them losing value by as much as 6% or more.
A trader watching the rand, naira, shilling, or cedi, regional headlines needs more than regional headlines. Country-level macro data, central bank moves, and the US dollar will still play a major role.
4. Cross-Border Payment Infrastructure Is Quietly Improving
Platforms like PAPSS are helping make payments across African countries faster and easier to complete in local currencies. According to official announcements of PAPSS, it has become operational in 18 countries across Africa, with its latest launch in Algeria in 2025. It has also become operational in Kenya through a partnership with KCB Group, as well as in Rwanda through a partnership with Bank of Kigali.
Step by step, Africa is becoming a more financially connected continent.
5. Execution Quality Is the New Standard
Data from the BIS shows that in April 2025, three-quarters of FX trades were intermediated by the global centers of the United Kingdom, the United States, Singapore, and Hong Kong. Therefore, the best liquidity and best prices are still linked to global conditions.
For local markets, this raises the bar. Forex traders are becoming increasingly aware that tight spreads, while important, mean little without reliable prices and execution. Brokers like JustMarkets that can bring all of these elements together are in a much stronger position than competitors.
6. Education as a Necessity
Regulatory disclosures from major global brokers illustrate how tough it is to trade without proper knowledge. According to publicly available disclosures, between 70% and 80% of retail investor accounts lose money when trading CFDs.
Forex traders who understand risk management and which financial news to follow have a better chance of surviving the market. Brokers who invest in education are more likely to be seen by traders as valuable partners rather than mere facilitators.
The Market Rewards the Prepared
Africa’s forex market in 2026 is shaped by volatility, stricter rules, and mobile-first trading. The traders who combine market knowledge with the right tools and the right broker will find real opportunity here, while those who don’t adapt will find the market increasingly unforgiving.
Telecom2 days agoMTN Suspends Data, Airtime Borrowing Service over New FCCPC Lending Rules
General News2 days agoNiRA Unveils DNSSEC to Tackle Rising Cyber Threats, Strengthen Digital Trust
E-Business2 days agoNDPC Issues Critical Advisory as Hackers Target Nigeria’s Key Digital Systems
News2 days agoNigeria Customs Deploys AI to Cover Revenue Leaks
General News2 days agoNiRA Charges Media to Drive Nationwide Adoption of .ng Domain
General News2 days agoTop 7 Reliable Virtual Cards for Running Ads in Nigeria
Telecom2 days agoNokia, Orange Partner on AI-native 6G Networks
E-Business2 days agoAfrica’s Forex Market in 2026: Key Trends Every Trader Should Watch


















