E-Financial
US, Eurozone Exhibit Pool of Mixed Data- ForexTime
ForexTime in its weekly report released on Monday said that the US proclaimed mixed economic news during the course of last week, some areas of the economy showing an onward and upward move and some lagging slightly behind.
According to data released on Tuesday, September 24th, the Consumer Confidence for September fell to 79.7 from August’s figure of 81.8, revealing that US consumers are not entirely confident about the progress of the economy and still have some doubts and reservations.
The release of Durable Goods Orders followed on the 25th, ForexTime continues, with a minute yet encouraging increase of 0.1%, backed by growing vehicle orders. The particular figure came under scrutiny by economists however because it excluded transportation, which constitutes a big part of durable goods orders and which in fact declined by 0.1%.
The report continues: “On the stronger side of events, the annualized GDP came in at 2.5%, a significant increase from the previous 1.1% and much in line with expectations of a 2.6% rise. Initial jobless claims further dropped from 310K to 305K, far better than the predicted 325K and a boost to the US dollar. Pending Home Sales for August also proved positive for the dollar, with a 5.8% rise.
“This week, the market is anticipating the ISM Manufacturing PMI on Tuesday, October 1st, which is expected to rise slightly to 55.8. Thursday October 3rd holds in store Fed Reserve Bernanke’s speech, which could potentially cause major volatility in the market, and Friday the 4th will reveal the month’s most influential data, including Non-farm Payrolls which are estimated at 179K and the September Unemployment Rate which is expected to remain at 7.3%.
“The German federal election last Sunday was perhaps the highlight of the month in the eurozone, with Angela Merkel being re-elected with a dynamic 42% of the public behind her. Responsibility thus remains in Chancellor Merkel’s hands to strike coalitions with strategic allies in order to keep investor faith alight in the eurozone.
“On Friday the 25th of September, the Harmonized Index of Consumer Prices for September was released, unchanged from August and in line with expectations at 1.6%. The Consumer Price Index for September disappointed, up by only 1.4% which was short of expectations of a 1.5% rise.
“The remainder of the data released in the eurozone was very mixed, with the Markit Manufacturing PMI and the Consumer Confidence disappointing at 51.1 and -14.9 respectively, but the Markit PMI Composite and the Economic Sentiment Indicator both above expectations at 52.1 and 96.9 respectively. ECB President Mario Draghi spoke to the public twice during the last week, the main point delivered in both his speeches being that the European economy is showing a slow recovery. The most important fundamental news from the Eurozone this week are the ECB interest rate decision and the ECB Monetary Policy statement and press conference on Wednesday, October 2nd.
“Data in the UK last week consisted of a better than expected Gfk Consumer Confidence, which hit a 6 year high by rising to -10; 3 points higher than the previous month and the highest figure since November 2007. The CBI Distributive Trades Survey – Realized also grew unexpectedly in September despite forecasts of a downward move, rising to 34 from 27.
“On the downside, the annual GDP growth disappointed expectations of 1.5%, with a revised outcome of 1.3% for Q2, sowing the seed of doubt about whether the UK economy will continue at the pace of recovery it has enjoyed so far. This week the UK is expecting the PMI Construction on October 2nd, with a small increase to 60.1 anticipated.
“The biggest news to come out of Japan for the week that passed were the news on the Overall Consumer Price Index, which rose 0.9% in comparison to the 0.7% recorded in July, and the Core Consumer Price Index, which rose to 0.8% from the previous year. Both these figures were a positive indicator for the JPY because a higher CPI signifies higher inflation, which in this case is positive for a heavily reliant on exports Japan”.
The end of this week will see the Bank of Japan interest rate decided, with no expectations for any drastic change seeing as the 0.1% rate is beneficial for the Japanese monetary policy which aims to keep the JPY weak to boost exports.
Mastercard and TeamApt Ltd., a subsidiary of Moniepoint Inc. and a provider of financial infrastructure and payment solutions, have entered a strategic collaboration to strengthen digital payment capabilities for businesses and financial institutions across Africa.
As part of this collaboration, TeamApt will operate directly on Mastercard’s global payments network as a non-bank acquirer, enhancing its ability to onboard credible and licensed entities to deliver seamless payment acceptance, transaction processing and acquiring services. This will further expand its card acceptance infrastructure, allowing more merchants to accept Mastercard payments across in-store, online and mobile channels.
The collaboration integrates TeamApt’s switching infrastructure with Mastercard’s network to facilitate secure, high-volume transactions across online and in-store channels. With Nigeria being home to more than 40 million micro, small, and medium-sized enterprises (MSMEs), and small businesses identifying digital solutions as vital to scaling, according to Mastercard’s 2026 SME Confidence Index, expanding payment acceptance remains an important opportunity for growth.
By combining TeamApt’s deep local market expertise with Mastercard’s global scale, businesses and individuals will benefit from more reliable transactions, stronger security and faster, safer and more accessible digital payment experiences.
“Expanding digital payment acceptance is one of the fastest ways to support small businesses across Africa to compete, grow, and reach more customers. By working with TeamApt, we are equipping MSMEs and informal sector businesses in Nigeria with robust, secure infrastructure to seamlessly process transactions across multiple channels. This collaboration brings more businesses into the digital economy, unlocking vital new opportunities for growth, credit access, and cross-border trade,” said Folasade Femi-Lawal, country manager, West Africa at Mastercard
“This collaboration with Mastercard represents an important step forward in our commitment to removing barriers within the payments ecosystem. For years, TeamApt has focused on building infrastructure that helps financial institutions and businesses grow with confidence. By working closely with Mastercard, we are extending those capabilities, enabling businesses to accept payments more seamlessly and giving users the freedom to transact securely both locally and internationally,” said Dennis Ajalie, Chief Executive Officer of TeamApt.
The collaboration also delivers international value, enabling Mastercard cards supported by TeamApt’s infrastructure to be used across millions of merchant locations worldwide. Customers gain the convenience of secure global payments, while merchants can more easily serve both local and international customers.
A Central Bank of Nigeria (CBN)-licensed switching and processing company, TeamApt has, for over a decade, built and operated critical financial infrastructure that powers banks, fintechs and other institutions. The company’s technology supports secure and reliable transaction processing across multiple payment channels, enabling businesses and consumers to participate more easily in the digital economy.
This collaboration further underscores the strength of Moniepoint’s ecosystem. With operations and agent coverage across all 774 local government areas in Nigeria, Moniepoint has established one of the nation’s most extensive financial services networks, positioning the group to drive meaningful scale and adoption of digital payment solutions.
Securities and Exchange Commission (SEC) has directed capital market operators to immediately freeze the assets of six individuals and three entities designated as terrorism financiers by the Nigeria Sanctions Committee.
The directive was contained in a circular signed by the SEC management on June 26, 2026, and published on the commission’s website on Wednesday.
The SEC said the Nigeria Sanctions Committee designated the individuals and entities under the Terrorism Prevention and Prohibition Act (TPPA), 2022, and subsequently added them to the Nigeria Sanctions List.
The designated individuals are Babangida Muhammed Adamu Hammajam, Abdullahi Umar Usman, Ibrahim Abubakar, Adamu Chiroma, Muktar Muhammad Adamu and Yakubu Ogirima Ibrahim.
The three entities are Nine to Nine BDC Ltd, Generation Currency BDC Ltd and Abbal Bako & Sons Bureau de Change.
The commission directed all capital market-regulated entities to immediately identify and freeze, without prior notice, all funds, assets and other economic resources belonging to the designated individuals and entities.
“Immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources in their possession, belonging to the designated individuals and entities and report same to the Secretariat of the Nigeria Sanctions Committee,” the commission said.
The SEC also directed operators to report all frozen assets and other actions taken in compliance with the sanctions, including attempted transactions involving the designated individuals and entities.
The commission further instructed capital market operators to file suspicious transaction reports with the Nigerian Financial Intelligence Unit (NFIU) for analysis.
Operators were specifically directed to report “all cases of name matching in financial transactions prior to or after receipt of this Sanctions List” as suspicious transaction reports to the NFIU.
The commission prohibited capital market operators from dealing with the designated individuals and entities and ordered them to maintain continuous monitoring of transactions involving them.
“Take Note that at all times, any unusual or suspicious transactions MUST be promptly reported to the Nigerian Financial Intelligence Unit (NFIU),” the SEC said.
The directive takes immediate effect.
The commission warned that failure to comply with the directive would constitute a violation of the Investments and Securities Act, 2025, as well as its Anti-Money Laundering and Countering the Financing of Terrorism Rules and Regulations.
“Such violation would attract appropriate regulatory sanctions, including fines, suspension of operations, or revocation of registration,” the SEC said.
The commission said Hammajam was listed on June 18 for alleged involvement in terrorism financing and support for the Islamic State West Africa Province (ISWAP).
It said Usman was designated for allegedly providing material support to a designated terrorist organisation through repeated financial transactions, while Ibrahim was listed over alleged involvement in terrorism financing and membership of ISWAP.
According to the SEC, Chiroma was allegedly involved in terrorism financing through the use of bureau de change and related corporate entities to facilitate the movement of funds linked to terrorist activities.
The commission said Adamu was listed on June 15 for allegedly providing financial support and facilitating transactions linked to the financing network of the ISWAP Okene cell.
Ogirima Ibrahim, according to the SEC, was listed on June 18 for allegedly providing material and financial support to the ISWAP Kogi cell.
The three bureau de change companies were also listed on June 15 over their alleged involvement in facilitating or channelling funds connected to the ISWAP Okene financing network.
The SEC said the directive formed part of broader measures by Nigerian and international authorities to disrupt suspected terrorism-financing networks.
On June 23, the United States announced sanctions against three individuals and six entities allegedly linked to Islamic State financing, including three bureau de change operators.
Two days later, the Central Bank of Nigeria also directed banks to freeze accounts belonging to customers linked to terrorism financing.
The latest SEC directive reinforces the regulatory focus on preventing Nigeria’s capital market and financial system from being exploited to finance terrorism and other illicit activities.
Securities and Exchange Commission (SEC) has issued an urgent directive requiring all capital market-regulated entities (CMREs) to immediately subscribe to Nigeria’s Sanctions (NigSac) Alerts system.
Effective immediately, failure to comply with this, or other AML/CFT regulations, may result in severe fines, suspension of operations, or revocation of registration.
This follows fresh designations by both local and international authorities of individuals and Bureau de Change operators for alleged direct involvement in terrorism financing and material support to the Islamic State West Africa Province (ISWAP).
The directive, according to three circulars issued by the apex capital market regulator, requires a mandatory compliance measure with threats of fines, operational suspension, or outright registration revocation for non-compliance.
The directive, pursuant to the implementation of Financial Action Task Force (FATF) statements on high-risk jurisdictions, signals an escalation in Nigeria’s anti-money laundering and counter-terrorism financing regime.
The SEC’s broader circular implementing FATF high-risk jurisdiction statements reflects Nigeria’s heightened exposure to international scrutiny. SEC, in line with directives from Central Bank of Nigeria (CBN), now requires CMREs to terminate all correspondent banking relationships with listed high-risk jurisdictions, business entities and individuals.
“In line with the provisions of the Terrorism Prevention and Prohibition Act (TPPA), 2022, the Nigeria Sanctions Committee (NSC) has designated six (6) Individuals and three (3) Entities as terrorist financiers and subsequently added them to the Nigeria Sanctions List,” SEC stated in circular to all market operators.
The circular mandated all capital market regulated entities and individuals to do the following:
“Immediately, identify and freeze, without prior notice, all funds, assets, and any other economic resources belonging to the designated persons and entities in their possession and report same to the Secretariat of the Nigeria Sanctions Committee;
“Report to the Secretariat of the Nigeria Sanctions Committee any assets frozen or actions taken in compliance with the designation, including attempted transactions;
“Immediately file a suspicious transactions report to the Nigerian Financial Intelligence Unit (NFIU) for further analysis on the financial activities;
“Report as a suspicious transactions report to the NFIU, all cases of name matching in financial transactions prior to or after receipt of this Sanctions List;
“Subsequently prohibit dealings with the designated persons and entities; and continue to check for transactions relating to the designated persons and entities and report findings to the Nigeria Sanctions Committee through [email protected]”, SEC stated.
“Take Note that at all times, any unusual or suspicious transactions shall be promptly reported to the NFIU,” SEC warned.
According to the capital market apex regulator, the circular takes immediate effect and failure to comply with the directives constitutes a violation of the Investments and Securities Act, 2025, and the SEC AML/CFT Rules and Regulations and such failure would attract appropriate regulatory sanctions, including fines, suspension of operations, or revocation of registration.
The directive implies that capital market operators should immediately audit their AML/CFT technology stacks to ensure NigSac Alerts subscription and automated flagging capability.
CMREs are required to file suspicious transactions reports with the Nigerian Financial Intelligence Unit (NFIU) for any name matching with designated individuals and entities, whether such matches occur pre- or post-transaction.
The obligation extends to reporting all funds frozen and actions taken in compliance with designations to the NSC Secretariat via [email protected].
The designations also create secondary compliance obligations: CMREs must now maintain watchlists that incorporate designations from both the NSC and US Treasury, as regulatory expectations implicitly track international sanctions coordination.
For institutional investors and fund managers, this translates to enhanced due diligence on counterparty relationships, particularly where transactions flow through informal financial infrastructure or jurisdictions flagged under FATF increased monitoring status.
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