Telcos and banks have settled: For years, telecom operators and banks were locked in a dispute over unpaid charges for USSD services used for mobile banking transactions. At its peak, the exposure approached ₦300 billion, creating uncertainty across both telecom and financial services. Bring out the champagne! That debt has now been cleared.

Forex stability positive: Telecom operators earn largely in naira but pay for equipment, bandwidth, and software in foreign currency. During the past three years of forex scarcity, that mismatch created significant financial stress, forcing companies to defer capital expenditure and accumulate foreign obligations. Improved FX liquidity has begun easing that pressure.

The law is on their side: regulators approved long-awaited tariff adjustments in 2026; the first major pricing review in 13 years. For investors, pricing reform and regulatory responsiveness signal a more predictable operating environment.

⛵Nigeria’s currency is enjoying a rare stretch of smooth sailing: The naira is steady, due mostly to the stronger foreign exchange inflows and continued dollar sales by the central bank to Bureau de Change agents. On the official market, the currency traded at ₦1,344 to the dollar on Thursday, the 19th of February, strengthening from ₦1,357 a week earlier, while on the parallel market it changed hands at ₦1,385. The narrowing gap between the two rates suggests pressure in the informal market is easing (since the CBN is willing to give, there’s no need for any speculative hoarding, softening the tug-of-war between demand and supply). Traders say the combination of improved FX supply and targeted interventions is helping to ease off the parallel market premium, and if those flows remain steady, the naira could hold firm in the coming days. We know it's giving “celebrate small wins”, but in a market known for its volatility, even a modest stretch of stability feels worth celebrating.

📈 Debt is homegrown now: Nigeria’s total public debt rose to $103.94 billion (about ₦153.29 trillion; ₦1,474.85 = $1) as of September 30, 2025, according to the latest figures from the Debt Management Office. Domestic debt now makes up the larger share of the country’s exposure, standing at $55.47 billion (₦81.82 trillion), 53.37% of the total, while external debt accounts for $48.46 billion (₦71.48 trillion). Within the domestic portfolio, FGN bonds dominate at roughly ₦61.9 trillion (80% of domestic debt), alongside ₦12.68 trillion in Treasury Bills and ₦1.29 trillion in Sukuk bonds, a clear sign of the government’s continued reliance on local borrowing through banks, pension funds, and other investors. By tier, the Federal Government is responsible for $52.76 billion (₦77.81 trillion), over half of total debt, while states and the FCT account for $2.71 billion (₦4.00 trillion). The heavier domestic share means the debt is less exposed to exchange rate swings and gives the FG more control, but it also puts ordinary people, like pensioners, at risk. In a country where pensions are often “borrowed” and sometimes only paid by force, this is the kind of debt story that hits closer to home.

🥳 Risevest is officially “above board”: After months of regulatory back-and-forth, Nigerian fintech startup Risevest has secured a Fund and Portfolio Manager licence from the Securities and Exchange Commission (SEC) through its subsidiary RV Fund Management Limited, bringing its investment operations under official oversight and ending a long spell of uncertainty. The milestone comes after the SEC warned Nigerians in early 2025 against investing on the platform due to licensing concerns and months of rigorous review by the regulator. At the height of the dispute, Risevest kept users’ funds secure under a trusteeship arrangement with Meristem Trustees Limited and leaned on its 2023 acquisition of Chaka, which already had a valid trading licence. With the new SEC nod, Risevest now joins other licensed fintechs like Bamboo and Trove, positioning itself to tap into Nigeria’s booming retail investment market: investor trades jumped 88% month-on-month to ₦516.5 billion ($384 million) in July 2025.

Listen: The Archivi.ng documents how the ill treatment of a sick old woman in a colonial hospital in Lagos leads to a tragic end and incites public outrage and advocacy, laying the foundations of Nigeria’s modern healthcare system. History in 20 minutes

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