Nigeria News (Standard)
Lagos-Based MEXC Records ₦935trn Global Trades, Expands Multi-Asset Gateway in May
Crypto platform posts record liquidity and launches 110 new tokens, as Proof of Reserves shows strong asset backing
Crypto platform posts record liquidity and launches 110 new tokens, as Proof of Reserves shows strong asset backing
MEXC, a cryptocurrency trading platform with growing presence in Lagos and across global markets, announced on Monday that it recorded a monthly trading volume of $641 billion (about ₦935 trillion at current rates) in May 2026, marking its strongest performance to date. The company said this growth followed the launch of new asset classes and transparency measures aimed at boosting investor confidence.
In its May operational update released in Lagos, MEXC reported that it ranked first worldwide for silver futures liquidity, according to TokenInsight’s Crypto Exchange Liquidity Report. The platform implemented a zero-fee trading policy which saved users $240 million (₦350 billion) in transaction charges across 949 trading pairs. During the same period, MEXC listed 110 new tokens on its spot and futures markets, with fresh listings generating $1.18 billion in trades. User participation in newly listed assets rose by 36 percent month-on-month, especially for tokens linked to real-world assets, AI infrastructure, and decentralised finance themes.
The expansion beyond crypto-native products was also highlighted by a 21 percent rise in traditional financial (TradFi) futures trading on the platform during May. Notably, U.S. stock futures volume increased by 85 percent while stock index futures surged by 134 percent compared to April figures. This development reflects growing demand among Nigerian and global users for access to multiple asset classes—including equities, indices, commodities and precious metals—within one trading environment.
MEXC’s Launchpad campaign for SPACEX(PRE), a tokenised pre-IPO opportunity tied to U.S. equities, drew over 38,000 participants who collectively subscribed more than 56 million USDT (about ₦84 billion), achieving an oversubscription rate of 15.5 times. The company said this demonstrated robust appetite for diversified investment opportunities among its user base.
On transparency and asset security, MEXC published its June Proof of Reserves report showing an average reserve ratio of 156.5 percent for major digital assets—meaning reserves exceeded user balances by a significant margin. According to the report: BTC reserves stood at 269 percent; ETH at 118 percent; USDT at 114 percent; and USDC at 125 percent coverage levels. The company also said it uses Merkle Tree cryptographic verification and partners with cybersecurity firm Hacken for monthly audits to ensure all user assets are fully backed.
Looking ahead, MEXC disclosed that its Guardian Fund—which is designed to protect user assets during volatile market cycles—is targeted to reach $500 million (₦730 billion) within two years. Wallet addresses will be published publicly so users can independently verify holdings.
Industry analysts say these results signal a shift in how exchanges compete globally: “The next phase will be defined not just by how many coins are listed but by how seamlessly platforms integrate liquidity, low fees and transparent asset protection,” said one Lagos-based fintech consultant who reviewed the announcement.
MEXC maintains that it is committed to building an all-in-one gateway for digital and traditional assets, positioning itself as a bridge between Nigeria’s fast-growing crypto community and global financial opportunities.
Nigeria News (Standard)
NSCIA Expands National Executive Council to Strengthen Muslim Representation Nationwide
Islamic council increases leadership body size, aims for broader inclusion of stakeholders across Nigeria’s six geopolitical zones
Islamic council increases leadership body size, aims for broader inclusion of stakeholders across Nigeria’s six geopolitical zones
The Nigerian Supreme Council for Islamic Affairs (NSCIA) has announced the expansion of its National Executive Council, a move aimed at deepening representation and strengthening the council’s capacity to address Muslim affairs across Nigeria. The development was made public on Monday, 5 October 2026, following a meeting of top council officials in Abuja.
According to the statement released after the meeting, the NSCIA leadership resolved to increase the number of seats on its executive body. The council said this adjustment will allow for greater input from Muslim leaders and scholars from all six geopolitical zones, reflecting the diverse interests and challenges faced by Nigeria’s Muslim community.
The decision comes at a time when many stakeholders in the Islamic community have called for more inclusive governance structures within faith-based organisations. The council noted that as Nigeria’s Muslim population continues to grow and diversify, it is critical that leadership bodies remain responsive to changing realities. The expanded executive is expected to facilitate improved consultation and coordination on religious matters affecting education, social welfare, and interfaith relations.
In its official statement, the NSCIA emphasised that “the expansion will enhance collaboration among stakeholders and ensure that voices from every region are properly represented.” While no specific figures were disclosed regarding the number of new seats or names of new appointees, the council assured members that transparency and merit would guide all selections. Attempts to reach opposition or dissenting voices within the council were unsuccessful as at press time.
The NSCIA said it will release a full list of new executive council members following its next general assembly. Observers say this move could influence policy directions within Nigeria’s wider religious landscape over the coming months.
Nigeria News (Standard)
Lagos Tenant Discovers Landlord’s Father Buried Beneath Living Room After Over a Year
Landlord’s family exhumes remains in Surulere flat, pledges to repair sitting room after tenant expresses shock
Landlord’s family exhumes remains in Surulere flat, pledges to repair sitting room after tenant expresses shock
A Lagos tenant, identified as Mr Bachelor, has revealed he lived for more than a year in a Surulere apartment without knowing his landlord’s late father was buried beneath the living room floor. The discovery was made on September 20, 2026, when members of the landlord’s family visited the property and informed the tenant of their intention to exhume the remains.
According to Mr Bachelor, who shared details of the incident on X (formerly Twitter), he was in his apartment when the landlord’s relatives arrived and disclosed that their late brother—who is also the landlord’s father—had been buried in the middle of his sitting room. “He was buried right in my living room, and I was not aware until they came around today,” he stated.
The family explained that they planned to move the body to another location they had prepared and assured Mr Bachelor that necessary repairs would be made to his sitting room after the exhumation. The tenant noted that he was the first occupant of the newly built house and had spent over a year there before learning about the burial.
The incident has raised fresh concerns among Lagos residents about transparency from landlords regarding property histories. Some social media users responding to Mr Bachelor’s post urged prospective tenants across Nigeria to conduct due diligence before moving into rental properties. Others called for clearer regulations around residential burials and disclosure by property owners.
As at press time, neither local authorities nor tenants’ rights groups have issued official statements on the matter. The landlord’s family has not provided additional comments beyond assurances of repairs. The situation highlights ongoing gaps in property regulation and tenant protection in Lagos State.
Source: https://www.pulse.ng/story/man-discovers-corpse-buried-under-living-room-2026100506463406930
Nigeria News (Standard)
INEC to Address Nigerians Nationwide as 2027 Election Countdown Reaches 100 Days
Electoral commission prepares public statement amid growing anticipation for next general polls across all states
Electoral commission prepares public statement amid growing anticipation for next general polls across all states
The Independent National Electoral Commission (INEC) has announced plans to address Nigerians nationwide as the countdown to the 2027 general elections hits the 100-day mark. The development, expected to take place across all states, comes as political parties and voters begin preparations for one of the country’s most significant democratic exercises.
According to information from INEC headquarters in Abuja, the commission will issue a formal statement to outline its readiness and call on citizens to participate actively in the electoral process. This move is seen as part of efforts to assure stakeholders of INEC’s commitment to credible and transparent polls, following widespread debates over electoral integrity in recent cycles.
The announcement is particularly significant given Nigeria’s recent history of tightly contested elections, with issues such as voter turnout, technological deployment, and security logistics taking centre stage. Many Nigerians, especially young voters, have expressed concerns about the credibility of past elections and are watching closely for signals of improvement in 2027.
While details of INEC’s planned address remain under wraps, observers expect the commission’s leadership to emphasise the importance of voter registration, collection of Permanent Voter Cards (PVCs), and adherence to election guidelines. Political analysts note that early communication from INEC could help build public confidence and encourage broader participation ahead of the polls.
With just over three months before Nigerians return to the ballot box, all eyes are on INEC’s next steps. The commission is likely to face scrutiny from both ruling and opposition parties over its preparations. As at Monday, October 5th, no official response has been issued by major political parties regarding INEC’s planned address.
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NSCIA Expands National Executive Council to Strengthen Muslim Representation Nationwide
Lagos Tenant Discovers Landlord’s Father Buried Beneath Living Room After Over a Year
INEC to Address Nigerians Nationwide as 2027 Election Countdown Reaches 100 Days
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