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Nigeria News (Standard)

Lagos Startups Secure $135m in May as Debt Funding Rivals Equity in Tech Sector

Venture funding rebounds but remains below yearly average, with debt now matching equity for African tech startups

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23 hours ago

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Venture funding rebounds but remains below yearly average, with debt now matching equity for African tech startups

Startups based in Lagos and across major African cities raised a total of $135 million in May 2026, as venture capital deals showed signs of recovery following months of decline. According to new figures, 37 startups secured funding through equity, debt, and grants, reflecting a notable increase from April’s 32 deals and March’s 22, though activity is still below the region’s average of 45 deals per month.

The latest report shows that May’s total outpaced the $110 million raised in April but fell short of March’s $150 million. The funding split revealed a significant shift: equity accounted for $65 million while debt financing reached $68 million, with an additional $2 million provided through grants. This near-equal distribution marks a departure from previous periods where equity dominated at about 70 percent share. Now, debt has become an important stabilising force for startups facing tight venture capital conditions.

Of the deals concluded in May, 22 startups raised funds through equity investment, seven accessed debt facilities, while eight benefited from grant support. This trend signals what stakeholders are calling the “new normal” for African tech entrepreneurship — where traditional venture capital is supplemented or replaced by alternative funding sources to maintain growth.

Year-to-date figures indicate that African startups have raised $843 million across 160 deals so far in 2026. The mix between equity and debt remains almost even, highlighting how founders are adapting to changing investor appetite and global economic pressures. Industry analysts say this diversification could help shield the continent’s innovation ecosystem from external shocks.

With deal volumes yet to return to their pre-2025 highs and funding still well below the annual monthly average of $255 million, experts advise Nigerian founders to continue exploring both equity and non-equity options. Many believe this balanced approach will be key as competition for capital intensifies across Africa’s major technology hubs.

Source: https://guardian.ng/business-services/african-startups-secure-135m-in-may-as-debt-equity-compete/

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Nigeria News (Standard)

CBN to Revise Guidelines for Financial Holding Companies in Abuja

Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates

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13 minutes ago

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June 11, 2026

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Central Bank moves to update regulatory framework, aiming to strengthen oversight of Nigeria’s financial conglomerates

The Central Bank of Nigeria (CBN) has announced plans to review the rules governing financial holding companies, signalling a fresh move to strengthen oversight of the country’s financial sector. The development was made public in Abuja on Thursday, 11 June 2026, as part of ongoing efforts by the apex bank to align regulations with evolving industry realities.

According to the CBN, the review will focus on updating existing guidelines that oversee how financial holding companies operate within Nigeria’s banking ecosystem. These companies typically control multiple subsidiaries across banking, insurance, asset management and other financial services. The new rules are expected to address operational risks and ensure that holding structures do not undermine the stability of individual subsidiaries or the wider financial system.

The move comes amid growing concerns over compliance gaps and risk management practices among some holding companies. In recent years, stakeholders have called for clearer boundaries and stricter supervisory mechanisms to prevent abuses such as regulatory arbitrage or concentration of risk. The CBN’s planned revision is seen as an attempt to address these issues before they escalate.

While specific details of the proposed changes have not yet been disclosed, industry experts expect tighter reporting requirements and improved corporate governance standards. The apex bank said it will engage with relevant stakeholders—including commercial banks and non-bank subsidiaries—before finalising the revised framework.

The CBN is expected to release a draft guideline for public input in the coming weeks. Observers say the updated rules could have significant implications for conglomerates operating under holding structures, as well as for investors seeking clarity on sector stability.

Source: https://www.premiumtimesng.com/business/business-news/887029-cbn-to-revise-rules-governing-financial-holding-companies.html

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Nigeria News (Standard)

NCAA Launches Probe Into Asaba Aircraft Roadway Landing Incident

Aviation authority begins investigation after plane lands on public road in Delta State, raises safety concerns

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22 minutes ago

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June 11, 2026

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Aviation authority begins investigation after plane lands on public road in Delta State, raises safety concerns

The Nigerian Civil Aviation Authority (NCAA) has commenced an official investigation into the unusual landing of an aircraft on a public roadway in Asaba, Delta State, on Thursday. The incident, which occurred in the early hours of the day, has sparked concern among stakeholders about air safety protocols and enforcement in the country.

According to initial reports, the aircraft made an unscheduled landing on a major road within Asaba metropolis. Eyewitnesses described seeing the plane come to a halt amid surprised motorists and pedestrians, but there were no reported injuries or casualties as at press time. NCAA officials arrived at the scene shortly after to secure the area and begin preliminary inquiries.

This incident has drawn attention to Nigeria’s aviation safety standards, particularly regarding flight operations near populated urban areas. Airspace regulation is a recurring issue in Nigeria’s aviation sector, especially given previous incidents involving runway incursions and emergency landings. The NCAA’s response is being closely watched by both industry professionals and residents who expressed concern over possible lapses that could endanger lives.

An NCAA spokesperson confirmed that a comprehensive probe is underway to determine the circumstances leading to the event. “We are treating this as a serious safety matter and will examine all relevant factors before releasing our findings,” the spokesperson said in a written statement. No opposition or external aviation experts have issued formal comments as at Thursday evening.

The outcome of this investigation is expected to inform future policy measures aimed at preventing similar occurrences. The NCAA said its final report would be made public and promised that any parties found culpable would face appropriate sanctions under Nigerian civil aviation regulations.

Source: https://www.premiumtimesng.com/business/business-news/887026-air-safety-agency-begins-probe-of-asaba-roadway-landing.html

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Nigeria News (Standard)

Tinubu to Address Nigerians Nationwide on Democracy Day, Presidency Confirms

President’s live broadcast scheduled for Friday amid public calls for reforms and remembrance of June 12 significance

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27 minutes ago

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June 11, 2026

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President’s live broadcast scheduled for Friday amid public calls for reforms and remembrance of June 12 significance

President Bola Tinubu will address the nation in a live broadcast on Friday, marking this year’s Democracy Day celebrations across Nigeria. The announcement comes as the country prepares to commemorate June 12, a day recognised for its pivotal role in Nigeria’s democratic history and a public holiday nationwide.

According to the presidency, the address will be broadcast from Abuja and is expected to focus on the state of the nation, ongoing reforms, and government’s commitment to strengthening democratic institutions. This yearly presidential speech has become tradition since June 12 was officially designated as Democracy Day in honour of the annulled 1993 elections widely considered Nigeria’s freest poll.

Democracy Day serves as a reminder of the struggles that led to civilian rule after years of military dictatorship. Many Nigerians are looking forward to President Tinubu’s message against a backdrop of economic hardship, security challenges and heightened expectations for reforms promised by his administration. Civil society groups and opposition parties have already called on government to use the occasion to recommit to electoral transparency, justice sector improvements and policies addressing poverty and youth unemployment.

While details of Tinubu’s planned remarks have not been released as at Thursday evening, sources within Aso Rock say the speech will touch on national unity and highlight progress achieved since his assumption of office. The main opposition parties—PDP and LP—have urged government to back up rhetoric with concrete actions that improve livelihoods and protect civil liberties.

The president’s speech will be aired on national television and radio stations from 7:00 am. Nigerians are expected to participate in various commemorative activities across states as part of the Democracy Day programme.

Source: https://www.premiumtimesng.com/news/more-news/887025-democracy-day-tinubu-to-address-nigerians-friday.html

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