Nurses across Nigeria are protesting poor working conditions. The National Association of Nigeria Nurses and Midwives announced the week-long strike could be extended if its demands are not met.
Friday, August 1, 2025
Video - Nurses strike hits health services in Nigeria
Nurses across Nigeria are protesting poor working conditions. The National Association of Nigeria Nurses and Midwives announced the week-long strike could be extended if its demands are not met.
Nigeria embraces stablecoins
Meanwhile, Hong Kong authorities are urging caution in stablecoin adoption as its landmark Stablecoins Ordinance takes effect. The city-state says it will only issue a handful of licenses, and that most applicants “will be disappointed.”
Nigeria’s stablecoin embrace
Speaking at the Nigeria Stablecoin Summit in Lagos, the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, backed stablecoins as disruptive financial tools.
“I stand before you as both a regulator and an advocate for responsible innovation. My message today is clear: Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he said, as reported by local outlets.
Nigerians have been the most avid stablecoin users in Africa. A June report by Yellow Card exchange revealed that nearly 26 million Nigerians have been using stablecoins, equating to 12% of the population, which ranks the country first globally for adoption. The report described Nigeria’s stablecoin adoption as “a signal of how financial innovation can thrive in response to local needs.”
The DG joined several other African leaders who have acknowledged that stablecoins have become a vital cog in the continent’s financial rails. In Kenya, the central bank revealed that one in three banks has expressed strong interest in stablecoins, while in South Africa, the financial regulators have pointed out that they expect stablecoins to become the primary form of digital asset adoption over the next five years.
Agama says that Nigerians have been using stablecoins in cross-border funds transfers and, with the naira losing over 70% of its value against the U.S. dollar in the past three years, they have become a hedge against the local currency’s depreciation.
“Across the continent, freelancers, traders, and businesses are increasingly opting for stablecoin payments to hedge against volatility, a trend significantly amplified by the naira’s fluctuations, which have driven exponential growth in demand for dollar-backed digital assets,” he stated.
Market giants USDT and USDC are the most dominant in the Nigerian market. However, Agama said, “Africa needs African solutions that reflect our market conditions, demographic realities, and development priorities.”
One of these African solutions is cNGN, Nigeria’s first homegrown regulated stablecoin. Launched by the African Stablecoin Consortium, cNGN has hit $2.5 million in transaction volume across dApps, on-chain swaps, GameFi ecosystems, and merchant payments.
CNGN recently told CoinGeek it’s eyeing expansion beyond Nigeria, deepening its liquidity, and broadening its use cases.
“Five years from today, I want to see a Nigerian stablecoin powering cross-border trade from Dakar to Dar es Salaam. I want to see global capital flowing into Lagos as the stablecoin hub of the global south. This is not just finance. This is nation-building,” Agama told the attendees.
Speaking at the Nigeria Stablecoin Summit in Lagos, the Director-General of the Securities and Exchange Commission (SEC), Emomotimi Agama, backed stablecoins as disruptive financial tools.
“I stand before you as both a regulator and an advocate for responsible innovation. My message today is clear: Nigeria is open for stablecoin business, but on terms that protect our markets and empower Nigerians,” he said, as reported by local outlets.
Nigerians have been the most avid stablecoin users in Africa. A June report by Yellow Card exchange revealed that nearly 26 million Nigerians have been using stablecoins, equating to 12% of the population, which ranks the country first globally for adoption. The report described Nigeria’s stablecoin adoption as “a signal of how financial innovation can thrive in response to local needs.”
The DG joined several other African leaders who have acknowledged that stablecoins have become a vital cog in the continent’s financial rails. In Kenya, the central bank revealed that one in three banks has expressed strong interest in stablecoins, while in South Africa, the financial regulators have pointed out that they expect stablecoins to become the primary form of digital asset adoption over the next five years.
Agama says that Nigerians have been using stablecoins in cross-border funds transfers and, with the naira losing over 70% of its value against the U.S. dollar in the past three years, they have become a hedge against the local currency’s depreciation.
“Across the continent, freelancers, traders, and businesses are increasingly opting for stablecoin payments to hedge against volatility, a trend significantly amplified by the naira’s fluctuations, which have driven exponential growth in demand for dollar-backed digital assets,” he stated.
Market giants USDT and USDC are the most dominant in the Nigerian market. However, Agama said, “Africa needs African solutions that reflect our market conditions, demographic realities, and development priorities.”
One of these African solutions is cNGN, Nigeria’s first homegrown regulated stablecoin. Launched by the African Stablecoin Consortium, cNGN has hit $2.5 million in transaction volume across dApps, on-chain swaps, GameFi ecosystems, and merchant payments.
CNGN recently told CoinGeek it’s eyeing expansion beyond Nigeria, deepening its liquidity, and broadening its use cases.
“Five years from today, I want to see a Nigerian stablecoin powering cross-border trade from Dakar to Dar es Salaam. I want to see global capital flowing into Lagos as the stablecoin hub of the global south. This is not just finance. This is nation-building,” Agama told the attendees.
HKMA: We’ll only hand out a handful of licenses
In Hong Kong, the city’s de facto central bank has called for caution amidst rising public interest in stablecoins.
Hong Kong’s Stablecoin Ordinance took effect on August 1, and some of Asia’s largest companies competed to be among the first to issue stablecoins under the new regime. However, the chief executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, now says that only a select few will receive the green light.
In his statement, Yue warned against the “growing frothiness” and “excessive exuberance” as the new regime takes effect. He says that some public companies have been putting out statements mentioning stablecoin integration to excite investors and spark a stock price rally.
“…in the initial stage, we will at most grant a handful of stablecoin issuer licences. In other words, a large number of applicants will be disappointed,” Yue warned.
While HKMA hasn’t revealed any details about the licensing process, experts opine that the big companies with extensive experience in tech and finance are most likely to beat the smaller startups to the punch. Those who have participated in the HKMA’s Stablecoin Sandbox stand an even bigger chance. They include JD.com’s (NASDAQ: JD) stablecoin subsidiary, Animoca Brands, and Standard Chartered Bank (NASDAQ: SCBFF).
While the new framework makes Hong Kong one of the world’s most attractive stablecoin hubs, it comes with risks to investors. The city has seen its fair share of fraudulent digital asset projects, the most prominent being JPEX, which sank with over $200 million in user funds.
In Hong Kong, the city’s de facto central bank has called for caution amidst rising public interest in stablecoins.
Hong Kong’s Stablecoin Ordinance took effect on August 1, and some of Asia’s largest companies competed to be among the first to issue stablecoins under the new regime. However, the chief executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, now says that only a select few will receive the green light.
In his statement, Yue warned against the “growing frothiness” and “excessive exuberance” as the new regime takes effect. He says that some public companies have been putting out statements mentioning stablecoin integration to excite investors and spark a stock price rally.
“…in the initial stage, we will at most grant a handful of stablecoin issuer licences. In other words, a large number of applicants will be disappointed,” Yue warned.
While HKMA hasn’t revealed any details about the licensing process, experts opine that the big companies with extensive experience in tech and finance are most likely to beat the smaller startups to the punch. Those who have participated in the HKMA’s Stablecoin Sandbox stand an even bigger chance. They include JD.com’s (NASDAQ: JD) stablecoin subsidiary, Animoca Brands, and Standard Chartered Bank (NASDAQ: SCBFF).
While the new framework makes Hong Kong one of the world’s most attractive stablecoin hubs, it comes with risks to investors. The city has seen its fair share of fraudulent digital asset projects, the most prominent being JPEX, which sank with over $200 million in user funds.
Thursday, July 31, 2025
Nigeria takes bold steps toward Hepatitis-free future
Abuja, The World Health Organization (WHO) has collaborated with the Government of Nigeria and hepatitis stakeholders to raise awareness and promote early diagnosis and treatment for World Hepatitis Day 2025. The global event, observed annually on 28 July, raises awareness about viral hepatitis- an inflammation of the liver that can lead to chronic liver disease and liver cancer.
Hepatitis includes five types: A, B, C, D, and E. In the WHO African Region, over 70 million people suffer from chronic hepatitis B or C, but fewer than 10% are diagnosed or treated. Nigeria, with 325,000 new infections in 2022, ranks third globally in hepatitis prevalence.
Chronic hepatitis B and C can lead to liver damage and cancer, even though they are preventable, treatable, and, in the case of hepatitis C, curable.
This year’s theme, ‘Hepatitis: Let’s Break It Down,’ calls for action to remove financial, social, and systemic barriers, including stigma, that prevent hepatitis elimination and liver cancer prevention.
For 2025 World Hepatitis Day, WHO joined the Ministry of Health and Social Welfare and its partners to mark the occasion with a ministerial press briefing at the Federal Secretariat, and launched a three-day hepatitis B screening, on the stop vaccinations for those who test negative, and linkage to treatment programme for those who test positive at the National Assembly Complex in Abuja.
The event at the National Assembly in Abuja brought together health officials, legislators, and the public to address the issue of hepatitis.
Addressing journalists at the press briefing, the Minister of Health and Social Welfare, Professor Mohammed Pate, represented by Dr Godwin Ntadom, Director Public Health Department, FMOH, reiterated Nigeria’s commitment to combating hepatitis.
He noted that the burden and cost of hepatitis treatment in the country is still very high and, as such, has a huge economic impact on the country and called for collective action in eliminating the disease.
Dr Ntadom said, “hepatitis costs Nigeria between ₦13.3 trillion and ₦17.9 trillion annually in direct and indirect costs.
He also announced, ‘Project 365,’ a nationwide campaign aimed at eliminating Hepatitis C and halting Hepatitis B transmission by 2030.
“The project will support the ongoing efforts to eliminate mother-to-child transmission of HIV, hepatitis, and STIs, alongside expanding local pharmaceutical manufacturing through funding, the establishment of the Viral Elimination Fund, tax incentives, regulatory reforms, and legislative support.
Nigeria must no longer hold the third-highest hepatitis burden globally. We have the science, we have the strategy, and we will act together, boldly and urgently, toward a hepatitis-free Nigeria, he said.
WHO’s Acting Representative in Nigeria, Dr Alex Gasasira, represented by Dr Mya Ngon, cluster lead for Universal Health Coverage (UHC) Communicable and Noncommunicable Diseases (NCDs) praised Nigeria’s triple elimination initiative for HIV, hepatitis, and STIs, and emphasized the importance of reducing treatment costs, boosting local production, and expanding screening to achieve healthcare equity.
WHO urges Nigeria and other nations to:
• Ensure hepatitis B vaccination within 24 hours of birth;
• Integrate hepatitis testing and treatment into primary healthcare services;
• Address stigma and misinformation;
• Secure sustainable domestic funding for hepatitis programs; and
• Protect the rights of individuals living with hepatitis, especially in healthcare and employment.
She reiterated WHO’s commitment to supporting Nigeria’s efforts to strengthen its health systems and expand access to affordable diagnostics, vaccines, and treatments.
A beneficiary of the screening, Fash Yommie, 53, from Abuja, shared that he took the test to know his status.
“I took the test to know my status, and I am relieved to have tested negative. I now understand the importance of hepatitis prevention. I will start taking precautionary measures, such as avoiding sharing needles and ensuring proper hygiene with food and water, to protect myself and my loved ones from infection. I encourage everyone to get tested and vaccinated, as early detection is key to preventing this disease.
"Early detection and vaccination are crucial in preventing the spread of hepatitis. Hepatitis B is transmitted through contact with infected blood or fluids, hepatitis C via blood-to-blood contact like sharing needles, and hepatitis A and E through contaminated food or water.
Nigeria has enhanced hepatitis B prevention by adding the vaccine to the national schedule, supported by WHO, Gavi, UNICEF, and partners, to vaccinate all newborns and children and reduce early transmission.
This year’s activities reflect the broader goal of integrating hepatitis services into Nigeria’s primary healthcare system, making screening and treatment more accessible to vulnerable populations.
The National Assembly event is part of WHO's ongoing collaboration with Nigeria to achieve universal health coverage and align with the 2030 Global Health Agenda. Through national and local partnerships, WHO supports Nigeria in reducing the hepatitis burden and improving public health outcomes. The three-day screening serves as a reminder that hepatitis is preventable, and everyone has a role in raising awareness and preventing its spread.
Hepatitis includes five types: A, B, C, D, and E. In the WHO African Region, over 70 million people suffer from chronic hepatitis B or C, but fewer than 10% are diagnosed or treated. Nigeria, with 325,000 new infections in 2022, ranks third globally in hepatitis prevalence.
Chronic hepatitis B and C can lead to liver damage and cancer, even though they are preventable, treatable, and, in the case of hepatitis C, curable.
This year’s theme, ‘Hepatitis: Let’s Break It Down,’ calls for action to remove financial, social, and systemic barriers, including stigma, that prevent hepatitis elimination and liver cancer prevention.
For 2025 World Hepatitis Day, WHO joined the Ministry of Health and Social Welfare and its partners to mark the occasion with a ministerial press briefing at the Federal Secretariat, and launched a three-day hepatitis B screening, on the stop vaccinations for those who test negative, and linkage to treatment programme for those who test positive at the National Assembly Complex in Abuja.
The event at the National Assembly in Abuja brought together health officials, legislators, and the public to address the issue of hepatitis.
Addressing journalists at the press briefing, the Minister of Health and Social Welfare, Professor Mohammed Pate, represented by Dr Godwin Ntadom, Director Public Health Department, FMOH, reiterated Nigeria’s commitment to combating hepatitis.
He noted that the burden and cost of hepatitis treatment in the country is still very high and, as such, has a huge economic impact on the country and called for collective action in eliminating the disease.
Dr Ntadom said, “hepatitis costs Nigeria between ₦13.3 trillion and ₦17.9 trillion annually in direct and indirect costs.
He also announced, ‘Project 365,’ a nationwide campaign aimed at eliminating Hepatitis C and halting Hepatitis B transmission by 2030.
“The project will support the ongoing efforts to eliminate mother-to-child transmission of HIV, hepatitis, and STIs, alongside expanding local pharmaceutical manufacturing through funding, the establishment of the Viral Elimination Fund, tax incentives, regulatory reforms, and legislative support.
Nigeria must no longer hold the third-highest hepatitis burden globally. We have the science, we have the strategy, and we will act together, boldly and urgently, toward a hepatitis-free Nigeria, he said.
WHO’s Acting Representative in Nigeria, Dr Alex Gasasira, represented by Dr Mya Ngon, cluster lead for Universal Health Coverage (UHC) Communicable and Noncommunicable Diseases (NCDs) praised Nigeria’s triple elimination initiative for HIV, hepatitis, and STIs, and emphasized the importance of reducing treatment costs, boosting local production, and expanding screening to achieve healthcare equity.
WHO urges Nigeria and other nations to:
• Ensure hepatitis B vaccination within 24 hours of birth;
• Integrate hepatitis testing and treatment into primary healthcare services;
• Address stigma and misinformation;
• Secure sustainable domestic funding for hepatitis programs; and
• Protect the rights of individuals living with hepatitis, especially in healthcare and employment.
She reiterated WHO’s commitment to supporting Nigeria’s efforts to strengthen its health systems and expand access to affordable diagnostics, vaccines, and treatments.
A beneficiary of the screening, Fash Yommie, 53, from Abuja, shared that he took the test to know his status.
“I took the test to know my status, and I am relieved to have tested negative. I now understand the importance of hepatitis prevention. I will start taking precautionary measures, such as avoiding sharing needles and ensuring proper hygiene with food and water, to protect myself and my loved ones from infection. I encourage everyone to get tested and vaccinated, as early detection is key to preventing this disease.
"Early detection and vaccination are crucial in preventing the spread of hepatitis. Hepatitis B is transmitted through contact with infected blood or fluids, hepatitis C via blood-to-blood contact like sharing needles, and hepatitis A and E through contaminated food or water.
Nigeria has enhanced hepatitis B prevention by adding the vaccine to the national schedule, supported by WHO, Gavi, UNICEF, and partners, to vaccinate all newborns and children and reduce early transmission.
This year’s activities reflect the broader goal of integrating hepatitis services into Nigeria’s primary healthcare system, making screening and treatment more accessible to vulnerable populations.
The National Assembly event is part of WHO's ongoing collaboration with Nigeria to achieve universal health coverage and align with the 2030 Global Health Agenda. Through national and local partnerships, WHO supports Nigeria in reducing the hepatitis burden and improving public health outcomes. The three-day screening serves as a reminder that hepatitis is preventable, and everyone has a role in raising awareness and preventing its spread.
Wednesday, July 30, 2025
Video - Nigeria surpasses half its 2025 tax target in six months
Nigeria collected $9.51 billion in tax revenue in the first half of 2025, a 43 percent increase from 2024, driven by non-oil taxes and excise duties. This signals a shift toward fiscal resilience and reduced oil dependency.
Video - Nigeria’s oil sector faces crisis amid underperformance
The Nigerian Economic Summit Group warns that aging infrastructure, oil theft, and pipeline vandalism are crippling Nigeria’s oil and gas sector, threatening vital government revenues.
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