General
NGX Group Gets Funding Support for N-Zero Programme in Nigeria
By Aduragbemi Omiyale
The Nigerian Exchange (NGX) Group has kicked off the NGX Net-Zero Programme (N-Zero) designed to support businesses with the tools, frameworks, and technical guidance required to set, validate, and achieve science-based emission reduction targets.
This initiative aligns with Nigeria’s commitment to the Paris Agreement and the global goal of limiting temperature rise to 1.5°C.
The parent body of the nation’s flagship stock exchange, the NGX Limited, implemented this campaign after securing a funding support from DEG Impulse gGmbH, a subsidiary of the German Development Finance Institution, DEG – Deutsche Investitions-und Entwicklungsgesellschaft mbH, part of KfW Bankengruppe.
It is a major step forward in NGX Group’s efforts to strengthen climate resilience and promote low-carbon development across Nigeria’s private sector. The multi-billion-naira funding was secured under DEG Impulse’s develoPPP programme, which supports innovative private sector initiatives with high development impact.
By bringing together global climate partners, including implementing partner Africa Foresight Group (AFG), NGX Group, through N-Zero, will assist companies in developing credible transition plans and carbon projects that generate verifiable carbon credits, thereby supporting economic resilience, promoting green investments, and contributing to a decarbonized future.
Business Post gathered that the NGX N-Zero Programme will run from June 2025 to April 2027 and is expected to reduce or avoid 20,000 tons of greenhouse gas emissions.
It will support at least 26 businesses in implementing environmental and social standards and provide access to carbon markets through credit registration and emissions offsetting.
This collaboration underscores NGX Group’s commitment to the United Nations Sustainable Development Goal 13 (Climate Action) and its role in advancing Nigeria’s transition to a more sustainable and inclusive economy.
“The signing of this agreement with DEG Impulse marks a significant milestone in our sustainability journey. This partnership demonstrates strong confidence in our vision to drive sustainable finance, build a climate-conscious private sector in Nigeria and champion climate action across Africa.
“Through N-Zero, we aim to translate ambition into measurable impact by reducing emissions and positioning Nigerian corporates to benefit from emerging opportunities in the global carbon market,” the chief executive of NGX Group, Mr Temi Popoola, stated.
Also, the chairman of the organisation, Mr Umaru Kwairanga, said, “This initiative represents a bold step toward positioning NGX Group at the forefront of climate leadership in Africa.
“As we activate the N-Zero Programme, we reaffirm our long-standing commitment to innovation, sustainable development, and creating long-term value for the Nigerian economy. It is our firm belief that capital markets must play a central role in delivering climate solutions, and this partnership is a model for what is possible when global institutions collaborate with local expertise.”
On his part, the Managing Director of DEG Impulse, Mr Hubertus Pleister, said, “With the support of the German Federal Ministry of Economic Cooperation and Development (BMZ), the develoPPP initiative contributes to NGX’ transformation journey by addressing climate risks and advancing sustainability through strategic and innovative collaboration – reinforcing our shared commitment to building resilient capital markets and enabling long-term impact.”
General
Alleged Wiretapping: El-Rufai to File No-Case Submission as DSS Closes Case
By Adedapo Adesanya
The Department of State Services (DSS) has closed its case against former Kaduna State Governor, Mr Nasir El-Rufai, in the ongoing alleged wiretapping trial before the Federal High Court in Abuja.
At the resumed sitting on Tuesday, prosecuting counsel, Mr Oluwole Aladedoye, informed the court that the prosecution would not be calling further witnesses in the matter, prompting the formal closure of the DSS case.
Following the development, defence counsel, Mr Paul Erokoro, told the court that the defence intends to file a no-case submission, arguing that the prosecution has failed to establish sufficient evidence against the former governor.
The defence subsequently sought two weeks to file the application, while the prosecution requested two weeks to respond.
The defence also applied for a variation of some of the bail conditions earlier granted to El-Rufai, describing them as stringent and difficult to meet.
They argued that the bail terms were too stringent, particularly the requirements for level 17 civil servants with properties in Maitama or Asokoro, as well as verification and attestation letters from the Kaduna state traditional council.
However, the prosecution opposed the request, insisting that qualified public officers who meet the conditions exist and urging the court to refuse the application.
Delivering the ruling, Justice Joyce Abdulmalik declined the request to vary the bail conditions, ruling that there are civil servants who own properties at the said location.
The court, however, adjourned to September 22 for the filing of the no-case submission and continuation of the trial.
In February, the federal government filed a three-count charge against the former governor of Kaduna State over an alleged interception of communications belonging to Nigeria’s National Security Adviser (NSA), Mr Nuhu Ribadu.
In a television interview, he confessed that he and other unnamed individuals listened to conversations from Mr Ribadu’s phone after it was tapped by a third party. While acknowledging that such interception is technically unlawful, he argued that illegal surveillance was not unusual.
However, the FG, through the secret police, filed charges against Mr El-Rufai at the Federal High Court in Abuja.
General
LSWMO Seals Lekki Peninsula I-Fitness Gym Centre
By Modupe Gbadeyanka
The I-Fitness Gym centre around Jakande Roundabout, Lekki Peninsula, Eti-Osa, Lagos, has been sealed by the Lagos State government.
The facility was closed on Tuesday, June 23, 2026, by officials of the Lagos State Wastewater Management Office (LSWMO).
The gym centre was accused of indiscriminately discharging raw sewage into public drains via a pipe, thereby causing public nuisance and environmental pollution as well as endangering human health.
Announcing the closure of the premises of the organisation, the Lagos Commissioner for Environment and Water Resources, Mr Tokunbo Wahab, reiterated the need for the public to adhere strictly to proper wastewater management practices.
He emphasised that any individual or organisation found contravening environmental regulations will be meted out with appropriate sanctions and possible prosecution in accordance with the enabling laws.
The Commissioner has come under fire lately because of the poor waste management system in the metropolis, causing the state to look dirty.
A chief of the African Democratic Congress (ADC), Mr Gbadebo Rhodes-Vivour, called for his resignation over the issue.
In a related development, Mr Wahab has clarified that the state government has given members of the National Union of Road Transport Workers (NURTW) the authority to arrest environmental violators.
In a statement, he explained that contrary to the misinformation being circulated by some bloggers and commentators, the recent engagement between the Lagos State Government and transport unions across the State is not intended to replace the statutory responsibilities of the Lagos State Environmental Sanitation Corps (LAGESC). LAGESC, in collaboration with the Lagos State Environmental and Special Offences Task Force, remains the duly empowered environmental enforcement arm of the Lagos State Ministry of the Environment and Water Resources.
“As we are all aware, several environmental challenges persist within parks, garages, and the public transportation ecosystem, including illegal trading activities and the indiscriminate disposal of refuse on road medians and within transport facilities. The State Government’s engagement with transport unions is aimed at fostering collaboration, promoting shared responsibility, and ensuring improved cleanliness and proper waste management within their respective parks and garages.
“This partnership does not in any way diminish, transfer, or replace the enforcement responsibilities of LAGESC and the Task Force. Rather, it is a complementary initiative designed to strengthen environmental compliance, sanitation standards, and stakeholder participation in maintaining a cleaner environment across the State.
“We therefore wish to reassure all Lagosians that environmental cleanliness remains a top priority of the Lagos State Government. We will continue to engage relevant stakeholders and partners in our collective effort to build a cleaner, healthier, and more sustainable Lagos,” he stated.
General
Nigeria’s Mobile Subscribers Grow 15.1 million Year-on-Year
By Adedapo Adesanya
Active mobile subscriptions in Nigeria increased by 15.1 million or 8.7 per cent year-on-year to 188.0 million in April 2026 from 172.9 million in April 2025, according to the latest data from the Nigerian Communications Commission (NCC).
On a month-on-month (MoM) basis, subscriptions grew by 2.3 million or 1.2 per cent from 185.7 million in March 2026, reflecting continued momentum in subscriber acquisition across the telecommunications sector.
The sustained growth in mobile subscriptions is largely attributable to the easing of key regulatory and operational challenges that previously constrained industry expansion.
Notably, improved compliance with SIM registration and National Identification Number (NIN) linkage requirements has facilitated the reactivation of previously deactivated SIM cards, contributing significantly to the increase in active subscriptions.
Furthermore, enhanced customer onboarding processes and more efficient SIM reactivation procedures implemented by network operators have further supported subscriber growth.
MTN Nigeria maintained its market leadership position, recording a net subscriber addition of 632,209, bringing its total to 96.4 million in April 2026, up from 95.8 million in March.
Trailing was Airtel Nigeria, which delivered the strongest growth among the major operators, adding approximately 1.0 million subscribers, bringing its customer base to 64.7 million from 63.6 million in the preceding month.
Globacom also sustained its recovery momentum, with its subscriber base expanding by 538,704 to 23.2 million from 22.6 million. Meanwhile, 9mobile (T2) recorded modest growth, increasing its subscriber base to 3.54 million from 3.48 million.
There are expectations that subscriber growth will continue as more Nigerians seek favourable rates when it comes to data and voice, while higher smartphone penetration, ongoing investments in 4G and 5G network infrastructure, and expanding broadband coverage continue.
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