General
Luno Begins Crypto Staking Service in Nigeria
By Adedapo Adesanya
Cryptocurrency platform founded in Africa, Luno, has launched crypto staking in Nigeria, becoming the first operational crypto platform in the country to offer this feature.
According to a statement, the move opens up a new frontier in passive income for Nigerian users, who can now earn up to 18 per cent annually on select digital assets, directly within the Luno app.
The feature debuts with four leading proof-of-stake assets: Cosmos (ATOM), Solana (SOL), Polkadot (DOT) and NEAR Protocol (NEAR).
With these, users can begin earning rewards by simply holding their assets, without trading or taking on additional exposure. Rewards are paid out regularly, and staked assets remain accessible at all times, with no minimum amounts required and no fixed lock-up periods or hidden fees.
Luno noted that as demand grows for more stable, passive income options in the Nigerian crypto space, users have typically faced limited, often risky choices – relying on offshore platforms.
So with Luno’s introduction of a high-yield staking option, it seeks to respond directly to this gap by offering a first-of-its-kind, locally available, and compliance-led solution.
Too woo users, for the first three months, significant platform fees will be waived, increasing the rewards customers receive.
Speaking about the launch, Mr Ayotunde Alabi, CEO of Luno Nigeria said, “It has become evident over time that Nigerians are increasingly looking beyond trading to build long-term value with digital assets.
“We’ve evolved beyond the era of speculation and hoping a reward is earned. People are seeking informed, safe, and equally rewarding alternatives, and staking offers that path. It represents a new phase of crypto adoption, one rooted in sustainability and utility.
“Our aim is to support this shift with tools that are easy to use, transparent, and aligned with real financial goals, all while maintaining our high standards of safety and compliance as a licensed operator.”
The launch in Nigeria follows Luno’s earlier rollouts in South Africa and Malaysia, where it has seen strong adoption. In South Africa alone, over 150,000 customers have opened staking wallets, with more than R1.5 billion worth of crypto assets staked via the platform, further signalling the growing appetite for passive crypto products in regulated environments.
Luno added that the exchange’s model is designed to lower barriers for participation while maintaining full transparency.
“Customers retain full control over their assets, can unstake at any time, and begin earning with as little or as much crypto as they choose,” it said in a statement announcing the development on Wednesday.
This latest addition reinforces Luno’s commitment to expanding secure and practical financial tools for everyday users across Africa, while continuing to lead the way in responsible innovation within the crypto industry.
General
UK Strengthens Ties With Kano, Jigawa on Sustainable Development
By Adedapo Adesanya
The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.
The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.
The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.
According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.
In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.
In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.
Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.
Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.
These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”
General
CBN Partners NiMet to Integrate Climate Data Into Economic Planning
By Adedapo Adesanya
The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.
This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.
He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.
He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.
He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.
He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.
General
POS Operators Barred Within 200 Metres of Police Stations
By Adedapo Adesanya
The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.
This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.
The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.
The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.
The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.
Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.
The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.
“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”
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