Archived edition · 20:46 Lagos
Thursday 3 September
- New articles analysed in today’s runs
- 34
- High-risk articles today
- 2
- Board appointments today
- 5
- Contract awards today
- 4
Key Developments
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Corporate Exodus
Uber is reportedly exiting the Nigerian market, triggering warnings to competitors Bolt and InDrive and sparking political debate over the business environment ([theeagleonline.com.ng](https://news.google.com/rss/articles/CBMihwFBVV95cUxPb3RMYzNSd05SN19xbnJWMnIzNVRWa015MUt4ck1DbG80X1UwOVRGQVdvTGlaNE1GZkx2S2pDRUloQkFyMGlSMUh4TE91dUpuWVRHLVdCckdENWRyaUxkZU1JcUg5dGJ3M3NabVB5ek8zQUdHZnBCU18yMGg3TzNRTHFwbTBIX1E?oc=5), [Vanguard News](https://news.google.com/rss/articles/CBMiqgFBVV95cUxPRGl3ZXdOQ1pPTllBUWgxUkJmVDFCbFF6TFVONzVwS3NLaTNVdjlSNzNldUtta00wMTMwVjZFQUU5UVhaWXdaNlNmdHQ3RHhxYmJoZC1rNEFpT1Q0by1OQ09RU0VwVXZza0NFaFAyM2kwbWhCTUFjMERqZHlsUDNiLV82OURLWWFQbzNQXzBob3Q3QkRzeUtQZ0hNd0VGOG5EV3p4cHNZVWlwZ9IBrwFBVV95cUxQLU0xa3hzaUt2eml6blFhTXROc3R5Y0pqT3A2QWhGUWMzT3N1MXZ6WV81R2FkUjFPMHZsS1AtMkpxQ3lybU1ocGRrVWlfbGdQcHFJLWRjbDEzZ2NwdklISGlfc1JlSkxReWctcE1JLW1JV1prWjdFeXQ2V0htbngxZUpINlctQzh3R29VN3B2U3I2NHpsX1cteGlBMWJkeUxnNkhoYU1fREZfaWlzdERj?oc=5)).
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Index Inclusion
FTSE Russell has added Dangote Cement, MTN Nigeria, and First HoldCo to its Frontier Index Series, increasing international investor visibility ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMi7gFBVV95cUxQTWNpLTdCOE91NmlsWkQxSnhiTzY2V29sc0J2eGV5bjZnSTdKeEdFRlRjdWhvV25lS1dDT3hvWUdBLVNtY3F1QkhUSHVXaUxQSHdvdjVxcnhBdlpwZngtVXdOQ09YTnNaVjNZa2NjUTBxOTFqcUFMY2RMamFEVDFROVZrOUgzTC1sZnVkR2xGMjQwR291UGVNS1VFN0MwcXZobHZPdzVZb25kaU9BZnZ3dGU1bjRlaUkzdmxPYVJkOVk0MUlXZms1dWJUVEEwMW5oSk1UdUZqeGluREh4ZjdrTW01Y2I3cV9rb1gxZ0N3?oc=5)).
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Fiscal Policy
The Federal Government unveiled the National Environmental Regulations Framework 2026, while Kaduna State is pursuing reforms to eliminate multiple taxation ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMijwFBVV95cUxQWW1ackdISHF1eHVKU0VPT2JVTVF2NUtnT3A5akthUWh1TXc2dlV5WThGaUROMHcxNm4wQXB5RGJXenFFdFJpRUUwRW85ekFUcE02cDFaa083X3BPOElweER5c290NEpZWWJFWFMtOTRVaHdiZDVYMHh5RTZpWDVIdy1uZlYzckg5TDNpVWxTaw?oc=5), [Premium Times Nigeria](https://news.google.com/rss/articles/CBMiyAFBVV95cUxQSENnTXRGSTN4REVyXzNPNWJmczFkUGxVeGlpcDlIc1JGZU44b3ZGalpzRjRka3lteDFYNU1hOEwxdm9mamhRMUpObnFpWDhSeUdLUFIxQ0ZZRDJvM25QWWpNVVk4UWFjdUNBQ0dTems4QXZqS0ZCeVQ1Q1FFWHhqVlZZeVpqS0JUX1AyVjNFTmZmNm1aZ1VxTnVSU0IxUzJ4dWRaLXN4cG5ueDNnS040SUtka05vME5fV1ZpUVA4VUxORVMtZGE?oc=5)).
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State Budgeting
Governor Fubara signed a N1.85 trillion appropriation bill into law for Rivers State ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMihgFBVV95cUxORnVScXF6OWFyVW1yUUNsd1V5UUg3V2JpdVF2ZHBNTWlVTUtFY3FmeVVIaDNSNVo1c3VKTk9nZ2xDS0hCN1hJNHdBVXNXaFZ6SERGZmFGblAyT2huS0dCM1FDMVVtdDE2WVF0YVIyemcwbzl4TnlfbUFzSlV3anZxTmt4S1Rmdw?oc=5)).
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Other updates
Reports noted NNPC remitting N7.913 trillion to FAAC and the launch of a N10bn research fund by TETFund ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMinwFBVV95cUxNbmJTUWZHYkRkQ0ptbUk5U0FsZzI1TmZPanc2X2tEWFAzb3otWXJ3ZGcxV0Y2cHAyS0YyakpQQ3poWHloZkg5WVo4VEp0NTRFNF9hd0VzZzlDZjU0QUZaUzRiRkhibkpjT0hHNHlfamdSbU5PU2lDSktsWmR5RXltSVgwX3BQOURPRTBYbzhJTzBrX3NfaWRhd0U2RDNRSmM?oc=5), [leadership](https://leadership.ng/powering-nigerias-knowledge-economy-tetfund-opens-n10bn-research-fund/)).
High Risk Alerts
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PFIPC Corruption Scandal
The House of Representatives has uncovered 58 bank accounts and a N400 million deal linked to the detained Director-General of the Presidential Foreign Intervention Promotion Council (PFIPC) ([The Punch](https://punch.com/pfipc-scandal-reps-uncover-58-bank-accounts-n400m-deal-linked-to-detained-dg/)).
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Financial Dispute
Kudiwave has protested at PalmPay offices demanding the return of N750 million ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMiswFBVV95cUxNekFqaWdiQWRnSWt5UU0xOGluUnZoV3AwVkRfSGVoQ0tsMnBHQi1pR3V3S0k3dTdQNDN1WFNHSjlJMnpIMXNBZWRjdUdBRkpwNWZMTGllOVlzb3VzQUJHTGVlc0FTVjlZeU1qWHdNeC0tWjlEYkRIaDhKaFVGMl9rUjZ4VzBHOVlvTldBaUJjWkJSZ2FpSDVLcldreUI4Uld3SzNLNV9XSndQQjBfcUpRNENZUQ?oc=5)).
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Audit Failure
External auditors of Cutix Plc have resigned after six years of service, a potential red flag for corporate governance or financial reporting issues ([Premium Times Nigeria](https://news.google.com/rss/articles/CBMiygFBVV95cUxOLWVzV3dfWUJPN3BOa01Ba3VOSzZobF9xczVRSlBkOW9SVUNNYUhnNzNORUpkU0lpdGpXd2dLeElKeGtMd1U0UDhLWTlVRkxUeThlY0lFSm1QVXVJN3FWN3VzT0pmaThFV2pMMUJuWmlNZldkN0FSWUNrenVQaF9GeW9VUVZnNmlEdzIxWDZBQ05aVVF2cDd5LTZ4SW04SUpITHNyZ1UyeDhabTZCeFpVeHkwY29wNGVacFdNQk5QNzczS2hhZDI1TEJR?oc=5)).
Beneficial Ownership & PSC Disclosures
No person with significant control was identified in the provided dataset.
Procurement & Board Changes
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Procurement Automation
The Bureau of Public Procurement (BPP) is automating processes to curb abuses and increase transparency in public contracting ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMijAFBVV95cUxPS1hzOXgyNVI5Vk1DbXpzanRoa2FkR1lwbFVvM2R2NlBEaUZNb25GMXVkS3hqLWpZUEcyWHdhb05TbTF2YVBIdlFZOWtESnJRUUFESVpXdjY5aTlPMnVKWVJzT0RRRlJOT19HTnpfV1BHSTN5ek81SVhxX1hlekdtTDRMU0gydVVezTjhv?oc=5)).
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Board Appointments
Haruna has been appointed as the board chairman of the Iwemi Academic Platform ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMilgFBVV95cUxQQ2RaX3o0WjdFWTltY2FycllHOThZeEh6OUJDbHVvRWtNMTk0R2YtNmRmajZmNlBBOEFHTVgzS2pUekhCbnpfZjZRb01MRGJwSGp4cmFJVWJFR1pLaDZldFBqNlJ5UW5wTkg5OGJYWTVnX2YyektRaHBTUEd6Rl9PdE1OQmVkNXB6bTRNLXlYTmdCWUotMUE?oc=5)).
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Agency Leadership
Governor Sanwo-Olu appointed Gbaye as General Manager of the Lagos State Building Control Agency (LASBCA) ([The Guardian Nigeria News](https://news.google.com/rss/articles/CBMifkFVX3lxTE5MbXBaSzV5S3ZDNXFiaHRRUEhGMjladUk4NHNYQXdWU1RhTXdDeEw0SUthdjRVRkFwd0c0ZkwzZUp4Z2Z1d1dUU0lVZUNFUmlYdFhSWGhrU1Q3QUVrT0ZiQlRub3FJcWgwTDRQUmpPX_AWN3dJemtQZ1FoY3lOZw?oc=5)).
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Other Procurement
The Adamawa State Government approved N2.2 billion for fertilizer procurement to support dry-season farming ([leadership](https://leadership.ng/dry-season-farming-adamawa-approves-n2-2bn-for-fertiliser/)).