Nationwide Glo Network Outage Disrupts Data Services Across Nigeria

Millions of subscribers of Glo Nigeria were left stranded on Tuesday following a nationwide data outage that disrupted internet connectivity and online transactions across multiple states.

The disruption, which began around 8:30 a.m., affected users’ ability to browse the internet, access mobile apps, or carry out digital payments—causing widespread frustration among individuals and businesses relying on mobile data services.

In an official statement to customers, Glo acknowledged the service interruption and tendered an apology for the inconvenience caused. The telecom operator assured subscribers that its engineers were working urgently to resolve the problem and restore normal connectivity.

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“We understand how important reliable access is to you and sincerely apologise for the disruption,” the company said.
“Our technical team is working to resolve the issue and ensure services are restored as quickly as possible.
Thank you for your patience and for choosing Glo. We truly appreciate you.”

The Glo network outage marks one of the most significant service disruptions experienced by the operator in recent months, with subscribers taking to social media to express their concerns and seek updates.

Telecom experts say nationwide outages of this scale often stem from major fibre cuts, transmission failures, or core network faults, though Glo has yet to disclose the exact cause.

Subscribers are hopeful that full connectivity will be restored soon as the company continues its recovery efforts.

Nationwide Glo Network Outage Disrupts Data Services Across Nigeria

Naira strengthens as official, parallel market rates align further

The Nigerian Naira remained stable against the US Dollar on Tuesday, December 9, 2025, with trading data showing continued convergence between the official exchange rate and the parallel market. The trend follows sustained monetary reforms and improved foreign exchange inflows.

According to figures from the NAFEM window, the Naira opened at an average of ₦1,450.92 per dollar, maintaining its recent trading band between ₦1,450 and ₦1,460. Market analysts attribute the stability to rising foreign inflows and the US Federal Reserve’s dovish monetary stance, which has weakened the dollar globally.

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In the parallel market, currency dealers in Lagos and Abuja priced the dollar at around ₦1,490 (selling) and ₦1,475 (buying). Data from street platforms, including Aboki Forex, indicates that the gap between official and black-market rates has narrowed to roughly ₦40, signalling reduced arbitrage and improved efficiency in the FX ecosystem.

Experts say the Central Bank of Nigeria (CBN) has helped steady the currency through ongoing reforms and gradual reserve buildup. Anticipated US Fed rate cuts later this month are also boosting investor confidence in Nigerian assets, helping keep exchange-rate volatility low as the year closes.

Naira strengthens as official, parallel market rates align further

NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation

The National Insurance Commission (NAICOM) has praised Continental Reinsurance Plc for hosting the 2025 CEO Roundtable, describing the forum themed “Recapitalization & Beyond: Rethinking Risk, Capacity and Collaboration for a Resilient Insurance Sector” as timely and critical to transforming the Nigerian insurance industry.

The high-level event, held in Lagos, brought together chief executives of major insurance companies across the country to deliberate on the future of the sector amid the ongoing recapitalisation exercise.

Delivering a goodwill message on behalf of the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, the Deputy Commissioner (Technical), Dr. Usman Jankara, said recapitalisation would reposition Nigerian insurers for stronger competitiveness, particularly under the African Continental Free Trade Area (AfCFTA).

According to him, recapitalisation is the bedrock for sustainable growth, as it will strengthen solvency, enhance underwriting capacity, enable insurers to retain more risks locally, build investor confidence, attract capital, stimulate mergers and acquisitions, and drive regional expansion.

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Jankara noted that Continental Re’s initiative aligns with NAICOM’s reform agenda, which prioritises improved capacity, stronger financial resilience and innovation across the sector.

Reiterating the new minimum capital requirements—₦10bn for life insurers, ₦15bn for non-life companies, and ₦35bn for reinsurers—he stressed that the thresholds were designed to build institutions capable of underwriting large transactions and competing across African markets.

In his lead presentation, the Managing Director of Financial Derivatives Company Limited, Mr. Bismark Rewane, described recapitalisation as a transformative lever for driving economic growth, strengthening climate resilience, boosting capital market development, and improving claims-paying capacity. He added that it would enable underwriting of complex risks, promote consolidation, enhance investor confidence and support innovation and technology adoption.

Managing Director of Continental Reinsurance Plc, Dr. Fatai Lawal, said the theme of the roundtable captures both the challenges and opportunities ahead for the industry. He noted that the forum was convened to help industry leaders assess progress, exchange insights and develop strategies for building a stronger, more resilient sector.

NAICOM Hails Continental Re for 2025 CEO Roundtable on Insurance Recapitalisation