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Record single-day turnover driven by Treasury Bills at ₦668bn; OMO yields reach 22%; auction size doubled from ₦450bn Nigeria's fixed income market recorded a single-day trading volume of ₦1.06 trillion on June 4, 2026 — its highest turnover in recent memory, driven by aggressive institutional demand for short-term government debt instruments across 551 executed trades, according to data from the Central Bank of Nigeria's official Fixed Income Dashboard. Treasury Bills captur

MoU signed in Bissau; Nigerian airline to provide aircraft, management and majority investment; 18-month agreement effective immediately United Nigeria Airlines has signed a Memorandum of Understanding with the Government of Guinea-Bissau to establish and operate Air Bissau as the West African nation's national carrier, creating a joint venture in which the Nigerian airline will provide the majority of financial investment, operational expertise, aircraft, and management. The

Q1 2026 data: e-banking revenue up 12.56%; account maintenance charges hit ₦209bn; Fidelity Bank posts 164.9% growth Nigerian banks generated ₦224.69 billion from ATM transactions, card management fees, and electronic banking services in the first three months of 2026, sparking fresh concerns among customers who question why charges continue to rise even as banks post record revenues from digital services. Access Holdings led the industry by a significant margin, earning ₦85.

Stanbic IBTC index rises to 54.1 from 52.4; new orders at fastest pace in 9 months; fuel cost pressure easing Nigeria's private sector recorded its strongest growth in nine months in May, with the Stanbic IBTC Bank PMI rising sharply to 54.1 from 52.4 in April, marking the fourth consecutive month of improvement in business conditions and the highest reading since August 2025, according to data compiled by S&P Global. The expansion was driven largely by a strong acceleration

State-BOI facility targets SMEs facing commercial credit squeeze; programme adopted as national MSME financing model The Lagos State Government has disbursed ₦5 billion in counterpart funding to cooperative-based micro, small and medium enterprises across the state, as the government moves to shield its vital small-business sector from a severe credit squeeze caused by persistently high commercial interest rates. The disbursement was confirmed by Folashade Ambrose-Medebem, Co

Brent drops below $83 after ceasefire confirmed Sunday; Dangote cautions on timing due to existing crude stocks Petrol prices in Nigeria could drop to as low as ₦900 per litre in the coming days following the signing of a peace agreement between the United States and Iran on Sunday, which triggered a sharp decline in global crude oil prices and set in motion plans to reopen the Strait of Hormuz. Brent crude futures fell 4.8% to $83.10 per barrel as markets reacted to the US-I

Nigerian investment firm becomes latest financial institution to expand beyond West Africa; Rwanda and Ethiopia markets targeted United Capital Plc, one of Nigeria's leading investment banking and financial services firms, has secured operating licences in Rwanda and Ethiopia, becoming the latest Nigerian financial institution to expand its footprint into East Africa as the continent's fastest-growing economies attract increasing Nigerian financial sector interest. United Cap

Governor Alia signs bill into law; state joins growing list pursuing electricity autonomy under constitutional amendment Benue State Governor Hyacinth Alia has signed the Benue State Electricity Law into effect, formally establishing the state's independent electricity regulatory framework and making Benue the latest Nigerian state to exercise its constitutional authority over its own power generation, transmission, and distribution. The signing follows months of legislative

Infrastructure fund targets green industrialisation in Sub-Saharan Africa; corporate Nigeria's dollar earnings fully recovered three years after 2023 shock Nigeria's corporate sector has crossed a significant financial milestone, with listed companies collectively surpassing their pre-devaluation dollar earnings peak, three years after the 2023 naira shock erased billions from reported corporate profits, as a new $76 million climate infrastructure fund opens fresh capital cha

Tax Expenditure Statement published; SMEs can now see and apply for incentives previously available only to well-connected firms Nigeria's sweeping 2025 tax reform legislation has produced one of its most consequential but least-publicised changes: a Tax Expenditure Statement that publicly documents, for the first time, every tax exemption, waiver, and incentive the Federal Government extends to businesses and sectors across the economy. The Federal Inland Revenue Service co

Brent at $97, WTI at $87 as MoU negotiations progress; Iran strikes Kuwait despite talks; supply disruption persists Global oil prices retreated almost 20 per cent from their 2026 wartime peak last week, with Brent crude falling to around $97 per barrel and WTI to $87, as markets responded to diplomatic progress between the United States and Iran toward a 60-day ceasefire extension, though analysts cautioned that the underlying supply disruption from the Strait of Hormuz rema

Labour confirms talks at Geneva ILO conference; current ₦70,000 wage expires early 2027; Lagos branch seeks ₦225k Nigeria's organised labour movement has confirmed that negotiations for a new national minimum wage will begin in July 2026, with the current ₦70,000 minimum wage law set to expire in early 2027, as labour leaders simultaneously warned state governors against unilaterally setting new wage figures outside the formal negotiation process. The Nigeria Labour Congress