Author: Olu Anisere

FirstHoldCo Plc 45.575 billion outstanding shares market value slipped about 13% below its 52-week high on the Nigerian Exchange (NGX), its trading data from the local bourse revealed.

Ethereum (ETH) price hovered above $2.5k, down by more than 120 basis points in 24 hours

The Nigerian Exchange (NGX) indicators slumped, with a N1.58 trillion week-on-week reduction in market capitalisation

Crude Oil Prices Mixed, Brent Rises 0.5% in 5-Day, WTI Dips Oil prices closed mixed on Friday as US President Donald Trump ruled out military strikes against Iran before November’s midterm elections, easing immediate supply concerns despite hurricane-related disruptions in the Gulf of Mexico and falling US crude inventories. International benchmark Brent crude futures for December delivery traded at $102.82 per barrel Friday, up 0.5% from last Friday’s close of $102.25. US benchmark West Texas Intermediate (WTI) crude futures for November delivery traded at $90.57 per barrel, down around 0.5% from $91.11 a week earlier. Market sentiment remained mixed as…

Nestoil Chair. Tasks New Boards on Governance, Financial Sustainability The Chairman, Nestoil and Obijackson Group, Dr Ernest Azudialu-Obiejesi, has urged the group’s new boards to prioritise financial sustainability, corporate governance, operational efficiency and risk management for long-term growth. Azudialu-Obiejesi gave the charge at a dinner organised by the group on Friday night in Lagos to inaugurate the boards. He said the boards must focus on the group’s strategic direction while ensuring management received the necessary support, oversight, and accountability to deliver results. He listed five priority areas: financial sustainability; operational excellence and asset protection; risk management, compliance and internal control;…

Fuel Discount Promo, not Restoration of Subsidy – NNPC Ltd.  The Nigerian National Petroleum Company (NNPC Ltd.) has clarified that its fuel discount initiative is a temporary customer relief measure and does not amount to the restoration of petroleum subsidy.  The company made this known in a statement issued on Friday by its Chief Corporate Communications Officer, Andy Odeh. Odeh said the initiative was designed to cushion the impact of rising fuel prices on households, businesses and the wider economy amid elevated global crude oil prices linked to the conflict in the Middle East. He explained that it introduced the…

NDIC Pays N1.5 bn to Over 10,000 Depositors of Newly Failed MFBs The Nigeria Deposit Insurance Corporation (NDIC) says it has paid N1.48 billion to no fewer than 10,312 insured depositors of the 47 newly failed Microfinance Banks (MFBs). NDIC ‌‍⁠‌‍⁠⁠‍ ‌‌⁠‍‍‍‌‌ in its 2026 Customer Service Footprints on the Corporation’s X on Friday said the payments were made as at July 2026. The Corporation said it leveraged the customers’ Bank Verification Number (BVN) through the Nigeria Inter-Bank Settlement System (NIBSS) Plc to identify the depositors. NDIC said the insured deposit payment commenced within three days of the licence revocation…

The Nigerian naira weakened against crosses in the foreign exchange market, down 0..03% against the US dollar

Crude Oil Prices Decline as Trump Pauses Iran Attack Oil prices fell Friday after U. S. President Donald Trump said Washington would not attack Iran before next month’s congressional elections, easing concerns about further disruptions to Middle Eastern oil supplies. International benchmark Brent crude futures for December delivery decreased 0.8% to $103.45 per barrel, down from $104.28 at the previous close. US benchmark West Texas Intermediate (WTI) crude futures for November delivery dropped 0.7% to $90.85 per barrel from $91.49. Trump said Thursday that the US will not attack Iran before the midterm elections because the two sides are engaged…

NMDPRA Seals Filling Stations Over Petrol Under-Dispensing The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has expressed concern over under-dispensing of petrol by filling stations in spite of high fuel prices.  The NMDPRA Chief Executive, Malam Farouk Ahmed, raised the concern on Thursday during an inspection of filling stations in Port Harcourt. The inspection led to the sealing of two filling stations, Stage Oil and MRS, along the CFC area of Aba Road, over alleged under-dispensing of petrol to customers. Represented by Dr Mustapha Lamorde, Executive Director, Health, Safety, Environment and Community, NMDPRA, Ahmed said the authority would…