Author: Olu Anisere

The South African Rand eased against the dollar as renewed US-Iran tensions boosted safe-haven demand for US Treasuries amid escalating war in the Middle East, First National Bank (FNB) said in a note.

With B.O.C Kenya and Uchumi leading the rally, the Nairobi Securities Exchange (NSE) Index climbed by 0.2% on Tuesday, reflecting investors’ positive sentiment.

Investors Gain N88bn in Nigerian Stock Market The Nigerian equities market closed on a positive note, as key indicators recorded marginal gains due to renewed buying interest in select stocks. Market capitalisation rose by N88 billion, or 0.06 per cent, to N140.523 trillion from N140.435 trillion recorded on Monday. Similarly, the All-Share Index advanced by 135.97 points, or 0.06 per cent, to close at 218,249.81, compared with 218,113.84 posted on Monday. The uptick was largely driven by increased demand for stocks such as National Salt Company, Union Dicon Salt, WAPCO, Trans-Nationwide Express and UAC of Nigeria, among others. As a…

Oyedele Replaces Edun as Tinubu Reshuffles Cabinet President Bola Tinubu has approved a minor cabinet reshuffle in the Federal Executive Council (FEC). A statement issued by the Secretary to the Government of the Federation (SGF), Sen. George Akume. said two ministers would leave the cabinet. The statement was signed by Mr Yomi Odunuga, Special Adviser, Media and Publicity to the SGF. He said that Edun, who served as Minister of Finance and Coordinating Minister for the Economy, had been directed to hand over to Mr Taiwo Oyedele, now elevated to the position. Oyedele was formerly Minister of State in the…

U.S. President Donald Trump has accused Iran of repeatedly violating a ceasefire with the United States, as a two-week truce nears its expiration.

Iran War, Software Disruption Emerge as Twin Risks for U.S. Credit The U.S. risk outlook has deteriorated heading into 2Q26, with the U.S.-Iran war and AI-driven software disruption emerging as the two dominant credit themes, Fitch Ratings says. In a prolonged war scenario, macroeconomic headwinds would be significant, driven by higher inflation, lower real wages, tighter financing conditions and broader demand weakness. Fitch’s adverse scenario, which assumes oil prices average $100/barrel for 2026, implies U.S. gross domestic product (GDP) growth of 1.5% in 2026, roughly 0.7 percentage points below Fitch’s base case. The maximum impact would be felt after four…

AfDB, Italy Sign Co-Financing Deal to Boost Key Sectors in Africa The African Development Bank (AfDB) and the Government of Italy sign a co-financing agreement to strengthen the partnership for support to key sectors in Africa The Government of Italy, through the Ministry of Economy and Finance, the Ministry of Foreign Affairs and International Cooperation, and AfDB, signed the agreement in Washington. The deal aims at strengthening their strategic partnership to support priority projects across key sectors in Africa, including energy, agriculture, water, infrastructure, and human capital development. The agreement was signed by the President of the African Development Bank…

Africa Finance Corporation (AFC) has announced the successful closing of a US$100 million, 5-year loan facility from the Export-Import Bank of India, further strengthening its long-standing partnership with the institution.

Oil Outlook Tightens, Prices Surge as U.S. Seizes Iran Vessel Reflecting lingering supply risk, oil prices rose on Monday after the United States seized an Iranian vessel and Tehran reclosed the Strait of Hormuz, heightening concerns over disruptions to global supply. International benchmark Brent crude traded at $95.32 per barrel, up around 5.5% from the previous close of $90.38. US benchmark West Texas Intermediate increased about 6% to $87.56 per barrel, compared with $82.59 in the previous session. US President Donald Trump said Sunday that American naval forces intercepted and disabled an Iranian-flagged cargo ship that attempted to breach the…

XRPUSD Dips to $1.40 as Buying Momentum Eases Ripple (XRPUSD) dipped to $1.40 over the past 24h, closely tracking a broader market pullback driven by renewed geopolitical uncertainty. XRP price had hit $1.50 before it faced technical rejection. More than a specific bearish touch, the token price move reflects a risk-off shift across crypto as traders digest conflicting reports on Middle East tensions. Investors witnessed a broader market sell-off led by Bitcoin, triggered by mixed geopolitical signals around the Strait of Hormuz and U.S.–Iran negotiations. XRP’s decline mirrors Bitcoin’s 1.78% drop, as the entire crypto market turned risk-off. Conflicting reports…