Oando Plc announced that its upstream Joint Venture (JV) with NNPC E&P Limited (NEPL), the NEPL/Oando JV, has enabled the delivery of a 60-megawatt (MW) Independent Power Plant (IPP) in Yenagoa, Bayelsa State.

The money market rates closed on a mixed note, as deposit money banks’ placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF) window were offset by some operators borrowing.

The Naira closed the trading session in the positive territory at the Nigerian Foreign Exchange Market (NFEM), appreciating by 11bps or ₦1.44 against the U.S. Dollar.

Global energy crisis is expected to put Nigeria’s interest rate cut on hold until the aftermath effects of the US-Iran war fizzle out, analysts said in a discussion with MarketForces Africa.

All Fitch-rated licenced Nigerian banks have met the new paid-in capital requirements effective from end-1Q26, as have the majority of non-rated banks, Fitch says.

The MTN Nigeria Communications Plc has temporarily suspended its airtime and data lending service, “Xtratime”, following new regulations introduced by the Federal Competition and Consumer Protection Commission (FCCPC).