The naira rallied against crosses in the currency market as proceeds from Nigeria’s hydrocarbon sales continue to boost the country’s foreign reserves.

The Nigerian Exchange (NGX) key performance indicators declined in the first trading session of June due to profit-taking in the local bourse. Market cap fell by N1.8 trillion on Monday as investors sold off.

Iran on Monday suspended high-stakes negotiations with the United States to protest Israel’s expanding military offensive in Lebanon, according to government-aligned media, complicating efforts to end the three-month war.

Canadian banks saw mixed results for 2Q26, according to Fitch Ratings. Most institutions reported modestly lower top-line numbers, primarily driven by three fewer calendar days in the quarter and pressure on net interest income.

Bitcoin (BTC) lost 3% in 24 hours to $71.4, underperforming a flat S&P 500 as Michael Saylor, Strategy Inc. chairman and co-founder, sold 32 Bitcoins for roughly $2.5 million between May 26 and May 31 to fund preferred stock dividend payments.

Ripple (XRP) price dipped more than 4% to $1.28 on Monday as investor sentiment continued to decline amidst 1 billion XRP unlocked from escrow.

Private sector activity improved to the best level in 9 months, according to Stanbic IBTC Bank’s Purchasing Managers’ Index (PMI) released by S&P Global today.

Fitch Ratings has upgraded Wema Bank PLC’s Long-Term Issuer Default Rating (IDR) to ‘B’ from ‘B-‘ and its Viability Rating (VR) to ‘b’ from ‘b-‘.  With stable outlooks, Fitch also upgraded Wema’s National Long-Term Rating to ‘A(nga)’ from ‘A-‘(nga)’.

The Nigerian naira opened the month of May slightly stronger as foreign reserves continue to climb again, following fresh inflows from hydrocarbon sales and offshore investors’ portfolio building.

Kidnapping: NUT Directs Oyo Teachers to Begin Indefinite Strike June 1 The Nigeria Union of Teachers (NUT) has directed all…