Oil stocks, First HoldCo drag market lower as investors lose N945 billion on Monday
The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth.
The NGX All-Share Index (ASI) declined by 0.60% to close at 243,271.57 points, while market capitalisation shed an equivalent percentage to settle at N156.03 trillion.
Read more
https://nairametrics.com/2026/06/16/oil-stocks-first-holdco-drag-market-lower-as-investors-lose-n945-billion-on-monday/
The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth.
The NGX All-Share Index (ASI) declined by 0.60% to close at 243,271.57 points, while market capitalisation shed an equivalent percentage to settle at N156.03 trillion.
Read more
https://nairametrics.com/2026/06/16/oil-stocks-first-holdco-drag-market-lower-as-investors-lose-n945-billion-on-monday/
Nairametrics
Oil stocks, First HoldCo drag market lower as investors lose N945 billion on Monday
The Nigerian equities market relapsed into a bearish mode on Monday, June 15, 2026, as investors resumed profit-taking in oil and gas and banking heavyweights, erasing approximately N945 billion from investors’ wealth.
Naira strengthens to N1,356/$, best level since April 2026
The Naira strengthened against the United States dollar on Monday, closing at N1,356/$ at the official market.
Data from the Central Bank of Nigeria’s (CBN) website shows that the currency appreciated from N1,365.4/$ recorded on Friday to N1,356/$ on Monday.
Read more
https://nairametrics.com/2026/06/16/naira-strengthens-to-n1356-best-level-since-april-2026/
The Naira strengthened against the United States dollar on Monday, closing at N1,356/$ at the official market.
Data from the Central Bank of Nigeria’s (CBN) website shows that the currency appreciated from N1,365.4/$ recorded on Friday to N1,356/$ on Monday.
Read more
https://nairametrics.com/2026/06/16/naira-strengthens-to-n1356-best-level-since-april-2026/
Nairametrics
Naira strengthens to N1,356/$, best level since April 2026
The Naira strengthened against the United States dollar on Monday, closing at N1,356/$ at the official market.
US-Iran peace deal: What it means for Nigeria’s economy
The United States and Iran have agreed to a peace plan that is expected to bring an end to the three-month conflict that unsettled global markets and pushed energy prices to multi-year highs.
U.S. President Donald Trump disclosed the development on Sunday in a post on his Truth Social platform, stating that an agreement with the Islamic Republic of Iran had been completed.
The announcement also included the lifting of a weeks-long U.S. naval blockade of Iranian ports and the reopening of the Strait of Hormuz to global shipping.
Read more
https://nairametrics.com/2026/06/16/us-iran-peace-deal-what-it-means-for-nigerias-economy/
The United States and Iran have agreed to a peace plan that is expected to bring an end to the three-month conflict that unsettled global markets and pushed energy prices to multi-year highs.
U.S. President Donald Trump disclosed the development on Sunday in a post on his Truth Social platform, stating that an agreement with the Islamic Republic of Iran had been completed.
The announcement also included the lifting of a weeks-long U.S. naval blockade of Iranian ports and the reopening of the Strait of Hormuz to global shipping.
Read more
https://nairametrics.com/2026/06/16/us-iran-peace-deal-what-it-means-for-nigerias-economy/
Nairametrics
US-Iran peace deal: What it means for Nigeria’s economy
With the war potentially over, expectations are that the global economy could begin to recover, and Nigeria will not be left out.
IMF warns dollar-denominated stablecoins could undermine naira demand
The International Monetary Fund (IMF) has warned that the growing use of U.S. dollar-denominated stablecoins in Nigeria could weaken demand for the naira and reduce the effectiveness of the country’s monetary policy framework.
The warning was contained in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel,” which examined the rapid adoption of stablecoins for payments, remittances, and savings.
According to the IMF, the migration of cross-border transactions from traditional banking channels to digital wallets and cryptocurrency exchanges is creating a form of digital dollarization, with implications for exchange rate management and monetary policy transmission.
Read more
https://nairametrics.com/2026/06/16/imf-warns-dollar-denominated-stablecoins-could-undermine-naira-demand/
The International Monetary Fund (IMF) has warned that the growing use of U.S. dollar-denominated stablecoins in Nigeria could weaken demand for the naira and reduce the effectiveness of the country’s monetary policy framework.
The warning was contained in a report titled “Stablecoins in Nigeria: A Growing Cross-Border Channel,” which examined the rapid adoption of stablecoins for payments, remittances, and savings.
According to the IMF, the migration of cross-border transactions from traditional banking channels to digital wallets and cryptocurrency exchanges is creating a form of digital dollarization, with implications for exchange rate management and monetary policy transmission.
Read more
https://nairametrics.com/2026/06/16/imf-warns-dollar-denominated-stablecoins-could-undermine-naira-demand/
Nairametrics
IMF warns dollar-denominated stablecoins could undermine naira demand
The International Monetary Fund (IMF) has warned that the growing use of U.S. dollar-denominated stablecoins in Nigeria could weaken demand for the naira and reduce the effectiveness of the country's monetary policy framework.
Haleon unveils new corporate identity in Nigeria after GSK demerger
Haleon has commenced the phased rollout of its corporate identity across Nigeria as part of its transition to a standalone consumer healthcare company.
The development was disclosed in a statement dated June 12, 2026, and seen by Nairametrics.
The company, which emerged as an independent business following its demerger from GSK in July 2022, said the transition involves updating branding on product packaging and corporate materials while maintaining the same product standards consumers have come to trust.
Read more
https://nairametrics.com/2026/06/16/haleon-unveils-new-corporate-identity-in-nigeria-after-gsk-demerger/
Haleon has commenced the phased rollout of its corporate identity across Nigeria as part of its transition to a standalone consumer healthcare company.
The development was disclosed in a statement dated June 12, 2026, and seen by Nairametrics.
The company, which emerged as an independent business following its demerger from GSK in July 2022, said the transition involves updating branding on product packaging and corporate materials while maintaining the same product standards consumers have come to trust.
Read more
https://nairametrics.com/2026/06/16/haleon-unveils-new-corporate-identity-in-nigeria-after-gsk-demerger/
Nairametrics
Haleon unveils new corporate identity in Nigeria after GSK demerger
Haleon has commenced the phased rollout of its corporate identity across Nigeria as part of its transition to a standalone consumer healthcare company.
DMO to reopen two FGN Bonds to raise N1.2 trillion at June 22 auction
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, will reopen two FGN Bonds to raise a combined N1.2 trillion at an auction scheduled for Sunday, June 22, 2026.
In its official offer circular published on Monday, June 15, the debt office disclosed that it will offer N600 billion each in a 10-year and a 20-year bond re-opening with settlement scheduled for June 24, 2026.
The planned issuance forms part of the Federal Government’s domestic borrowing programme aimed at funding budgetary obligations and managing public debt.
Read more
https://nairametrics.com/2026/06/15/dmo-to-reopen-two-fgn-bonds-to-raise-n1-2-trillion-at-june-22-auction/
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, will reopen two FGN Bonds to raise a combined N1.2 trillion at an auction scheduled for Sunday, June 22, 2026.
In its official offer circular published on Monday, June 15, the debt office disclosed that it will offer N600 billion each in a 10-year and a 20-year bond re-opening with settlement scheduled for June 24, 2026.
The planned issuance forms part of the Federal Government’s domestic borrowing programme aimed at funding budgetary obligations and managing public debt.
Read more
https://nairametrics.com/2026/06/15/dmo-to-reopen-two-fgn-bonds-to-raise-n1-2-trillion-at-june-22-auction/
Nairametrics
DMO to reopen two FGN Bonds to raise N1.2 trillion at June 22 auction
The Debt Management Office (DMO), on behalf of the Federal Government of Nigeria, will reopen two FGN Bonds to raise a combined N1.2 trillion at an auction scheduled for Sunday, June 22, 2026.
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“CBN is about to restructure how Nigerian banks are built.”
This isn’t just policy, this could reshape the entire banking system. This is not just a technical adjustment, it’s a system-level redesign of risk and control.
👉 Watch the full conversation on YouTube @nairametrics.tv
https://youtu.be/kTepp_f4YEo
This isn’t just policy, this could reshape the entire banking system. This is not just a technical adjustment, it’s a system-level redesign of risk and control.
👉 Watch the full conversation on YouTube @nairametrics.tv
https://youtu.be/kTepp_f4YEo
Lionel Richie files to trademark voice over rising AI deepfakes
Legendary American singer Lionel Richie has filed applications to trademark the sound of his voice in a move that reflects growing efforts by celebrities to protect their identities from the rising threat of artificial intelligence (AI)-generated deepfakes.
The four-time Grammy Award winner submitted four trademark applications to the United States Patent and Trademark Office (USPTO), seeking protection for audio recordings of him delivering some of his most iconic phrases, Telegraph UK reported.
Read more
https://nairametrics.com/2026/06/16/lionel-richie-files-to-trademark-voice-over-rising-ai-deepfakes/
Legendary American singer Lionel Richie has filed applications to trademark the sound of his voice in a move that reflects growing efforts by celebrities to protect their identities from the rising threat of artificial intelligence (AI)-generated deepfakes.
The four-time Grammy Award winner submitted four trademark applications to the United States Patent and Trademark Office (USPTO), seeking protection for audio recordings of him delivering some of his most iconic phrases, Telegraph UK reported.
Read more
https://nairametrics.com/2026/06/16/lionel-richie-files-to-trademark-voice-over-rising-ai-deepfakes/
A Federal Capital Territory High Court in Abuja has dismissed an application by former Kogi Governor Yahaya Bello challenging the N110 billion fraud case filed against him by the EFCC.
Judge Maryann Anenih ruled the court has jurisdiction, rejecting Bello's argument that the case amounted to an abuse of court process.
The EFCC said the FCT case involves conspiracy and breach of trust charges, distinct from a separate federal high court case on money laundering.
The court directed the prosecution to proceed, with its 16th witness already present to testity.
Source: The Cable
Judge Maryann Anenih ruled the court has jurisdiction, rejecting Bello's argument that the case amounted to an abuse of court process.
The EFCC said the FCT case involves conspiracy and breach of trust charges, distinct from a separate federal high court case on money laundering.
The court directed the prosecution to proceed, with its 16th witness already present to testity.
Source: The Cable
Lagos seals hotels, churches, lounges over noise pollution violations
The Lagos State Environmental Protection Agency (LASEPA) has sealed several hotels, churches, lounges and other establishments across the state over noise pollution and other environmental violations.
The enforcement action was carried out by LASEPA in collaboration with the Lagos Environmental Sanitation Corps (KAI), following reports of persistent noise pollution and other environmental infractions.
Read more
https://nairametrics.com/2026/06/16/lagos-seals-hotels-churches-lounges-over-noise-pollution-violations/
The Lagos State Environmental Protection Agency (LASEPA) has sealed several hotels, churches, lounges and other establishments across the state over noise pollution and other environmental violations.
The enforcement action was carried out by LASEPA in collaboration with the Lagos Environmental Sanitation Corps (KAI), following reports of persistent noise pollution and other environmental infractions.
Read more
https://nairametrics.com/2026/06/16/lagos-seals-hotels-churches-lounges-over-noise-pollution-violations/
Nairametrics
Lagos seals hotels, churches, lounges over noise pollution violations
The Lagos State Environmental Protection Agency (LASEPA) has sealed several hotels, churches, lounges and other establishments across the state over noise pollution and other environmental violations.
ICYMI
UK sanctions Nigerian payment firm over alleged Russian-linked transactions
https://nairametrics.com/2026/06/16/uk-sanctions-nigerian-payment-firm-over-alleged-russian-linked-transactions/
Ripple backs Flutterwave in Series E round to accelerate stablecoin expansion
https://nairametrics.com/2026/06/16/ripple-backs-flutterwave-in-series-e-round-to-accelerate-stablecoin-expansion/
Global 5G subscriptions hit 3.1 billion in Q1 2026 — Report
https://nairametrics.com/2026/06/16/global-5g-subscriptions-hit-3-1-billion-in-q1-2026-report/
World Bank’s Mission 300 connects over 50 million Africans to electricity in two years
https://nairametrics.com/2026/06/16/world-banks-mission-300-connects-over-50-million-africans-to-electricity-in-two-years/
NGX stocks you should own amid rising inflation in 2026
https://nairametrics.com/2026/06/16/ngx-stocks-you-should-own-amid-rising-inflation-in-2026/
CBN offers N450 billion Treasury Bills for auction on Wednesday, June 17
https://nairametrics.com/2026/06/16/cbn-offers-n450-billion-treasury-bills-for-auction-on-wednesday-june-17/
Moniepoint CEO says Africa’s biggest business opportunity lies in informal sector
https://nairametrics.com/2026/06/16/moniepoint-ceo-says-africas-biggest-business-opportunity-lies-in-informal-sector/
UK sanctions Nigerian payment firm over alleged Russian-linked transactions
https://nairametrics.com/2026/06/16/uk-sanctions-nigerian-payment-firm-over-alleged-russian-linked-transactions/
Ripple backs Flutterwave in Series E round to accelerate stablecoin expansion
https://nairametrics.com/2026/06/16/ripple-backs-flutterwave-in-series-e-round-to-accelerate-stablecoin-expansion/
Global 5G subscriptions hit 3.1 billion in Q1 2026 — Report
https://nairametrics.com/2026/06/16/global-5g-subscriptions-hit-3-1-billion-in-q1-2026-report/
World Bank’s Mission 300 connects over 50 million Africans to electricity in two years
https://nairametrics.com/2026/06/16/world-banks-mission-300-connects-over-50-million-africans-to-electricity-in-two-years/
NGX stocks you should own amid rising inflation in 2026
https://nairametrics.com/2026/06/16/ngx-stocks-you-should-own-amid-rising-inflation-in-2026/
CBN offers N450 billion Treasury Bills for auction on Wednesday, June 17
https://nairametrics.com/2026/06/16/cbn-offers-n450-billion-treasury-bills-for-auction-on-wednesday-june-17/
Moniepoint CEO says Africa’s biggest business opportunity lies in informal sector
https://nairametrics.com/2026/06/16/moniepoint-ceo-says-africas-biggest-business-opportunity-lies-in-informal-sector/
Nairametrics
UK sanctions Nigerian payment firm over alleged Russian-linked transactions
The United Kingdom has imposed sanctions on a Nigerian financial services company Pilot Finance, also known as Continental Global Incentives, over allegations that it facilitated illicit financial transactions linked to Russia’s efforts to evade international…
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Life is not always a level playing field. Some people start ahead, others face tougher odds.
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Keep working. Keep learning. Keep positioning yourself for opportunities.
🎥OuiTalkPod
But one thing remains true: consistent effort increases your chances of success.
Keep working. Keep learning. Keep positioning yourself for opportunities.
🎥OuiTalkPod
Appeal Court suspends judgment deregistering ADC, 4 other political parties
The Court of Appeal has suspended the Federal High Court, Abuja’s order deregistering the African Democratic Congress (ADC) and four other political parties over their failure to meet the constitutional requirement of securing 25 per cent of votes in the last general elections.
A three-member panel of the appellate court, led by Justice A. B. Mohammed, suspended the lower court’s order in a unanimous ruling delivered on Tuesday.
Read more
https://nairametrics.com/2026/06/16/appeal-court-suspends-judgment-deregistering-adc-4-other-political-parties/
The Court of Appeal has suspended the Federal High Court, Abuja’s order deregistering the African Democratic Congress (ADC) and four other political parties over their failure to meet the constitutional requirement of securing 25 per cent of votes in the last general elections.
A three-member panel of the appellate court, led by Justice A. B. Mohammed, suspended the lower court’s order in a unanimous ruling delivered on Tuesday.
Read more
https://nairametrics.com/2026/06/16/appeal-court-suspends-judgment-deregistering-adc-4-other-political-parties/
Nairametrics
Appeal Court suspends judgment deregistering ADC, 4 other political parties
The Court of Appeal has suspended the Federal High Court, Abuja’s order deregistering the African Democratic Congress (ADC) and four other political parties over their failure to meet the constitutional requirement of securing 25 per cent of votes in the…
Microsoft pushes Nigeria to operationalise AI for measurable impact
Microsoft has tasked Nigeria with shifting its focus from drafting artificial intelligence policies to operationalising the technology in ways that deliver measurable impact for government, industry, and society.
According to a News Agency of Nigeria report, Mrs Nonye Ujam, Director of Government Affairs for West Africa at Microsoft, made the call on Tuesday at the AI Summit Nigeria in Abuja.
The Summit was organised by Microsoft in collaboration with the National Information Technology Development Agency and MTN under the theme “From Policy to Progress: Accelerating Responsible AI Adoption for Nigeria’s Digital Decade.”
Read more
https://nairametrics.com/2026/06/16/microsoft-pushes-nigeria-to-operationalise-ai-for-measurable-impact/
Microsoft has tasked Nigeria with shifting its focus from drafting artificial intelligence policies to operationalising the technology in ways that deliver measurable impact for government, industry, and society.
According to a News Agency of Nigeria report, Mrs Nonye Ujam, Director of Government Affairs for West Africa at Microsoft, made the call on Tuesday at the AI Summit Nigeria in Abuja.
The Summit was organised by Microsoft in collaboration with the National Information Technology Development Agency and MTN under the theme “From Policy to Progress: Accelerating Responsible AI Adoption for Nigeria’s Digital Decade.”
Read more
https://nairametrics.com/2026/06/16/microsoft-pushes-nigeria-to-operationalise-ai-for-measurable-impact/
Nairametrics
Microsoft pushes Nigeria to operationalise AI for measurable impact
Microsoft has tasked Nigeria with shifting its focus from drafting artificial intelligence policies to operationalising the technology in ways that deliver measurable impact for government, industry, and society.
GTCO, Zenith, UBA drag equities market lower as investors lose N782.44 billion
The Nigerian equities market retreated on Tuesday, June 16, 2026, as a broad selloff in banking stocks — led by GTCO, Zenith Bank, UBA, and FirstHoldCo — dragged the NGX All-Share Index (ASI) lower by 0.50%, wiping N782.44 billion from investors’ wealth.
This marks the second consecutive losses after Monday’s record loss of over N900 billion.
The benchmark Index declined to 241,984.80 points from 243,204.73 points at the previous close, while market capitalisation fell by an equivalent margin to N155.20 trillion.
Read more
https://nairametrics.com/2026/06/16/gtco-zenith-uba-drag-equities-market-lower-as-investors-lose-n782-44-billion/
The Nigerian equities market retreated on Tuesday, June 16, 2026, as a broad selloff in banking stocks — led by GTCO, Zenith Bank, UBA, and FirstHoldCo — dragged the NGX All-Share Index (ASI) lower by 0.50%, wiping N782.44 billion from investors’ wealth.
This marks the second consecutive losses after Monday’s record loss of over N900 billion.
The benchmark Index declined to 241,984.80 points from 243,204.73 points at the previous close, while market capitalisation fell by an equivalent margin to N155.20 trillion.
Read more
https://nairametrics.com/2026/06/16/gtco-zenith-uba-drag-equities-market-lower-as-investors-lose-n782-44-billion/
Nairametrics
GTCO, Zenith, UBA drag equities market lower as investors lose N782.44 billion
The Nigerian equities market retreated on Tuesday, June 16, 2026, as a broad selloff in banking stocks — led by GTCO, Zenith Bank, UBA, and FirstHoldCo — dragged the NGX All-Share Index (ASI) lower by 0.50%, wiping N782.44 billion from investors' wealth.
While most kids their age are doing homework, Jackson Fuller (10) and Quincy Fuller (8) are running a company that already generated $100,000 in first-year revenue — with serious corporate clients.
The brothers are co-CEOs of Stuffers, a family-run business that creates custom plush toys for corporate swag — with clients including Reddit and marketing agency New Engen.
The business idea came from a sharp observation by Quincy: "Mommy and daddy would always bring home boring notebooks, pens, and chargers with company names on them, but that would just go in the trash. But why not stuffies? You never throw stuffies away."
Source: Forbes
The brothers are co-CEOs of Stuffers, a family-run business that creates custom plush toys for corporate swag — with clients including Reddit and marketing agency New Engen.
The business idea came from a sharp observation by Quincy: "Mommy and daddy would always bring home boring notebooks, pens, and chargers with company names on them, but that would just go in the trash. But why not stuffies? You never throw stuffies away."
Source: Forbes
Which of these states do you think is becoming more expensive to live in?
Anonymous Poll
52%
A. Abuja
0%
B. Yobe
4%
C. Anambra
0%
D. Sokoto
60%
E. Lagos
0%
F. Abia
4%
G. Bauchi
12%
H. Delta
0%
I. Akwa ibom
0%
J. Benue
Nigeria’s headline inflation rate rose to 15.93% in May 2026, up slightly from 15.69% in April 2026, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics (NBS).
The report showed that the CPI increased to 140.7 in May 2026, compared to 138.3 in April, representing a 2.4-point rise.
Here are the Top 10 most expensive states to live in Nigeria — May 2026..
Visit www.nairametrics.com to read more.
The report showed that the CPI increased to 140.7 in May 2026, compared to 138.3 in April, representing a 2.4-point rise.
Here are the Top 10 most expensive states to live in Nigeria — May 2026..
Visit www.nairametrics.com to read more.
Equatorial Guinea’s government has resigned in its entirety after Prime Minister Manuel Osa Nsue Nsua presented the collective resignation of all government members, having achieved barely 10% of its set objectives, according to Vice-President Teodoro Nguema Obiang Mangue.
The vice-president — who is also the son of President Teodoro Obiang Nguema Mbasogo, the world’s longest-serving leader since 1979 — stated the resignation followed “the principle that responsibility in public management must be accompanied by results.”
Equatorial Guinea’s economy remains heavily dependent on oil and gas, which account for the majority of its exports and revenue. Despite this oil wealth, most of its 1.8 million population has not benefited, with poverty remaining widespread as production and demand for oil have declined in recent years.
SOURCE: BBC
The vice-president — who is also the son of President Teodoro Obiang Nguema Mbasogo, the world’s longest-serving leader since 1979 — stated the resignation followed “the principle that responsibility in public management must be accompanied by results.”
Equatorial Guinea’s economy remains heavily dependent on oil and gas, which account for the majority of its exports and revenue. Despite this oil wealth, most of its 1.8 million population has not benefited, with poverty remaining widespread as production and demand for oil have declined in recent years.
SOURCE: BBC