Geregu Power Plc has secured shareholder approval to pay a N22.5 billion dividend for the 2025 financial year, despite a slight decline in net profit. The company will pay N9 per share, representing an 82.5 percent payout ratio. While net profit dipped marginally to N27.25 billion from N27.43 billion the previous year, the firm utilized over N57 billion in retained earnings to fund the payout. Analysts suggest this aggressive dividend strategy is designed to maintain investor confidence following a major ownership restructuring late last year, in which MA’AM Energy Limited became the new controlling shareholder of Amperion Power Distribution, Geregu’s majority owner.

Global index provider FTSE Russell has paused the reclassification of Nigeria to Frontier Market status, placing the decision under “further review.” The move follows Nigeria’s recent transition to a T+1 settlement cycle, which requires trades to be cleared within one business day. FTSE Russell is currently assessing whether this shift forces international institutional investors into a prefunded model, which could negatively impact its “Settlement Cycle” quality criteria. A final decision on Nigeria’s status is expected by the end of August 2026.

Nigeria’s Minister of Finance, Taiwo Oyedele, has proposed the creation of a specialized Commercial Dispute Resolution Tribunal to address the prolonged litigation that currently hinders investment. Speaking at the Capital Market Academics of Nigeria (CMAN) conference, Oyedele highlighted that commercial cases can take up to 15 years to resolve, creating uncertainty that discourages investors.

The minister argued that a dedicated tribunal, staffed by experts and utilizing digital case management, is essential to provide the swift, enforceable contract resolutions necessary for a thriving capital market. Beyond judicial reform, Oyedele addressed broader economic concerns, urging a shift in public perception regarding government borrowing. He emphasized that debt should be evaluated based on the productivity and return on investment of the projects it finances. Additionally, he outlined the “seven laws of capital attraction,” stressing that investors prioritize trust, policy consistency, and strong institutions over tax incentives.

The conference also featured Emomotimi Agama, Director General of the Securities and Exchange Commission, who advocated for closer collaboration between regulators and the academic community to foster evidence-based policymaking. CMAN president Uche Uwaleke echoed this sentiment, proposing a structured framework to integrate academic research with practical industry expertise to accelerate national economic growth.

African airlines experienced an 8.9% year-on-year increase in international passenger demand in May 2026, marking one of the strongest regional performances globally according to the International Air Transport Association (IATA). During the same period, capacity in the region expanded by 8.3%, and the average passenger load factor rose to 73.4%. While Africa showed notable growth, its load factor remains the lowest among all regions, suggesting further potential for occupancy improvements. Conversely, global passenger demand declined by 2.2%, largely due to significant disruptions in the Middle East. Excluding that region, global demand saw a modest increase of 0.7%.

A flight carrying 269 Nigerians repatriated from Johannesburg, South Africa, arrived at Lagos’ Murtala Mohammed International Airport on Tuesday. This marks the second official government-led evacuation flight, following an initial group of 258 returnees on June 11. An additional flight, privately facilitated by ValueJet CEO Kunle Soname, brought 66 people home on June 24. The evacuations come as undocumented migrants face pressure following a deadline set by South African rights groups. The Nigerian Foreign Ministry has committed to five total repatriation flights and continues to engage with South African authorities to ensure the safety of its citizens. Additional flights are expected in the coming days.

The Nigerian government is initiating formal talks with South African authorities to secure compensation for citizens forced to abandon their businesses and properties due to rising anti-immigrant protests. Acting High Commissioner to South Africa, Alexander Ajayi, confirmed that the embassy is currently documenting the assets of Nigerians who have chosen voluntary repatriation. Ajayi emphasized that this process is intended to ensure that the hard-earned investments of Nigerians are not lost, and that the mission will work directly with the South African government to verify and address these claims. Additionally, Ajayi challenged the narrative that these individuals were undocumented, citing systemic delays at the South African Home Office as the reason many struggled to renew their residency papers.

A recent report from the Nordica Fertility Centre highlights a significant global decline in male reproductive health, with only 25% of men now possessing optimal semen quality. Experts point to a 50% drop in sperm counts over the last five decades, noting that modern levels often fall well below the 39 million concentration required for natural conception. Specialists attribute this trend to factors such as obesity, unhealthy lifestyles, and scrotal overheating. Furthermore, experts emphasize that men contribute to roughly 50% of infertility cases, yet the issue remains socially stigmatized as a primarily female concern. Doctors are calling for increased awareness, early medical evaluation, and lifestyle changes to address this growing reproductive challenge.

Chams Holding Company Plc has announced the appointment of Segun Oloketuyi as the new Chairman of its Board of Directors, effective July 9, 2026. He succeeds the company’s founder, Sir Demola Aladekomo, who is retiring after 40 years of leadership.

Aladekomo is credited with transforming Chams from a single technology business into a diversified group known for major projects, including the implementation of Nigeria’s Bank Verification Number (BVN) system. Oloketuyi, a former CEO of Wema Bank and currently a non-executive director at Chams, brings extensive experience in corporate governance and finance to the role as the company focuses on digital infrastructure and further expansion.

The Nigerian Navy, operating under Operation DELTA SENTINEL, has seized 22,870 litres of suspected illegally refined diesel in the Orashi Forest area of Rivers State. Following intelligence reports, naval personnel intercepted a wooden boat containing 36 sacks of the fuel. Subsequent drone surveillance uncovered additional concealed stockpiles hidden in vegetation and ponds, bringing the total to 81 sacks. The boat and the seized products have been processed according to anti-theft protocols. This operation is part of an ongoing effort to dismantle criminal networks involved in illegal refining and oil theft across the Niger Delta.

The Federal Ministry of Works has implemented a ban on commercial motorcycles (okada) and tricycles (keke Marwa) on the Lagos-Calabar Coastal Highway. Effective immediately, the directive also prohibits indiscriminate parking by trucks and articulated vehicles along the highway and all bridges across Lagos State.

The move, announced by the Federal Controller of Works in Lagos, Olufemi Dare, aims to protect the multi-billion-naira infrastructure from premature deterioration and enhance road safety. The ministry has also banned the improper disposal of refuse along the corridor. Task force officials have been deployed, and new road signs are in place to enforce compliance, as the government seeks to safeguard the sustainability of the 700-kilometre project.

Beta Glass Plc has appointed Timothy Ononiwu as its new Chief Financial Officer, effective July 1, 2026. Ononiwu, a finance veteran with over 30 years of experience, succeeds Helene Paradisi. Paradisi has resigned but will remain with the company until December 2026 to assist with the leadership transition and specific strategic projects. Beta Glass CEO Alexander Gendis noted that Ononiwu’s expertise in capital management and business transformation will support the firm’s long-term objectives as it navigates a challenging economic environment, which recently saw a decline in the company’s first-quarter profitability.

The Nigerian foreign exchange market saw a significant uptick in activity for the week ending June 26, 2026, with total turnover reaching $2.84 billion. According to data from the FMDQ Exchange, this represents a 22.06% increase from the $2.32 billion recorded the previous week.

The surge was driven by growth in both the spot and derivatives segments. The FX Spot market remained the dominant force, accounting for $2.77 billion—or 97.74%—of the total turnover. Meanwhile, FX Derivatives saw a sharp rise of 77.2%, reaching $64.04 million, fueled entirely by increased trading in FX Forwards. The average daily turnover for the week rose to $567.09 million, signaling improved liquidity in the interbank market. Despite the growth in derivatives, the data highlights a continued market preference for immediate spot transactions over long-term hedging.

President Bola Tinubu has signed the NIMC Act 2026 into law, replacing the 2007 legislation to modernize Nigeria’s digital identity infrastructure under the principle of “One Person, One Identity.”

The new act centralizes authority under the National Identity Management Commission (NIMC) and mandates the use of the National Identification Number (NIN) for essential services, including banking, passport issuance, voter registration, land transactions, and tax payments. To curb identity fraud and secure the digital economy, the law introduces severe penalties for unauthorized access or multiple registrations, including fines of up to 20 million naira and prison sentences of at least five years.

By harmonizing government databases, the policy aims to streamline customer verification for fintech and e-commerce, improve access to credit for small businesses, and enhance national security. Provisions are included to protect user privacy and support vulnerable populations, with the government aiming to foster a more reliable and formal digital economy.

The Nigerian Exchange (NGX) is set to close June in negative territory for the first time in four years, shedding N11.6 trillion in market capitalisation. This follows a record-breaking start to the year, where the market gained nearly N60 trillion between January and May. Analysts attribute the current downturn to profit-taking, dividend markdowns, and a major shift in liquidity toward the Dangote Refinery’s private placement. While the broader market decline has impacted all sectors—with banking stocks leading the drop—the exchange is simultaneously implementing structural reforms, including a T+1 settlement cycle and extended trading hours, aimed at improving long-term efficiency and competitiveness. Whether this correction signals a lasting reversal or a temporary pause remains uncertain as investors look toward second-half performance drivers like corporate earnings and potential index re-entry.

British American Tobacco (BAT) has announced a major restructuring plan that includes cutting 9,000 jobs, representing approximately 20% of its 47,000-person global workforce. The company aims to achieve £600 million in annual savings by 2028 to simplify operations and offset declining demand for traditional cigarettes. By the end of this year, BAT plans to eliminate 5,500 positions and outsource an additional 3,500. These cuts exclude the company’s US operations. The restructuring is part of a strategic shift toward smoke-free nicotine products, such as vapes and pouches, as the firm modernizes through AI and data analytics. BAT’s shares fell by 1.9% following the announcement, as analysts noted the scale of the layoffs exceeded market expectations. The company continues to face broader challenges, including intense market competition and significant legal pressure in Nigeria regarding healthcare-related claims.

Iranian cyberattacks against Israel have tripled year-over-year, rising from 1,600 incidents in June 2025 to 4,800 in June 2026. Yossi Karadi, chief of Israel’s National Cyber Directorate, confirmed the surge in an interview with Die Welt, noting that attacks target everything from critical infrastructure to small businesses and professional firms. While Karadi stated that Israel has successfully defended its most vital systems, he warned that the cyber threat remains relentless, with some smaller organizations suffering total system wipes. Iran continues to deny involvement in these hacking campaigns, even as the two nations remain engaged in an escalating conflict involving both kinetic and digital warfare.

The Nigerian Federal Government has initiated the process to return to the international capital market with a new Eurobond issuance. The Debt Management Office (DMO) has issued a call for Expressions of Interest from banks and professional firms to serve as Transaction Advisers, with a submission deadline of July 13. This move follows a successful November 2025 issuance and is part of a broader strategy to diversify funding sources, support budget financing, and refinance existing debt obligations. Nigeria’s recent sovereign credit rating upgrade by S&P Global Ratings to ‘B’ is expected to bolster investor interest and potentially lower borrowing costs for the government.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) is urging the Nigerian National Petroleum Company Limited (NNPCL) to accelerate a pending technical equity partnership with two Chinese firms. The deal, involving Sanjiang Chemical Company and Xinganchen (Fuzhou) Industrial Park, was initiated via an April 2026 Memorandum of Understanding to help restart and operate the Warri and Port Harcourt refineries. IPMAN argues that the ongoing delay is stalling efforts to improve domestic refining capacity, boost market competition, and ultimately lower fuel prices for Nigerians. The association is calling for greater transparency and a clear timeline from NNPCL leadership to ensure the project remains on track.

FirstBank has announced its support for the Imo State Government’s One Kindred One Business Initiative (OKOBI), a model designed to foster entrepreneurship through group-owned businesses. Launched in 2023 by Governor Hope Uzodimma, the initiative leverages communal values to formalize local groups into registered enterprises, aiming to create 100,000 jobs within three years. To date, over 600 businesses involving 20,000 members have been registered. FirstBank’s involvement focuses on enhancing financial inclusion and providing sustainable financing to these groups, which the bank notes reduces credit risk through peer accountability. Recognized as a National Human Capital Development Accelerator Project, OKOBI serves as a model for addressing unemployment and informal economic sectors across Nigeria.