GBN

Lagos, June 3, 2026 – Union Bank of Nigeria’s Endless Possibilities campaign has won Bronze in the Heritage category at the 2026 Pitcher Awards, one of Africa’s foremost platforms for creative excellence.    The   campaign   was   also   shortlisted   in   the   Craft category for   Film   Craft, a recognition of the artistry and technical quality behind the work. These recognitions were awarded following adjudication alongside qualifying entries from across the African continent. The Heritage win carries a particular resonance. It recognises the bank’s ability to honour its rich heritage, while maintaining relevance with …

Washington, June 3, 2026 – The Trump administration is scrapping plans for a $1.8 billion fund that would have compensated allies of the Republican president, the Justice Department’s top official said Tuesday in retreating from a program that faced a fierce political backlash that had threatened to stall key elements of the White House agenda. “We are not moving forward with the fund, period,” Acting Attorney General Todd Blanche said in response to questions at a House hearing on the Justice Department budget. “Not moving forward ever?” asked Rep. Grace Meng, …

Lagos, June 3, 2026 -The Nigerian currency, the naira, appreciated at the official foreign exchange market on Tuesday with the NFEM rate N1,359.50 to the dollar. The naira exchange rate had closed at the segment at N1,360 to the dollar on Monday. Bid rates quoted by dealers at the market on Tuesday ranged between N1,365 and N1,374.9172 to the dollar. Meanwhile, the naira is being traded at the black market in Lagos at between N1,387 and N1,395 to the dollar

New York, June 3, 2026 – In a surprise move ahead of its investor roadshow, Elon Musk’s SpaceX plans to fix its IPO price at $135 per share to raise a record-setting $75 billion, according to a source familiar with the matter. The rocket and satellite communications ​company plans to sell 555.6 million shares, the source said. It is aiming for a valuation of $1.75 trillion, two other people said. The listing leads a wave of high-profile private companies preparing to test public ‌markets after years of muted large-cap IPO …

Singapore, June 3, 2026 – Oil prices rose on Wednesday, extending gains from the previous session, as hostilities in the Middle East erupted ​anew with Iran firing missiles at Kuwait and Bahrain, while diplomatic talks between ‌Iran and the U.S. showed little progress. Brent futures gained 81 cents, or 0.8%, to $96.81 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 91 cents, or 1.0%, to $94.67. Both benchmarks settled at a ​one-week high in the previous session. Iran launched ballistic missiles toward regional neighbors Kuwait …

Abuja, June 2, 2026 -The Central Bank of Nigeria (CBN) plans to bring about N2.83 trillion currently outside the banking system into formal financial system by 2028. The apex bank also plans to expand financial inclusion by binging 50 million additional Nigerians into the banking system by 2028. Olayemi Cardoso, the governor of the apex bank, disclosed this in Abuja on Monday while unveiling the Nigeria Payments System Vision 2028. He said the initiative was not merely about technology or financial transactions but about creating economic opportunities, reducing poverty, and …

Lagos, June 2, 2026 – The Nigerian Commercial Paper (CP) market has changed significantly in recent years. What was once a relatively quiet corner of the Debt Capital Market has gradually become one of the preferred funding channels for corporates seeking short-term financing outside traditional bank lending. At the center of this evolution are three important forces: liquidity, investor confidence, and credit ratings. In a recent interview session, Egie Akpata – Chairman of Skymark Partners- shared insightful perspectives on how these forces are shaping the market and why the growth …

Lagos, June 2, 2026 – When people think about credit ratings, financial indicators such as revenue, profitability, liquidity, and debt repayment capacity usually come to mind first. While these factors remain important, they do not tell the full story. A company may report strong earnings today yet still face pressure on its credit profile because of operational weaknesses capable of threatening future stability. This is why Credit Rating Agencies (CRAs) pay close attention not only to financial performance but also to operational risk. Although these risks may initially appear operational, …

Abuja, June 2, 2026 – The Central Bank of Nigeria (CBN) has redeployed its four deputy governors with effect from June 1, 2026. The reshuffle is was announced via a post on the apex bank’s official website on Monday. Under the current arrangement, Dr Muhammad Abdullahi, the Deputy Governor in charge of Economic Policy, has been reassigned to the Corporate Services Directorate, while Mr Philip Ikeazor will now be in charge of the Economic Policy Directorate. Ms Emem Usoro, the Deputy Governor in charge of Corporate Services, has been moved to …

Abuja, June 2, 2026 -The Federal Government has directed Ministries, Departments and Agencies (MDAs) to stop the compulsory three-month pre-retirement leave, given to officers ahead of their retirement. Mrs. Didi Walson-Jack, the Head of the Civil Service of the Federation, gave the directive in a circular to ministers, permanent secretaries, service chiefs, heads of agencies and other senior public officials. The circular, titled, “Correct Interpretation of Public Service Rule 120243 on Pre-Retirement Activities,” such provision does not exist in the Public Service Rules (PSR). It said many MDAs had wrongly …