This Week in Finance: Four Stories Moving Money

The CBN has reopened Open Market Operations (OMO) securities to individuals, companies and non-bank financial institutions, giving domestic investors another way to put money into short-term fixed-income assets. The change reverses a restriction introduced in 2019.

The attraction is the yield. At a recent auction, OMO bills cleared at 20.39% and 20.01%, compared with 16.30% to 17.59% for comparable Treasury Bills. That creates another high-yield option for investors who may otherwise put their money into equities or other assets.

The concern for the Nigerian Exchange is whether OMO will pull money away from stocks. Analysts cited by Nairametrics don't expect a broad exit from equities, but weaker companies and expensive stocks could face more pressure if investors can earn strong fixed-income returns with less risk.

The EFCC has facilitated the recovery of $60 million from Nestoil, with the money paid to a consortium of lenders as part of a structured repayment arrangement.

The payment is only the first phase. Sources told Nairametrics that another estimated $40 million is expected in the next tranche, while a substantial portion of the debt remains outstanding.

The dispute has been running for years. The lenders previously put Nestoil's dollar-denominated debt at about $1.084 billion, alongside ₦469.43 billion in naira obligations. The recovery therefore represents an important payment, but only a fraction of the total amount claimed.

Heirs Insurance Group grew significantly in 2025, but the growth did not translate into higher profit.

The Group's gross written premiums rose 88.5% to ₦115 billion, while insurance revenue increased 70% to ₦53.4 billion. Despite that growth, profit before tax fell 14.9% from ₦11.2 billion in 2024 to ₦9.53 billion.

The Group attributed the weaker bottom line partly to foreign exchange volatility. Claims paid also rose sharply to ₦19.4 billion, up 87% from the previous year. Heirs General Insurance was particularly affected, with its profit before tax falling from ₦4.9 billion to ₦1.07 billion.

The numbers show a business that is growing quickly, while still dealing with the cost pressures that come with operating in Nigeria's volatile economic environment.

The Bank of Industry's first domestic bond has attracted subscriptions above the ₦250 billion offered, marking its debut in Nigeria's domestic debt capital market.

The five-year fixed-rate bond was priced within a 17.35% to 17.50% yield range, with semi-annual coupon payments and a two-year principal moratorium. The investor base included pension fund administrators, commercial banks, development finance institutions, corporates and other institutional investors.

BOI says the funds will expand its long-term financing capacity for businesses in priority sectors, while a ₦100 billion fund approved for BOI is expected to help support the bond's pricing and reduce borrowing costs for manufacturers and other businesses accessing BOI financing.

Final subscription and allotment figures will be announced after SEC approval.