Nigeria News (Standard)
Lagos Insurance Index Records 1.75% Loss, Wipes Out Two Years of Gains on NGX
Sector’s downturn follows poor earnings and recapitalisation concerns, making it the only major index in negative territory
Sector’s downturn follows poor earnings and recapitalisation concerns, making it the only major index in negative territory
The insurance sector on the Nigerian Exchange Limited (NGX) has posted a year-to-date loss of 1.75 percent as at June 19, reversing the strong gains recorded over the past two years. The negative returns, which have affected operators and shareholders alike, were registered in Lagos, where trading on the NGX takes place.
Data released by the NGX shows that this marks the first time in two years that the insurance index has closed in negative territory. In 2024, the sector delivered a remarkable return of 107.74 percent, ranking second only to oil and gas, which gained 159.81 percent. The positive trend continued into 2025, with insurance outperforming the all-share index and yielding about 79 percent for investors as at August of that year.
Analysts have attributed this year’s poor performance to investor worries over weak earnings from insurance operators and uncertainty surrounding ongoing recapitalisation efforts. The insurance index is now the only major sectoral index on the NGX to record a loss this year, while others—such as banking, oil and gas, consumer goods and industrial goods—have all posted gains.
A stockbroker based in Lagos who preferred not to be named said many investors are holding back pending clarity on recapitalisation guidelines and future earnings prospects for listed insurers. “The sector has seen its momentum slow down because shareholders are worried about how companies will meet new capital requirements,” the broker explained.
With other sectors showing resilience despite economic headwinds—including a naira that remains volatile—market watchers say attention will remain on regulatory moves by NAICOM and quarterly results from listed insurers in the coming months. Investors are expected to closely monitor developments around recapitalisation policies and company performance before making further commitments.
Nigeria News (Standard)
Asake Stages Exclusive London Performance with Spotify to Launch ‘M$NEY’ Album
Nigerian afro-fusion star collaborates with global streaming platform for one-night-only event spotlighting new project
Nigerian afro-fusion star collaborates with global streaming platform for one-night-only event spotlighting new project
Nigerian music sensation Asake delivered an exclusive one-night-only performance of his latest project, ‘M$NEY’, in partnership with Spotify at a special event held in London on Tuesday. The showcase marked a significant milestone for the Lagos-born artist as he continues to gain international recognition for his unique afro-fusion sound.
The London performance, organised by Spotify, brought together fans and industry stakeholders to experience Asake’s newest tracks live. The collaboration underscores Spotify’s ongoing commitment to promoting African talent on the global stage, with Asake seen as one of the continent’s most prominent musical exports in recent years.
Asake’s rise has been closely followed by Nigerian audiences and the diaspora, with previous releases topping local charts and earning him multiple award nominations. His partnership with Spotify for the ‘M$NEY’ event is expected to open up further opportunities for other Nigerian artists seeking global exposure through digital platforms.
Neither Asake nor representatives from Spotify provided immediate comment following the performance. However, industry observers have noted that such high-profile collaborations signal growing investment in African music markets by international tech and streaming firms.
With Afrobeats and related genres attracting increasing attention worldwide, stakeholders expect more partnerships between Nigerian artists and global companies in the coming months. The success of Asake’s exclusive event may serve as a template for future album launches and live showcases beyond Nigeria’s borders.
Nigeria News (Standard)
France Defeats Iraq 3–0 in FIFA World Cup Clash
European side secures comfortable win as group stage continues; match highlights dominant French performance
European side secures comfortable win as group stage continues; match highlights dominant French performance
France recorded a convincing 3–0 victory over Iraq in a FIFA World Cup group stage encounter played on Tuesday, 23 June 2026. The match, which took place at an international venue, saw the French team assert their dominance from the opening whistle, leaving Iraq with little room to respond.
The French side controlled possession throughout the game and capitalised on their attacking opportunities to secure all three points. By halftime, France had already established a lead, and they maintained pressure in the second half to widen the gap. The Iraqi team struggled to break down the organised French defence and was unable to find a way back into the contest.
This result is significant for France as it strengthens their position in the group and increases their chances of progressing to the knockout rounds of the competition. For Iraq, the defeat adds pressure ahead of their remaining group fixtures as they seek to keep their hopes alive in the tournament.
Both teams are expected to return to training immediately as they prepare for their upcoming matches. The outcome of this fixture will likely influence tactical approaches and squad selections moving forward in the FIFA World Cup.
Nigeria News (Standard)
Haaland Nets Brace as Norway Defeats Senegal 3–2 in FIFA World Cup Clash
Norwegian striker’s double sinks Senegal in dramatic five-goal encounter on Tuesday; African side faces uphill battle in group
Norwegian striker’s double sinks Senegal in dramatic five-goal encounter on Tuesday; African side faces uphill battle in group
Norway secured a hard-fought 3–2 victory over Senegal at the FIFA World Cup on Tuesday, with Erling Haaland scoring twice to lead his side past the African champions in a thrilling group stage match. The encounter took place at an international venue as both teams looked to advance their hopes in the tournament.
The match saw Norway take an early lead through Haaland, who converted a chance midway through the first half. Senegal responded quickly to level the scores before halftime, but Norway regained their advantage after the break with another goal from their star forward. Despite a spirited fightback from Senegal, including a late goal that kept tensions high, Norway managed to hold on for all three points.
The result places Norway in a strong position within their group, while Senegal now faces increased pressure to secure results in their remaining fixtures if they are to progress to the knockout rounds. For many Nigerian football fans, the outcome is significant as it affects potential future opponents for African representatives at the tournament.
Neither team’s coaches made official statements immediately after the final whistle. However, analysts have noted that Haaland’s clinical finishing proved decisive and praised both sides for delivering one of the most entertaining matches of the competition so far.
Senegal will now focus on regrouping ahead of their next group match, where only a win can keep their World Cup ambitions alive. Norway, buoyed by Haaland’s performance, will aim to build on this momentum as they continue their campaign.
