Crude oil prices fell below $80 a barrel yesterday for the first time since March, in a sign of traders’ growing confidence that the deal struck between the US and Iran will restore the flow of crude through the Strait of Hormuz.

Brent crude, the international benchmark, slumped 5.5 per cent to $78.58 a barrel, its lowest level since March 3, while West Texas Intermediate (WTI), the US benchmark, dropped 6.3 per cent to $75.66 a barrel.

The development is coming after Washington and Tehran agreed late on Sunday to extend their ceasefire and reopen the strait, which in effect has been shut since late February, after several weeks of fraught negotiations brokered by Qatar and Pakistan.

Meanwhile, The Central Bank of Nigeria (CBN) has ordered banks, fintechs, and other payment service providers to disclose their ultimate beneficial owners.

The regulatory measures were contained in a circular dated June 15, 2026, and signed by CBN’s Director, Payments System Supervision Department, Dr. Rakiya Yusuf.

Addressed to Deposit Money Banks, Microfinance Banks, Mobile Money Operators, switching companies, Payment Terminal Service Providers, Payment Solution Service Providers, Super Agents, and other licensed operators, the circular comes amid the rapid expansion of electronic payments and the increasing dominance of a few players across critical segments of the market.