Nigerian listed companies significantly increased earnings from investments in treasury bills, government bonds and bank deposits in the first half of 2026, as high interest rates continued to reward businesses with excess cash.
Finance income among 19 companies rose 174% year on year to N179.5 billion, up from N65.6 billion recorded in the corresponding period of 2025. Across the wider group reviewed, total finance income exceeded N200 billion.
MTN Nigeria led the gains with N46.8 billion in finance income. The telecoms giant ended June with about N874 billion in liquid assets, including cash, deposits, treasury bills and FGN bonds.
Dangote Cement followed with N14.8 billion, while Julius Berger and Presco each recorded about N9 billion. NASCON also more than doubled its finance income to N5.3 billion, while Seplat Energy reported $9.1 million.
The News Chronicle reports that the earnings surge reflects how cash rich companies are taking advantage of elevated returns on fixed income instruments.
However, the trend has not benefited all businesses. BUA Cement’s finance income dropped to N7.5 billion from N18.7 billion, while Oando also recorded a decline.
The figures highlight the growing importance of cash management as companies navigate Nigeria’s high interest rate environment.
