Latest in
The Securities and Exchange Commission (SEC) has issued a Cease and Desist Order, warning investors and capital market operators against unauthorised investment solicitations tied to a purported Initial Public Offering (IPO) of the Dangote Petroleum Refinery. In a regulatory notice dated June 23, 2026, the Commission stated that no IPO, public offer, or share sale ...
...as credit to government grows by 1.97% to ₦40.38 trillion Stronger foreign currency inflows drove a sharp expansion in Nigeria’s money supply in May 2026. Yet businesses remained hesitant to secure new debt despite recent interest rate cuts by the Central Bank of Nigeria (CBN). Data from the CBN's May 2026 Monetary and Credit Statistics, ...
The Nigerian stock market continued its winning streak, bringing major gains to investors on the trading floor as the total value of listed companies on the Nigerian Exchange Limited (NGX) shot up by ₦1.64 trillion, showing that buyers are still confident and actively trading. This upward push also lifted the All-Share Index (ASI) to hit ...
The Nigerian equities market commenced the week on a positive note on Monday, June 22, 2026, snapping a six-session losing streak as renewed buying interest in select large and mid-cap stocks outweighed profit-taking activities across the market. The benchmark NGX All-Share Index (ASI) rose by 0.97% to close at 238,219.19 points, up from the 235,941.27 ...
Trading activity in Nigeria's interbank foreign exchange architecture recorded positive momentum as the combined turnover of the FX spot and derivatives markets advanced by 7.70% week-on-week. Data released in a weekly report by the FMDQ Securities Exchange revealed that total turnover climbed to $2,323.07 million for the week ending June 19, up from the $2,157.02 ...
Total dollar inflows into Nigeria's foreign exchange market have dropped sharply by over 26%, falling to $689 million. The significant decline is directly linked to a complete absence of foreign exchange injections by the Central Bank of Nigeria (CBN) for six consecutive weeks. According to data compiled by Coronation Research, the supply gap has forced ...
The Nigerian naira on Thursday maintained relative stability against the United States dollar on Thursday, trading at about N1,358/$ at the official foreign exchange market. This performance is backed by improved liquidity and steady foreign investor activity, which continue to support the local currency. Data from the Nigerian Foreign Exchange Market (NAFEM) showed a marginal ...
The Federal Government has launched a ₦200 billion capitalization drive to facilitate the establishment of the proposed National Cooperative Bank of Nigeria. The initiative, aimed at addressing the acute financing bottleneck crippling micro, small, and medium-scale enterprises (MSMEs), seeks to pool equity contributions from cooperative societies, development partners, and private institutional investors nationwide. Under the ...
Fortis Global Insurance Plc has announced plans for a share capital reconstruction. In a corporate disclosure released on the Nigerian Exchange (NGX) portal on Thursday, the company noted that restructuring exercise will result in a planned reduction of the company's total issued share capital, consolidating existing shares into a leaner, more robust equity structure. Financial ...
Global energy and commodity markets experienced a massive relief rally on Tuesday following the signing of a landmark diplomatic agreement between the United States and Iran. The surprise deal provides for the immediate reopening of the strategically vital Strait of Hormuz and the lifting of the U.S. maritime blockade on Iran, effectively defusing months of ...
Conoil Plc has recorded a 1,235% profit growth despite a minor contraction in its top-line revenue according to its unaudited financial statement for the first quarter ended March 31, 2026. According to the results, the company’s Profit After Tax (PAT) hit ₦3.90 billion, a steep ascent from the thin ₦292.1 million recorded in the first ...
The Nigerian equities market closed on a slightly bearish note at the end of the trading session, as mild selling pressure clipped the benchmark index amid cautious investor sentiment. The All-Share Index (ASI) shed 6 basis points, though the market maintained a robust year-to-date return of 57.27%. Market activity indicators presented a mixed picture, signaling ...
Conoil Plc has filed its comprehensive financial statement with the Nigerian Exchange Group (NGX), providing a detailed look at its financial performance for the period. The audited results show that while the downstream petroleum marketer retained a resilient asset base, its bottom line was severely impacted by compressing margins and a sharp rise in financing ...
FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended Dec. 31, 2025, and its unaudited results for the first quarter ended March 31, 2026. For the 2025 financial year, the Group's profit before tax rose 81% year-on-year to ₦202.1 billion from ₦111.9 billion in 2024, while profit after tax ...
The Nigerian equities market resumed its upward trajectory as the benchmark All-Share Index (ASI) advanced by 0.54%, driven by heavy institutional buying and a massive surge in liquidity. This latest rally pushes the market's year-to-date return to an impressive 57.25%, solidifying its position as one of the region's top-performing financial markets. Market activity shifted into ...
The Central Bank of Nigeria (CBN) raised a total of ₦4.5 trillion through Open Market Operations (OMO) and Treasury bills last week, driven by robust investor demand for Naira-denominated assets at primary market auctions (PMAs). In the OMO primary market, the CBN initially offered ₦600.0 billion in bills. However, total subscriptions skyrocketed to ₦3.3 trillion, ...
There is a palpable sense of relief as the Federal Government's has granted approval to settle outstanding debts owed to 1,240 contractors. According to a statement released on Monday by Mary-Ann Duke, Senior Special Assistant on Communication and Press Secretary to the Minister of Finance, priority will be given to verified claims valued below ₦100 ...
Pan-African financial services group, United Capital Plc has secured operational licenses in Ethiopia and Rwanda, marking a significant milestone in its aggressive East African expansion strategy. With the newly acquired approvals, United Capital makes history as the first foreign institution to be licensed to operate as an investment bank in Ethiopia. The entry into Ethiopia, ...
FCMB Group Plc has declared a historic Profit After Tax (PAT) of ₦177.3 billion for the year ended December 31, 2025. This represents an extraordinary 142% growth compared to the previous financial year, positioning the financial holding company for its next phase of market dominance. According to the group’s audited financial statements released through the ...
Nigeria’s Assets Under Management (AUM) increased from N3.2 trillion to N10 trillion within the last two years, the Securities and Exchange Commission (SEC) has said. The Director-General of SEC, Dr Emomotimi Agama, disclosed this on Monday in Lagos during an event marking Nigeria’s transition to the T+1 settlement cycle. Agama said the growth reflected rising ...
By Damilare Adeleye The Nigerian stock market has commenced a faster T+1 settlement cycle as of June 1, 2026. In a notice issued in May 2026, the Securities and Exchange Commission (SEC) announced that the country’s capital market would kick off the transition to a T+1 settlement cycle. The implication is that if capital market ...
By Damilare Adeleye Nigeria’s banking sector recorded a significant increase in personal lending at the start of 2026, with outstanding personal loans climbing to N1.96 trillion in January and accounting for more than half of all consumer credit in the country. Data contained in the latest Economic Report released by the Central Bank of Nigeria ...
Ahead of its Annual General Meeting on 1 June 2026, Savannah Energy PLC, the British independent energy company has posted an increase in revenue by seventeen percent (17%) for the four months, ended 30 April 2026. The company reported that following the completion of the SIPEC acquisition in March 2025, the production expansion program underway ...
