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In a strategic move to manage excess liquidity within the financial system, the Central Bank of Nigeria (CBN) conducted a massive Open Market Operation (OMO) auction on Monday, selling ₦1.3 trillion in bills. Despite an initial offer of ₦600 billion across two short-term tenors, the auction saw an overwhelming total subscription of ₦2.0 trillion from ...
The Chairman of NGX Group, Dr Umaru Kwairanga, has urged the listing of viable state-owned enterprises to deepen liquidity and strengthen Nigeria’s capital market. Kwairanga made the call in a statement on Saturday, following a strategic engagement with industrialist, Aliko Dangote, earlier on Friday. It was gathered that the engagement focused on sustaining reforms and ...
The Nigerian equities market maintained its bullish trajectory on Wednesday, as investors saw their portfolios expand by N880 billion amid sustained bargain hunting across key sectors. The All-Share Index (ASI) of the Nigerian Exchange (NGX) appreciated by 0.78%, closing at a record 178,184.35 points, up from its previous position. This upward movement pushed the total ...
The Nigerian Naira maintained its positive trajectory on Wednesday, extending a multi-day rally supported by improved foreign exchange liquidity at the official window. According to the latest data from the Central Bank of Nigeria (CBN), the local currency appreciated by 0.15% to close at ₦1,348.95/$ at the official window, despite touching an intraday low of ...
TotalEnergies has announced a proposed dividend of €3.40 per share for the 2025 fiscal year, representing a 5.6% increase over the previous year's payout. The decision, reached during a Board of Directors meeting on February 10, 2026, reflects the company’s resilience in a fluctuating energy market. Despite a year-on-year decline in oil prices, the global ...
Nigeria’s fiscal outlook is set for a historic surge as the Nigeria Revenue Service (NRS) announced a projected revenue target of ₦40.7 trillion for the 2026 fiscal year. This ambitious figure, revealed during the 2026 NRS Leadership Retreat in Abuja, indicates that the Service expects to significantly outperform the Federal Government’s budgeted revenue estimate of ...
Access Holdings Plc has provided a strategic update regarding its proposed acquisition of South Africa’s Bidvest Bank, clarifying that while the initial timeline for the deal has lapsed, the group remains committed to the transaction. In an official communication to the market, the financial powerhouse revealed that the long-stop date, the deadline by which all conditions for the ...
The Nigerian local bourse maintained its aggressive upward trajectory on Monday, February 9, 2026, with the All-Share Index (ASI) appreciating by 1.29% to close at an all-time high of 173,946.22 points. This sustained bullish momentum was primarily driven by high-cap stocks such as Dangote Cement and Aradel Holdings, pushing the total market capitalization to ₦111.66 ...
Ecobank Transnational Incorporated (ETI) has released its audited financial results for the full year ended December 31, 2025, demonstrating significant resilience and growth across its pan-African operations. The Group reported a substantial 30% increase in Profit Before Tax (PBT), which climbed to ₦1.28 trillion from the ₦986.7 billion recorded in the previous fiscal year. The ...
Airtel Africa PLC has notified the Nigerian Exchange and the London Stock Exchange of a significant transaction in its own shares as part of its ongoing capital allocation strategy. On February 6, 2026, the telecommunications giant purchased 100,000 ordinary shares from Barclays Capital Securities Limited, as part of the buy-back program initially announced in December ...
The Secretary to the Government of the Federation (SGF), Senator George Akume, has described the private sector as an indispensable partner in Nigeria’s journey toward national development. Speaking through the Permanent Secretary, General Services Office, Dr. Ibrahim Abubakar Kana, during a visit from the Lagos Chamber of Commerce and Industry (LCCI), the SGF reiterated the ...
Shares of Fidelity Bank Plc saw a robust 6.3% uptick on the Nigerian Exchange (NGX) this Thursday, as investors aggressively took positions ahead of the bank’s Fourth Quarter (Q4) earnings release. The surge pushed the lender’s share price to ₦19.4, significantly boosting the overall banking index. Trading activity saw approximately 9.5 million units of Fidelity ...
The Central Bank of Nigeria (CBN) significantly reduced the spot rate on its 364-day Treasury bills by 138 basis points, bringing it down to 16.98% during Wednesday’s primary market auction. This move follows a previous rate of 18.36% and reflects a strategic adjustment by the apex bank in response to overwhelming market liquidity. The auction ...
Femi Otedola, the billionaire Chairman of First Holdco Plc, has announced a sweeping restructuring of the financial powerhouse, signaling a new beginning defined by a radical departure from the company’s legacy structures. In a statement via his social media, Otedola framed the current transition as a necessary disruption, emphasizing that the group must dismantle its ...
The Nigerian stock market maintained its upward trajectory on Tuesday, building on the week’s opening gains as strong investor appetite for banking and industrial heavyweights propelled the benchmark All-Share Index (ASI) upward by 0.31%. By the close of the session, the ASI rose to 165,901.57 points, a significant leap from the 165,384.63 points recorded on ...
The Nigerian stock market in January 2026 saw a significant rally, with the market capitalization rising by ₦6.8 trillion to close the month at ₦106.15 trillion. This bullish start to the year resulted in a Year-to-Date (YTD) return of 6.27% for the All-Share Index (ASI). The top 10 best-performing stocks for January 2026, ranked by ...
By Sodiq Adelakun The naira appreciated against the United States dollar across both the official and parallel markets on Tuesday, reflecting improved foreign exchange conditions and stronger economic fundamentals. At the official Nigerian Autonomous Foreign Exchange Market (NAFEX), the naira closed at ₦1,418.95 per dollar, while the parallel market rate stood at ₦1,480 per dollar, ...
Operators in Nigeria’s capital market have called on the Securities and Exchange Commission (SEC) to extend the ongoing recapitalisation deadline from June 2027 to December 2027, citing election-year uncertainties and the pressure of multiple financial-sector reforms. The request was made at the Capital Market Academics of Nigeria (CMAN) Q1 2026 Roundtable, themed “Deconstructing the New ...
Chemical and Allied Products Plc (CAP) has posted a pre-tax profit of N9.1 billion for the year ended 31 December 2025, representing a 50.5% increase from N6.06 billion in 2024. The fourth quarter alone contributed N3.6 billion, an 84.1% rise compared to the same period last year. The growth was driven by strong paint product ...
The Rural Electrification Agency (REA) has partnered with the Central Securities Clearing System (CSCS) to unlock new funding pathways for Nigeria’s energy access goals through the capital market. This development was disclosed following a high-level meeting on Friday between the Managing Director of the REA and the leadership of the CSCS, led by its newly ...
Stories by Seun Ibiyemi The Nigerian stock market closed on a positive note on Tuesday, with equities posting modest gains that lifted investor sentiment across key sectors. The All-Share Index (ASI) increased by 0.09 percent, finishing at 166,256.83 points, while total market capitalisation rose to ₦106.34 trillion, according to the latest trading statistics from the ...
By Seun Ibiyemi The Nigerian stock market began the new trading week on a cautious note this Monday, as mild profit-taking activities shaved approximately ₦11 billion off investors’ portfolios. According to data from the Nigerian Exchange Ltd. (NGX), total market capitalisation dipped by 0.01 percent, closing at ₦106.342 trillion, down from the ₦106.353 trillion recorded ...
The Nigerian naira opened the week on a relatively stable footing against the United States dollar, reflecting broader calm in the country’s foreign exchange market. Early trading on Monday showed the currency holding around ₦1,420.59 per $1 in the official Nigerian Foreign Exchange Market (NFEM), marking a slight improvement from levels seen late last week. ...
