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....as stock market opens year with N561bn gain By Seun Ibiyemi Investors traded a total of 7.821 billion shares valued at N134.471 billion in 150,799 deals on the Nigerian Exchange Ltd. (NGX) during the past week, representing a sharp increase in market activity. The performance marked a significant rise from the previous week, when 2.876 ...
United Bank for Africa Plc (UBA) has announced that its Board of Directors will meet on Thursday, February 19, 2026, to consider the Group’s Audited Accounts and Financial Statements for the year ended December 31, 2025, as well as proposals for a final dividend. The notice was issued by the order of the Board and ...
Access Holdings Plc has notified the Nigerian Exchange Limited (NGX) that its Board of Directors will meet on Thursday, January 29, 2026, to consider and approve the Group’s Audited Financial Statements for the year ended December 31, 2025. In a statement signed by Company Secretary Sunday Ekwochi, the financial institution disclosed that the Board may ...
By Seun Ibiyemi Trading activity on the Nigerian Exchange Ltd. (NGX) recorded a sharp decline during the week under review, with investors exchanging a total of 2.876 billion shares valued at N63.832 billion in 80,229 transactions. This performance stood in stark contrast to the previous week, when 9.849 billion shares worth N305.843 billion were traded ...
By Seun Ibiyemi The Nigerian capital market underwent one of its most consequential reform phases in recent history in 2025, as coordinated policy actions by the Nigerian Exchange Group (NGX) and the Securities and Exchange Commission (SEC) reshaped market structure, strengthened investor confidence, and repositioned equities and fixed income as credible channels for long-term capital ...
The Nigerian equities market closed bullish on Tuesday, leading to N578 billion gains for investors. This marks the 9th consecutive bullish session. Gains in stocks like: Aluminium Extrusion Industries, Austinlaz, Custodian Investment, First Holding Company, FTN Cocoa Processors and 24 others drove the market into positive terrain. Specifically, the market capitalisation, which opened at N97.193 ...
The Debt Management Office (DMO) has called on state governments to strictly adhere to the provisions of the Fiscal Responsibility Act and other relevant laws in all borrowing activities. Director-General of the DMO, Patience Oniha, made the appeal during a workshop on borrowing guidelines for state government officials held in Abuja. The workshop is part ...
Shareholders of Guinea Insurance Plc have approved a plan by the company to raise up to N15 billion in additional equity, as part of a comprehensive recapitalization program aimed at strengthening its financial position. The approval was given at an Extraordinary General Meeting (EGM) held virtually in Lagos on Monday, in compliance with the Business ...
Nigeria’s Securities and Exchange Commission (SEC) has directed capital market operators (CMOs) to renew their registration between January 1 and January 31, 2026, as part of ongoing efforts to strengthen regulatory efficiency and market oversight. The Director General of the SEC, Mr. Emomotimi Agama, disclosed this over the weekend, noting that the Commission will commence ...
By Seun Ibiyemi The Nigerian naira continued to show signs of weakness against the United States dollar on Monday, with both official and parallel foreign exchange markets reflecting sustained depreciation amid thin year-end liquidity and robust dollar demand. In the official Nigerian Foreign Exchange Market (NFEM), the naira closed around ₦1,466.50 per US dollar, a ...
By Seun Ibiyemi The Nigerian Exchange (NGX) closed the week on a positive note as the All-Share Index (ASI) and market capitalisation appreciated by 1.76 per cent to settle at 152,057.38 points and N96.937 trillion respectively. The performance represents an improvement over the previous week’s close of 149,433.26 points and N95.264 trillion market capitalisation, resulting ...
In a bid to ensure uninterrupted and efficient transactions for users of foreign-issued payment cards across Nigeria, the Central Bank of Nigeria (CBN) has directed banks and non-bank acquirers to configure all automated teller machines (ATMs), POS, and virtual terminals to accept international cards with Nigerian acquirers, comply fully with card association standards, and possess ...
Fidson Healthcare Plc, one of Nigeria’s leading pharmaceutical manufacturers has launched its N21 billion Rights Issue, following final regulatory approvals from the Securities and Exchange Commission (SEC) and the Nigerian Exchange Limited (NGX). The formalization took place at the company’s Lagos Head Office during a signing ceremony attended by executives and key stakeholders. The Rights ...
By Seun Ibiyemi Transcorp Hotels Plc has announced the appointment of Dr. (Mrs.) Awele Vivien Elumelu, OFR, as its new Chairperson, effective January 1, 2026. The hospitality giant stated that the appointment follows the retirement of the current Chairman, Mr. Emmanuel N. Nnorom, who is set to step down on the same date. In a ...
Seplat Energy Plc has reported a remarkable surge in revenue for the nine months ended September 30, 2025, underscoring strong operational performance and robust financial management. According to the interim management report, revenue for the period climbed to $2.18 billion, representing a 204 percent increase compared to $715 million in the same period of 2024. ...
Sterling Financial Holdings Company Plc has notified the Nigerian Exchange Limited (NGX), its shareholders, and the investing public of a scheduled meeting of its Board of Directors to deliberate on the company’s unaudited financial results. The board meeting is slated to hold in Lagos on Wednesday, January 28, 2026, at 10:00 a.m., where the unaudited ...
Stories by Seun Ibiyemi The Central Bank of Nigeria (CBN) has reverted to using its Scripless Securities Settlement System (S4) for the electronic submission of Treasury Bills auction bids. This decision follows a brief suspension caused by a technical glitch during its initial test run in November. The apex bank confirmed that the technical issues ...
Nigeria’s external trade picked up in the third quarter of 2025, with a steady rise in imports matching a rebound in exports, leaving the country with another positive trade balance, though the surplus narrowed slightly. Data from the National Bureau of Statistics (NBS) show that total merchandise trade reached N38.94 trillion, marking a modest increase ...
PZ Cussons says it has opted to retain its Africa operations and unveiled fresh expansion plans driven by renewed growth momentum in its key markets of Nigeria, Kenya and Ghana. This followed the conclusion of a strategic review, outlining an ambitious plan to strengthen the company’s presence across key markets on the continent. The company ...
FCMB Asset Management Limited (FCMBAM), the Asset Management arm of FCMB Group Plc, has received an upgrade in its Investment Manager rating from A-(IM) to A(IM) by Agusto & Co., one of Africa’s leading credit rating agencies. Agusto & Co. said the improved rating reflects FCMBAM’s strengthened investment management processes, strong research capabilities, disciplined governance ...
By Seun Ibiyemi The Federal Government has revealed its plan to borrow N17.89 trillion to fund a projected N20.12 trillion budget deficit in 2026. This is according to the 2026 Abridged Budget Call Circular released by the Federal Ministry of Budget and Economic Planning. In the circular seen by NewsDirect, N14.31 trillion, representing 80 percent ...
The Chartered Risk Management Institute of Nigeria (CRMI), in collaboration with the Securities and Exchange Commission (SEC) has trained regulated capital market entities on strengthening enterprise risk management (ERM). This is part of ongoing efforts to deepen investor confidence, enhance transparency, and reinforce proactive risk oversight across the Nigerian capital market. Speaking at the session, ...
...summon bank CEOs over alleged illegal charges By Seun Ibiyemi The House of Representatives has summoned Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), alongside other relevant agencies, to appear before its Public Accounts Committee (PAC) on Tuesday, December 16, to explain the non-remittance of over ₦16 trillion in government revenue. The decision ...
