Economy
Stock Market Loses N141bn as Investors Ponder Emefiele’s Leaked Audio
By Dipo Olowookere
The Nigerian Stock Exchange (NSE) suffered a huge loss on Monday as investors continue to talk about a leaked audio made public on Sunday involving Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele and some top persons at the apex bank.
As reported, the CBN head was allegedly getting agitated about a “missing N500 billion”, but the bank later debunked this, saying issues being discussed in the phone conversation was mainly about bailout funds given to state Governors in the earlier part of this present administration of President Muhammadu Bihari.
During trading today, it was observed that investors were bailing out, trying stay on the sidelines to watch how things unfold in the coming days on the matter and the listing of MTN Nigeria shares on the NSE.
Business Post reports that the stock market in the first trading day of the week depreciated by 1.26 percent to extend the year-to-date loss to 9.37 percent and at the close of transactions, the market capitalisation reduced by N141 billion to finish at N10.701 trillion, while the All-Share Index (ASI) declined by 363.37 points to settle at 28,484.44 points.
An analysis of the sector performance showed that things were not encouraging as the banking index shed 2.80 percent, insurance index went down by 2.72 percent, the consumer goods industry lost 1.57 percent, the oil and gas index depreciated by 1.05 percent, while the industrial index dropped 0.15 percent.
Business Post reports further that the market breadth ended negative on Monday with 30 price losers and 11 price gainers.
Mobil Oil Nigeria topped the fallers’ log with N8 of its share value lost to close for the day at N165 per share.
It was followed by Stanbic IBTC, which went down by N1.95k to finish at N44.05k per unit, and Guinness Nigeria, which declined by N1.50k to end at N50 per share.
GTBank lose N1 today to close at N31 per unit, while PZ Cussons depreciated by 50 kobo to settle at N8.50k per share.
At the other side, Okomu Oil put up an impressive performance and was rewarded with a N7 price appreciation, closing at N77 per share.
Africa Prudential gained 28 kobo to rise to N3.82k per unit, while FBN Holdings increased its share price by 25 kobo to end at N7.50k per share.
Caverton appreciated by 9 kobo to settle at N2.55k per unit, while Neimeth Pharmaceuticals rose by 5 kobo to close at 55 kobo per share.
The activity chart was mixed on Monday with the volume of shares transacted by investors depreciating by 8.73 percent, while the value improved significantly by 104.71 percent.
A total of 214.7 million equities worth N2.8 billion were traded today in 3,856 deals in contrast to the 235.2 million shares valued at N1.4 billion executed in 3,130 deals in the previous session.
A further analysis indicated that UAC of Nigeria dominated the activity chart on Monday, accounting for 41.3 million units worth N289.1 million.
GTBank sold a total of 38 million shares valued at N1.2 billion, while UBA traded 16 million equities for N96.8 million.
Sterling Bank exchanged 13 million worth N34.5 million, while Transcorp transacted 12.3 million equities valued at N14.2 million.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
