By Dipo Olowookere

The trio of Deap Capital Management & Trust, Access Holdings, and Zenith Bank led the activity chart of the Nigerian Exchange (NGX) Limited last week.

In the five-day trading week, Customs Street posted a total turnover of 4.652 billion shares worth N193.326 billion in 286,751 deals compared with the 3.860 billion shares valued at N128.581 billion traded in 240,463 deals a week earlier.

According to data, financial services equities dominated the activity chart with 2.782 billion units sold for N74.063 billion in 104,325 deals, contributing 59.81 per cent and 38.31 per cent to the total trading volume and value, respectively.

Services stocks recorded the sale of 573.189 million units worth N7.177 billion in 28,784 deals, and consumer goods shares exchanged 317.667 million units valued at N24.027 billion in 33,280 deals.

Deap Capital, Access Holdings, and Zenith Bank accounted for 980.253 million shares worth N30.182 billion in 25,390 deals, contributing 21.07 per cent and 15.61 per cent to the total trading volume and value apiece.

Business Post reports that 79 equities appreciated versus 71 equities in the previous week, as 27 stocks depreciated versus 35 stocks in the previous week, while 42 shares closed flat, the same as the previous week.

Zichis was the best-performing stock after it gained 60.71 per cent to trade at N10.80, Union Dicon appreciated by 60.15 per cent to N20.90, DAAR Communications grew by 55.26 per cent to N2.95, Fortis Global Insurance rose by 50.00 per cent to 39 Kobo, and John Holt grew by 45.21 per cent to N10.60.

On the flip side, Abbey Mortgage Bank lost 26.42 per cent to quote at N11.00, Sovereign Trust Insurance shrank by 17.16 per cent to N2.80, Ecobank declined by 13.29 per cent to N45.00, SAHCO went down by 11.59 per cent to N135.00, and Austin Laz depleted by 11.11 per cent to N4.80.

Last week, the All-Share Index (ASI) and the market capitalisation appreciated by 6.16 per cent to 182,313.08 points and N117.027 trillion, respectively.

In the same vein, all other indices finished higher with the exception of the sovereign bond index, which fell by 0.01 per cent.

By Adedapo Adesanya

Nigeria’s security crisis is spreading southwards as jihadists and armed gangs step up attacks in parts of the country largely untouched by decades of violence.

Over the last few months, there had been an alarming increase in violence, especially in relatively low-conflict areas. The Nigerian government has long been fighting an array of jihadist groups, including Boko Haram and IS-linked factions, but largely in the North-East. However, some new groups are gaining footholds, spreading south.

Earlier this month, 162 people were killed in an attack in Kwara State. The gruesome murder in the central part of the country last week highlighted the fundamental shift in the nature and geography of the insecurity crisis facing Africa’s most populous nation.

The increased attacks come even as President Bola Tinubu declared a security emergency and the United States deployed troops to the nation, as part of cooperation efforts to tackle insecurity.

This weekend, at least 32 people were killed after gunmen launched simultaneous attacks on three separate communities in Niger State, which has the Federal Capital Territory (FCT) to the southeast and Kwara State to its southwest.  The communities of Tunga-Makeri, Konkoso, and Pissa, all located in the Borgu area of Niger state, were targeted in early raids on Saturday, February 14.

According to Niger State police spokesman, Mr Wasiu Abiodun, six people died in the assault on Tunga-Makeri, adding that it was not clear how many people had been abducted.

Mr Abiodun said that Konkoso was also attacked, but gave no other details other than that security teams have been sent to the scene and a rescue operation for those who were abducted was under way.

A resident, Mr Abdullahi Adamu, from Konkoso, reportedly said 26 people were killed in the attack there, describing how the attackers were “operating freely without the presence of any security”.

The attack on Tungan Makeri reportedly began on Friday, when over 200 armed men stormed the village, shooting sporadically and setting several houses on fire.

There were also reports that an Air Force aircraft was sighted around Tungan Makeri after the initial attack, a development some residents believe forced the bandits to withdraw from the village.

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited appreciated by 2.06 per cent on Friday, amid a rush for local equities due to encouraging earnings of companies for 2025.

Business Post reports that the buying pressure was across the key sectors of Customs Street yesterday, with the banking index growing by 2.49 per cent. The energy industry appreciated by 2.05 per cent, the consumer goods counter grew by 0.78 per cent, the insurance space improved by 0.64 per cent, and the industrial goods sector expanded by 0.44 per cent.

At the close of trades, the market capitalisation went up by N2.367 trillion to N117.027 trillion from N114.660 trillion, and the All-Share Index (ASI) gained 3,687.45 points to close at 182,313.08 points compared with the previous day’s 178,625.63 points.

Cornerstone Insurance, Infinity Trust, and Nestle Nigeria appreciated by 10.00 per cent each to sell at N6.38, N9.90 and N2,662.00, respectively, while Okomu Oil rose by 9.99 per cent to N1,327.00, with RT Briscoe up by 9.97 per cent to N17.42.

Conversely, SAHCO depleted by 10.00 per cent to M135.00, Guinness Nigeria lost 9.97 per cent to trade at N103.00, Omatek shrank by 9.39 per cent to N2.99, NPF Microfinance Bank decreased by 6.51 per cent to N5.60, and eTranzact slipped by 6.33 per cent to N10.80.

A total of 53 stocks ended in the green side and 33 stocks finished in the red side, representing a positive market breadth index and strong investor sentiment.

Data showed that 936.4 million shares valued at N52.7 billion were transacted in 50,068 deals on Friday versus the 698.3 million shares worth N28.438 billion traded in 50,886 deals on Thursday, indicating a rise in the trading volume and value by 34.10 per cent, and 85.56 per cent apiece, and a slip in the number of deals by 1.61 per cent.

First Holdco closed the session as the most active equity with 106.3 million units worth N5.1 billion, Zenith Bank transacted 72.6 million units valued at N5.7 billion, United Capital traded 45.4 million units for N963.2 million, GTCO sold 45.0 million units worth N4.9 billion, and Fidelity Bank exchanged 31.4 million units valued at N639.0 million.