Economy
Nigerian Stocks Recover 1.63% After CBN Forbearance Scare
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited regained 1.63 per cent on Wednesday as banks began to update the investing community on their plans to exit the forbearance regime of the Central Bank of Nigeria (CBN).
A few days ago, the banking sector regulator suspended the payment of dividend to shareholders, issuance of bonuses to directors and investment in foreign subsidiaries until affected financial institutions cleaned up their balance sheet.
The prospect of not receiving dividends triggered sell-offs in banking equities and other Nigerian stocks on Monday and Tuesday, but after banks began to assure shareholders of exiting the regime this year, tension started to calm.
Business Post observed that apart from the consumer goods index, which depreciated by 0.16 per cent, every other sector closed higher at midweek.
The energy space grew by 7.49 per cent, the commodity counter appreciated by 5.63 per cent, the banking sector rose by 3.25 per cent, the insurance industry went up by 2.02 per cent, and the industrial goods space improved by 0.09 per cent.
As a result, the All-Share Index (ASI) gained 1,876.71 points to settle at 116,786.87 points compared with Tuesday’s 114,910.16 points and the market capitalisation soared by N1.184 trillion to N73.681 trillion from N72.497 trillion.
A total of 640.1 million shares valued at N26.0 billion exchanged hands in 19,727 deals during the session versus the 721.8 million shares worth N22.0 billion transacted in 22,100 deals a day earlier, indicating a decline in the trading volume and number of deals by 11.32 per cent and 10.74 per cent, respectively, and a rise in the trading value by 18.18 per cent.
Zenith Bank topped the activity chart on Wednesday with 149.9 million stocks sold for N7.2 billion, Access Holdings traded 48.6 million equities worth N1.0 billion, UBA transacted 43.0 million shares valued at N1.5 billion, Nigerian Breweries exchanged 37.7 million stocks for N2.2 billion, and Fidelity Bank traded 30.8 million equities worth N568.5 million.
The biggest price gainer for the day was NEM Insurance with a 10.00 per cent growth to sell for N16.50, Beta Glass firmed up by 9.99 per cent to N250.95, Seplat Energy appreciated by 9.78 per cent to N5,450.00, Thomas Wyatt grew by 9.73 per cent to N2.03, and Linkage Assurance increased by 9.56 per cent to N1.49.
Eterna suffered the heaviest loss after it crumbled by 10.00 per cent to N38.70, Secure Electronic Technology dropped 9.68 per cent to trade at 56 Kobo, Legend Internet lost 9.66 per cent to quote at N6.55, FTN Cocoa declined by 6.07 per cent to N2.63, and Guinea Insurance slipped by 5.00 per cent to 76 Kobo.
At the close of transactions, Customs Street recorded 38 price gainers and 30 price losers, implying a positive market breadth index and strong investor sentiment.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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