By Dipo Olowookere

The chief executive of the Nigerian Exchange (NGX) Limited has stressed the need to broaden women’s involvement in the capital market.

Speaking on Tuesday at the closing gong ceremony to commemorate International Women’s Day 2026 in Lagos, he submitted that, “When more women participate in the market as investors and professionals, we deepen the market and strengthen the foundation for sustainable growth.”

The NGX Group Plc partnered with the Central Securities Clearing System (CSCS) Plc, and the Women in Management, Business and Public Service (WIMBIZ) to observe the global Ring the Bell for Gender Equality initiative in alignment with the UN Women theme Rights, Justice, Action – For All Women and Girls.

Also addressing participants at the event, the chief executive of NGX Group, Mr Temi Popoola, emphasised the critical role capital markets must play in shaping inclusive economic growth.

“Capital markets are powerful engines for economic transformation. When women participate fully as leaders, entrepreneurs, and investors, markets become stronger, deeper, and more resilient.

“At NGX Group, we remain committed to advancing policies, partnerships, and platforms that expand opportunities for women and accelerate inclusive prosperity,” he said.

On her part, the Minister of State for Foreign Affairs, Mrs Bianca Odumegwu-Ojukwu, commended NGX Group and its partners for advancing gender inclusion through the initiative.

“I congratulate NGX Group and its partners for sustaining this important global movement and for championing gender equality within our financial ecosystem. Together, let us continue to open the doors of opportunity, so the next generation of women can lead with confidence and help transform our world,” she said.

Also, the First Lady of Imo State, Mrs Chioma Uzodimma, called for collective action to expand opportunities for women and girls.

“As we sound the NGX Gong today, let it symbolise our shared pledge to protect every girl child, expand opportunities for every woman, and build an inclusive economy where every woman and girl can flourish,” she said.

The Regional Industry Manager for Financial Institutions at the International Finance Corporation (IFC) for Central Africa and Anglophone West Africa, Ms Claude Owona, underscored the role of capital markets in translating gender equality commitments into real economic outcomes.

“Ring the Bell for Gender Equality is both symbolic and practical, because capital markets do not just reflect economies, they shape them. When women have equitable access to finance, leadership opportunities, and safe, inclusive workplaces, companies perform better, and economies grow stronger.

“At IFC, we are proud to partner with NGX Group on market‑driven solutions that expand women’s participation as leaders, entrepreneurs, and employees, recognising that inclusive growth is not aspirational, it is investable, and it is essential for long‑term resilience and shared prosperity,” she said.

Media entrepreneur and founder of EbonyLife Media, Ms Mo Abudu, encouraged women to pursue their ambitions with clarity and confidence.

“For me, it comes down to four things: purpose, passion, progress, and power. Find your purpose, let passion fuel your journey, stay consistent even when challenges arise, and most importantly, stand firmly in your power. Do not shrink,” she said.

Award-winning actor and filmmaker, Ms Funke Akindele, urged women to pursue their ambitions with discipline and courage, saying, “To every woman out there, you can do it.

“But beyond the words, we must put in the hard work, build structure into our businesses, and do things the right way. It takes courage to take the first step even when you’re not ready, courage to stay consistent when no one is clapping, and courage to hold firmly to your vision.”

By Aduragbemi Omiyale

Shareholders of Linkage Assurance Plc who intend to increase their stake in the company can now begin to do so through a rights issue window.

The organisation on Wednesday, March 6, 2026, commenced its N16.3 billion rights issue days after securing approval from the Securities and Exchange Commission (SEC).

Through the exercise, Linkage Assurance is selling to investors a total of 12,320,000,000 ordinary shares of 50 Kobo each at N1.32 per share.

It would be issued to shareholders on the basis of two new ordinary shares for every three ordinary shares held as of Thursday, January 22, 2026.

According to a notice issued by the Nigerian Exchange (NGX) Limited today, the rights issue will close on Thursday, April 23, 2026.

“Trading licence holders are hereby notified that trading in Linkage Assurance Plc’s rights issue of 12,320,000,000 ordinary shares of 50 Kobo each at N1.32 per share on the basis of two new ordinary shares for every existing three ordinary shares held as at the close of business on Thursday, January 22, 2026, opened today, Wednesday, March 11, 2026,” the statement signed by the Head of Issuer Regulation Department of the NGX, Mr Godstime Iwenekhai, said.

Proceeds from the rights issue would be used by Linkage Assurance to meet the required minimum capital introduced by the Nigeria Insurance Industry Reform Act, 2025, and to expand into key areas of insurance business.

By Adedapo Adesanya

Nigeria has suspended the issuance of Premium Motor Spirit (PMS) or petrol import licenses for a second straight month in a move that signals a win for Dangote Refinery.

This development comes as regulators begin enforcing provisions of ​the Petroleum Industry Act (PIA) that allow imports only when domestic supply falls short.

Data from the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) indicated that no import licenses were issued in February, while the Crude Oil Refineries Association of ​Nigeria (CORAN) confirmed to Reuters that none have been issued so far in March, signalling ​a shift towards prioritising local output.

According to Bloomberg, oil marketing firms, including a unit of TotalEnergies SE, Conoil Plc and MRS Nigeria Plc, which imported around one-quarter of the nation’s petroleum in January, had their licenses suspended.

The shift highlights a stronger ⁠intent by the federal government to protect domestic refining and marks a win ​for the Dangote Refinery and other local refineries, which last year sued the NMDPRA and the state ​oil company, the Nigerian National Petroleum Company (NNPC) Limited, to force a halt to imports.

Under the PIA, the regulator may grant import permits only when domestic production is not enough to meet national demand.

There have been previous arguments that issuing licenses was necessary to maintain competition and ​prevent market dominance.

Fuel pump prices have surged by more than 50 per cent since the United States and ‌Israel ⁠began strikes on Iran last week, pushing global oil markets higher.

NMDPRA Spokesperson, Mr George Ene‑Ita, blamed the sharp rise in prices on escalating conflict in the Middle East.

Nigeria’s average daily petrol consumption fell to 56.9 million litres per day ​in February 2026, ​down from 60.2 ⁠million litres in January.

In February, the Dangote Refinery supplied 36.5 million litres of petrol and 8 million litres of ​diesel to the local market, leaving a daily deficit of 20 million litres that was covered by previously imported stock.

According to NMDPRA, these volumes ​were sufficient, ⁠leading to its decision to withhold import licenses.

Mr Eche Idoko, spokesperson for the Crude Oil Refiners Association of Nigeria (CORAN), which has long urged the government to stop ⁠issuing import ​licenses that undermine local refiners’ margins, welcomed the ​regulator’s stance.

“For us, anything that protects local production is a good move. The challenge now is ​to sustain the momentum,” Mr Idoko said.