Economy
CBN Sells N100bn OMO Bills to Soak Excess Liquidity
By Dipo Olowookere
A day after it sold some treasury bills at the primary market, the Central Bank of Nigeria (CBN) on Thursday auctioned OMO bills to investors.
At Wednesday’s PMA, the apex bank auctioned N88.9 billion worth of T-Bills in 91-day, 182-day and 364-day maturities, receiving subscriptions valued at N330.7 billion, with rates slightly cut.
The 91-day bill was trimmed to 1.79 percent from 1.80 percent, the 182-day bill was cut to 1.91 percent from 2.04 and the 364-day bill was dropped to 3.39 percent from 3.75 percent.
About 24 hours later, the CBN took to the Open Market Operations (OMO) bills worth N100 billion in an effort to manage the excess liquidity at the market space.
The investment tool was auctioned across 89-day, 194-day and 341-day tenors. Though they were all oversubscribed, the level was low when compared with the previous day’s PMA.
Of the N100 billion worth of OMO bills offered for sale by the banking industry watchdog, the market participants, who were mainly foreign portfolio investors, submitted bids valued at N177.4 billion.
Business Post reports that the central bank offered for sale N10 billion worth of the 89-day bill, another N10 billion worth of the 194-day bill and N80 billion worth of the 341-day.
When the subscriptions were analysed, investors staked N14.1 billion on the 89-day instrument, N15.3 billion on the 194-day instrument and N148.0 billion on the 341-day instrument.
For the allotment, the bank sold the exact amount it auctioned to investors with the stop rates left untouched at 4.95 percent for the three-month tenor, at 7.79 percent for the six-month maturity and at 8.99 percent for the 12-month bill.
Meanwhile, rates at the money market crashed to single-digit yesterday as anticipated as a result of the OMO and Swap maturities of about N157 billion that hit the system.
Business Post reports that the average rates depreciated by 9.15 percent to 3.15 percent. This was caused by the 9.00 percent crash in the Open Buy Back (OBB) rate and the 9.30 percent decline in the Overnight (OVN) rate.
When market activities were wrapped up, the OBB rate dropped to 2.80 percent from 15.00 percent, while the OVN rate fell to 3.60 percent from 16.00 percent.
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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