Economy
Coronation Securities Helps Clients Understand Real Returns After Inflation—Owadokun
Nigeria’s economy is in a transition phase—marked by ambitious reforms, rising inflation, and a shifting investor landscape. The country recorded a 4.6 per cent GDP growth in Q4 2024, with 2025 projections at 3.6 per cent, driven by exchange rate unification, fiscal reforms, and a more market-driven policy approach.
At the same time, inflation—at 22.97 per cent as of May 2025—remains a concern. The Naira, while stabilising, still presents FX-related risks. Despite these headwinds, investors are beginning to regain confidence, and market reforms are gradually unlocking opportunities, particularly for digital-first institutions focused on access, trust, and financial empowerment.
In this interview shared with Business Post, the deputy chief executive of Coronation Securities, Mr Segun Owadokun, highlighted how the firm is positioning itself and its clients for long-term growth, navigating uncertainty, and building leadership in Nigeria’s capital markets. It has been edited for clarity.
What strategies are you deploying to help clients preserve and grow wealth in a high-inflation environment?
Our strategy is focused on preserving real returns. We offer high-yield fixed income options like commercial papers and corporate bonds as well as strong equities with capital appreciation potential and consistent dividends. But more than just picking the right products, we help clients understand their real returns after inflation. We combine this with continuous investor education and active portfolio tracking, so clients stay nimble in a fast-moving market.
Has the unification of exchange rates influenced investor sentiment and portfolio strategy?
Absolutely. The FX unification has introduced more clarity and reduced the uncertainty that plagued investors for years. We’re already seeing renewed interest from foreign portfolio investors—this is key for liquidity and pricing efficiency. Clients can now manage currency risks more transparently, and that strengthens confidence. The FX reform is foundational—it’s building a more predictable investment environment.
What measures are in place to strengthen investor confidence during periods of economic uncertainty?
Investor confidence comes from consistency and clarity. At Coronation Securities, we provide timely insights, personalized advisory, and investor education. We run webinars, thought pieces, and send regular market updates that help clients understand the “why” behind our strategy. When clients feel informed and supported—even in volatility—they stay invested with confidence.
In what ways is Coronation Securities leveraging technology to enhance access and improve client engagement?
Technology is at the centre of how we engage. Our Coronation Wealth App and eBusiness Suite allow real-time trading, seamless onboarding, and full portfolio visibility from anywhere. We’ve also built a robust API hub that allows digital partners and aggregators to embed our services in their platforms—extending access to underserved audiences. As Nigeria’s digital-first capital markets platform, we’re rethinking access, efficiency, and scale.
Can you elaborate on your efforts to promote financial literacy, especially among retail and emerging investors?
We’re passionate about empowering informed investors. That’s why we launched the Coronation Investment Academy—a platform that simplifies financial concepts and helps new and seasoned investors build their knowledge base. We complement this with webinars, newsletters, articles, and partnerships with schools, youth groups, and regulators. For us, it’s about inclusion, empowerment, and building long-term investor confidence.
What advice does Coronation Securities provide to clients affected by infrastructure deficits and high operating costs?
We help clients, both businesses and individuals, stay resilient. For businesses, we recommend maintaining liquidity buffers, deploying capital into flexible, short-term fixed income instruments, and hedging where needed.
For individuals, we guide them toward conservative, yield-driven investments that protect capital and ensure flexibility. In volatile markets, agility and cash management are everything.
What strategies are being used to attract and engage younger Nigerians in wealth-building and investment?
At Coronation Securities, we have adopted a three-pronged approach to engage younger Nigerians in wealth creation, built around the philosophy of “Learn, Play, and Invest.” First, we launched the Coronation Investment Academy, an educational platform designed to bridge the knowledge gap by simplifying investment concepts and promoting financial literacy. Once users grasp the fundamentals, they transition to the Coronation Fantasy League App – a gamified, real-time simulation that allows them to build virtual investment portfolios using actual market data. It is a safe, engaging way to practice investing without risking real money. The final step is onboarding them onto the Coronation Wealth App, our fully digital investment platform that allows users to trade and invest seamlessly in the Nigerian capital market from anywhere. This ecosystem not only educates but also empowers young investors to take charge of their financial future in a fun, accessible, and practical way.
How are ESG principles reflected in your investment advisory and product development?
ESG is no longer a cliché – it is becoming central to how we approach investments. At Coronation Securities, we are gradually embedding ESG principles into our advisory process. We have started integrating ESG screening into our equity research and are actively guiding clients towards emerging opportunities like green bonds and sustainable finance instruments. While corporate governance has always been a key pillar in our analysis, we are now seeing growing investor interest in broader social and environmental factors, such as workplace diversity, product safety, and climate responsibility. Our clients increasingly want to align their portfolios with their values, and we are right there with them. For us, it is not just about financial returns anymore – it is about making a meaningful impact through smarter and more responsible investing.
What risk management practices help safeguard client portfolios amid current macroeconomic risks?
At Coronation Securities, we take a proactive and disciplined approach to risk management. Our dedicated risk and investment teams continuously monitor market dynamics, conduct regular stress testing, and adjust portfolio strategies to anticipate and respond to potential shocks. We emphasise diversification, real-time scenario analysis, and dynamic asset allocation to cushion against volatility. By staying ahead of economic trends and maintaining strong internal controls, we aim to ensure our clients’ portfolios remain resilient, even in volatile macroeconomic environments.
Could you share recent innovations tailored to today’s market challenges?
We’ve launched a Fixed Income Trading Desk to give clients access to high-yield, short-term products. Our digital platforms now feature tailored investment recommendations and thematic watchlists—helping clients act swiftly and strategically.
How does Coronation Securities navigate the evolving regulatory landscape to ensure compliance and investor protection?
We maintain direct engagement with regulators and run rigorous internal audits. Continuous training and transparent governance ensure we manage client assets with integrity and protect investors at all times. Our strong governance framework guarantees that client assets are managed with the highest level of integrity and transparency, safeguarding investor interests at all times.
Are there any strategic partnerships that Coronation Securities is leveraging to enhance product offerings or market reach? Absolutely. Our collaborations with fintechs and ecosystem players help us scale offerings, improve execution, and reach new segments. These partnerships keep us agile, innovative, and deeply connected across Nigeria’s financial landscape.
What is your outlook for Nigeria’s investment market over the next 3 to 5 years?
We’re optimistic. Economic reforms are gaining traction—fueling deeper market participation, diverse products, and foreign capital inflows. While fixed-income yields may normalize, equities in banking, telecoms, and FMCG will shine. Digital evolution will continue democratizing access for more Nigerians.
What practical advice would you offer to new and existing investors looking to capitalize on opportunities in Nigeria’s current economic environment?
Our advice is simple: Stay informed. Diversify. Think long term. Spread investments across sectors and work with trusted advisors like Coronation Securities. In a reforming economy, disciplined and research-based investing is the best way to unlock opportunity.
By Dipo Olowookere
The level of activity at the Nigerian Exchange (NGX) shrank last week after a turnover of 4.373 billion shares worth N97.783 billion in 110,736 deals compared with the 6.617 billion shares worth N113.224 billion executed in 109,590 deals in the preceding week.
It was observed that the financial services industry led the activity chart by volume with 2.252 billion units sold for N47.204 billion in 44,808 deals, contributing 51.49 per cent and 48.27 per cent to the total trading volume and value, respectively.
The ICT sector traded 1.118 billion equities worth N13.148 billion in 10,413 deals, and the energy segment exchanged 233.891 million stocks valued at N4.726 billion in 7,515 deals.
eTranzact, Access Holdings, and FCMB accounted for 1.921 billion shares worth N22.218 billion in 9,558 deals, contributing 43.93 per cent and 22.72 per cent to the total trading volume and value apiece.
The best-performing equity was Morison Industries with a price appreciation of 32.49 per cent to sell for N4.69, Mecure Industries expanded by 27.35 per cent to N37.95, Japaul gained 26.27 per cent to finish at N2.66, Sovereign Trust Insurance improved by 17.24 per cent to N3.40, and PZ Cussons chalked up 16.19 per cent to settle at N47.00.
On the flip side, Eterna lost 14.93 per cent to quote at N30.20, UAC Nigeria declined by 14.26 per cent to N83.00, eTranzact shed 10.00 per cent to end at N12.60, Transcorp Hotels depreciated by 9.95 per cent to N155.60, and Chellarams crumbled by 9.90 per cent to N13.20.
In the five-day trading week, 49 equities appreciated versus 55 equities a week earlier, 41 shares depreciated versus 29 share in the previous week, and 57 stocks closed flat versus 63 stocks in the preceding week.
At the close of business for the week last Friday, the All-Share Index (ASI) was up by 1.63 per cent to 149,433.26 points and the market capitalisation rose by 1.64 per cent to N95.264 trillion.
In the same vein, all other indices finished higher apart from the banking, AFR Div. Yield, MERI Growth, MERI Value, energy, sovereign bond, and commodity indices, which depreciated by 0.12 per cent, 0.75 per cent, 1.07 per cent, 0.27 per cent, 0.13 per cent, 2.02 per cent, and 0.49 per cent, respectively.
By Adedapo Adesanya
The Federal Inland Revenue Service (FIRS) has issued a statement providing further clarifications following comments and reports on the recent memorandum of understanding between Nigeria and France on taxation.
The MoU, signed on December 10, 2025, at the French Embassy in Abuja by the chairman of FIRS, Mr Zacch Adedeji and French Ambassador, Mr Marc Fonbaustier, on behalf of France’s Direction Générale des Finances Publiques (DGFiP), focuses on key areas, including digital transformation, workforce development, information exchange, transfer pricing, and tackling base erosion and profit shifting.
However, the MoU has been met with resistance from opposition coalition party African Democratic Congress (ADC) as well as Northern elders, which both raised serious questions about transparency, national sovereignty and the safety of Nigerian consumers’ data.
In response, the tax authority, which will become known as Nigerian Revenue Service (NRS) from next year, emphasised that the deal does not grant France access to Nigerian taxpayer data, digital systems, or any element of the country’s operational infrastructure.
“All existing Nigerian laws on data protection, cybersecurity, and sovereignty remain fully applicable and strictly enforced. The NRS, like its predecessor, FIRS, places the highest premium on national security and maintains rigorous standards for the protection of all taxpayer information.”
It said similar MoUs are signed by tax administrations around the world to promote collaboration, knowledge sharing, and the adoption of global best practices.
“The DGFIP is among the world’s most advanced tax authorities, with over a century of institutional experience and deep expertise in digital transformation, taxpayer services, governance, and public finance.
“This partnership simply enables Nigeria to learn from that experience. It is advisory, non-intrusive, and entirely under Nigeria’s control.
“Contrary to misconceptions, the MoU does not displace local technology providers, FIRS and the emerging Nigeria Revenue Service (NRS) continue to work closely with Nigerian innovators such as NIBSS, Interswitch, Paystack, and Flutterwave. The MoU does not include the provision of technical services; it is limited to knowledge sharing, institutional strengthening, workforce development, policy support, and best-practice guidance.
“We welcome robust public engagement on tax reforms, but such conversations must reflect the actual content and purpose of the agreement. Rather than undermining Nigeria’s sovereignty, this MoU strengthens it by helping to build a modern, capable, globally competitive tax administration one firmly in command of its systems, data, and strategic direction.
“FIRS remains committed to transparency, professionalism and partnership that advance Nigeria’s long-term economic development,” it said in a statement.
By Adedapo Adesanya
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has issued permits to 28 companies under Nigerian Gas Flare Commercialisation Programme (NGFCP), a scheme that aims to end routine gas flaring to cut carbon emissions and use some of the gas to generate power.
Gas flaring is the controlled burning of natural gas that is released during oil extraction. The initiative marks a major step toward ending flaring and monetising wasted gas.
The projects could capture 250 to 300 million standard cubic feet per day (mmscfd) of gas currently flared, cut about 6 million tonnes of CO₂ annually, and unlock nearly 3 gigawatts of power generation potential, an NGFCP document showed.
Nigeria expects the initiative to attract up to $2 billion in investment and create more than 100,000 jobs. It could also produce 170,000 metric tonnes of LPG annually, providing clean cooking access for 1.4 million households.
The permits follow a competitive bid round that awarded 49 flare sites to 42 bidders after the programme was restructured post-COVID-19 and the Petroleum Industry Act.
Speaking on this, Mr Gbenga Komolafe, head of the NUPRC, during the presentation of the certificates to the 28 companies said, “The NGFCP is a pillar in our quest to eliminate routine flaring, reduce emissions, and enhance Nigeria’s global credibility in energy transition commitments.”
The programme aligns with Nigeria’s Energy Transition Plan and aims to turn flare gas from an environmental liability into an economic asset.
The 28 companies have signed key agreements, including Connection, Milestone Development and Gas Sales Agreements, and now qualify for permits to access flare gas.
Producers will benefit from reduced liabilities, improved Environmental, Social, and Governance (ESG) performance and alignment with the government’s decarbonisation agenda.
Development partners, including Power Africa, KPMG, World Bank’s Global Gas Flaring Reduction initiative, USAID and financiers, have supported the programme with technical and commercial frameworks.
Mr Komolafe said while the permits mark a milestone, engineering, construction and financing must begin in earnest.
“The real work starts now,” the official added. “This programme will create economic, industrial and environmental value while strengthening Nigeria’s energy transition.”
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