Economy
Customs Street Depletes by N22bn as Investors Liquidate Financial, Energy Stocks
By Dipo Olowookere
The first trading session of this week at Customs Street ended with a marginal 0.03 per cent loss on Monday following profit-taking in financial and energy sectors.
The counters closed lower during the session as investors re-caliberated their portfolios due to the instability in the global financial markets.
The All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited was down yesterday by 33.72 points to 104,529.62 points from 104,563.34 points and the market capitalisation depleted by N22 billion to N65.685 trillion from N65.707 trillion.
Business Post reports that the banking index crumbled by 1.99 per cent, the insurance sector depreciated by 0.36 per cent, and the energy counter lost 0.19 per cent, while the consumer goods space improved by 0.08 per cent, with the industrial goods and commodity indices closing flat.
It was observed that despite the disappointing outcome, the market breadth index was positive after the bourse ended with 28 price gainers and 24 price losers, representing a strong investor sentiment.
International Energy Insurance lost 9.76 per cent to trade at N1.48, Consolidated Hallmark shed 8.33 per cent to N2.75, Japaul went down by 7.46 per cent to N1.86, Chams dropped 6.98 per cent to N2.00, and Neimeth eased by 6.94 per cent to N2.68.
Conversely, Abbey Mortgage Bank rose by 9.95 per cent to N6.74, UPDC gained 9.82 per cent to sell for N3.13, Guinea Insurance increased by 9.52 per cent to 69 Kobo, VFD Group jumped by 9.46 per cent to N96.00, and Sovereign Trust Insurance soared by 9.41 per cent to 93 Kobo.
Yesterday, a total of 428.2 million shares worth N10.5 billion exchanged hands in 14,583 deals versus the 380.0 million shares worth N10.1 billion traded in 10,791 deals last Friday, implying a rise in the trading volume, value, and number of deals by 12.68 per cent, 3.96 per cent and 35.14 per cent, respectively.
The activity chart was topped by Access Holdings with 56.0 million equities sold for N1.2 billion, Zenith Bank traded 55.4 million stocks valued at N2.8 billion, Fidelity Bank transacted 39.0 million shares worth N725.9 million, UBA exchanged 33.2 million equities valued at N1.0 billion, and GTCO traded 31.0 million stocks for N2.1 billion.
By Modupe Gbadeyanka
A subsidiary of Stanbic IBTC Holdings Plc, Stanbic IBTC Trustees, has affirmed its leadership in delivering customer-centric fiduciary and investment solutions across the region.
The company said this after it was recently recognised as the Most Customer-Focused Trust and Investment Company of the Year for Nigeria at the 2025 West Africa Innovation Awards (WAIA).
The honour bestowed on the trustee for Customer Service Excellence reinforces its reputation for delivering exceptional client experiences, driven by innovation, integrity, and a deep understanding of the evolving financial needs for their clients.
“Being recognised as the most customer-focused trust and investment company of the year is both humbling and inspiring.
“This award reflects the strong relationships we have built with our clients and our commitment to not only meet expectations but to consistently exceed them through innovative and ethical service delivery,” the chief executive-designate of the organisation, Ms Emi Agaba-Oloja, stated at the award ceremony held in Lagos.
“What sets Stanbic IBTC Trustees apart is our willingness to embrace innovation in a traditionally conservative industry.
“As we work on digital onboarding to bespoke trust solutions, we strive to simplify complex processes and deliver insights that empower our clients.
“Our goal is to make trusteeship more responsive, inclusive, and accessible to Nigerians. A sincere thank you to our clients, partners and the incredible team that continue to drive our success,” she added.
The West Africa Innovation Awards, now in their 14th year, is a leading regional platform that is attended by a wide range of government stakeholders, brand experts, and corporate leaders in West Africa.
As the field of wealth management and trust services undergoes constant transformation, Stanbic IBTC Trustees says it remains at the forefront, redefining standards and demonstrating a commitment to empathy and innovation, stressing that the award reinvigorates a drive to empower clients and protect legacies for future generations.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange increased by 0.27 per cent week-on-week in Week 16 of the 2025 trading year.
Data indicated that the bourse’s market capitalisation rose by N5.15 billion in the four-day trading week to N1.924 trillion from the N1.919 trillion it ended in the previous week and the NASD Unlisted Securities Index (NSI) went up by 8.81 points to 3,286.38 points from the 3,277.57 points recorded in the previous trading week.
The alternative stock exchange opened for business for four days as it closed shop on Friday to celebrate Good Friday, observed by Christians across the globe,
The value of trades in the week was down by 99.4 per cent to N29.35 million from the N4.79 billion recorded in Week 15, and the volume of transactions declined by 99.2 per cent to 1.33 million units from the 171.4 million units in the previous week.
The most active security by value was Central Securities Clearing System (CSCS) Plc with N15.2 million, FrieslandCampina Wamco Nigeria Plc recorded N6.3 million, 11 Plc traded N2.2 million, Nipco Plc posted N1.3 million, and Afriland Properties Plc reported N0.616 million.
Also, CSCS Plc was the most traded instrument by volume with 0.731 million units, FrieslandCampina Wamco Nigeria Plc transacted 0.227 million units, Geo-Fluids Plc recorded 0.218 million, Paintcom Investment Plc traded 0.055 million units, and Afriland Properties Plc exchanged 0.035 million units.
Last week, there were five price gainers led by Newrest Asl Plc, which appreciated by 9.9 per cent to N37.97 per share versus N34.52 per share, UBN Property Plc gained 9.6 per cent to end at N2.17 per unit versus N1.98 per unit, FrieslandCampina Wamco Nigeria Plc rose by 5.9 per cent to N37.64 per share from N35.55 per share, Mass Telecom Innovation Plc improved by 2.5 per cent to 41 Kobo per unit from 40 Kobo per unit, and 11 Plc surged by 1.9 per cent to N245.50 per share from N241.00 per share.
On the flip side, Geo-Fluids Plc slipped by 10.00 per cent to N1.80 per unit from N2.00 per unit, and CSCS Plc depreciated by 2.6 per cent to N22.10 per share from N22.70 per share.
By Adedapo Adesanya
Celebrities, including musicians and influencers, have been warned by the Securities and Exchange Commission (SEC) against promoting unregistered investment schemes following the recent collapse of Crypto Bridge Exchange (CBEX).
In a statement made available to the press on Sunday, the commission stated that those who promote such schemes risk legal consequences.
The warning comes following the enactment of the Investments and Securities Act 2025, signed into law by President Bola Tinubu.
Explicitly defining Ponzi schemes, the new law empowers the SEC to impose a minimum fine of N20 million and a jail term of 10 years on promoters of such schemes.
SEC’s Director-General, Mr Emomotimi Agama, who spoke on the provisions of the new law, said the regulator was collaborating with the Economic and Financial Crimes Commission (EFCC), the Nigeria Police Force, and other law enforcement agencies to investigate and prosecute violators.
“The law also targets influencers and bloggers who promote fraudulent schemes, with clear penalties including imprisonment.
“We are therefore using this medium to warn such persons to desist from promoting unregistered entities,” Mr Agama stated.
He added that following the collapse of CBEX, a digital investment platform that allegedly defrauded Nigerians over billions, the SEC has intensified its crackdown on Ponzi operators.
“We will shut down their operations and the promoters will be made to face the full weight of the law,” he said.
Business Post reports that celebrities and influencers are often major promoters of these schemes and in the past many of them have put Nigerians at losses. One such prominent case was Racksterli, founded by Mr Michael Chidiebere Oti known as Black Gold and was promoted by top Nigerian musicians and actors which promised high return of up to 40 -50 per cent monthly.
However, the platform collapsed in 2021, leaving many investors without their capital or promised returns.
At that time, affected individuals called for the arrest of these celebrities for their roles in endorsing the Ponzi scheme.
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