Economy
Market Sheds N35bn as Traders Offload Banking Stocks
Dipo Olowookere
Profit-taking activities trimmed the value of the Nigerian Exchange (NGX) Limited by N35 billion on Friday, closing at N26.686 trillion compared with the previous day’s N26.721 trillion.
Business Post reports that traders found a reason to minimise their exposure to banking stocks and the loss in that sector brought down the market by 0.13 per cent at the close of transactions.
As a result, the All-Share Index (ASI), which measures the performance of the exchange, decreased by 65.06 points yesterday to 49,475.42 points from the 49,540.48 points recorded on Thursday.
Of the five key sectors of the bourse tracked, only the banking counter ended in the red territory as it lost 1.39 per cent. The insurance space grew by 0.65 per cent, the consumer goods sector appreciated by 0.02 per cent, while the industrial goods and energy indices closed flat.
Investors’ attitude to the local equity market remained lackadaisical on Friday as the activity level further waned due to the decline in the trading volume, value and number of deals by 35.87 per cent, 9.04 per cent and 4.48 per cent respectively.
A total of 107.5 million shares worth N1.2 billion exchanged hands in 3,303 deals yesterday compared with the 167.6 million shares worth N1.3 billion transacted a day earlier in 3,458 deals.
FBN Holdings finished the session as the most active stock as it sold 12.0 million units valued at N120.7 million, Zenith Bank exchanged 12.0 million units worth NN235.9 million, Access Holdings transacted 11.4 million units for N98.3 million, UBA sold 9.1 million units valued at N66.5 million, while GTCO traded 6.7 million units worth N131.6 million.
Regency Assurance topped the losers’ chart on the last trading session of the week with a loss of 7.41 per cent to quote at 25 Kobo, Unity Bank fell by 6.98 per cent to 40 Kobo, Access Holdings dropped 5.14 per cent to N8.30, Cornerstone Insurance depreciated by 4.76 per cent to 60 Kobo, while UBA waned by 4.50 per cent to close at N7.10.
After appreciating by 8.97 per cent, NEM Insurance ended the trading day on top of the gainers’ log to sell at N5.59 and was trailed by Academy Press, which improved by 6.80 per cent to N2.20. Japaul grew by 3.70 per cent to 28 Kobo, Cadbury Nigeria expanded by 3.00 per cent to N13.75, while Wema Bank stretched by 1.76 per cent to N3.46.
At the close of trades, the market breadth was negative with 13 price losers and nine price gainers, indicating a weak investor sentiment.
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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