By Dipo Olowookere

The 14th president and chairman of the council of the Chartered Institute of Stockbrokers (CIS), Ms Fiona Ahimie, has promised to position the organisation as a leading professional body contributing meaningfully to the growth and development of the Nigerian capital market and the national economy.

She made this commitment during her swearing-in ceremony on Thursday, June 25, 2026, as the first female leader of the 34-year-old institute.

Ms Ahimie also pledged to strengthen professional excellence, deepen stakeholder engagement, expand financial literacy, promote youth and women’s development, and drive innovation and digital transformation.

The event, which was attended by several capital market stakeholders, was also used as a send-off ceremony for Ms Ahimie’s predecessor, Mr Oluropo Samuel Dada, in recognition of his exemplary leadership and dedicated service to the organisation over the past two years.

Present were Nigeria’s Vice President, Mr Kashim Shettima, represented by the Special Adviser to the President on Economic Affairs, Mr Tope Fasua; the Minister of Women Affairs & Social Development, Ms Imaan Sulaiman-Ibrahim; the Governor of Ekiti State, Mr Biodun Abayomi Oyebanji; the Governor of Lagos State, Mr Babajide Sanwo-Olu, represented by the Commissioner for Finance, Mr Abayomi Oluyomi; the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso, represented by the Director of Financial Policy & Regulations at the CBN, Ms Rita Ijeoma Sike; the Director-General of the Securities and Exchange Commission, Mr Emomotimi Agama; the Chairman of First Holdco, Mr Femi Otedola, represented by the chief executive First Holdco, Mr Adebowale Oyedeji; the former DG of the Nigerian Exchange (NGX), formerly known as the Nigerian Stock Exchange (NSE), Ms Ndi Okereke-Onyiuke; and the chairman of NGX Group, Mr Umaru Kwairanga, amongst others.

By Adedapo Adesanya

The Organisation of the Petroleum Exporting Countries and its allies (OPEC) agreed to raise oil output again as shipping traffic through the Strait of Hormuz gradually recovers and Persian Gulf producers restore production.

After a virtual meeting on Sunday, the seven-member group said it would raise production by about 188,000 barrels a day in August, marking a fifth straight monthly increase as the cartel continues to unwind production cuts introduced in recent years. The seven countries participating in the increase include Saudi Arabia alongside Russia, Iraq, Kuwait, Algeria, Kazakhstan and Oman.

These seven ​core members of OPEC+ have hiked their output quotas from April through July ​by almost 800,000 barrels per day, but the increase has remained largely on paper because of the US-Israeli war on Iran, ⁠which closed the Strait of Hormuz to tanker traffic for some of the most important OPEC+ members, including Saudi Arabia, Kuwait and ​Iraq.

This expected increase matches the hike agreed for June, which was revised down from an initial 206,000 barrels per day following the exit of the United Arab Emirates (UAE) from the group in May.

This measure will provide an opportunity for the participating countries to accelerate their compensation, the seven countries noted during the meeting.

They also noted that additional voluntary adjustments announced in April 2023 may be returned in part or in full, subject to evolving market conditions and in a gradual manner.

The alliance said it would continue to closely monitor and assess market conditions and have regular monthly meetings, starting on August 2, 2026.

In the meantime, OPEC+ output fell to 33.13 million barrels per day in May, according to OPEC data, from 42.77 million barrels per day in February. It began ​to recover in June thanks to US efforts to help the UAE and other OPEC+ nations export more oil, but is still below pre-war levels.

By Adedapo Adesanya

Three securities lifted the NASD Over-the-Counter (OTC) Securities Exchange by 1.38 per cent on Friday, July 3, with the NASD Security Index (NSI) up by 58.80 points to 4,307.26 points from 4,248.46 points, and the market capitalisation closing higher by N35.30 billion to N2.585 trillion from N2.549 trillion.

The price gainers were led by 11 Plc, which expanded by N20.05 to close at N220.55 per share compared with the previous day’s N200.50 per share, FrieslandCampina Wamco Nigeria Plc increased by N5.36 to N151.82 per unit from N146.46 per unit, and Central Securities Clearing System (CSCS) Plc appreciated by N3.52 to N90.74 per share from N87.22 per share.

Yesterday, the value of transactions surged by 1,431.2 per cent to N160.1 million from the preceding session’s N10.5 million, and the volume of trades rose by 303.7 per cent to 1.8 million units from 440,653 units, while the number of deals decreased by 34.4 per cent to 21 deals from 32 deals.

Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units sold for N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 70.7 million units transacted for N4.9 billion.

GNI Plc was also the most traded stock by volume on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units traded for N415.7 million.