By Dipo Olowookere

The Nigerian Exchange (NGX) Limited began the new week bearish after it shed 0.21 per cent on Monday due to profit-taking.

Business Post reports that four of the five key sectors of Customs Street tracked pointed southwards yesterday, as only the energy index gained 0.10 per cent.

The insurance counter lost 1.38 per cent, the banking space depreciated by 0.81 per cent, the industrial goods sector weakened by 0.45 per cent, and the consumer goods segment declined by 0.02 per cent.

As a result, the All-Share Index (ASI) retreated by 428.63 points to 200,484.43 points from 200,913.06 points, and the market capitalisation moderated by N275 billion to N128.694 trillion from N128.969 trillion.

The market breadth index was negative during the session, as there were 27 price gainers and 34 price losers, representing weak investor sentiment.

Secure Electronic Technology depreciated by 10.00 per cent to N1.17, May and Baker slumped by 9.42 per cent to N38.00, Legend Internet tumbled by 8.67 per cent to N6.85, Cutix shrank by 8.29 per cent to N3.21, and Fortis Global Insurance lost 7.97 per cent to trade at N1.27.

On the flip side, Austin Laz appreciated by 9.98 per cent to N4.41, Zichis gained 9.93 per cent to quote at N15.16, Trans Nationwide Express soared by 9.65 per cent to N2.84, The Initiates advanced by 9.60 per cent to N21.70, and Learn Africa improved by 9.41 per cent to N9.30.

The bourse closed with a turnover of 593.3 million shares valued at N25.7 billion executed in 60,311 deals compared with the 595.2 million shares worth N24.5 billion traded in 43,440 deals in the previous trading day.

This showed that the value of transactions went up by 4.90 per cent, the number of deals increased by 38.84 per cent, and the volume of trades decreased by 0.32 per cent.

Access Holdings finished the session as the most active with 86.6 million units sold for N2.3 billion, First Holdco exchanged 84.6 million units worth N4.3 billion, Secure Electronic Technology traded 31.1 million units valued at N37.4 million, Fidelity Bank transacted 26.7 million units worth N512.4 million, and Zenith Bank traded 26.1 million units valued at N2.6 billion.

By Modupe Gbadeyanka

The deadline for filing income tax returns for the 2025 fiscal year has been extended by the Lagos State Internal Revenue Service (LIRS) by two weeks.

The Head of Corporate Communications for LIRS, Mrs Monsurat Amasa-Oyelude, in a statement on Monday, said the new deadline is April 14, 2026, and no longer March 31, 2026.

The tax filing is for individuals living in the metropolis, and they have been charged to give priority to the timely filing of their annual income tax returns, noting that compliance should be embedded as a routine personal practice.

The chairman of LIRS, Mr Ayodele Subair, explained that the statutory deadline for filing individual annual tax returns is March 31 every year, adding that the extension is intended to provide individuals with additional time to complete and submit accurate tax returns.

He also reiterated that electronic filing through the LIRS eTax platform remains the only approved method for submitting annual returns, as manual filings have been completely phased out. Individuals are therefore required to file their returns exclusively through the LIRS eTax portal: https://etax.lirs.net.

Describing the platform as secure, user-friendly, and accessible 24/7, Mr Subair advised individuals to ensure that their TaxID (Tax Identification Number) is correctly captured in their submissions.

By Adedapo Adesanya

Brent oil price increased by 1.3 per cent or $1.48 to $114.00 per barrel on Monday as the Iran war entered its fifth week, with President Donald Trump threatening to destroy the Islamic Republic’s oil wells.

Brent has soared about 55 per cent in March, a record for the contract, dating back to its inception in 1988. The previous monthly record was a 46 per cent gain in September 1990 during the first Gulf War.

Also, the US West Texas Intermediate (WTI) futures were up $3.45 or 3.5 per cent to $103.09 a barrel, as Mr Trump vowed to target power plants and Kharg Island unless the Strait of Hormuz was reopened. Iran’s effective closure of the Strait of Hormuz, ⁠a chokepoint for roughly a fifth of global oil and gas supplies, continues to be a point of focus.

In an interview with the Financial Times on Sunday, the US president said his preferred option in Iran would be to “take the oil,” likening it to the country’s actions in Venezuela, where the US effectively gained control over the country’s oil sector after the capture of its leader, Nicolás Maduro.

His remarks come as the conflict between the US, Israel, and Iran entered another week, with attacks spreading across the region, heightening risks to energy infrastructure and driving a sharp rally in crude prices.

Previously, the American president said he would pause attacks on Iran’s ​energy network until April 6 and ​that the US and Iran have been ⁠meeting “directly and indirectly”, but Iran described US proposals to end a month of war in the Middle East as “unrealistic, illogical and excessive” and unleashed more missiles on Israel.

Meanwhile, US ​Treasury Secretary Scott Bessent said on Monday that the global oil market is well supplied, with more boats travelling through the Strait of Hormuz. Two Chinese container ships sailed through the ​strait on their second attempt to leave the Gulf after turning back on Friday.

Market analysts noted that the potential for further disruption through the Bab el-Mandeb Strait, a key shipping channel linking the Gulf of Aden to the Red Sea, could push prices even higher.

Yemen’s Houthis said Saturday they had launched missiles at Israel, marking their first direct involvement in the US- Israel war against Iran.

Prices eased a bit after the Group of Seven (G7) finance leaders signalled ​readiness to act to stabilise energy markets. Alongside their central banks, they indicated readiness to take “all necessary measures” to safeguard energy market stability ​and limit broader economic spillovers from recent volatility.