Economy
Northern Nigeria Flour Mills, Others Pull Down NGX by 0.34%
By Dipo Olowookere
The Nigerian Exchange remained in the bears’ territory on Monday after it further shrank by 0.34 per cent due to continued profit-taking by investors.
The absence of a positive market trigger compounded the woes of Customs Street on the first trading session of the week.
Business Post observed that all the key sectors of the bourse suffered sell-offs during the trading day, though the commodity space closed flat.
The banking sector depreciated by 1.44 per cent, the insurance counter went down by 0.86 per cent, the energy index declined by 0.27 per cent, the consumer goods sector plunged by 0.15 per cent, and the industrial goods industry slumped by 0.07 per cent.
At the close of business, the All-Share Index (ASI) was down by 370.43 points to 108,126.97 points from 108,497.40 points and the market capitalisation tumbled by N230 billion to close at N67.384 trillion versus the previous session’s N67.614 trillion.
Investor sentiment was bearish yesterday after the NGX ended with 17 price gainers and 37 price losers, representing a negative market breadth index.
Northern Nigeria Flour Mills lost 9.99 per cent to trade at N72.55, Eunisell declined by 9.96 per cent to N10.85, Sovereign Trust Insurance weakened by 9.09 per cent to N1.20, Secure Electronic Technology plunged by 7.46 per cent to 62 Kobo, and UPDC REIT slipped by 6.67 per cent to N6.30.
Conversely, Ikeja Hotel gained 10.00 per cent to settle at N12.10, UH REIT expanded by 9.97 per cent to N40.25, PZ Cussons appreciated by 9.26 per cent to N29.50, Consolidated Hallmark went up by 8.85 per cent to N4.18, and DAAR Communications improved by 8.82 per cent to 74 Kobo.
The level of activity increased on Monday, with the trading volume, value, and number of deals going up by 13.34 per cent, 9.52 per cent, and 19.25 per cent, respectively.
This was because investors bought and sold 357.8 million shares worth N9.2 billion in 15,914 deals yesterday versus the 315.7 million shares valued at N8.4 billion traded in 13,345 deals last Friday.
Jaiz Bank topped the activity chart with 48.2 million stocks valued at N161.6 million, Zenith Bank sold 28.2 million equities for N1.4 billion, Universal Insurance traded 18.7 million shares worth N12.7 million, GTCO exchanged 17.9 million shares worth N1.1 billion, and Access Holdings transacted 15.5 million equities valued at N403.6 million.
**Revokes Trading Licences of LMB, Platinum Stockbrokers
By Aduragbemi Omiyale
A stockbroking company, Premium Capital and Stockbrokers Limited, has been fined N5 million for engaging in “unauthorised sale of its clients’ securities.”
A circular issued by the Nigerian Exchange (NGX) Regulation Limited disclosed that the trading licence of the organisation has also been revoked.
In the notice signed by the Head of Market Regulation for NGX RegCo, Chinedu Akamaka, Premium Capital violated Rule 11.9 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), which focuses on the Prohibition of Unauthorised Sale of Securities.
Business Post reports that Premium Capital was not the only stockbroker that had its trading licence withdrawn, as it also affected others.
The licence of LMB Stockbrokers Limited was revoked by NGX RegCo for prolonged inactivity, which falls contrary to Rule 6.4: Revocation of Inactive Dealing Members’ Licences, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), as amended.
The same also affected Platinum Stockbrokers Limited, which has not witnessed activity on the floor of the NGX Limited for a while.
Similarly, the authorised dealing clerkship of Mr Bernard Oluwole Ilori, was taken back with immediate effect in alignment with an earlier determination by the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC), which arose from his involvement in regulatory infractions connected to Mutual Alliance Investment and Securities Limited and resulted in his 10-year ban from the Nigerian capital market since March 25, 2021.
Investors have been “strongly advised not to engage in any activity with the firms” whose trading licenses have been revoked.
By Aduragbemi Omiyale
The securities of DN Tyre and Rubber Plc, and Greif Nigeria Plc have been delisted by the regulatory arm of the Nigerian Exchange (NGX) Group Plc, NGX Regulation Limited.
A statement signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, said the delisting became effective on Thursday, April 9, 2026.
In the notice issued yesterday, it was further disclosed that the action complied with the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking.
According to this clause, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the issuer (listed company) from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, the exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”
It was explained that the shares of the two firms were delisted because they fell below the listing standards.
“The securities of DN Tyre and Rubber Plc and Greif Nigeria have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective Thursday, April 9, 2026, on the grounds that the companies are operating below the listing standards of NGX and their securities are no longer considered suitable for continued listing and trading in the market,” the disclosure noted.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 0.95 per cent on Thursday, April 9, plunging the Unlisted Security Index (NSI) by 37.41 points to 3,893.50 points from 3,930.91 points.
In the same vein, the market capitalisation lost N22.38 billion during the session to N2.329 trillion from the N2.351 trillion it ended at midweek.
The OTC securities exchange was under selling pressure yesterday, resulting in a negative market breadth index after three securities lost weight and one gained weight.
Central Securities Clearing System (CSCS) Plc led the losers’ table after it shed N3.74 to sell at N64.21 per unit versus N67.95 per unit. Food Concepts Plc went down by 19 Kobo to N2.68 per share from N2.87 per share, and Free Range Farms Plc dropped 10 Kobo to settle at 90 Kobo per unit versus N1.00 per unit.
On the flip side, MRS Oil gained N5 to close at N165.00 per share compared with the preceding day’s N160.00 per share.
At the trading session, there was a 23.5 per cent jump in the value of securities to N40.4 million from N32.7 million, but the volume of securities fell by 81.9 per cent to 1.04 million units from 5.7 million units, and the number of deals went down by 29.7 per cent to 26 deals from the preceding session’s 37 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 57.5 million units exchanged for N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
Also, GNI Plc ended the trading day as the most traded stock by volume on a year-to-date basis with the sale of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units worth N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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