Economy
Palm Oil Investor Gets N10m from Heritage Bank
By Aduragbemi Omiyale
An investor in the palm oil industry, Mr Joshua Joseph Idiong, has received N10 million from Heritage Bank and the fund is expected to boost his business.
Mr Idiong is into the oil palm processing business. He is the chief executive of the Akwa Ibom State-based Josult Oil Processing Company.
He was one of the contestants of the prestigious The Next Titan Season 7. In fact, he won the edition of the programme themed The Unstoppable.
The Next Titan is an entrepreneurial reality show sponsored by Heritage Bank and aimed to support Micro, Small and Medium Enterprises (MSMEs).
Mr Idiong, who is a graduate of Federal University of Technology Owerri (FUTO) with Bachelor Degree in Environmental Science, emerged winner after competing with Ifeanyi Nkwonta, Chidinma Eriobu and Ifeoma Benjamin at the grand finale in Lagos.
Idiong’s entry on the show was amongst the 18,000 entries, followed by online auditions before the top 16 moved into the Titan House for 10 weeks to compete against top-notch young entrepreneurs in real-life entrepreneurial tasks.
They were grilled by a panel of judges who are technocrats with the perfect blend of entrepreneurial requisite skills comprising Kyari Bukar, co-founder/CEO of Trans-Sahara Investment; Lilian Olubi, CEO of Primera Africa Securities Ltd; Chris Parkes, Chairman/CEO of CPMS Africa and Tonye Cole, co-founder of Sahara Group.
The winner, who highly commended Heritage Bank for its continued supports to entrepreneurs and sponsorship of the Next Titan, said, “Heritage Bank is an amazing bank that has stood strong on this show. My love for Heritage Bank stems from the fact that this is my second time on this show but before I came in, I have learnt so much from the show.
“This means that Heritage Bank is truly affecting the lives and businesses of entrepreneurs positively, alongside the viewers. This is a bank that has differentiated itself from other banks in boosting the strength of SMES in Nigeria.”
Speaking at the grand finale, MD/CEO of Heritage Bank, Mr Ifie Sekibo, stated that the programme easily aligns with the primary focus of the management of Heritage Bank to promote every laudable entrepreneurial idea meant to broaden economic horizon of the country for the benefit of citizens and other residents of Nigeria.
Mr Sekibo who was represented by the Divisional Head, Corporate Communications, Mr Fela Ibidapo, further affirmed, “as a catalytic institution in the empowering of entrepreneurs in the MSME sector, Heritage Bank has continued to make relentless efforts in this space to empower entrepreneurs in Nigeria through championing several empowerment schemes like the HB Innovation Lab Accelerator programme (HB-LAB), Ynspyre Account, Youth Innovative Entrepreneurship Development Programme (YIEDP), Centre for Values in Leadership (CVL) on Young Entrepreneurship Business Training Programme (YEBTP), Young Entrepreneurs and Students (YES) Grant and Nigerian Youth Professional Forum (NYPF), Big Brother Nigeria, Lagos Comic Con, amongst others.”
The Executive Producer of The Next Titan, Mr Mide Kunle-Akinlaja, in his address explained that the project was created and designed as a deliberate attempt to provoke the spirit of entrepreneurship of young Nigerians, not only the contestants on the show but another multitude of aspiring entrepreneurs who can watch the show on TV.
He said that Season 7 was designed to search for business ideas that are immune to any pandemic, innovations that break boundaries and technologies that can survive any lockdown.
“It does not matter what your business idea is all about or its focus, but you must be able to prove that your business has what it takes in terms of ideas or technologies to survive any future pandemic or lockdown,” he said.
Economy
NGX, Secondary School Students Engage in Smart Money Talks
By Aduragbemi Omiyale
Over 200 secondary school students from Covenant Child Academy, Testimony College, and Green Pastures High School were recently introduced to the fundamentals of financial literacy, capital markets, and responsible investing, offering early exposure to wealth-building principles by the Nigerian Exchange (NGX) Limited.
It was part of Customs Street’s week-long programme to commemorate Global Money Week 2026, themed Smart Money Talks.
The bourse joined the global community to celebrate the week as part of its commitment to advancing financial literacy and equipping the next generation of investors.
The students, who underwent the seminar under the NGX’s flagship X-Tour initiative, were guided by representatives from NGX and NGX Regulation on key considerations before investing, as well as common warning signs to watch for when evaluating investment opportunities.
The session reinforced the importance of cultivating positive money habits to support sound financial decisions in the future.
Extending its impact beyond in-person engagement, the exchange also convened an interactive Instagram Live session in collaboration with United Capital Plc.
Featuring Stanley Onuorah, widely known as Online Banker, the session focused on Building a Portfolio in Today’s Markets. It addressed pressing questions from young Nigerians on navigating the capital market, understanding available investment products, and making informed financial choices.
During the session, a representative from NGX’s Trading and Products division shared practical insights into the range of instruments available in the market, including equities, fixed income securities, and exchange-traded funds, while outlining clear pathways for getting started and building resilient portfolios across varying market conditions.
In parallel, a representative from Market Regulation emphasised the importance of investor protection frameworks, educating participants on their rights, the safeguards that ensure fair market practices, and the necessity of due diligence in sustaining trust and integrity within the market.
The session has since attracted thousands of views, significantly amplifying awareness around financial literacy and encouraging greater youth participation in the capital market.
Through these initiatives, NGX continues to play a pivotal role in shaping financially responsible citizens, in line with its broader mandate to drive inclusive growth and strengthen investor confidence within Nigeria’s financial ecosystem.
Economy
OTC Securities Exchange Dips 2.14% as NSI Closes at 4,109 Points
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 2.14 per cent on Monday, March 30, weakening the Unlisted Security Index (NSI) by 89.95 points to 4,109.74 points from 4,199.69 points.
During the session, investors lost N53.82 billion, leaving the market capitalisation of the trading platform at N2.458 trillion versus the previous session’s N2.512 trillion.
The bourse recorded four price gainers and four price losers led by 11 Plc, which shed N35.12 to close at N316.50 per share compared with last Friday’s value of N351.17 per share. MRS Oil Plc declined by N20.00 to quote at N190.00 per unit versus the previous price of N21o.00 per unit, FrieslandCampina Wamco Nigeria Plc dropped N11.00 to trade at N99.00 per share versus N110.00 per share, and Central Securities Clearing System (CSCS) Plc dipped N2.93 to N77.17 per unit from N80.10 per unit.
Conversely, IPWA Plc appreciated by 55 Kobo to N6.06 per share from N5.51 per share, Industrial and General Insurance (IGI) Plc expanded by 5 Kobo to 57 Kobo per unit from 52 Kobo per unit, Geo-Fluids Plc gained 4 Kobo to close at N3.22 per share versus N3.18 per share, and Acorn Petroleum Plc improved by 1 Kobo to N1.34 per unit from N1.33 per unit.
Trading data revealed a decline of 63.7 per cent in the volume of securities to 21.3 million units from 58.6 million units, a 59.6 per cent drop in the value of securities to N651.1 million from N1.6 billion, and a 24 per cent contraction in the number of deals to 38 deals from 50 deals.
The most active stock by value on a year-to-date basis was CSCS Plc with 56.3 million units exchanged for N3.8 billion, trailed by Okitipupa Plc with 27.5 million units traded for N1.8 billion, and Infrastructure Guarantee Credit Plc with 400 million units valued at N1.2 billion.
Resourcery Plc was the most traded stock by volume on a year-to-date basis with 1.1 billion units worth N415.7 million, followed by Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion, and Geo-Fluids Plc with 133.1 million units transacted for N511.2 million.
Economy
Investors Lose N275bn to Profit-taking on Stock Exchange
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.
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