Economy
Profit-Taking in Financial Stocks Sink NGX Trading Indices by 0.10%
By Dipo Olowookere
Profit-taking in financial stocks by investors brought down the Nigerian Exchange (NGX) Limited by 0.10 per cent on Friday.
Business Post reports that the insurance index went down by 1.46 per cent and the banking space depreciated by 1.26 per cent during the last trading session of the three-day trading week.
The consumer goods sector rose by 0.16 per cent, the energy counter improved by 0.12 per cent, and the industrial goods sector gained 0.08 per cent.
However, the gains by the trio could not stop the NGX trading indices to finish in the green territory, as the All-Share Index (ASI) plunged by 100.01 points to 99,743.05 points from 99,843.06 points, and the market capitalisation moderated by N56 billion to N56.424 trillion from the N56.480 trillion recorded a day earlier.
A total of 617.2 million shares worth N11.4 billion were traded in 9,273 deals during the session versus the 1.3 billion shares worth N25.2 billion traded in 8,215 deals in the preceding session, representing a decline in the trading volume and value by 52.22 per cent and 54.76 per cent apiece, and a rise in the number of deals by 12.88 per cent.
FBN Holdings closed the session as the busiest after selling 207.9 million equities for N4.6 billion, GTCO transacted 58.6 million stocks valued at N2.6 billion, Veritas Kapital traded 57.6 million shares worth N55.2 million, AIICO Insurance exchanged 46.8 million stocks worth N45.2 million, and Fidelity Bank traded 38.5 million equities valued at N392.2 million.
Multiverse ended the day as the worst-performing stock after declining by 9.68 per cent to N11.20, RT Briscoe fell by 7.46 per cent to 62 Kobo, Sunu Assurances depreciated by 6.25 per cent to N1.20, NEM Insurance crumbled by 5.95 per cent to N7.90, and Fidelity Bank decreased by 4.81 per cent to N9.90.
On the flip side, International Breweries was the best-performing stock after it gained 10.00 per cent to N4.40, Thomas Wyatt improved by 9.95 per cent to N2.10, Chams climbed higher by 9.86 per cent to N2.34, Champion Breweries jumped by 9.83 per cent to N3.91, and John Holt expanded by 9.66 per cent to N2.61.
Business Post reports that investor sentiment was weak yesterday after the bourse recorded 26 price losers and 23 price gainers, implying a positive market breadth index.
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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