Economy
Stanbic IBTC Assets Under Management Jumps Over N1trn
By Adedapo Adesanya
Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, has announced that it surpassed the N1 trillion asset under management (AuM) threshold despite recent headwinds in the country’s economy.
According to the company, the accomplishment serves as a testament to its dedication to innovation, nurturing client relationships, and fostering investment prosperity.
While expressing her delight at the achievement, Mrs Busola Jejelowo, Chief Executive of Stanbic IBTC Asset Management, attributed the achievement to the unwavering trust and support of its clientele, partners, and stakeholders.
“This milestone is a tribute to our clients who have entrusted us with their financial goals. Their belief in our capabilities has fueled our journey, and their success stories are the true measure of our achievement.
“For us, the real win is that we have achieved our mission – to empower our clients, to help them achieve their dreams, and to support them to create a legacy of financial prosperity – this is the true prize.”
“I want to extend my profound gratitude to our esteemed clients. From the bottom of our hearts, thank you for choosing us as your preferred financial partner. Your partnership has been the cornerstone of our journey, and our commitment to your investment, prosperity, and dreams has always been and will continue to be our driving force.”
The chief executive also reiterated the company’s commitment to excellent service delivery to its clients. She said, “As Stanbic IBTC Asset Management moves forward, it will continue to innovate, deploy cutting-edge investment strategies, and provide tailored investment solutions that evolve in tandem with our clients’ needs.”
The challenging operating environment in Nigeria has led to an erosion of real incomes and purchasing power, prompting a surge in investors’ inclination towards Dollar-denominated assets. The escalation of the year-over-year inflation rate from 15.6 per cent in January 2022 to 24.08 per cent in July 2023 is indicative of an unfavourable macroeconomic climate.
Despite this, the asset management industry continues to underachieve, constrained by a large informal sector (estimated at 65 per cent of GDP), a high poverty rate of 40 per cent, and limited investment opportunities offered by the Nigerian capital market.
Business Post reported that Agusto & Co. predicted a moderate increase in the size of the asset management industry, with an estimated average growth rate of 15.9 per cent over the next three years. This will result in total AuM reaching the N4 trillion mark by 2024.
Growth is expected to be driven by various factors, including increased investments from pension fund administrators and institutional clients. The unification of exchange rates is anticipated to result in the repatriation of funds formerly invested in international money markets and reignite foreign interest in Naira-denominated assets.
Economy
46 Stocks Gain Weight, 53 Equities Lose on NGX in One Week
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited was bullish last week despite investors’ mood swing, triggered by happenings in the country and across the globe, especially the Middle East crisis.
The All-Share Index (ASI) and the market capitalisation appreciated week-on-week by 3.94 per cent to 225,722.49 points and N145.335 trillion, respectively.
Similarly, all other indices finished higher with the exception of the growth and commodity indices, which depreciated by 0.02 per cent and 0.41 per cent, respectively, while the sovereign bond index closed flat.
A look at the price changes of shares in the five-day trading week showed that
46 stocks gained weight versus 61 stocks of the previous week, 53 equities shed weight compared with 36 equities a week earlier, and 47 shares closed flat, in contrast to 49 shares of the preceding week.
UAC Nigeria led the gainers’ chart after it chalked up 42.00 per cent to trade at N142.00, Union Dicon appreciated by 32.73 per cent to N21.90, NASCON expanded by 32.63 per cent to N206.90, Trans-Nationwide Express rose by 30.58 per cent to N7.90, and Zichis improved by 25.71 per cent to N15.60.
On the flip side, Infinity Trust Mortgage Bank led the losers’ group after it gave up 50.79 per cent to close at N9.35, Abbey Mortgage Bank declined by 33.33 per cent to N5.40, Guinea Insurance slipped by 15.20 per cent to N1.06, Stanbic IBTC lost 13.82 per cent to settle at N162.50, and Living Trust Mortgage Bank slumped by 10.98 per cent to N3.65.
As for the activity log, Customs Street recorded a turnover of 3.805 billion shares worth N213.955 billion in 297,202 deals in the week compared with 3.588 billion shares valued at N195.313 billion transacted in 254,553 deals in the previous week.
Financial stocks led the activity chart with 2.739 billion units sold for N106.269 billion in 135,101 deals, contributing 71.99 per cent and 49.67 per cent to the total trading volume and value, respectively.
Services equities traded 212.324 million units worth N4.024 billion in 17,042 deals, and consumer goods shares exchanged 180.076 million units valued at N13.269 billion in 32,457 deals.
Access Holdings, UBA, and First Holdco were the busiest with 814.060 million units traded for N39.032 billion in 37,195 deals, contributing 21.40 per cent and 18.24 per cent to the total equity turnover volume and value, respectively.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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