Economy
Stocks Shed 0.08% in Reaction to CBN 0.50% Rate Hike
By Dipo Olowookere
The stock market reacted negatively to the continued hawkish stance of the Central Bank of Nigeria (CBN) on interest rates amid soaring inflation.
The central bank further tightened its monetary policy yesterday by 50 basis points or 0.50 per cent to 26.75 per cent after its Monetary Policy Committee (MPC) meeting in Abuja.
Investors pounced on this to reduce their exposure to equities, leaving the Nigerian Exchange (NGX) Limited down by 0.08 per cent at the close of transactions.
As a result, the All-Share Index (ASI) went down by 82.48 points to 100,486.12 points from 100,568.60 points, and the market capitalisation decreased by N46 billion to settle at N56.899 trillion versus Monday’s N56.945 trillion.
Business Post reports that the banking counter depreciated by 0.67 per cent and the insurance index fell by 0.15 per cent, while the consumer goods space appreciated by 0.06 per cent, with the energy and industrial goods sector closing flat.
Investor sentiment was weak during the trading day as the bourse ended with 27 declining shares and 14 appreciating shares, representing a negative market breadth index.
University Press lost 9.92 per cent to close at N2.27, John Holt shed 9.87 per cent to N2.83, Omatek declined by 9.46 per cent to 67 Kobo, Deap Capital plunged by 8.93 per cent to 51 Kobo, and Secure Electronic Technology moderated by 7.02 per cent to 53 Kobo.
But Ikeja Hotel gained 7.58 per cent to quote at N7.10, Linkage Assurance rose by 6.90 per cent to 93 Kobo, Caverton jumped by 5.00 per cent to N1.47, Sovereign Trust Insurance advanced by 4.17 per cent to 50 Kobo, and Consolidated Hallmark appreciated by 2.96 per cent to N1.39.
The market was relatively quiet yesterday as traders fixed their eyes on the rate announcement and prepared for the treasury bills auction today.
This led to a decline in the trading volume, value and the number of deals by 16.32 per cent, 2.70 per cent, and 4.08 per cent apiece.
A total of 280.9 million equities worth N3.6 billion exchanged hands in 8,403 deals on Tuesday versus the 335.7 million equities worth N3.7 billion traded in 8,760 deals on Monday.
Veritas Kapital topped the activity chart with 22.5 million stocks valued at N23.0 million, United Capital transacted 20.9 million shares worth N817.1 million, Jaiz Bank exchanged 20.8 million equities for N45.1 million, Access Holdings traded 20.4 million stocks worth N3.9 billion, and Prestige Assurance sold 16.8 million shares for N8.6 million.
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.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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