Economy
Technology Has Made Capital Market Easily Accessible—CSCS Chief
By Aduragbemi Omiyale
The chief executive of the Central Securities Clearing System (CSCS) Plc, Mr Haruna Jalo-Waziri, has praised the role technology has played in revolutionising the capital market landscape, saying it has made the ecosystem accessible to all.
He said players in the sector, especially financial technology (fintech) firms, have come up with innovations that have made it possible for investors across the categories, to buy and trade in the market with ease.
Speaking at the Institute of Capital Market Registrars (ICMR) Annual Conference held a few weeks ago in Lagos, Mr Jalo-Waziri said this transformative role of technology in the capital market has deepened the space.
He promised that the CSCS will continue to leverage technological advancements to drive inclusivity within the capital market, with a focus on empowering individuals through enhanced financial access and participation.
“The fintech revolution has profoundly reshaped the landscape of capital markets. The integration of cutting-edge technologies, such as online trading platforms, robo-advisors, blockchain, and AI-driven analytics, has not only democratized access to investing but also streamlined processes, enhanced transparency, and fostered innovative investment opportunities,” Mr Jalo-Waziri, said while presenting a paper titled Harnessing FinTech Innovation for Inclusive Capital Market: Empowering individuals through Financial Access and Participation.
The CSCS chief, who was represented at the programme themed Navigating Nigeria’s Economic Realities: The Transformative Power of Technology in the Capital Market by the Divisional Head of Business Technology and Digital Innovation at CSCS Plc, Mr Tobe Nnadozie, further stated that the “symbiotic relationship between fintech and the capital market is pivotal for sustainable financial growth, offering individuals and businesses alike the means to efficiently navigate and leverage the intricacies of modern financial ecosystems.”
“In other words, fintech is transforming the landscape of financial services, and we believe that it holds the key to making our capital market more inclusive and accessible to all. We are committed to pioneering this transformation for the benefit of every individual investor in Nigeria,” he added.
He averred that fintech “innovations have played a significant role in revolutionizing capital markets by leveraging technology to provide streamlined and accessible financial services. It has transformed how trading, investing, and fundraising occur, fostering greater innovation and accessibility in the capital market landscape.
“We are actively seeking partnerships with fintech companies and stakeholders across the financial sector. Together, we can build a more robust and accessible capital market that benefits every Nigerian.”
By Aduragbemi Omiyale
Those interested in buying or selling the shares of Aluminium Extrusion Plc on the Nigerian Exchange (NGX) Limited will not be able to do so for now.
This is because trading activities on the company’s securities on the Nigerian bourse have been suspended by the NGX Regulation Limited.
The reason for this is that the organisation has failed to submit its financial statements as required by the listing rules for the perusal of the investing community.
After being given grace periods to file the results, the board of the firm has not done the needful, necessitating the wielding of the stick on the entity.
A notice from Customs Street disclosed that the suspension became effective last Wednesday. It will be lifted when the financial results are submitted.
“In accordance with the default filing rules, the suspension of trading in the shares of the company shall be lifted upon the submission of the relevant financial statements,” a part of the notice said.
Business Post reports that Aluminium Extrusion has not filed its financial statements for the year ended December 31, 2025, more than three months after it was required to submit its financial performance for the last fiscal year.
“Trading license holders and the investing public are hereby notified that pursuant to Rule 3.1, Rules for Filing of Accounts and Treatment of Default Filing, (Default Filing Rules), which provides that if an issuer fails to file the relevant accounts by the expiration of the cure period1, the exchange will: a) send to the issuer a second filing deficiency notification within two business days after the end of the cure period; b) suspend trading in the issuer’s securities; and c) notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.
“Trading in the shares of Aluminium Extrusion Plc has been suspended from the facilities of Nigerian Exchange Limited effective Wednesday, July 22, 2026, for not filing its Audited Financial Statements for the year ended December 31, 2025,” the disclosure stated.
Shares of Aluminium Extrusion last traded on the domestic stock exchange at N9.90 per unit.
By Dipo Olowookere
Last week on the floor of the Nigerian Exchange (NGX) Limited, 57 equities appreciated, higher than 44 equities in the previous week, while 38 equities shed weight versus 35 equities in the preceding week, with 51 equities closing flat versus the 67 equities recorded a week earlier.
UPDC REIT chalked up 33.33 per cent to trade at N14.20, First Holdco gained 25.59 per cent to finish at N120.50, Unilever Nigeria rose by 19.31 per cent to N147.95, Cadbury Nigeria improved by 18.42 per cent to N67.50, and AXA Mansard expanded by 17.86 per cent to N13.20.
On the flip side, Mecure lost 26.97 per cent to N62.40, Royal Exchange shrank by 12.84 per cent to N1.29, Tripple Gee slumped by 12.34 per cent to N3.41, SUNU Assurances crumbled by 10.00 per cent to N3.60, and BUA Foods dropped 10.00 per cent to close at N845.10.
In the week, the All-Share Index (ASI) went up 1.60 per cent to 247,357.40 points, and the market capitalisation appreciated by 1.61 per cent to N159.588 trillion.
Similarly, all other indices finished higher with the exception of the consumer goods, Lotus II, growth, sovereign bond and commodity indices, which fell by 3.76 per cent, 1.55 per cent, 20.24 per cent, 0.14 per cent, and 1.25 per cent respectively.
As for the trading data, 4.433 billion shares worth N306.143 billion in 255,589 deals were transacted in five days versus the 2.819 billion shares valued at N182.499 billion traded in 226,729 deals in the previous week.
The financial services segment led the activity chart with 3.422 billion shares valued at N207.206 billion traded in 117,545 deals, contributing 77.18 per cent and 67.68 per cent to the total trading volume and value, respectively.
The consumer goods sector traded 201.978 million shares worth N17.171 billion in 28,666 deals, and the ICT industry posted a turnover of 169.481 million shares worth N21.194 billion in 23,107 deals.
First Holdco, Access Holdings, and GTCO accounted for 2.151 billion shares worth N170.793 billion in 44,768 deals, contributing 48.51 per cent and 55.79 per cent to the total trading volume and value, respectively.
By Adedapo Adesanya
Nigeria’s crude oil exports to the United States rebounded strongly in May as shipments rose by nearly 150 per cent month-on-month as American refiners increased purchases of overseas crude.
Latest data from the US Census Bureau showed that crude imports from Nigeria climbed to 2.36 million barrels in May, compared with 946,000 barrels recorded in April.
This indicated renewed demand for Nigeria’s premium light sweet grades amid shifting global patterns and higher international oil prices as the Middle East disruption weighed on trade.
The value of the imports also rose sharply to $279.8 million, up from $85.2 million in the previous month, reflecting both the higher volume of purchases and stronger crude oil prices during the period.
The rebound coincided with a broader increase in crude oil imports by the US.
According to the latest US International Trade in Goods and Services Report, total US crude imports increased by $1.5 billion in May, making crude oil one of the largest contributors to the $12.3 billion rise in overall goods imports during the month.
The report also showed that imports of industrial supplies and materials increased by $3.1 billion, with crude oil accounting for nearly half of the increase.
The recovery marks a significant turnaround after two consecutive months of declining Nigerian crude shipments to the US market. Export volumes had fallen from 4.64 million barrels in February to 1.54 million barrels in March, before dropping further to 946,000 barrels in April.
Despite the fluctuations, cumulative exports between January and May 2026 reached 11.15 million barrels, valued at approximately $926.6 million, reaffirming Nigeria’s strategic position as a key supplier of premium low-sulphur crude grades to the world’s largest economy.
Concerns surrounding crude shipments through the Strait of Hormuz, one of the world’s busiest oil transit routes, are encouraging refiners to increase purchases from Atlantic Basin producers such as Nigeria, whose crude grades offer lower geopolitical shipping risks than some Middle Eastern supplies.
Nigeria’s flagship crude grades, including Bonny Light, Qua Iboe and Escravos, remain highly sought after by US Gulf Coast refiners because of their low sulphur content and high yields of premium petroleum products such as petrol, diesel and aviation fuel.
Although the US has emerged as one of the world’s largest crude oil producers following the shale revolution, many American refineries continue to import light sweet crude to complement domestic production and optimise refining operations.
The rebound in exports also comes as Nigeria gradually restores crude production following improved security operations in the Niger Delta and intensified efforts by government agencies and operators to curb crude oil theft, pipeline vandalism and illegal refining.
