Economy
UK to Help Nigeria Achieve Sustainable, Resilient Financial Market
By Aduragbemi Omiyale
The United Kingdom has pledged to support Nigeria in achieving a sustainable and resilient financial market because of its importance to the economy.
The British Deputy High Commissioner to Nigeria, Mrs Ben Llewellyn-Jones, gave this assurance when he held a meeting with the management of the Securities and Exchange Commission (SEC) recently.
The envoy, who was represented by the Head of Economic Development, Ms Sally Woolhouse, stated that her country intends to make the sector, particularly the capital market, more innovative in the face of emerging climate change challenges.
She said, “our offers cover technical support, including green capital market. FSD Africa is doing an awesome job in partnering with you to drive this mission. Also, we can explore the potential strategic engagement with UK financial market institutions such as the London Stock Exchange, through which SEC could gain insight into emerging trends.”
Mrs Llewellyn-Jones described the UK government as “a long-staying ally of the Nigerian government,” stressing that her country was “committed to supporting the country’s financial sector, particularly the capital market in being more innovative, sustainable and resilient even as we all face emerging challenges such as climate change.”
“We look forward to working more collaboratively with every partner in achieving a sustainable and resilient financial sector in Nigeria,” she said.
In his remarks, the Director-General of the SEC, Mr Lamido Yuguda, thanked the diplomat for supporting the nation’s capital market, reiterating the commitment of the agency to continue to create awareness, impart knowledge and engender public participation in these topical areas.
While commenting on the outcome of the Capital Market Committee (CMC) meeting held last week, Mr Yuguda said members of the team were reminded to collectively work towards the enactment of the Investments and Securities Bill 2022, which will enhance the performance of the Nigerian capital market and align it with global best practices.
The DG reiterated the commitment of the management of the commission to the public on the full implementation of the initiatives of the revised Capital Market Master Plan, which will form the basis of the policy direction of the Commission for the coming years.
Mr Victor Nkiri, representing Financial Sector Deepening Africa (FSDA), said developing a capital markets master plan provides a clear roadmap for the development of the capital markets in a holistic and realistic manner whilst setting clear targets and action points.
This, he said, provides positive market signalling to all financial sector players such as policymakers, potential domestic and international investors, peer regulators, ministries of finance etc, as it provides an indication of the direction in which the capital market development is taking in that country.
“Having a clear blueprint (such as a CMMP) also helps to ensure a collaborative and symbiotic market system approach is pursued e.g., incorporating sectors such as pension funds which form a bulk of institutional investors and are key to driving domestic capital,” he stated.
Nkiru said the need to revise the master plan became necessary to align with current global and local economic realities – post-COVID-19 economic recovery and the recent aftermath of the Russia-Ukraine war, supply chain disruptions (local macroeconomic challenges, FX volatility) and the need to drive long-term domestic capital to fund economic growth.
“Also, there was a need to align with current market dynamics and disruptions in the capital market space – fintech, decentralised finance (de-fi), digi-assets and blockchain-powered technology.
“To position the market to respond to the global call on climate finance and resilience through the deployment of sustainable finance instruments such as green bonds, social bonds, blue bonds etc, noting that Africa stands to bear the largest brunt of climate change,” he added.
**Revokes Trading Licences of LMB, Platinum Stockbrokers
By Aduragbemi Omiyale
A stockbroking company, Premium Capital and Stockbrokers Limited, has been fined N5 million for engaging in “unauthorised sale of its clients’ securities.”
A circular issued by the Nigerian Exchange (NGX) Regulation Limited disclosed that the trading licence of the organisation has also been revoked.
In the notice signed by the Head of Market Regulation for NGX RegCo, Chinedu Akamaka, Premium Capital violated Rule 11.9 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), which focuses on the Prohibition of Unauthorised Sale of Securities.
Business Post reports that Premium Capital was not the only stockbroker that had its trading licence withdrawn, as it also affected others.
The licence of LMB Stockbrokers Limited was revoked by NGX RegCo for prolonged inactivity, which falls contrary to Rule 6.4: Revocation of Inactive Dealing Members’ Licences, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), as amended.
The same also affected Platinum Stockbrokers Limited, which has not witnessed activity on the floor of the NGX Limited for a while.
Similarly, the authorised dealing clerkship of Mr Bernard Oluwole Ilori, was taken back with immediate effect in alignment with an earlier determination by the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC), which arose from his involvement in regulatory infractions connected to Mutual Alliance Investment and Securities Limited and resulted in his 10-year ban from the Nigerian capital market since March 25, 2021.
Investors have been “strongly advised not to engage in any activity with the firms” whose trading licenses have been revoked.
By Aduragbemi Omiyale
The securities of DN Tyre and Rubber Plc, and Greif Nigeria Plc have been delisted by the regulatory arm of the Nigerian Exchange (NGX) Group Plc, NGX Regulation Limited.
A statement signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, said the delisting became effective on Thursday, April 9, 2026.
In the notice issued yesterday, it was further disclosed that the action complied with the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking.
According to this clause, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the issuer (listed company) from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, the exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”
It was explained that the shares of the two firms were delisted because they fell below the listing standards.
“The securities of DN Tyre and Rubber Plc and Greif Nigeria have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective Thursday, April 9, 2026, on the grounds that the companies are operating below the listing standards of NGX and their securities are no longer considered suitable for continued listing and trading in the market,” the disclosure noted.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 0.95 per cent on Thursday, April 9, plunging the Unlisted Security Index (NSI) by 37.41 points to 3,893.50 points from 3,930.91 points.
In the same vein, the market capitalisation lost N22.38 billion during the session to N2.329 trillion from the N2.351 trillion it ended at midweek.
The OTC securities exchange was under selling pressure yesterday, resulting in a negative market breadth index after three securities lost weight and one gained weight.
Central Securities Clearing System (CSCS) Plc led the losers’ table after it shed N3.74 to sell at N64.21 per unit versus N67.95 per unit. Food Concepts Plc went down by 19 Kobo to N2.68 per share from N2.87 per share, and Free Range Farms Plc dropped 10 Kobo to settle at 90 Kobo per unit versus N1.00 per unit.
On the flip side, MRS Oil gained N5 to close at N165.00 per share compared with the preceding day’s N160.00 per share.
At the trading session, there was a 23.5 per cent jump in the value of securities to N40.4 million from N32.7 million, but the volume of securities fell by 81.9 per cent to 1.04 million units from 5.7 million units, and the number of deals went down by 29.7 per cent to 26 deals from the preceding session’s 37 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 57.5 million units exchanged for N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
Also, GNI Plc ended the trading day as the most traded stock by volume on a year-to-date basis with the sale of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units worth N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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