Economy
Weekly Turnover Sheds 39% as NGX Adjusts Prices of Jaiz Bank, Two Others
By Dipo Olowookere
The volume of trades in the nation’s equity market depreciated last week by 1.181 billion units or 39.1 per cent week-on-week to 1.840 billion units from the preceding week’s 3.021 billion units. This was mainly caused by the lower volume of cross deals in the week under review.
Also, the value of transactions decreased last week as shares worth N27.286 billion exchanged hands in 27,273 deals compared with the equities valued at N31.784 billion traded in 29,153 deals a week earlier.
Amid the low weekly turnover, the All Share Index (ASI) and market capitalisation appreciated w-o-w by 2.09 per cent to 54,085.30 points and N29.158 trillion respectively.
However, all other indices finished lower with the exception of the main board index, which appreciated at 6.03 per cent, while the Asem and sovereign bond indices closed flat.
A look at the spread of the trades in terms of sectors showed that the financial services industry led the activity chart with 1.286 billion shares valued at N10.745 billion traded in 12,379 deals, contributing 69.90 per cent and 39.37 per cent to the total trading volume and value respectively.
It was trailed by the conglomerates sector with 251.105 million shares worth 1.659 billion in 1,371 deals and the consumer goods space with the sale of 105.601 million shares valued at N2.522 billion in 4,263 deals.
Ecobank, Jaiz Bank and Access Holdings were the most active stocks in the five-day trading week with a turnover of 640.650 million units worth N4.825 billion in 2,098 deals, accounting for 34.81 per cent and 17.68 per cent of the total trading volume and value respectively.
As for the price movement index, 23 equities gained in the week, lower than 37 equities in the previous week, 54 equities shed weight, higher than 42 equities in the preceding week, while 79 equities closed flat, higher than 77 equities in the earlier week.
Industrial and Medical Gases recorded the highest increment as its value rose by 20.88 per cent to N11.00, MRS Oil chalked up 20.59 per cent to sell for N16.40, Airtel Africa grew by 20.20 per cent to N1,767.00, Conoil appreciated by 9.95 per cent to N34.25, while FTN Cocoa expanded by 9.37 per cent to 35 kobo.
On the flip side, UAC Nigeria suffered the heaviest loss as its price shrank by 27.08 per cent to N10.50, Global Spectrum Energy Services crashed by 18.77 per cent to N2.77, Royal Exchange shed 14.04 per cent to 98 kobo, RT Briscoe declined by 13.85 per cent to 56 kobo, while Jaiz Bank went down by 13.33 per cent to 78 kobo.
Meanwhile, in the week, the NGX adjusted the equity prices of Jaiz Bank, AIICO Insurance and Prestige Assurance as a result of the dividend proposed by their respective boards.
The value of Jaiz Bank was modified last Friday for the 4 kobo cash reward to shareholders after the qualification date. The price moved from 81 kobo to 77 kobo after the adjustment.
As for AIICO Insurance, the 2 kobo dividend resulted in its price being modified to 76 kobo from 78 kobo last Monday and on the same day, the price of Prestige Assurance was changed to 41 kobo from 42 kobo due to the deduction of N0.015 from its previous closing value.
By Adedapo Adesanya
Central Securities Clearing System (CSCS) Plc kept the NASD Over-the-Counter (OTC) Securities Exchange in the green territory by 0.04 per cent on Friday, July 16.
The securities depository company added N2.50 to its share price to settle at N95.14 per unit from the preceding session’s N92.64 per unit.
However, FrieslandCampina Wamco Nigeria Plc slid during the session by N5.85 to N141.81 per share from N147.66 per share.
But when the bourse closed for the day, the market capitalisation increased by N1.08 billion to N2.593 trillion from N2.592 trillion, while the NASD Security Index (NSI) appreciated by 1.80 points to 4,320.67 points from 4,318.87 points.
During the session, the value of securities slid by 38.9 per cent to N63.5 million from N104.1 million, the volume of securities went down by 34.5 per cent to 1.2 million units from 4.8 million units, and the number of deals declined by 15.4 per cent to 33 deals from 39 deals.
Great Nigeria Insurance (GNI) Plc was the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 75.4 million units traded for N5.3 billion.
GNI Plc also ended the day as the most traded stock by volume on a year-to-date basis, with 3.4 billion units exchanged for N8.4 billion, followed by Infracredit Plc with 2.3 billion units sold for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Dipo Olowookere
The bulls regained control of the Nigerian Exchange (NGX) Limited on Friday after surrendering power to the bears a day earlier as a result of mild selling pressure.
Yesterday, the Nigerian bourse rebounded by 0.54 per cent, mainly due to the gains recorded by First Holdco and others.
Data harvested by Business Post indicated that the industrial goods and energy sectors were flat, while the banking index chalked up 3.13 per cent. The insurance space expanded by 1.08 per cent, and the consumer goods counter rose by 0.21 per cent.
Consequently, the All-Share Index (ASI) went up by 1,316.52 points to 243,462.13 points from 242,145.61 points, and the market capitalisation grew by N850 billion to N157.057 trillion from N156.207 trillion.
The market breadth index was bullish during the last trading session of this week, printing 31 appreciating stocks and 23 depreciating stocks, representing strong investor sentiment.
First Holdco led the advancers’ log after it climbed 9.97 per cent to N95.95, Haldane McCall appreciated by 9.94 per cent to N3.65, LivingTrust Mortgage Bank soared by 9.73 per cent to N3.72, LASACO Assurance jumped by 5.26 per cent to N2.00, and Thomas Wyatt gained 5.10 per cent to quote at N3.09.
On the flip side, Red Star Express declined by 9.50 per cent to N20.00, Omatek slipped by 6.08 per cent to N1.70, C&I Leasing shrank by 5.93 per cent to N5.55, Jaiz Bank crashed by 5.03 per cent to N8.50, and Livestock Feed fell by 3.89 per cent to N8.65.
As for the activity chart, market participants bought and sold 685.9 million equities for N42.7 billion in 44,134 deals on Friday versus the 498.5 million equities worth N34.9 billion traded in 39,484 deals on Thursday, implying a rise in the trading volume, value, and number of deals by 37.59 per cent, 22.35 per cent, and 11.78 per cent, respectively.
Investors’ darling for the day was First Holdco, with a turnover of 225.9 billion units valued at N21.0 billion, Guinea Insurance sold 53.4 million units for N45.2 million, Zenith Bank traded 41.5 million units worth N4.7 billion, Access Holdings exchanged 29.1 million units valued at N720.6 million, and UBA exchanged 27.5 million units for N1.2 billion.
By Modupe Gbadeyanka
The Africa Association of Professional Freight Forwarders and Logistics of Nigeria (APFFLON) has appealed to the Nigeria Customs Service (NCS) to deepen its sensitisation on the newly introduced Green Tax Surcharge Policy.
The chairman of APFFLON, Mr Akeem Ayobiojo, made this plea on behalf of his colleagues on Tuesday, July 14, 2026, at the Customs House in Abuja, during a stakeholders’ engagement with the agency.
He also called for improvements in the administration of Pre-Arrival Assessment Reports and Post Clearance Audit and the African Continental Free Trade Area (AfCFTA).
Mr Ayobiojo stated that freight forwarders were happy to work with the customs, commending the organisation for implementing Chapter 99, describing it as a major relief for manufacturers.
He, however, emphasised that a deeper understanding of the new tax was necessary for his members, saying more predictable procedures would reduce delays and unexpected costs for importers and freight forwarders.
In his remarks, the Comptroller-General of Customs, Mr Adewale Adeniyi, assured manufacturers, freight forwarders and other players in the nation’s trade sector that the NCS would continue to engage them on fiscal policies affecting their businesses, saying sustained dialogue remains key to resolving implementation challenges and improving the country’s trading environment.
He also promised them the service’s resolve to enhance and facilitate trade, acknowledging that, “Your feedback is important because it helps us understand what is happening in the field, and where necessary, we will take your concerns to the Federal Ministry of Finance and other relevant government institutions.”
Speaking about Authorised Economic Operator (AEO), Mr Adeniyi further explained that Nigeria would not lower the standards required under the Authorised Economic Operator Programme as the initiative is guided by global benchmarks established by the World Customs Organisation (WCO).
On her part, the Deputy Comptroller-General of Customs for Tariff and Trade, Ms Caroline Niagwan, clarified that electric vehicles can be imported without payment of duty only by holders of Import Duty Exemption Certificate (IDEC) issued by the Federal Ministry of Finance.
She also urged importers facing classification disputes to take advantage of the Advance Ruling system, noting, “Once an Advance Ruling is issued based on genuine documentation, importers have certainty on classification, valuation or origin before the goods arrive, thereby reducing unnecessary disputes during clearance.”
