Market Updates

Naira strengthens to N1,853/£1 against British Pound amid UK’s political instability The Nigerian Naira has recovered from its April lows and shown signs of resiliency in the first half of May, while the British pound hit monthly lows amid a crisis in the UK ruling party. The British pound sterling... Read More →

SEC approves FCMBAM mutual funds rebranding FCMB Asset Management Limited has secured approval from the Securities and Exchange Commission for the execution of supplemental Trust Deeds covering its mutual funds, including the rebranding of its legacy funds and reduction in minimum subscription units. The company, which is the asset management... Read More →

Mutual Benefits pays N5.5bn April claims Mutual Benefits Assurance Plc has announced the disbursement of over N5.5bn in claims to its policyholders for the month of April 2026 in a significant demonstration of financial strength and operational reliability. The payout, which covers both the company’s General and Life insurance portfolios,... Read More →

Stock market sheds N170bn as investors dump mid-caps The Nigerian equities market retreated on Thursday as a wave of mild profit-taking in several mid-cap stocks dampened the recent rally, resulting in a total loss of N170bn for investors. This downward movement saw the market capitalisation decline from N161.839tn at the... Read More →

NEM Insurance proposes N1.50 dividend NEM Insurance Plc has announced a dividend proposal of N1.50 per ordinary share, totalling approximately N7.52bn, following a year of robust revenue growth and market expansion despite a volatile macroeconomic climate. The announcement was made by the Group Chairman, Tope Smart, during the company’s 56th... Read More →

SEC raises alarm over shady online investment platforms The Securities and Exchange Commission has warned Nigerians against the growing number of unregistered online investment schemes being promoted across social media platforms, describing many of them as Ponzi operations designed to defraud unsuspecting investors. In a public notice dated 8 May... Read More →