Market Updates

NGX value dips to N128.98tn amid bearish pressure The Nigerian equities market reversed its recent upward trajectory on Wednesday as sustained profit-taking in banking heavyweights dragged the benchmark index lower, wiping out billions in investor wealth. Data from the Nigerian Exchange Limited showed that the All-Share Index declined by 37... Read More →

Legend Internet, Spectranet notify NGX of proposed merger Legend Internet Plc officially notified the Nigerian Exchange Limited and its stakeholders on Monday of a proposed merger with Spectranet Limited, intended to unify the businesses and operations of both entities under a single corporate structure. The transaction, which follows resolutions passed... Read More →

Naira gains as liquidity boost offsets reserve slide The naira strengthened in the official foreign exchange (FX) market on Tuesday, buoyed by improved liquidity conditions even as Nigeria’s external reserves extended their recent decline, highlighting the delicate balance facing policymakers. Data from the Central Bank of Nigeria (CBN) showed the... Read More →

CBN mandates IMTOs to use naira settlement accounts for diaspora inflows The Central Bank of Nigeria has moved to tighten oversight of diaspora inflows, directing all international money transfer operators (IMTOs) to route transactions through designated naira settlement accounts in banks in a bid to improve transparency and deepen liquidity... Read More →

NGX lifts suspension on Zichis Agro-Allied shares NGX Regulation Limited has officially lifted the suspension on trading the shares of Zichis Agro-Allied Industries Plc, following a month-long investigation into the company’s market activities. The decision, communicated via a market bulletin on Monday, marks the return of the agro-allied firm to... Read More →

DLM Capital initiates N30bn SBCN plan with maiden payout DLM Capital Group has officially moved from proof-of-concept to proven execution, announcing the successful disbursement of the first principal and coupon payments on its Sovereign Bond-Backed Composite Notes. The payment marks a decisive turning point for the N30bn programme, which seeks... Read More →