Market Updates

African Alliance Insurance Plc, one of Nigeria’s oldest life assurance specialists, faced severe financial pressures during the first quarter of 2023, recording a total comprehensive loss of N1.72bn compared with a net profit of N1.07bn in the corresponding period of 2022. Founded in 1960, the pioneer life underwriting firm has... Read More →

Activity in the official foreign exchange market experienced a notable slowdown during the first week of September 2026, as total turnover across both the spot and derivatives segments registered a sharp week-on-week decline. According to the latest market report released by FMDQ Securities Exchange, total foreign exchange turnover for the... Read More →

Buoyed by strong institutional demand and robust trading activity, the Nigerian Exchange rallied last week, with rising market capitalisation and solid financial-sector performance boosting investor confidence and profitability. JIDE AJIA reports The Nigerian equities market closed the first week of September 2026 on a bullish note, buoyed by robust trading volumes and... Read More →

Just eight companies listed on the Nigerian Exchange had market capitalizations of at least $5 billion as of September 2, 2026, with the group commanding a combined valuation of approximately N103.12 trillion ($77.86 billion). The Billion-dollar Mega Caps (BMCs) represent over 60% of the NGX total market capitalization putting them... Read More →

Sterling Financial Holdings Plc and five other companies listed on the Nigerian Exchange (NGX) a combined 14.44 billion additional shares valued at N37.19 billion at their respective offer or conversion prices, following a series of capital-raising and restructuring transactions. The transactions published by the Nigerian Exchange (NGX) in the weekly... Read More →

Wema Bank has become a much bigger and more profitable bank in the past few years, while its shares have rallied sharply. In 2025, it closed at N20.40, gaining over 124% and becoming the best-performing banking stock. By February 2026, it had joined the SWOOT club after its market capitalisation... Read More →