Author: Folasade Olugbade

NGX Delivers 29.35% Return, Investors Gain N30trn in Q1 The Nigerian Exchange (NGX) delivered 29.35% return from the beginning of the year to date as investors continue to take positions in growth stocks with upside potential. Over the past three months, the Nigerian Exchange market capitalisation increased by about N30 trillion, reflecting sustained bargain-hunting. Market cap is expected to reach N130 trillion in the second quarter, as investors anticipate the first quarter of 2026 earnings season to drive momentum. The local bourse witnessed significant gains as investors hedged macro risks by buying Nigerian top-performing stocks across the banking, insurance, industrial,…

Pan-African lender Ecobank Incorporated (ETI) Plc’s share price closed flat on the Nigerian stock market amid thin trading ahead of its first-quarter 2026 earnings.

FTSE Russell, the global index provider, today announces the alignment of the minimum free float requirement for both UK-incorporated and non-UK-incorporated companies within the FTSE UK Index Series.

GCR Ratings has affirmed Ondo State Government of Nigeria’s national-scale long-term and short-term issuer ratings of BBB(NG) and A3(NG), respectively, with the outlook revised to positive from stable.

The monetary authority has lowered the interest rate on Nigerian Treasury bills with 1-year (364-day) tenors by 20 basis points (bps) to 16.43%. This move is aimed at reducing balance-sheet funding costs.

Shiba Inu Gains on Meme Coin Rotation Shiba Inu gained 2.15% to $0.00000625 over the past 24 hours, outpacing a nearly flat Bitcoin, as a sector-wide rebound in meme coins drove the rally. This move aligns with a broader market shift toward risk-on altcoins, supported by technical breakouts and reduced geopolitical tensions. Meme coin sector rotation, with capital flowing into high-beta assets like SHIB, DOGE, and PEPE as broader market sentiment improved. If SHIB holds above $0.00000630, it could target resistance near $0.00000650; a break below $0.00000596 risks a drop toward $0.00000572. The entire meme coin category saw inflows, with…

Excess Liquidity in Banking System Hits N8.2trn The financial system witnessed a marginal surge in liquidity following the repayment of large OMO bills and the absence of Central Bank mop-up operations. Flooded with excess funds, the short-term benchmark interest rates have hit the floor, hovering above 22% since the last monetary policy decision. In search of earnings-boosting investment securities, banks continue to step up placements at the Central Bank of Nigeria (CBN) Standing Deposit Facility (SDF), which offers rates above Treasury bill returns. Preference for short-term investment securities and other money-market instruments has continued to gain ground, with banks shying…

 The Nigerian stock market rebooted for the next rally on Tuesday, posting a N1.086 trillion profit, following gains in some mid- and large-cap stocks.

XRP Gains 4.2% as Geopolitical Tensions Ease, Cryptos Rally Ripple (XRP) has increased by 4.20% to $1.42 over the past 24 hours, following a significant surge in trading volume on Tuesday. This rise was fueled by a de-escalation of tensions in the Middle East. The shift to a “risk-on” sentiment followed President Trump’s announcement of a five-day pause on planned U.S. strikes against Iran, along with progress in diplomatic talks, which alleviated immediate geopolitical fears. XRP’s price movement is closely mirroring Bitcoin’s 4.69% gain, both benefiting from a general market rebound driven by positive geopolitical news. As a result, risk…

Guaranty Trust Holding Company (GTCO) Plc shrank further on the Nigerian Exchange (NGX) amid a missed regulatory filing, which weakened investor sentiment.