Author: Gilbert Ayoola

One Investor, One Identity: Tackling the Challenge of Unclaimed Dividends The growing volume of unclaimed dividends in Nigeria’s capital market is not merely a regulatory or administrative concern; it is an investor-awareness issue that requires urgent public sensitisation. One significant factor complicating the tracking and recovery of unclaimed dividends is the existence of multiple Central Securities Clearing System (CSCS) account numbers and Clearing House Numbers (CHNs) held by individual investors. Over the years, investors may have accumulated different securities accounts through various stockbrokers, public offers, rights issues, transfers, inheritances, or changes in brokerage relationships.  While these accounts may have been…

Stanbic IBTC Holdings Plc delivered a striking first-half performance in 2026, with profit after tax rising 38.2% to N239.7 billion, from N173.4 billion in H1 2025.

Access Holdings Plc has secured a further extension from the Nigerian Exchange (NGX) to publish its financial results

Livestock Feed Exit: UACN Rationalises Portfolio to Boost Capital Efficiency The N19.5 billion disposal marks another step in UACN’s portfolio rationalisation, with the potential to improve capital efficiency, simplify management focus, and sharpen the Group’s earnings profile. UAC of Nigeria Plc’s portfolio optimisation programme has entered another important phase with its agreement to sell its 73.29% controlling interest in Livestock Feeds Plc to Sunbeth Treenuts and Sesame Limited for N19.5 billion. The transaction, announced on 30 September 2026, values UACN’s controlling stake at approximately N19.5 billion, equivalent to N8.85 per Livestock Feeds share, and remains subject to the necessary regulatory…

Elumelu Stake Rises as Heirs Energies Buys 6M Seplat Shares for £53.22m Tony Elumelu’s Heirs Energies Limited has further increased its position in Seplat Energy Plc, acquiring an additional 6,000,000 shares at £8.87 per share, representing a transaction value of approximately £53.22 million. Following the acquisition, Heirs Energies’ direct holding in Seplat Energy has risen to 27,943,867 shares, reinforcing the broader strategic interest of entities controlled by Mr. Tony Elumelu in one of Nigeria’s leading independent energy companies. On a combined basis, the interests of Heirs Energies Limited and Heirs Holdings Limited, entities controlled by Mr. Elumelu, have increased their…

Nigeria’s Banks Approach the Earnings Reckoning as Deadline Looms With the September 30 deadline hours away, attention in Nigeria’s equity market is increasingly focused on the delayed H1 2026 audited financial statements of GTCO, Access Holdings, UBA and Fidelity Bank. The deadline represents more than a reporting date; it is the point at which investors will begin to replace speculation and incomplete information with audited fundamentals that can drive a more definitive market assessment. GTCO has already set the pace, publishing its H1 2026 results and declaring a conservative interim dividend of N1.00 per share, consistent with its recent payout…

Seplat Energy Extends Bullish Run as Stock Surges N1,355.20 in One-Day Rally Seplat Energy Plc strengthened its bullish market trajectory as the stock delivered a powerful one-day price appreciation of N1,355.20, underscoring renewed upward momentum and sustained investor demand. The energy stock opened trading at N13,552.60 before accelerating to its maximum permitted daily gain of 10%, closing at N14,907.80. The session therefore translated into a substantial N1,355.20 increase in market value per share, reinforcing the stock’s ongoing upward price trajectory. The performance represents a decisive continuation of Seplat Energy’s positive momentum, with buyers maintaining sufficient strength to push the stock…

Q2 Results in Limbo: How Long Can Investors Wait? The prolonged delay in the release of audited H1 2026 financial statements by several major Nigerian banking groups is increasingly becoming more than a reporting-calendar issue. It is emerging as a question of market disclosure and investor visibility. With September already underway and banks entering the final stretch of Q3 2026, investors are still awaiting current half-year earnings from several major quoted institutions. GTCO, Access Holdings, UBA and Fidelity Bank have secured extensions of their filing deadlines to 30 September 2026, while Zenith Bank has received an extension to 9 October…

NGX at Crossroads: Profit-Taking, Rebalancing and the New Search for Value Nigeria’s financial markets are entering a more discriminating phase. The broad investment narrative has shifted from indiscriminate accumulation to selective positioning, with investors increasingly weighing valuation, earnings quality, liquidity, dividend prospects, and the relative attractiveness of fixed-income instruments before committing fresh capital. The latest market action on the Nigerian Exchange (NGX) captures that transition. The All-Share Index fell 1.17% to 244,802.11 points on September 8, with the decline broad-based: 63 stocks fell against only four gainers. Major banking names, including FirstHoldCo, Access, and UBA, were among the notable decliners.…

Dangote Refinery Posts N19.13trn in Revenue in H1-2026 Dangote Petroleum Refinery has delivered a transformational first-half 2026 performance, posting N19.13 trillion ($13.91 billion) in revenue for the six months ended June 30, 2026, more than double the N8.638 trillion recorded in H1 2025. The 121.46% year-on-year revenue expansion marks a decisive inflection point for Africa’s largest single-train refinery as production stabilisation, higher throughput and stronger petroleum-product sales increasingly translate installed capacity into earnings. The most significant shift, however, is at the bottom line. The refinery reported $1.82 billion in profit after tax, equivalent to approximately N2.5 trillion at the exchange…