Author: Gilbert Ayoola
Gilbert Ayoola is the Chairman of Ibadan Zone Shareholders’ Association. He is an investment expert with years of experience that cut across the Nigerian capital market.He has deep knowledge of the Nigerian economy, tracking the performance of listed companies, banking and finance, and government policy.With 20+ years of experience working with numbers across African financial markets, Gilbert delivers reports on corporate earnings and airs opinions on banks' activities and other money market players.He conducted extensive financial analyses of Nigerian Exchange’s Top 30-listed companies with depth and dexterity that match global best practices.Gilbert Ayoola is based in Ibadan, Oyo State, Nigeria
Market Regulator Sets for T+1 Settlement, Suspends Key Trading Rules The market regulator, the Nigerian Exchange (NGX), has suspended several operational trading requirements ahead of its landmark transition to a T+1 settlement cycle, a strategic move aimed at ensuring a seamless migration to a faster and more efficient post-trade environment effective June 1, 2026. The temporary suspension and modification of specific market rules reflect the Exchange’s commitment to aligning its operational framework with global best practices while supporting the implementation of the provisions contained in the Investments and Securities Act (ISA) 2025. Under the revised framework, brokers and market participants…
Dangote Sugar’s N486bn Rights Issue: A High-Stakes Reset for a Once-Dominant Consumer Giant Dangote Sugar Refinery Plc is attempting one of the most consequential balance sheet restructurings in Nigeria’s consumer goods sector through its proposed N486 billion Rights Issue at N60 per share. The capital raise is not merely a funding exercise; it is a survival-driven financial reset aimed at rescuing the company from the burden of excessive leverage, foreign-exchange pressures, and structurally elevated production costs. As of March 2026, Dangote Sugar carried total debt obligations of approximately N628 billion against shareholders’ equity of just N148 billion. This places the…
Fidson Rights Issue Sees Strong Institutional Take-Up Fidson Healthcare Plc delivered a decisive signal of shareholder confidence after its recently concluded rights issue closed oversubscribed at 117%, despite shareholders ultimately receiving only 85% allotment on additional subscriptions. Importantly, the company achieved full uptake of the rights on offer, underscoring strong capital market appetite for the pharmaceutical manufacturer. The structure of participation, however, revealed a sharply concentrated ownership dynamic. Allocation data showed that the largest investors overwhelmingly dominated the exercise. The 100 million shares-and-above category, comprising just two applicants, secured 332 million allotted shares, approximately 55% of the entire issue. When…
Nigeria’s Capital Market Enters Fast Lane as NGX Adopts T+1 Settlement Cycle Nigeria’s capital market is set for a major operational transformation as the Nigerian market officially migrates from a T+2 to a T+1 settlement cycle beginning Monday, June 1, 2026 — a move expected to accelerate liquidity, improve market efficiency, and strengthen investor confidence. Under the new framework introduced by the Securities and Exchange Commission and the Nigerian Exchange Group, stock market transactions executed on the Nigerian Exchange will now be settled within one business day instead of two. The transition represents one of the most significant post-trade reforms…
First HoldCo Plc extended its bullish momentum as renewed investor interest and strong market participation pushed its share price higher.
Nigeria’s headline inflation rate edged higher to 15.69% in April 2026 from 15.38% recorded in March, according to the latest data released by the National Bureau of Statistics, marking the highest inflation reading in five months despite remaining significantly below the 26.82% level recorded in April 2025.
Wema Bank has firmly rejected allegations surrounding the sale of high-value properties in Banana Island linked to the defunct Gulf Bank, maintaining that the transactions were lawful, commercially justified, and executed strictly within the framework of debt recovery obligations owed to the bank.
In capital markets, there are moments when rhetoric becomes irrelevant, and conviction is measured only in cash deployed. Today, Wednesday, May 13, 2026, delivered one of those moments.
Nigerian Aviation Handling Company (NAHCO) Plc has reinforced investor confidence with a bold shareholder reward strategy following the release of its 2025 audited report, underscoring the company’s accelerating earnings momentum and resilient balance sheet expansion despite Nigeria’s challenging macroeconomic environment.
First HoldCo Plc delivered a deeply mixed but strategically revealing audited FY2025 performance, reflecting the harsh realities of Nigeria’s elevated interest rate regime, regulatory tightening, asset repricing pressures, and post-FX reform adjustments within the banking industry.