Author: Julius Alagbe

Geregu Power Plc’s profit fell by about 28% year on year to N10.431 billion in the first quarter of financial year 2025 ….

Zenith Bank Plc bucked the negative trend in the equities market as the financial company’s market value increased by more than N119 billion

Nigerian Exchange Sheds N141bn as Investors Dump OANDO, MTNN The Nigerian Exchange (NGX) market capitalisation shed more than N141 billion as investors dumped Oando and MTN Nigeria Plc shares in the local bourse. Despite recording a positive market breadth, the Nigerian stock market closed the day on a negative note, as key performance indicators dropped by 0.21%, effectively erasing the previous day’s gain. Stockbrokers highlighted that the downturn was driven by selling pressure in Oando Plc, telecom company MTN Nigeria, and other medium-cap stocks. The profit-taking activities triggered a loss of approximately ₦141 billion in investors’ wealth by the end…

T-Bills Yield Falls as Unmet Bids, Rates Hike Trigger Demand The average yield on Nigerian Treasury bills (NTB) bumped to 21% in the secondary market as investors sought to fill unmet bids at the recently concluded primary market auction. The market recorded demand for new bills sold to investors in the primary market as banks and portfolio managers continue to play actively in the bills market. Due to the bullish momentum, the average yield contracted by 8 bps to 21.1%. Across the curve, the average yield declined at the short (-1bp), mid (-1bp) and long (-14 bps) segments, according to…

Infracredit Listing Boosts NASD Securities Index NASD over-the-counter (OTC) exchange market capitalisation climbed to N1.9 trillion following Infracredit shares listing on the platform. At the NASD OTC exchange, market capitalization increased by 0.32% on the day. Reflecting the addition, the NASD Securities Index rose by 1.70%, closing at 3,287.85 points. The expansion in market capitalization was majorly due to the listing of 11.2 million placement shares of INFRACREDT, which were admitted at a price of N2.43 per unit. Following this, the newly listed shares were marked down due to a proposed dividend payment of 9 kobo by the company. In…

AFC Hits All-Time High Revenue of $1.1bn as Projects Unlock Growth Africa Finance Corporation (AFC) has announced its strongest financial performance to date, with total revenue for the year ended 31 December 2024 surpassing US$1 billion for the first time in the corporation’s history. This record performance marks a significant milestone in AFC’s mission to close Africa’s infrastructure gap through scalable, de-risked investments that attract global capital and deliver tangible development outcomes. The Corporation posted a 22.8% increase in total revenue to US$1.1 billion and a 22.3% rise in total comprehensive income to US$400 million, up from US$327 million in…

Nigeria to Exit Financial Action Task Force Grey List—SEC The Securities and Exchange Commission (SEC) has expressed optimism that Nigeria is on the verge of being removed from the Financial Action Task Force (FATF) grey list. This confidence stems from the recent signing of the Investments and Securities Act (ISA 2025) by President Bola Tinubu; Dr. Emomotimi Agama, Director-General, SEC, confirmed this in a statement on Wednesday. A key component of this new legislation is the inclusion of comprehensive regulations for digital assets, a factor that the FATF has emphasised in its assessment of countries on the grey list. Nigeria…

Jim Ovia Receives Prestigious Freedom of the City of London Honour The Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, has been admitted to the prestigious Freedom of the City of London in a distinguished ceremony held at the Mansion House, City of London, on Monday, April 7th, 2025. This prestigious accolade is a testament to Mr. Ovia’s exceptional contributions to the global financial landscape, unwavering commitment to fostering economic development, and dedication to philanthropic endeavours that have positively impacted countless lives. The Freedom of the City of London, a time-honoured tradition dating back to the 13th century,…

N5.51trn Pension Investment to Boost Economy- PenCom The Director General (D-G) of the National Pension Commission (PenCom), Omolola Oloworaran, says the N5.51 trillion pension investment will boost the country’s real sector development. This is contained in a statement issued by the management of the commission in Abuja on Tuesday. The investments, she said, span infrastructure, private equity vehicles, real estate, and subnational infrastructure initiatives, among others. Oloworaran made this disclosure during a meeting with a delegation from the International Monetary Fund (IMF). She said that the meeting was on matters relating to the pension industry and broader financial sector developments.…

Nigerian Treasury Bills See FPIs Selloffs, Yield Settles Near 20% The average yield on Nigerian Treasury bills (NGX) dipped by four basis points amidst mixed trading sentiment in the secondary market at the beginning of the week post 14% U.S. tariffs on Nigeria’s exports. Foreign portfolio investors (FPIs) led the selling rally in the secondary market amidst rising demand for safer assets and concern the Nigerian government could face revenue pressures following a higher US tariff on exports. Trading activities in the secondary market ended on a bearish note on Monday as the average yield expanded by 4 basis points…