Author: Julius Alagbe

MTN Nigeria Slides amidst Substantial Cross Deals MTN Nigeria pulled back from its fresh 52-week high in the equities market due to sell-side activities that reduced the telecommunication company’s market value by more than 2%. Data from the Nigerian Exchange (NGX) showed that MTN Nigeria’s share price declined to N279 as a strong volume of the telecom company’s units, totaling 16.096 million, were traded in the local bourse. Ticker: MTNN, which fell 2.07%, was the biggest drag on the All-Share Index (ASI), despite strong crossing activity, according to AIICO Capital Limited. The telecom shares totaling 10 million units were priced…

Nigerian Exchange Shrinks by N167bn as Investors Exit Positions Nigerian Exchange (NGX) market capitalisation plunged as equities investors lost about N167 billion to negative trading activities by sell-side actors. The market opened the week on a negative note, as key market performance indicators declined by 0.24% due to sell-side pressure. Stockbrokers saw profit-taking activities in recently appreciated medium- and large-cap stocks in some major market sectors.  Notable large-cap decliners included NB, MTNN, and DANGSUGAR, among others. According to data obtained from the Nigerian Exchange, the All-Share Index decreased by 265.42 basis points today, representing a drop of 0.24% to close…

Nigerian Bonds Yield Rises Ahead of April Inflation The average yield on Nigerian government bonds increased as investors trimmed interest in the secondary market ahead of inflation data for the month of April. The disinflation occurrence in March reduced real return on investment, and the market expects the monetary policy committee of the Central Bank to maintain the status quo at the next meeting. The statistics office is scheduled to release inflation figures in the latter part of the week with mixed expectations after a surprise surge in the consumer price index in March. Last week, trading activities in the…

Nigerian Treasury, OMO Bills Yields Decline after Auctions The average yield on Nigerian Treasury bills and OMO bills declined as investors sought to fill lost bids at the primary market auctions. The Central Bank of Nigeria (CBN) was in the market to sell OMO bills to banks, and foreign portfolio investors last week.  The authority also sold Nigerian Treasury bills as part of an efforts to management liquidity level in the financial system Both auction results reflect investors’ interest in the naira assets ahead of inflation data for April in the new week. Post-auction trading activities were positive, with interest…

‘Nigeria’s Exit from IMF Debt List Critical Signal to Global Financial Markets’ Analysts have applauded Nigeria’s exit from the International Monetary Fund (IMF) debt list, saying the development has sent a positive signal about the country’s ability to manage its external affairs without stress. The repayment of the IMF loan has sent positive signals to global financial markets, and this is expected to affect the country’s credit ratings positively. Nigeria officially exited the IMF debt list following the full repayment of its $3.35 billion emergency loan secured during the height of the COVID-19 pandemic. The financing, drawn under the IMF’s…

Multiverse Jumps by 58% on Hope of Improve Mining Operation Multiverse Mining and Exploration Plc skyrocketed in the equities market with about a 58% price uptick that pushed the mining company’s market value to N4.261 billion. In its first-quarter earnings scorecard, Multiverse’s earnings performance went down sharply due to reduced business activities that affected its sales and profitability. But investors appear to have started to take positions in the exploration company after rapid selloffs that pulled Multiverse down from its highest valuation in 52 weeks. With 48.90% free float, stock market activities were relatively strong all through the week, reflecting…

Stockholders’ Wealth Boosted by N1.69 trillion Gain on NGX Stockholders’ wealth was boosted by a N1.69 trillion gain recorded in the Nigerian Exchange (NGX) trading platform week on week, stockbrokers said. The local bourse sustained its bullish momentum during the week as investor sentiment turned increasingly positive, fueled by strong first-quarter 2025 earnings results. The All-Share Index (ASI) rose by 0.27% week-on-week to close at 106,042.57 points, driven by strong buy-side activities that lasted for four out of five trading sessions. According to stockbrokers, investors’ interest was seen particularly within the consumer goods sector. In line with the index movement,…

Tinubu Changing Leadership Narrative in Nigeria – Wike The Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, says President Bola Tinubu is changing the leadership narrative in Nigeria. Wike stated this in Abuja on Saturday, after inspecting some ongoing projects in preparation for the commemoration of Tinubu’s second year in office. He said that Tinubu’s impactful leadership was putting smiles on the faces of Nigerians, adding that the president had given first class infrastructure to residents of Abuja. “I have said before that leadership is a major issue. When you have right leadership, people will benefit from it.…

CSCS Shareholders Approve N8.8bn Total Dividend in 2024 The Central Securities Clearing System (CSCS) shareholders have approved the payment of N8.8 billion final dividend of N1.76 per share for the 2024 financial year. The dividend approval was at the 31st Annual General Meeting (AGM) of CSCS Plc held on Friday, in Lagos. This is an increase from the N7.5 billion of N1.50 dividend paid in the year 2023. Speaking during the AGM, Mr Temi Popoola, Chairman, Board of CSCS, said, “In recognition of our strong performance for the year 2024, the board of directors approves a dividend of N1.76 per…

Nigerian Bond Yield Slides over Bargain Hunting The average yield on Nigerian government bond slide in the secondary market over bargain hunting supported by an improved investors’ sentiment. Improved investor sentiment in the secondary market for FGN bonds led to a slight 3 basis point decline in average yields, bringing them downward. Inflation fear and uncertainties that lie ahead continue to drive portfolio rebalancing efforts. Then, disinflation set in which caused real return on investors to reduce while the monetary authority kept rate at double digit high. But then, investors’ appetite for the naira asset remained strong, with pension fund…