Author: Ogochukwu Ndubuisi

Nigerian Exchange Cracks as Equity Investors Pull Out Funds Equities investors trading highs and lows on Nigerian Exchange (NGX) lost about N472 billion on Monday as investors pulled out funds from selling their banking, insurance, industrial and consumer stocks The selling actions that started two weeks ago have lingered as Q3 earnings festival euphoria fades. Within the period, the market has been bleeding for 10 out of 11 trading sessions, with an all-week price depreciation last week alone. The sustained negative sentiment dragged key performance indicators southward at the beginning of the week after N2.83 trillion was knocked off from…

DisCos Meter 70, 888 New Customers in August –NERC The Nigerian Electricity Regulatory Commission (NERC) says Electricity Distribution Companies (DisCos), metered no fewer than 70,888 new electricity customers in August, 2025. This is made known in the commission’s Metering Factsheet for July and August 2025, released on its website on Monday in Abuja. According to the factsheet, 70,888 customers were metered in August, compared to 76,783 in July thus reflecting ongoing metering efforts across the Nigerian Electricity Supply Industry (NESI). According to the factsheet, the total number of active customers across all DisCos increased from 11.89 million in July to…

CBN Intervenes in Nigerian FX Market with $50 Million The Central Bank of Nigeria (CBN) intervened in the forex market to calm rising US dollar demand pressures on the local currency, the naira, exchange rate. The Apex Bank pumped $50 million into the official window as FX inflows declined again by 14% last week to about $900 million. It had previously fallen from $1.37 billion the previous day. Despite the solid intervention, the naira still lost N15 week on week, even with the reported inflows from exporters, non-bank corporate, individuals and other market players. An updated FX report from the…

Bank Failure: NDIC Laws Now Stronger to Prosecute Parties at Fault–MD The Nigeria Deposit Insurance Corporation (NDIC), says its laws are now stronger and more effective to carry out its bank liquidation mandate. Ths is contained in a statement issued by Hawwau Gambo, NDIC’s Head, Communication and Public Affairs Department, in Abuja on Sunday. Gambia quoted Mr Thompson Sunday, the Corporation’s Managing Director as saying that NDIC’s powers in liquidation of failed insured institutions had been enhanced with the enactment of the NDIC Act No. 30 of 2023. Sunday said that the Banks and Other Financial Institutions Act (BOFIA) 2020,…

Ethereum in Fresh Rally after Crypto Sell-offs Ethereum, the world’s second-largest digital asset, rebounded by more than 4% in the last 24 hours after fast and furious sell pressures that plunged its market value below $400 billion. ETHUSD is picking up momentum as trading volume reached $26.425 billion during an intraday trading session on Sunday after it lost more than 9% last week. Ethereum rose 4.28% over the last 24h, outperforming Bitcoin (+1.6%) and the broader crypto market (+2.18%). Today’s gains align with a broader rebound after recent declines, driven by improved liquidity conditions and bullish ETF inflows. Trading data…

Court Forecloses Nnamdi Kanu’s Defence, Fixes Nov. 20 for Judgment The Federal High Court in Abuja, on Friday, foreclosed Nnamdi Kanu’s defence and adjourned until Nov. 20 for judgment in the alleged terrorism offences preferred against him by the Federal Government. Justice James Omotosho fixed the date after Kanu’s defence was foreclosed following his insistence that he would not enter his defence under a repealed laws. Justice Omotosho held that Kanu, having exhausted the six days allocated to him by the court to conduct his defence, had waived his right to do so. The judge said he would have extended…

FEC Approves PH Airport Concession, Biometric Checks at Terminals ‎ The Federal Executive Council (FEC) has approved a series of key aviation projects, including the concession of Port Harcourt International Airport and the introduction of biometric verification systems across Nigerian airports. ‎Minister of Aviation and Aerospace Development, Festus Keyamo, disclosed this while briefing State House correspondents after the FEC meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja. Keyamo said eight memos from his ministry were considered and approved, covering airport management, infrastructure, safety, and modernisation initiatives. He said one of the approvals was for contracts to…

Equity Investors Lose N348bn Amidst Extended Market Correction The Nigerian Exchange (NGX) shrank by about N348 billion on Thursday as investors’ equity portfolio value declined by N348 billion in the latest round of market correction. Key performance indicators continue to plunge as selling pressures lasted for eight out of nine trading sessions in spite of earnings releases, with year-to-date return dropping to 45.76%. Investors’ sentiment has been negative, with profit-taking activities seen in some stocks that recently posted positive price movement. Weak bargain hunting in banking names keeps the Nigerian market tight, with some corrections seen in some overpriced stocks.…

NIS to Introduce Single-Travel Emergency Passport for Nigerians The Nigeria Immigration Service (NIS) has announced plans to introduce a Single Travel Emergency Passport (STEP) to replace the existing Emergency Travel Certificate (ETC) for Nigerians abroad. The Comptroller-General of Immigration, Kemi Nanna Nandap, said the new document forms part of the agency’s ongoing reforms to strengthen identity management and border governance in line with global best practices. She made the announcement while speaking at the Joint Thematic Meeting of the Khartoum, Rabat, and Niamey Processes, co-hosted by Nigeria in collaboration with the Government of France. The meeting brought together key migration…

Equity Investors Lose N1.3trn as NGX Index Plunges by 1.35% The equity segment of the Nigerian Exchange (NGX) bled deeper on Wednesday, closing in negative territory as sustained profit-taking continued to weigh on overall performance. With sell-offs cutting deeper, the NGX All-Share Index (ASI) declined by 1.35% to close at 150,812.02 points, trimming the year-to-date (YTD) return to 46.52%. Consequently, investors lost approximately ₦1.306 trillion in market value, bringing total market capitalisation down to ₦95.82 trillion. Market sentiment remained weak, reflected in a negative market breadth of 15 gainers against 46 losers. Total volume of traded increased by +63.36% while…