Author: Ogochukwu Ndubuisi

Equities Investors Gain N1.18trn as NGX Index Climbs Equities investors gained about N1.18 trillion on the Nigerian Exchange (NGX) due to sustained buying interest in stocks with fundamentals and upside potential. The Nigerian equity market closed trading activities on a bullish note, as key performance indicators showed mixed outcomes. The All-share index increased by +0.62%, while the market capitalization rose by +0.74%, stockbrokers said. The mixed performance was attributed to the additional listing of 26,562,647,265 Ordinary Shares of 50 Kobo Each at N2.43 Per Share arising from Abbey Bank Plc’s Private Placement. The All-Share Index (ASI) added 1,523.59 basis points…

Nigerian Stock Market Surges as Investors Gain N316bn Market Report: The Nigerian stock market surged on Wednesday as investors gained about N316 billion, with year-to-date return increasing to 57.31%. The Nigerian Exchange (NGX) maintained its upward trajectory as investors maintained positive sentiment in stocks with strong fundamentals and upside potential. The market index, or All-Share Index (ASI) inched upward by 0.20% to close at 244,791.79 points, adding N315.94 billion to market capitalization, which closed at N158.71 trillion. Trading activity was mixed, as volume and turnover rose 31.14% and 3.20% to 662.43 million shares and N37.45 billion respectively, while deal count…

The Association of Telecommunications Companies of Nigeria (ATCON) has called for lower financing

Financial Inclusion Must Translate to Stronger Household, Business Resilience – CBN The Governor of the Central Bank of Nigeria (CBN) Mr Olayemi Cardoso, said that financial inclusion must go beyond access to services and deliver measurable improvements in Nigerians’ financial wellbeing. Cardoso made the statement at the 2026 Access to Financial Services in Nigeria (A2F) survey, in Abuja on Wednesday. Cardoso was represented by the Director, Consumer Protection and Financial Inclusion CBN, Dr Aisha Olatinwo. The CBN governor commended Enhancing Financial Innovation and Access (EFInA) for its sustained investment in demand-side evidence and partnership with the CBN and financial inclusion…

US Announces Visa Curbs For Some South African Nationals The United States has announced a new visa restriction policy targeting some South African nationals. Secretary of State Marco Rubio said on Tuesday that the restrictions will apply to individuals deemed responsible for laws or policies that allow land seizures without compensation, race-based discrimination, or incitement of violence against minority groups in South Africa. Rubio said Pretoria had failed to address concerns Washington had previously raised. The announcement marks the latest strain in US-South Africa ties under President Donald Trump’s second term, with the administration accusing South Africa of government-sponsored discrimination…

Okonjo-Iweala Urges N’Delta States to Establish Special Economic Zones The Director-General of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala, has urged Niger Delta states to establish Special Economic Zones (SEZs). Okonjo-Iweala made the call virtually on Tuesday at the Niger Delta Economic and Investment Summit in Port Harcourt. The summit, under the theme ‘Driving Investment, Innovation and Industrial Growth in the Niger Delta’, was organised by the Niger Delta Chambers of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA). The WTO chief said the Niger Delta possessed the ingredients to become Nigeria’s next major industrial hub, alongside Lagos. She, however,…

PDP Defends Wike’s Support for Tinubu The Peoples Democratic Party (PDP) has defended FCT Minister Nyesom Wike’s decision to support President Bola Tinubu while retaining his PDP membership. PDP National Publicity Secretary, Jungudo Mohammed, described the decision as a legitimate constitutional right in a statement issued on Tuesday. Mohammed dismissed the rejection of Wike’s support by the All Progressives Congress (APC) Governors’ Forum, attributing it to fear and poor governance. He said APC governors initially mistook Wike’s support for Tinubu as an endorsement of the APC. According to him, they later realised that the support did not amount to surrendering…

PenCom Extends Online Pension Verification Exercise to December The National Pension Commission (PenCom) has extended the deadline for the ongoing mandatory One-Time Online Verification and Enrolment Exercise for employees of treasury-funded Ministries, Departments and Agencies (MDAs) to Dec. 31. PenCom announced the extension in a statement issued on Tuesday, saying the exercise, which commenced in February, was initially scheduled to end on July 31. It said that the extension followed several requests by MDAs for additional time to enable eligible employees to participate in the online enrolment process. The commission urged eligible employees who were yet to enrol, as well…

Nigerian Exchange (NGX) market capitalisation increased by more than N575 billion

NDLEA Dismantles Another Industrial Meth Lab, Arrests Fleeing Mexican Kingpin The National Drug Law Enforcement Agency (NDLEA) has dismantled yet another industrial-scale methamphetamine laboratory and arrested a Mexican drug kingpin who was attempting to flee the country through the Lagos airport. The NDLEA chairman, retired Brig.-Gen. Buba Marwa said this while briefing the media on the latest development on Tuesday in Lagos. This is contained in a statement by the Director, Media and Advocacy, NDLEA, Mr Femi Babafemi on Tuesday. Marwa said that the operation was a fresh one that further exposed the desperation by transnational cartels to infiltrate Nigeria’s…