Author: Olu Anisere

Jaiz Bank Falls as Investors Exit Positions Amidst Earnings Forecast Jaiz Bank Plc’s market value dropped by approximately N8.5 billion in the equity market, reflecting investors’ negative sentiment on the Islamic lender’s prospect. Its share price closed at N4.37 on Friday following sell-offs, which is more than 20.5% below its highest market valuation in 52 weeks. Based on data from the Nigerian Exchange, trading volumes were significant throughout, reflecting increased market activity driven by investors seeking to exit positions. The Islamic lender traded against the stock market trend, lost N8.5 billion from its opening value on the Nigerian Exchange last…

Oando Slides as Negative Investors Sentiment Persists The Indigenous energy company, Oando Plc, market value declined, albeit very softly, amidst declining demand for energy stock in the Nigerian stock market. The company, which ranked strongly among top performers in the Nigerian Exchange in 2024, has seen significant price depreciation driven by investors’ negative sentiment. The stock trading pattern reflects heightened volatility spurred by investors’ negative perceptions.Despite strong earnings fundamentals, rock-solid capital expenditure, and an encouraging expansion drive, the oil stock has been falling. The company share price declined to N47.75 on Friday close as the trading data showed that 1.080…

Dangote Cement Declines to N8.71 Trillion on NGX Dangote Cement Plc’s stock market value declined below N9 trillion on the Nigerian Exchange (NGX) as selling pressures outpaced buying interest. The cement company’s share price closed at N516.20 on Friday as 551,027 units valued at N286.849 million were traded in the local bourse. At the close of trading, the market value of Dangote Cement Plc’s 16.873 billion shares outstanding was valued at N8.710 trillion – reflecting negative investors’ sentiment. Trading data from the Nigerian Exchange showed that Dangote Cement Plc lost more than N199.107 billion as the share price fell by…

Crude Oil Prices Edge Higher Week-on-Week over Supply Risks The oil posted a weekly surge in prices as markets reacted to supply risks in Russia and declining US crude inventories. The international benchmark Brent crude traded at $67.35 per barrel at Friday, up around 2.9% from last week’s close of $65.45. Similarly, the American benchmark West Texas Intermediate (WTI) stood at $63.39 per barrel, up roughly 2.7% from $61.70 last Friday. The week began on a positive note, driven by concerns over potential Russian supply disruptions following a series of Ukrainian drone attacks targeting key infrastructure. On September 14, an…

Banking Index Drags by Uncertainties, Unmet Expectations The banking index pulled back over negative uncertainties over top banks’ earnings outlook. Trading activities in the Nigerian Exchange (NGX) were broadly positive, though financial stocks drove against the trend. Investors reacted negatively to the recent earnings release by two leading tier-1 lenders, with significant price depreciations across counters, including sell pressures on insurance names. Zenith Bank, and the United Bank of Africa released their results showing impressive revenue growth, however, net income failed to impress investors, resulting to early takeofffrom the local bourse. The two banks declared interim dividends, but UBA slashed…

Treasury Bills Yield Falls to 18.48% Ahead of Rate Decision The average yield on Nigerian Treasury bills fell to 18.48% in the secondary market due to sustained bargain hunting on naira assets ahead of the monetary policy decision on interest rate. With disinflation, real return on naira investments have become relatively strong versus emerging markets in the short term, supported by a high interest rate environment.The attraction of the fixed interest securities instrument caused associated yields to reduce across the short, belly and long end of the curve. Last week, the Treasury bills market traded mixed starting quietly with modest…

FG Unveils National Energy Master Plan Implementation Committee Chief Uche Nnaji, the Minister of Innovation, Science and Technology, has inaugurated the National Energy Master Plan Implementation Committee (NEMiC) in a major step towards repositioning Nigeria’s energy sector. This is contained in a statement issued in Abuja on Saturday by Dr Robert Ngwu, the Minister’s Senior Special Adviser. He quoted the minister as tasking the committee with the responsibility of spearheading the country’s transition to a cleaner, more inclusive and sustainable energy future. The inauguration marked the beginning of the full implementation phase of the National Energy Master Plan (NEMP). Nnaji,…

Nexamont Acquires 21.4% Interest in Royal Exchange Royal Exchange Plc has announced the acquisition of 1.77 billion ordinary shares in the company by Nexamont Company Ltd. This is according to a corporate disclosure released through the Nigerian Exchange Ltd. The disclosure was signed by Nova Finance Securities Ltd., the financial advisers to Nexamont. It said that the transaction was executed through the secondary market, represented 21.4 per cent equity stake in Royal Exchange Plc. The statement reads, “Royal Exchange Plc received a letter from Nova Finance Securities Ltd., the Financial Advisers to Nexamont Company Ltd., notifying the Company that Nexamont…

Zenith Bank Gross Earnings Hit N2.5trn, Declares N1.25 Interim Dividend Zenith Bank Plc has released its Group financial results for the half year ending June 2025, posting an impressive profit before tax of N625.629 billion. Following this robust performance, the Board has approved an interim dividend of N1.25 per share, a 25% increase over the N1.00 paid in the first half of 2024, maintaining the Bank’s position as a leading dividend-paying Bank and reinforcing its longstanding commitment to rewarding its esteemed shareholders. The substantial dividend payout reflects exceptional underlying performance. Despite higher provisioning requirements from the industry-wide exit of the…

Nigeria’s External Reserves Hit $42bn, Highest Since 2019 Nigeria’s gross external reserves hit $42 billion this week, the highest level seen since September 2019, boosted by additional inflows across sources. In Sept., total inflows into external reserves reached $692.28 million, according to data from the Central Bank of Nigeria (CBN). The nation’s foreign reserves continue to see successive inflows from hydrocarbon export revenue. Strong foreign reserves continue to boost investors’ confidence that upstreaming FX would not be difficult as they park US dollar into the financial market instruments. In addition, rising oil production remains positive for the naira as fiscal…