Latest news from the Nigerian capital market, economy, and regulatory bodies
26 articles
The Nigerian Exchange All-Share Index advanced 1.2% on Thursday, closing at 98,412.55 points, driven by strong buying interest in tier-1 banking stocks. GTCO, Zenith Bank, and Access Holdings collectively accounted for over 60% of total market value traded.
Guaranty Trust Holding Company Plc announced a profit before tax of ₦1.2 trillion for the first half of 2026, surpassing analyst consensus estimates by 14%. The result was driven by strong net interest income and a significant improvement in non-interest revenue.
Nigeria's headline inflation rate moderated to 31.2% in June 2026, down from 32.7% in May, according to the National Bureau of Statistics. Food inflation declined to 34.8% while core inflation remained sticky at 27.4%, reflecting persistent structural pressures.
The Nigerian Exchange All-Share Index advanced 1.2% on Thursday, closing at 98,412.55 points, driven by strong buying interest in tier-1 banking stocks. GTCO, Zenith Bank, and Access Holdings collectively accounted for over 60% of total market value traded.
Thursday's trading session recorded a positive market breadth with 41 stocks advancing against 18 declining. Total volume reached 512 million units valued at ₦8.3 billion, representing a 23% increase from Wednesday's session.
Seplat Energy Plc shares surged 8.5% to reach a 52-week high of ₦4,820 per share, buoyed by rising crude oil prices and positive production guidance for Q3 2026. The stock has gained 34% year-to-date.
Consumer goods stocks lagged the broader market on Thursday, with the sector index declining 0.4%. Analysts cite persistent inflationary pressures and weakening consumer purchasing power as key headwinds for the sector in H2 2026.
Foreign portfolio investors recorded a net inflow of ₦12.4 billion in the week ended July 11, marking the third consecutive week of positive foreign participation. This signals renewed confidence in Nigerian equities amid improving macroeconomic conditions.
Guaranty Trust Holding Company Plc announced a profit before tax of ₦1.2 trillion for the first half of 2026, surpassing analyst consensus estimates by 14%. The result was driven by strong net interest income and a significant improvement in non-interest revenue.
Dangote Cement Plc has declared an interim dividend of ₦50 per share for the first half of 2026, with a qualification date of August 5, 2026. The company reported revenue growth of 18% year-on-year, supported by price increases and volume recovery.
MTN Nigeria Communications Plc announced that its active subscriber base has crossed the 90 million mark, a milestone the company attributes to aggressive network expansion and competitive data pricing. Data revenue now accounts for 48% of total revenue.
Zenith Bank Plc has successfully completed its ₦290 billion rights issue, with the offer oversubscribed by 12%. The proceeds will be used to meet the CBN's recapitalisation requirements and fund strategic expansion across retail and digital banking.
Airtel Africa Plc is reportedly in advanced discussions with the Nigerian Exchange Group about a potential secondary listing on the NGX, according to sources familiar with the matter. A listing could significantly boost market capitalisation and liquidity on the exchange.
Nigeria's headline inflation rate moderated to 31.2% in June 2026, down from 32.7% in May, according to the National Bureau of Statistics. Food inflation declined to 34.8% while core inflation remained sticky at 27.4%, reflecting persistent structural pressures.
Nigeria's economy expanded by 3.8% in Q1 2026, up from 3.2% in Q4 2025, driven by growth in the services sector and a recovery in oil production. The NBS attributed the improvement to increased government capital expenditure and improved business confidence.
The Nigerian naira appreciated to ₦1,598 per US dollar in the official foreign exchange market on Thursday, its strongest level in six weeks. The CBN attributed the improvement to increased dollar supply from diaspora remittances and improved oil export receipts.
Nigeria's gross external reserves increased to $38.2 billion as of July 15, 2026, the highest level since March 2024. The CBN Governor attributed the improvement to higher oil revenues, improved diaspora remittances, and reduced import demand.
The Federal Government has approved a ₦2.1 trillion supplementary budget focused on critical infrastructure, including roads, power, and rail. Finance Minister confirmed the budget will be funded through a combination of domestic borrowing and multilateral loans.
Nigeria has successfully priced a $1.5 billion Eurobond at a coupon rate of 9.75%, with the offer oversubscribed by 3.2 times. The proceeds will be used to refinance existing external debt and fund capital projects in the 2026 budget.
The Federal Inland Revenue Service collected ₦8.4 trillion in tax revenue for the first half of 2026, exceeding its target by 12%. The FIRS Chairman attributed the performance to improved compliance, digital tax administration, and the expansion of the tax net.
The Securities and Exchange Commission has approved a comprehensive regulatory framework for digital asset securities, including tokenised equities and digital bonds. The new rules take effect from October 1, 2026, and are expected to attract fintech investment to the capital market.
The Securities and Exchange Commission has sanctioned three stockbroking firms for market manipulation and insider trading violations. The firms have been fined a combined ₦850 million and their dealing licences suspended pending a full investigation.
The SEC has launched a new Investor Protection Fund with an initial capitalisation of ₦5 billion, aimed at compensating retail investors who suffer losses due to broker insolvency or fraud. The fund is part of the Commission's 10-year capital market master plan.
NGX Group Plc reported a 28% increase in revenue for the first half of 2026, driven by a surge in new listings, increased trading activity, and growth in its data and analytics business. The exchange welcomed 7 new listings in H1, the highest in five years.
The Nigerian Exchange has announced the introduction of a T+1 settlement cycle for equity transactions, effective September 1, 2026. The move aligns Nigeria with global best practices and is expected to reduce counterparty risk and improve market liquidity.
The Nigerian Exchange has launched the NGX Sustainability Index, tracking 30 listed companies that meet defined environmental, social, and governance criteria. The index is designed to attract ESG-focused foreign institutional investors to the Nigerian market.
The Central Bank of Nigeria's Monetary Policy Committee voted unanimously to hold the Monetary Policy Rate at 26.75% at its July 2026 meeting. The Governor signalled that the MPC is monitoring inflation trends closely and may begin a gradual easing cycle in Q4 2026 if disinflation continues.
Fourteen commercial banks have fully met the CBN's new minimum capital requirements ahead of the December 2026 deadline, according to the apex bank. Six banks are still in the process of raising capital through rights issues and private placements.
The Central Bank of Nigeria has disbursed ₦500 billion under the Agricultural Credit Guarantee Scheme Fund in H1 2026, supporting over 180,000 smallholder farmers across 36 states. The scheme is part of the CBN's broader financial inclusion and food security agenda.