Economy
Weekly Report: Investors on Nigerian Bourse Lose N784bn
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Over the course of the week, investors on the Nigerian Exchange Ltd.
(NGX) equities market lost a total of N784 billion, week-on-week.Specifically, the market capitalisation, which opened the week at N56.296 trillion, shed N784 billion or 1.39 per cent to close the week at N55.
512 trillion.The All-Share Index also declined by 1.
39 per cent or 1,387 points to close the week at 98,152. 91, in contrast to 99,539.75 recorded in the previous week.Similarly, all other indices finished lower with the exception NGX Insurance, NGX MERI Growth, NGX MERI Value and NGX Industrial Goods which appreciated by 0.02, 1.13, 0.09, and 0.38 per cent respectively, while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Profit-taking in MTN Nigeria, Zenith Bank, FBN Holdings, among other declined stocks outweighed buy interest in Guaranty Trust Holding (GTCO), United Bank of Africa (UBA), Fidelity Bank, among other declined stocks to drive the market to a negative terrain.
However, 27 equities appreciated in price during the week higher than 13 equities in the previous week.
43 equities depreciated in price lower than 62 in the previous week, while 84 equities remained unchanged, higher than 79 recorded in the previous week.
On the top gainers table, Sunu Assurances led by 25k to close at N1.25, CAP Plc followed by N4.85 to close at N28.85, Livestock Feeds Plc rose by 21k to close at N1.66 per share.
Japaul Gold and Venture Plc gained 24k to close at N1.91 and Unilever Nigeria advanced by N1.50 to close at N15.10 per share.
On the other side, Oando Plc led the losers table by N2.25 to close at N9.25, Sovereign Trust Insurance trailed by 8k to close at 36k and Thomas Wyatt Plc declined by 36k to close at N1.78 per share.
FBN Holdings shed N3.95 to close at N20.35 and Wema Bank dropped 90k to close at N6.25 per share.
Meanwhile, investors traded 1.839 billion shares worth N34.258 billion in 37,528 deals this
week on the floor of the Exchange.
This is in contrast to 1.597 billion shares valued at N32.313 that exchanged hands last week in 44,915 deals.
The financial services industry, measured by volume, led the activity chart with 1.129 billion shares valued at N22.290 billion traded in 22,008 deals.
Thus contributed 61.38 per cent and
65.06 per cent to the total equity turnover volume and value, respectively.
The conglomerates industry followed with 194.179 million shares worth N2.822 billion in 1,923 deals.
The third place was the construction/real estate industry, with a turnover of 130.702 million shares worth N649.957 million in 556 deals.
Also, trading in the top three equities, namely UBA, Access Holdings Plc and Transnational Corporation Plc, measured by volume accounted for 582.024 million shares worth N10.571 billion in 8,849 deals.
This contributed 31.65 per cent and 30.86 per cent to the total equity turnover volume and value rrespectively. (NAN
Economy
Naira Ends Week Stronger Against Dollar, Gaining N11.17
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The Naira further appreciated in the official market on Friday, trading at N1,474.
78 to the Dollar.Data from the FMDQ Securities Exchange official forex trading platform revealed that the Naira gained N11.17.
This represents a 0.7 per cent increase compared to the previous day’s trading figure on Thursday, when the local currency closed at N1,485.
95 to the Dollar.Trading in the Investors and Exporters (I&E) Forex window on Friday saw a high of N1,495.
01 and a low of N1,447.50.The Naira has remained stable against the US Dollar since December 2024, supported by sustained reforms from the Central Bank of Nigeria (CBN).
The reforms aimed at ensuring transparency in the foreign exchange (FX) market.
CBN Governor Olayemi Cardoso, speaking in Abuja on Thursday at the 2025 Monetary Policy Forum, stated that recent reforms in the FX segment had continued to attract foreign investments.
Cardoso reassured that the apex bank would sustain efforts to ensure continued inflows. (NAN)
Economy
CBN Approves Listing of CFA on NXP forms for Export Repatriation Proceed
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The Nigeria Export Promotion Council (NEPC) says that Central Bank of Nigeria (CBN) has approved CFA Franc to be captured on Nigeria Export Proceed (NXP) forms for the repatriation of export proceeds.
Mrs Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the Non-Oil Export Performance for the year 2024, in Abuja on Friday.
Ayeni said that the council had engaged the CBN on the inclusion of the CFA Franc, adding that it was a dominant currency in cross border trading.
She said that the currency was one of the currencies to be received as export proceeds by the bankers.
“I am delighted to inform you that the CBN has magnanimously approved CFA to be captured on NXP forms for the repatriation of export proceeds.
“We will be working with CBN and the banks to ensure full implementation.
“I must say that this is a remarkable breakthrough for the council and further reaffirms the impact of the council’s current flagship programme,” she said.
Ayeni said that the council distributed hybrid seedlings and farm inputs to over 1,200 farmers across the country.
She added that the council has also distributed sesame, Hibiscus and farm input in the north, cashew in the west and palm seedlings in the east.
She said that the effort was to enhance the capacity of farmers, and processors and increasing production capacity of the farmers.
The executive director said that the NEPC, under the “Go Global, Go for Certification” campaign, was determined to enhance the quality of Made-in-Nigeria products.
According to her, the council commenced the certification of 400 Small and Mediumsized Enterprise (SME) exporters.
“I am delighted to inform you that we have concluded on some and the balance are currently undergoing the certification process.
“At the end of the exercise, a total of 855 SMEs will have benefited from the scheme between the year 2022 to year 2025.
She said that the scheme aimed to enable the SMEs to acquire international certification to access niche markets.
Ayeni also noted that through the council’s regional and state offices initiated the process of mainstreaming informal border trade.
She said that the effort would increase foreign exchange earnings and help to capture export data for the country.
“Interactive sessions were held with several trade associations operating within some borders”.
According to her, at the end of the exercise, no fewer than 1,116 operators in the informal sector were trained in formalising export trade.
“We will build on this,” she assured. (NAN)
Economy
Ecobank Promotes Savings Culture, Rewards N42m to Customers
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Ecobank Nigeria has reaffirmed its commitment to financial inclusion and savings culture by awarding N42 million to its customers.
Ms Adeola Ogunyemi, Head of Consumer Banking, Ecobank Nigeria, made this known at the grand finale of the bank’s Super Rewards ‘Millionaire Geng Promo’ on Friday in Lagos.
She said that the initiative is part of bank’s strategy to deepen financial inclusion for all classes of Nigerians and to reward customers’ loyalty.
“It is not just about winning cash prizes; it is about financial security and long-term stability,” Ogunyemi said.
Ogunyemi also noted the increasing awareness of savings amid economic challenges.
“With the fluctuating value of the Naira, we have encouraged our customers to save consistently, whether in Naira or foreign currency.
“This has led to a steady rise in deposits across the banking sector,” she said.
Ogunyemi advised Nigerians, especially the bank’s customers to ensure financial discipline.
“Many people don’t realise the importance of saving until they face emergencies. No matter how much you earn, it will never be enough if you don’t discipline yourself.
“This initiative is about showing our customers that every amount saved adds up over time,” she said.
Ogunyemi spoke further on the broader economic impact of savings, noting that it fuels long-term investments.
“A country’s economic growth is influenced by how much its citizens save. Over the last six months, we have seen tremendous growth in savings, with customers becoming more conscious of the need to save.
“Month after month, deposits have increased, which is very encouraging,” she added.
She further emphasised that savings, beyond just winning rewards, provide financial security.
Ogunyemi also addressed the evolving savings culture in Nigeria, particularly amid economic challenges.
“With the impact of foreign currency devaluation, we’ve advised customers to save in both Naira and foreign currencies.
“Across the banking industry and within Ecobank, savings deposits have consistently grown.
“We have been actively educating customers through awareness programmes, newsletters, and campaigns like Super Savers and Millionaire Geng,” she said.
She emphasised the transparency of the programme, highlighting that all draws were conducted under regulatory supervision and broadcast live.
Also, Mr Victor Yalokwu, Head of Consumer Segments and Products of the bank, emphasised the importance of consistent saving habits, highlighting how it played a crucial role in determining winners.
“It is important to note that what gave them the opportunity to win was their commitment to saving.
“We set clear criteria: customers needed to save for at least 30 days to qualify for the monthly draw, 90 days for the quarterly draw, and six months for the grand finale.
“The individuals who won two million Naira each did so because they saved consistently for six months,” Yalokwu noted.
He further encouraged customers to develop a culture of disciplined savings, noting that beyond the rewards, financial security and stability were key benefits of the habit.
“I advise our winners to spend wisely and continue saving. The goal is to build financial resilience while enjoying the benefits of the promo,” he added.
Under the reward initiative, the bank customers won a total of N42 million at the end of the grand finale.
A total of 520 customers won N50,000 monthly for six months while 16 won N500,000, quarterly, in September and December.
Similarly, four customers; Akpofabe Akeman, Odo Chinedu, Saibu Sakiru and Eyo Ekpenyong won two million Naira each from FCT & North, Lagos, Mid-West/ South-West and South-South/ South-East, respectively. (NAN)