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  2026 02 24 Recap || Nigerian Stocks Drop 90bps as BUAFOODS, MTNN Slide; ... https://youtube.com/shorts/lLbAmMOHNv8?si=-fFLBuAbFqBqqtvm via @YouTube

  Nigerian Stock Market Declines as ASI Drops 0.90% Amid Broad Selloffs The Nigerian equities market closed lower as the All‑Share Index (ASI) fell by 0.90% to 194,484.61 points , reflecting a sharp downturn across several major sectors. Market capitalization declined by N1.1 trillion , ending the session at N124.8 trillion . The decline highlights renewed investor caution amid ongoing macroeconomic pressures. Equities Market Weakens as Large‑Cap Stocks Decline The negative performance was driven by significant losses in key large‑cap stocks, including BUA Foods (-9.99%) , MTN Nigeria (-2.56%) , Stanbic IBTC (-5.35%) , and Nigerian Breweries (-1.03%) . Market breadth weakened to 0.65x , with 40 losers outpacing 26 gainers , underscoring broad selling pressure. Despite the bearish sentiment, Jaiz Bank recorded a full‑day gain of 10% , emerging as the top performer. On the downside, DAAR Communications and Tantalizer both declined by 10% , leading the laggards. Trading acti...

  Ellah Lakes Plc Announces Closure of Public Offer and Provides Update on ARPN Acquisition Ellah Lakes Plc has formally announced the closure of its Public Offer for Subscription, marking an important update for investors and stakeholders following the company’s recent capital‑raising efforts. The agribusiness company, which has been pursuing strategic expansion initiatives, provided clarity on the outcome of the offer as well as progress on its proposed acquisition of Agro-Allied Resources & Processing Nigeria Limited (ARPN). Public Offer Closes Without Allotment The Public Offer, which opened on November 10, 2025 , and closed on December 19, 2025 , sought to raise up to ₦235 billion through the issuance of 18.8 billion ordinary shares at ₦12.50 per share . According to the company, the level of subscription did not meet the minimum threshold required for allotment . Because the offer fell short of the regulatory minimum, no shares will be allotted , and all subscripti...

  Airtel Africa plc Buys Back 30,000 Shares at Up to 360.60p Under $100m Programme Published: 19 February 2026 | London & Lagos Airtel Africa plc has announced the purchase of 30,000 ordinary shares as part of its ongoing $100 million share buy-back program , reinforcing its commitment to enhancing shareholder value. The transaction, executed on 18 February 2026 , was carried out through Barclays Capital Securities Limited under authority previously granted by shareholders. Key Details of the Share Buy-Back Here’s a breakdown of the latest transaction: Total shares purchased: 30,000 Lowest price paid: 354.80p Highest price paid: 360.60p Volume-weighted average price (VWAP): 358.55p Date of purchase: 18 February 2026 The repurchased shares will be held in treasury , meaning they remain issued but are not currently in circulation. Updated Share Capital and Voting Rights Following the buy-back: Total ordinary shares in issue: 3,654,881,028 Treasury shares: 8,968,490 Total ...

  UPDC Plc Secures NGX RegCo Approval for Two‑Year Free‑Float Compliance Extension UPDC Plc has announced that NGX Regulation Limited (NGX RegCo) has approved the company’s request for an extension of time to meet the Nigerian Exchange’s free‑float requirements. The approval grants UPDC a two‑year window, covering 2026 to 2028 , to fully resolve its free‑float deficiency and return to full post‑listing compliance. What the Extension Means The Nigerian Exchange mandates that companies listed on its Main Board maintain: 20% issued and fully paid share capital as free float , or ₦20 billion free‑float market capitalization The extension allows UPDC additional time to meet this threshold while continuing normal operations and maintaining transparency with shareholders. Regulatory Framework The approval aligns with Rule 3.1.4 of the Exchange’s Rules Governing Free Float Requirements. This rule empowers the Exchange to suspend trading in a company’s securities if it fails to ac...

  Block Trades Major Block Trades Hit the NGX: SEPLAT, DANGCEM, GTCO, PRESCO, ACCESSCORP Lead High‑Value Deals The Nigerian Exchange (NGX) witnessed a surge in high‑value block trades , signaling renewed interest from institutional investors and large‑scale market participants. These transactions, often executed off‑market or through negotiated deals, provide insight into liquidity flows, investor sentiment, and sector‑level positioning. Below is a breakdown of the most significant block trades recorded, including total volumes, price levels, and transaction values. SEPLAT Energy: ₦1.41 Billion in High‑Value Trades SEPLAT dominated the energy sector’s block‑trade activity with multiple deals totaling 178,810 shares . The trades were executed between ₦7,900 and ₦8,100 per share , bringing the total transaction value to ₦1.41 billion . This level of activity highlights continued institutional interest in the upstream oil & gas giant, especially amid rising crude prices an...

  Naira Cools After Ten‑Day Gains as Dollar Demand Rises The Nigerian naira eased on Thursday after a strong ten‑day rally, as renewed demand for the U.S. dollar pressured the local currency across both the official and parallel foreign‑exchange markets. Naira Slips in Official Market Fresh data from the Central Bank of Nigeria (CBN) showed that the naira weakened by ₦7.78 to close at ₦1,366.06 per dollar , representing a 0.6% decline from ₦1,358.28 recorded in the previous session. The pullback marks the first notable slowdown after a sustained stretch of appreciation driven by improved FX inflows and tighter monetary conditions. Parallel Market Also Softens In the informal market, the naira also lost ground. Market operators reported trades at ₦1,452 per dollar , slightly weaker than ₦1,450 recorded the previous day. The mild depreciation reflects persistent retail demand for dollars despite recent improvements in liquidity. External Reserves Continue to Strengthen In...