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10 Banks Lose N187.81bn In Share Value 

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Ten of Nigeria’s commercial banks posted stock losses in the first three months of this year as N187.81bn was wiped off their combined market capitalisation, an analysis of data from the Nigerian Exchange Limited has shown.
The affected banks are United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc, Ecobank Transnational Incorporated, Union Bank of Nigeria Plc, Fidelity Bank Plc, Wema Bank Plc, FCMB Group Plc and Jaiz Bank.
Four banks, namely FBN Holdings Plc, Guaranty Trust Bank Plc, Stanbic IBTC Holding Plc, and Unity Bank Plc saw their market value increase in Q1.
The shares of UBA, Zenith and Access fell by 18.49 per cent, 9.07 per cent and 4.98 per cent respectively in the first quarter of 2021, erasing from each bank’s market value N54.71bn, N70.64bn and N16bn.
Zenith saw its market value fall to N707.99bn on March 31 from N778.63bn at the end of last year as its share price dropped to N22.55 from N24.80.
The market value of Access Bank dipped to N284.36bn at the end of March from N300.36bn as of December 31 as its share price fell to N8 from N8.45, while UBA’s market value dropped to N241.11bn on March 31 from the N295.82bn at which it closed in December.
The market capitalisation of Union Bank dropped by N1.45bn to N154.34bn as its share price fell to N5.30 from N5.35, while Ecobank Transnational Incorpo-rated’s market value declined by N17.42bn to N92.67bn as its share price fell to N5.05 from N6.00.
Sterling Bank Plc saw its share price dip to N1.70 from N2.04, making its market capitalisation reduce by N9.79bn to N48.94bn, while Fidelity Bank Plc’s market capitalisation fell by N3.77bn to N69.25bn as its share price fell to N2.39 from N2.52.
The market value of Wema Bank Plc declined by N4.63bn to N21.99bn as its share price fell to N0.57 from N0.69, while FCMB Group Plc saw its market value reduced by N8.51bn to N57.43bn as its share price dropped to N2.90 from N3.33.
The market value of Jaiz Bank Plc dropped by N890m to N18.56bn as its share price declined to N0.63 from N0.66, while GTB, the country’s biggest bank by market cap, boosted its market value by N14.72bn in the three-month period to N966.81bn. Its share price closed at N32.85 on Mar. 31, up from N32.35 in December.

Stanbic IBTC saw its market value increase to N569.18bn from N489.22bn as its share price rose to N51.25 from N44.05, while FBN Holdings, the holding company of First Bank of Nigeria Limited, boosted its market value to N260.24bn from N256.65bn as its share price rose to N7.25 from N7.15.
Unity Bank Plc’s market value rose by N1.29bn to N8.77bn as its share price increased to N0.75 from N0.64.

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Association Woos Govt, Coys On  Boat Operators  Employments

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June 12, 2026

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The leadership of Bonny Maritime Boat Association has called on Rivers state Government and oil companies operating in the state to provide sustainable employment to unemployed boat Operators.
The Association also want the government, companies and other relevant employers of labour to provide trainings for boat Operators to enhance their skills
Safety Officer of the Association, Comrade Kingdom Kingsley made this known in  a  telephone interview with  The Tide.
He noted that most of the boat Operators and owners plying Bonny route lacks jobs due to the fleets of boats introduced by Bonny Road Transport that had taken over the passengers to the Island
He noted that passengers are no longer patronizing boats owned by the Association, thereby rendering the operators redundant
“Most of our operators can not afford to feed their families due to no jobs, we don’t want to indulge in crime, government should fix our members with  sustainable jobs to take care of their immediate needs”
He called on oil companies operating in the state to engage their skilled boat Operators in their companies to reduce the sufferings faced by the Association.
The Safety Officer called on the state government  to made funds available to unemployed youths in the state to start up business than roam the streets.
He noted that provision of funds to youths would reduce crime rates and reposition their mindsets for a better life
“The  youths of Rivers state are suffering, have no job to feed their families, thereby indulging in criminality daily”
“The youths need empowerment,  jobs,  recreational facilities and better things of life as citizens of this Nation”, Kingsley said.
CHINEDU WOSU
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FG Approves $1 Bn AFCFTA Credit Facility For Nigerian Exporters

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June 12, 2026

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The Federal Government has approved a whooping $1bn credit facility to support Nigerian exporters and small scale businesses to take advantage of the African Continental Free Trade Area (AfCFTA) in order to boost production, competitiveness and intra-African trade.
The $1bn AfCFTA Adjustment Fund Credit Facility is also expected to address some of the financing gap being faced by Nigerian exporters and enhance the competitiveness of African businesses within the continental market.
The Minister of Industry, Trade and Investment, Jumoke Oduwole, disclosed this  during the second quarter 2026 meeting of the AfCFTA Central Coordination Committee held in Abuja.
According to a statement issued by the ministry’s Head of Press and Public Relations, Obilor-Duru Okechi, Oduwole said the financing facility represented a major opportunity for Nigerian businesses seeking to expand operations, modernise production processes and increase exports to African markets.
The statement partly read, “?The Federal Government has reaffirmed its commitment to accelerating Nigeria’s export-led growth agenda under the African Continental Free Trade Area, unveiling opportunities for businesses to access a US$1 billion AfCFTA Adjustment Fund Credit Facility aimed at boosting production, competitiveness, and intra-African trade.”
She noted that despite the progress Nigeria had made in implementing the continental trade agreement, many local businesses continued to face obstacles that limited their ability to take advantage of the single African market.
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“Many businesses still face challenges relating to export documentation, certification, standards compliance and market access,” the minister said.
She explained that the Federal Government was addressing these bottlenecks through enhanced trade facilitation measures, simplified AfCFTA guidance tools, stakeholder engagement programmes and stronger collaboration with institutions such as the Nigeria Customs Service and the Nigerian Export Promotion Council.
Oduwole stressed the need to strengthen Nigeria’s legal and regulatory framework by domesticating key AfCFTA protocols, particularly the Digital Trade Protocol, to position the country as a major player in Africa’s growing digital economy.
The minister also highlighted some of the gains recorded in Nigeria’s AfCFTA implementation efforts.
According to her, the expansion of Nigeria’s Air Cargo Corridor Initiative to Rwanda, increased collaboration with development partners and private sector players, as well as sustained engagement with state governments, were helping to deepen awareness and participation in the continental market.
In her welcome address and first-quarter update, the National Coordinator and Chief Executive Officer of the Nigeria AfCFTA Coordination Office, Mrs Patience Okala, provided details of the financing initiative.
Okala said the $1bn AfCFTA Adjustment Fund Credit Facility was targeted at large African businesses with a minimum financing capacity of $10m.
She revealed that the National AfCFTA Coordination Office was working closely with fund managers to facilitate access for eligible Nigerian companies and had begun assembling a pilot group of businesses to ensure that Nigeria maximised the opportunities provided by the facility.
Nkpemenyie Mcdominic, Lagos
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NIWA Harps On  Avoidance Of Leaking Boats

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June 12, 2026

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The National Inland Waterways Authority (NIWA) has advised Nigerians against boarding boats that require constant bailing of water in the interest of their safety.
 NIWA Area Manager for Cross River and Ebonyi, Mr Stanley Onuoha gave this warning in an interview with Newsmen in Calabar.
Onuoha who spoke on waterway
safety, said that passengers should take responsibility for their safety by inspecting boats before embarking on any journey.
According to him, repeated scooping of water from a boat is a clear indication that the vessel may be leaking.
“If you are entering a boat and see people using a bailer to remove water, it is the first signal that the boat is leaking,” he said.
He urged passengers to check the integrity of boats, including seating arrangements and other visible safety features.
The Manager restated the importance of using safety jackets, saying that damaged jackets may fail during emergencies.
He further said that passengers should ensure that safety jackets were appropriate for their body sizes in order to guarantee effective flotation.
 Onuoha reiterated the need for passengers to fill manifests before departure to aid accountability during emergencies.
The NIWA official further advised travellers to monitor weather conditions and avoid boarding boats when the weather is unfavourable.
According to him, poor weather conditions can trigger strong tidal waves capable of affecting small boats commonly used on inland waterways.
He said that waterway journeys should be embarked upon between 6.00a.m and 6.00p.m for clearer visibility.
Onuoha said  the Authority had continued to sensitise riverine communities to the need for safety precautions during waterway journeys.
He stated that sustained awareness campaigns and enforcement measures had contributed to safety waterway safety in Cross River.
CHINEDU WOSU
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