Business
NSE market indices dip by 0.12%
Equity transactions on the Nigerian Stock Exchange (NSE) closed for the week last Friday on a negative note, as major blue chips continue to drop price.
The Tide’s sourcereports that the market capitalisation shed N15 billion or 0.12 per cent to close lower at N11.822 trillion against N11.837 trillion posted last Thursday.
Also, the All-Share Index, which opened at 32,423.57 lost 40.42 points or 0.12 per cent to close lower at 32,383.15 amid price losses.
An analysis of price movement indicated that Zenith Bank led the losers’ table with a loss 85k to close at N21.55 per share.
GTBank trailed with 35k to close at N36.4 per share.
FBN Holdings dropped 2k to close at N8.9, while Dangote Cement and UBN depreciated by 1k each to close at N200 and N5 per share respectively.
Conversely, Nigerian Breweries led the gainers’ table during the day, gaining N3.2 to close at N89.7 per share.
Guinness came second with a gain of 95k to close at N79 per share.
UACN appreciated by 8k to close at N11.5, while Cadbury and AirServices lost 4k each to close at N9.56 and N6 per share respectively.
Conversely, the volume of shares increased by 10.11 per cent with an exchange of 166.65 million shares worth N1.49 billion transacted by investors in 2,431 deals.
This was in contrast with 151.35 million shares worth N1.51 billion, exchanged by investors in 2,356 deals on Thursday.
The Tide’s source reports that FCMB emerged the investor’s delight, exchanging 42.09 million shares valued N72.28 million.
Access Bank traded 32.55 million shares valued N262.04 million, while Zenith Bank followed with an account of 12.35 million shares worth N275.99 million.
Fidelity sold 11.37 million shares valued N20.69 million, while GTBank trailed with an account of 10.53 million shares worth N384.33 million.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.