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NGX Trading Continues Amid Strike, Investors Lose N103bn

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NGX Trading Continues Amid Strike, Investors Lose N103bn....KINDLY READ THE FULL STORY HERE▶

The equity market on the Nigerian Exchange (NGX) began the week on a downward trend, halting the previous session’s gains as investors lost N103 billion. This decline was driven by sell-offs in Tier-one banking stocks and cautious trading behaviors……..CONTINUE READING

 

 

 

Key stocks such as FBN Holdings, United Bank For Africa (UBA), Access Corporation, Fidelity Bank, Transnational Corporation, Nigerian Breweries, WAPCO, and ETranzact experienced declines, contributing to the market’s weak performance.

As a result, the market capitalization, which started at N56.172 trillion, dropped by N103 billion or 0.18 percent, closing at N56.069 trillion. The All-Share Index also fell by 0.18 percent or 112 points, settling at 99,118.86, down from 99,300.38 recorded on Friday. Consequently, the Year-To-Date (YTD) return decreased to 32.56 percent.

Despite the ongoing indefinite strike by workers under the Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC), the losses recorded on the Exchange were unrelated to these industrial actions. Haruna Kebira, a stockbroker with Global View Capital Ltd., clarified that trading on the Exchange is typically unaffected by national strikes, as the NGX does not belong to any workers’ union. Therefore, labour strikes do not interrupt trading activities on the Exchange.

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Kebira noted that the first week of a new month often sees a slowdown in activities, which might lead to losses like those experienced. He attributed the bullish trend observed last week to month-end effect activities and expressed optimism that the market would pick up positively by mid-week. He added that June is usually a positive month for the market, as investors reinvest dividends received, which should help the market rebound.

Despite the downturn, the market breadth closed positively with 23 gainers and 17 losers. Cornerstone Insurance and Deap Capital Management and Trust Plc led the gainers, each rising by 10 percent to close at N2.09 and 44k per share, respectively. Oando followed with a 9.75 percent increase to close at N12.95, while Veritas Kapital Assurance rose by 8.47 percent to 64k and RTBriscoe gained 8.33 percent to close at 52k per share.

Conversely, ETranzact led the losers, dropping 9.82 percent to close at N5.05. Unity Bank closely followed with a 9.80 percent decline to N1.38 per share. Jaiz Bank fell by 9.65 percent to N2.06, McNichols Plc shed 9.09 percent to close at N1.00, and Japaul Gold lost 4.78 percent to finish at N1.99 per share.

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The analysis of market activities showed a decrease in trade turnover compared to the previous session, with transaction value down by 38.92 percent. A total of 349.59 million shares valued at N5.24 billion were exchanged in 8,082 deals, compared to 434 million shares valued at N8.58 billion exchanged in 8,525 deals in the previous session.

Veritas Kapital led the activity chart in volume with 57.95 million shares worth N35.94 million. Guaranty Trust Holding Company (GTCO) led in value with 47.63 million shares valued at N47.63 billion. Access Corporation traded 46.32 million shares worth N796.32 million, AIICO Insurance transacted 30.71 million shares worth N30.79 million, and Regency Alliance Insurance sold 14.55 million shares valued at N5.64 million.

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“Peter Obi Supporters Clash With Atiku, Demand ADC South Ticket And INEC Chair’s Exit”.

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Supporters of the 2023 presidential candidate of the Labour Party, Peter Obi, have criticised former Vice President Atiku Abubakar over his recent remarks on Nigeria’s presidency and are calling on the African Democratic Congress (ADC) to zone its 2027 presidential ticket to the South.....KINDLY READ THE FULL STORY HERE▶

The group, known as the PETOOPO movement, made the demand during a press briefing at the Nigeria Union of Journalists Secretariat in Jos, Plateau State.

Speaking at the event, the National Convener, Magnus Oraka, said the group was issuing what he described as two “urgent and non-negotiable advisories” on political fairness and electoral credibility.

He stated that the briefing was aimed at addressing concerns involving both the ADC leadership and the Independent National Electoral Commission (INEC).

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Oraka urged the ADC to ensure its presidential candidate emerges from the Southern region ahead of the 2027 election.

According to him, fielding a Northern candidate could weaken opposition unity and affect the party’s chances at the polls.

He argued that zoning the ticket to the South would promote balance and strengthen political stability ahead of the election.

The group also dismissed Atiku’s recent comments suggesting imbalance in Nigeria’s rotational presidency, insisting that historical records support their position that the South has a stronger claim to the office in the current cycle.

Oraka further criticised Atiku’s repeated presidential bids, describing them as a distraction to national unity and urging him to step aside for Southern aspirants.

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In addition, the PETOOPO movement called for the resignation of the Chairman of INEC, Joash Amupitan, accusing him of partisanship and interference in internal party matters.

Oraka alleged that recent actions by the electoral body had raised concerns about its neutrality and ability to conduct fair elections.

The group warned that failure to address their demands could escalate political tensions, while insisting that fairness, zoning, and electoral credibility remain central to Nigeria’s democratic process ahead of 2027.

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“Nasarawa Deputy Speaker Involved In Ghastly Motor Accident”

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The Deputy Speaker of the Nasarawa State House of Assembly, Rt. Hon. Muhammad Adamu Oyanki, was involved in a car accident along the Keffi–Akwanga highway on Monday.....KINDLY READ THE FULL STORY HERE▶

Reports indicate that the damaged vehicle was later moved to the Nasarawa State House of Assembly complex in Lafia.

The Speaker of the House, Rt. Hon. Dr. Danladi Jatau, alongside other lawmakers, inspected the wrecked vehicle at the Assembly premises on the same day.

Describing the incident as unfortunate, Jatau expressed gratitude to God that no lives were lost.

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“We thank Almighty God for saving the life of the Deputy Speaker from the auto crash. We are grateful that he is alive and safe,” he said.

According to reports, the Deputy Speaker is currently in stable condition.

Meanwhile, political activities in Nasarawa State have continued to build up as Governor Abdullahi Sule declared Senator Aliyu Wadada as his preferred governorship candidate under the All Progressives Congress (APC) ahead of the 2027 elections.

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The governor made the announcement during a meeting with political appointees at the Government House in Lafia, signalling early alignments within the party as succession politics gains momentum.

Senator Wadada, who represents Nasarawa West in the 10th Senate, recently defected from the Social Democratic Party to the APC, a move widely seen as part of his preparation for the governorship race.

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“Tension At INEC As ADC Youths Accuse Amupitan Of Bias, Call For Immediate Exit”.

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Youths of the African Democratic Congress (ADC) staged a protest at the Independent National Electoral Commission (INEC) office in Yaba, Lagos State.....KINDLY READ THE FULL STORY HERE▶

The demonstration, which took place on Monday, called for the resignation of the INEC Chairman, Joash Amupitan.

The protesters carried placards with messages such as “ADC is not for sale,” “Amupitan is already compromised,” and “Democracy is dialogue, not monologue,” expressing their dissatisfaction with recent developments within the electoral body.

The protest was led by the party’s National Deputy Youth Leader, Adeola Olusi, under tight security presence.

Ahead of the demonstration, the party’s National Youth Leader, Balarabe Rufai, announced on that similar protests would be held in Lagos and Ogun States under the banner “Operation Occupy INEC.”

He stated that the Lagos action was scheduled to begin at 8am at Yaba College of Technology, adding that the youth wing was taking a firm but peaceful stance on the issue.

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According to him, the protesters were demanding respect for the rule of law, adherence to due process, the immediate resignation of Amupitan, and the reinstatement of the Senator David Mark-led leadership structure.

Meanwhile, the National Publicity Secretary of the ADC, Bolaji Abdullahi, has said the party has experienced a significant rise in new membership following recent actions involving the Independent National Electoral Commission (INEC).

Speaking during an interview on Channels Television on Monday, April 20, 2026, Abdullahi linked the surge in registrations to INEC’s recent decisions affecting prominent political figures.

He explained that interest in the party increased after actions involving figures such as David Mark and Rauf Aregbesola, noting that many Nigerians are now more engaged in political developments.

According to him, citizens are increasingly joining political movements as they closely follow unfolding events and seek greater participation.

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He said the situation has encouraged more political awareness, leading to a steady inflow of new members into the party.

The statement comes amid an ongoing leadership crisis within the ADC, with rival factions led by Nafiu Bala and David Mark both laying claim to the party’s structure.

The dispute, which began in July 2025 following a coalition takeover of the party, has resulted in prolonged legal battles.

Following a March 12 Court of Appeal judgment, INEC announced it would no longer recognise either faction. The Commission, through its National Commissioner for Information and Voter Education, Mohammed Haruna, also stated it would not engage with the groups pending the outcome of a Federal High Court case.

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