Business
NGX Index Down By 0.01% As Investors Lose N2bn
The nation’s bourse extended its losing streak to four consecutive trading sessions on Thursday with the All-Share Index contracting further by 0.01 per cent on sustained sell-offs of banking stocks.
The performance was buoyed by investors’ profit-taking sentiments in all the major sectors except oil & gas stocks.
Specifically, the All-Share Index shed 3.19 points or 0.01 per cent to close at 39,201.33 in contrast with 39,204.52 achieved on Wednesday.
Consequently, month-to-date and year-to-date losses stood at 0.1 per cent and 2.7 per cent, respectively.
Similarly, the market capitalization inched lower by N2 billion or 0.01 per cent to close at N20.424 trillion from N20.426 trillion posted on Wednesday.
The market negative performance was driven by price depreciation in large and medium capitalized stocks which are; Honeywell Flour Mill, Zenith Bank, Stanbic IBTC Holdings, Livestock Feeds, and United Capital.
The market breadth closed negative with 21 losers in contrast with nine gainers.
Cornerstone Insurance led the losers’ chart in percentage terms by 7.69 per cent to close at 48k per share.
AIICO Insurance followed with 6.86 per cent to close at 95k, while Learn Africa shed 5.56 per cent to close at N1.36 per share.
Livestock Feeds lost 5.45 per cent to close at N2.08, while Honeywell Flour Mills declined by 5.13 per cent to close at N3.88 per share.
On the other hand, Chams drove the gainers’ chart in percentage terms by 4.76 per cent to close at 22k per share.
United Bank for Africa followed with a gain of 4.67 per cent to close at N7.85, while Cutix appreciated by 4.60 per cent to close at N5 per share.
Oando went up by 3.08 per cent to close at N4.68, while Nigerian Breweries appreciated by 1.25 per cent to close at N48.65 per share.
Also, the total volume traded fell by 1.0 per cent to 350.53 million shares worth N3.35 billion traded in 3,523 deals.
This was against a turnover of 354.06 million shares valued at N3.20 billion shares transacted in 4,095 deals on Wednesday.
Transactions in the shares of FBN Holdings topped the activity chart with 97.73 million shares worth N729.64 million.
Wema Bank followed with 74.856 million shares valued at N58.48 million, while Access Bank traded 47.75 million shares valued at N451.17 million.
Livestock Feeds sold 12.85 million shares worth N26.67 million, while Nigerian Breweries transacted 10.003 million shares valued at N486.82 million.
Business
ISAT Group Rebrands, Partners Afro Mobile to Launch High-Speed Broadband Services in Nigeria by Q3 2026
New identity signals bold expansion as landmark investment accelerates affordable, high-speed connectivity for millions of Nigerians.
Nigeria’s digital economy is set for a major boost as ISAT Group unveiled a new corporate identity and announced a strategic alliance with Afro Mobile, ahead of its Q3 2026 commercial launch.
The partnership is underpinned by Afro Mobile’s acquisition of a 40% equity stake in ISAT Group and a US$3 billion financing package structured by Equiline Finance, positioning the alliance among the largest indigenous broadband investment initiatives in Nigeria’s telecommunications sector.
The rebranding marks ISAT Group’s evolution into a next-generation digital connectivity company focused on broadband, satellite communications and enterprise solutions. Together, the partners will expand affordable, high-speed internet access to homes, businesses, government institutions and underserved communities nationwide.
ISAT Group Chief Executive Officer, Dr. Adeyanju Binuyo, described the development as a transformational milestone.
“Our vision extends beyond connectivity. We are building the digital infrastructure that will power businesses, connect communities, stimulate innovation and accelerate Nigeria’s digital economy. This partnership demonstrates our commitment to making world-class broadband accessible to every Nigerian.”
Group Chairman, Mr. Ganiyou AFOLABI Moustapha, said the alliance reflects ISAT Group’s long-term confidence in Nigeria’s future.
“This investment is a strong vote of confidence in Nigeria’s digital economy. Together with Afro Mobile, we are building a resilient indigenous broadband platform that will create jobs, drive innovation and support inclusive national development.”
With operations commencing in Q3 2026, ISAT Group and Afro Mobile are poised to emerge as a leading indigenous broadband provider, delivering next-generation connectivity that will help bridge Nigeria’s digital divide and power the country’s next phase of economic growth.
Business
UBA Foundation Drives Environmental Awareness with Tree Planting in Lagos Schools for WED 2026
UBA Foundation tree planting initiative marks World Environment Day 2026 with sustainability drive across Lagos schools to promote climate action
-
Politics2 years ago
13 Ondo Assembly Members Disown Endorsement of Aiyedatiwa
-
Politics2 years ago
APC Group, Ondo Govt, Quarrel Over Money for Endorsement
-
Trending News5 years agoStop unsavoury, inciting statements – DSS warns
-
Others4 years agoAdron Homes Celebrates 10 Years Of Housing Excellence
-
Humanity4 years agoPresident Buhari Commiserates With Ambassador Maureen Tamuno Over The Loss Of Her Father
-
Others7 years agoEX- CUSTOMS BOSS, IBRAHIM MERA’S DWINDLING FAME
-
Business2 years agoBigi Carbonated Soft Drinks Treats 40 Consumers to an Epic Easter Movie Hangout
-
Business2 years agoWema Bank Shines at Global SME Finance Forum Conference Awards 2024 …Awarded: • SME Financier of the Year (Africa) • Platinum Award for Best Financier for Women Entrepreneurs (Africa)