NGX flat; MTN and Seplat drive headlines as GTCO jumps 10%
The NGX ASI closed at 1,806.78, up 0.0094% on June 22, after a weekly gain of 0.09% as of June 19 despite 32 decliners, according to market data and an analyst report. Banks set the tone, with GTCO surging 10% on June 22, while ARADEL fell 4.6% over 5 days despite Brent at $77.54 and DANGSUGAR dropped 8.8% over 5 days, according to analyst reports. On the corporate front, MTN Nigeria appointed Bukola Ajayi as CIO on June 22, while CFO Modupe Kadri bought 1,589,041 shares worth N1.25 billion over 3 days, TechNext.ng reported. MTN Nigeria also partnered with First WATT Renewable to deploy 34 MWp of solar and 40 MWh of battery storage across critical facilities, according to SolarQuarter and FSX Business, while Seplat Energy appointed Elumelu chairman and Okon CEO, THISDAYLIVE reported. Separately, Africa’s largest bank is backing the Dangote Refinery IPO, Techeconomy reported.
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NGX ASI slips 0.45% as Stanbic flags possible H1 filing delay
The NGX ASI closed at 1,887.25, down 0.4536% on Aug. 14, after a weekly decline of 0.45% despite 2.37 billion insurance shares traded, according to analyst notes. Stanbic IBTC alerted the NGX to a possible delay in filing its H1 results, Punch Newspapers reported, while also upgrading its corporate transaction platform to Nucleus Software’s FinnAxia 9.0 on Aug. 14, according to FinTech Futures. Seplat Energy issued a regulatory notice on its Q2 2026 exchange rate and a special dividend on Aug. 13, according to TradingView. Stock moves stayed highly selective this week, with John Holt up 9.9% on Aug. 13 and Intels Nigeria up 10% on Aug. 12, while DANGSUGAR fell 9.1% over 5 days, according to analyst notes.
Nigerian Exchange — ASI Slips 0.45% as Insurers Trade 2.37bn Shares Despite Price Pressure
The NGX ASI fell 0.45% in the week to August 14, 2026, with insurance names dominating turnover. FTGINSURE traded 2.37 billion shares while dropping 9.3%, as Trans-Nationwide Express and Guinea Insurance posted standout gains outside recently over-covered stocks.
MTN leads NGX headlines as ASI rises 0.86% to 1,895.85
The NGX ASI rose 0.8613% to 1,895.85 on Aug. 13, despite 33 decliners, while John Holt jumped 9.9% after its Q2 results, according to analyst notes. MTN Nigeria dominated headlines with N1.62 trillion to N1.63 trillion in capex and N3 trillion in H1 revenue, while its fintech revenue fell 7% after lending rules, according to APAnews, Punch and The Guardian Nigeria. The group is still awaiting CBN approval to complete the sale of a 60% stake in its fintech unit, Business Post Nigeria reported, keeping the transaction conditional. Elsewhere, BUA Cement wants to lift capacity with a 3 mmtpa greenfield plant and a brownfield project, according to LEADERSHIP, while the JSE is pursuing a secondary listing for Dangote Refinery’s $5 billion IPO, Financial Nigeria reported.