NGX ASI rises 1.25% as Seplat and banks get support from S&P
The NGX ASI rose 1.245% to 1,711.75 on May 21, extending a rebound that started after a 4-session losing streak, after BUA Cement and large-cap banks helped snap that run on May 19, according to Nairametrics. S&P upgraded ratings on May 21 for 7 institutions, including Access, GTB, Stanbic IBTC, Standard Chartered, UBA and Zenith, according to THISDAYLIVE. Seplat Energy expanded its asset base and projects $1 billion in dividends as part of its growth drive, according to LEADERSHIP Newspapers, while the stock climbed 11% in 5 days, according to analyst notes. Tony Elumelu is set for a Seplat board role after a landmark $500 million energy deal, TTYBrand Africa reports, while Eterna was active after the May 20 listing of its rights issue, according to the market bulletin and analyst reports.
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NGX ASI falls 0.89% as MTN highlights N878.7 billion tax remittance
The NGX ASI fell 0.89% to 1,773.4 on June 9, while Abbey Mortgage Bank jumped 9.8% after INTENEGINS gained 9.9% a day earlier, according to analyst notes. MTN Nigeria said it remitted N878.7 billion in taxes and levies to the federal government, according to The Nation and The Guardian Nigeria News. The telecom group also said it plans to open its data billing systems to public scrutiny and is exploring data-tracking tools, according to Premium Times Nigeria and LEADERSHIP Newspapers. In corporate news, Stanbic IBTC hired former Hydrogen CEO to lead Zest Payments, according to Condia, while Africa Oil+Gas Report said Tony Elumelu could be in line to become Seplat chairman.
Nigerian Exchange — Abbey Mortgage Bank Jumps 9.8% Even as NGX ASI Falls 0.89%
Abbey Mortgage Bank rose 9.8% to 11.25 NGN on Tuesday, June 9, 2026, defying a 0.89% drop in the NGX ASI. The move puts Nigeria’s mortgage segment back in focus as investors rotate into niche financials tied to structural housing demand.
Nigerian Exchange — NGX ASI Falls 1.85% Despite 35 Gainers as Transcorp and PZ Cushion the Drop
The NGX ASI fell 1.85% this week to 1,809.47, yet market breadth stayed positive at 35 advancers against 13 decliners. Rotation into defensive and mid-cap names, including Transcorp and PZ Cussons Nigeria, partly offset weakness in a few heavyweight banks and International Breweries.