NGX ASI rises 1.96% as BUA Cement, MTN Nigeria and Seplat drive flow
The NGX ASI closed up 1.9582% at 1,745.27 on May 22, according to market data. BUA Cement led the corporate flow with 2025 revenue of N1.2 trillion, a N10 per share dividend and capacity expanded to 23 million tonnes, according to The Nation Newspaper, Premium Times Nigeria and LEADERSHIP Newspapers. MTN Nigeria said it remitted N878.7 billion in taxes and levies as profit swung from a N399 billion loss to a N1.11 trillion gain, theeagleonline.com.ng reported. Seplat Energy also reaffirmed long-term growth and shareholder returns at its 13th AGM, while an analyst note dated May 21 said the stock had risen 11% in 5 days with oil at $107.38 a barrel.
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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.