NGX slips 0.61% ahead of T+1 settlement shift on June 1
The NGX ASI fell 0.61% to 1,765.43 on May 27, after a 2.21% rise on May 25, according to African Capital Markets News and analyst notes. The market is also heading into Nigeria's shift to T+1 settlement from June 1, while Dangote Sugar's rights were activated on May 26 and Sunu Assurances Nigeria extended its rights issue, according to market bulletins. On the corporate side, MTN Nigeria highlighted N878.7 billion in tax remittances, while GCR affirmed its AAA rating with a stable outlook, according to Business News Nigeria and MarketForces Africa. Elsewhere, BUA Cement approved a N338.6 billion dividend after profit rose to N356 billion, and Lafarge Africa proposed a N96.64 billion payout, Arise News and THISDAYLIVE reported.
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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.