MTN Nigeria to sell up to 60% of MoMo PSB as NGX ASI stays flat
The NGX ASI closed at 1,597.34, down 0.0182% on April 29, with corporate news led by MTN Nigeria. MTN Nigeria will sell 60% of MoMo PSB and Y’ello Digital Financial Services to MTN Group in a deal valued between N95.5 billion and N152 billion, according to Business News Nigeria, Channels Television and Brand Communicator, after a N62 billion impairment charge. BUA Cement approved a N4.5 billion reward for distributors nationwide, Arise News reported, while analyst notes showed the stock up 19.9% over 5 days. Transcorp Power secured shareholder approval for a N4 final dividend at its AGM, according to Nairametrics.
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Nigerian Exchange — NGX ASI up 0.95% in week to April 30 as mid-caps rally despite 40 decliners
The NGX ASI rose 0.95% in the week through Thursday, April 30, 2026, with 46 gainers against 40 losers. Mid-caps led the advance, while Brent above $108, a steady naira at 1,374.3 per dollar and strong earnings helped support turnover.
NGX rises 1.5% as MTN earnings jump and Seplat tops N10,000
The NGX ASI rose 1.5025% to 1,621.34 on April 30, despite a 7.1% drop in oil, with telecoms leading the move, according to analyst notes. MTN Nigeria reported Q1 2026 profit of N355.5 billion, up 165%, while free cash flow climbed 56% to N326.5 billion and service revenue rose 42%, according to Business News Nigeria, ITWeb Africa and TechAfrica News. The company also warned fuel costs could cut profit by $102 million, according to TechCabal and Punch Newspapers. Seplat Energy posted Q1 post-tax profit of N52.5 billion, revenue of $840.7 million and gross profit of $370.5 million, while announcing interim and special dividends in dollars, according to Nairametrics, Channels Television and TipRanks. Seplat shares also crossed the N10,000 mark on the NGX for the first time, THISDAYLIVE reported.
Seplat Energy Makes History as First to Cross N10,000 Mark on NGX
Seplat Energy Makes History as First to Cross N10,000 Mark on NGX THISDAYLIVE