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Economy

Investors Traded N77bn Shares In 5 Days — Up By 2%

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NGX: Investors

Investors Traded N77bn Shares In 5 Days — Up By 2%

Investors traded N77bn shares in 5 days — up by 2%. Stock market investors traded 2.64 billion shares valued at N77 billion in 86,110 deals between May 5 and May 9.

The stock market weekly report showed that investors marginally increased the value of shares traded by 2.11 percent compared to the previous week, when 2.2 billion shares, valued at N75.4 billion, were traded in 70,329 deals.

TOP PERFORMING SECTORS

The top three performing sectors for the week are the financial services industry, the services industry, and the consumer goods industry.
According to the data, the financial services industry led the chart, as investors exchanged 1.63 billion shares valued at N45.82 billion in 37,843 deals.

The sector contributed 61.9 percent and 59.51 percent to the total equity turnover volume and value, respectively.
Also, the services industry followed with 364.65 million shares, traded in 7,760 deals, worth N2.9 billion.

In third place was the consumer goods industry, with a turnover of 190.22 million shares worth N6.77 billion in 10,595 deals.

TOP THREE EQUITIES

The data showed that Guaranty Trust Holding Company Plc, Access Holdings Plc and Tantalizer Plc are the top three equities within the reviewed period.

Measured by volume, they accounted for 839.68 million shares worth N27.73 billion in 8,898 deals, contributing 31.74 percent and 36.02 percent to the total equity turnover volume and value, respectively.

TOP FIVE GAINERS OF THE WEEK

Analysis of the data showed that Multiverse Mining and Exploration Plc’s share appreciated by N3.65 kobo, according to the bourse, and ended the week at N10 per share, compared to the opening price of N6.35 kobo.
Also, the share price of Academy Press Plc increased by N1.45 kobo from N2.87 kobo to N4.32 kobo.

In contrast to its opening price of N109.8 kobo, Beta Glass Plc’s share gained N50.85 kobo to close the week at N160.65 kobo.
The Initiates Plc’s share appreciated by 34.95 percent to N6.68 per share – up from N4.95 kobo.

Similarly, International Energy Insurance Plc closed the week at N1.82 kobo per share, up from N1.38 kobo per share — representing a gain of N0.44 kobo.

TOP FIVE DECLINERS OF THE WEEK

Further analysis shows that at the end of trading, Abbey Mortgage Bank Plc’s share depreciated by N1.3 kobo, to drop to N7 — from N8.30 kobo.

NGX In 3 Days

Investors Traded N77bn

Meyer Plc lost N1.25 kobo in its share price, which closed at N8 per share, against the opening price of N9.25 kobo.

The report also said Veritas Kapital Assurance Plc share price decreased to N0.99 kobo, after losing N0.12 kobo from the N1.11 kobo per share it started the week with.

In addition, VFD Group Plc’s price declined from N17.9 kobo to N16 kobo per share, losing N1.90 kobo.

Transcorp Power Plc also reported a loss of 9.98 percent, after the value of its share dropped to N328.5 kobo per share, from N364.9 kobo per share in five days.

Economy

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

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Lagos Assembly

Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition

Lagos assembly strongly seeks suspension of Makoko demolition. The Lagos state house of assembly has called for the suspension of demolition activities in Makoko, Oko-Agbon and Shogunro waterfront communities following protests by displaced residents and growing public concern over the exercise.

The call was announced on Tuesday by Noheem Adams, chairman of an ad hoc committee set up by Mudashiru Obasa, speaker of the house, during a stakeholders’ meeting held at the Lateef Jakande auditorium.

Adams called on all state ministries to cease demolition work and promised compensation to the affected residents.
“On behalf of the speaker and all 40 members of the house, we are directing that all demolitions in Makoko, Oko-Agbon, and Shogunro communities should stop from today until further notice,” New Telegraph quoted Adams as saying.

He called for transparency by demanding the full list of taskforce members and the criteria used for engagement, insisting that residents must be actively involved in the process.

“That the taskforce that was constituted, we want to see the list of the taskforce because we want the residents to be duly involved and to be carried along. So we want to have the schedule of those task forces and the criteria for those that we are inviting,” Adams added.

Lagos Assembly

Lagos Assembly

“To the residents of Makoko, Oko-Agbon and Shogunro communities, as your representatives, we are giving you all assurances that they will stop demolitions henceforth and there will be compensations for all those whose properties have been demolished.”

Stephen Ogundipe, member of the ad-hoc, said there is need for clear communication, adding that residents targeted for relocation or redevelopment must be informed of the government’s plans in advance.

Babatunde Olajide, special adviser to governor of Lagos on E-GIS and urban renewal, confirmed that $2 million had been earmarked since 2021 to transform Makoko into a modern, internationally compliant water city.

He said enumeration of affected properties is underway and reiterated the administration’s commitment to handling the situation with a human face, prioritizing resident safety and fair compensation.

Yusuf Sagra, baale of Makoko, described the assembly’s decision as a “word of peace,” while Orioye Ogungbure, another leader of the community, praised the “democratic responsiveness” of the government.

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Crime

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

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EFCC Probes Man

EFCC Arrests Kannywood Star, Samha Inuwa for Alleged Naira Mutilation In Viral Video

EFCC arrests Kannywood Star, Samha Inuwa for alleged naira mutilation in viral video. The Kano Zonal Directorate of the Economic and Financial Crimes Commission, EFCC,   on Tuesday, February 3, 2026  arrested a Kannywood Star, Samha Inuwa over alleged Naira mutilation.

Inuwa was arrested following a viral video circulated on social media platforms where she was seen conspicuously cleaning mucus from her nose using Naira notes.

EFCC Probes Man

EFCC

Following the release of the viral video, the Commission swung into action by tracing and subsequently arrested her to answer questions.
She is currently being held at the Commission’s detention facility while investigation is ongoing.

The suspect will be charged to court upon conclusion of investigations.

Dele Oyewale
Head,  Media & Publicity
February 3, 2026

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Economy

Access Bank Gets New Board Chair Ifeyinwa Osime

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National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Access Bank gets new board chair Ifeyinwa Osime. Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29.

Access Bank Plc has appointed Ifeyinwa Osime as chair of the board of directors, following the retirement of Paul Usoro, on January 29, according to a statement to the Nigerian Exchange Ltd. on Monday.

Ms Osime, a legal practitioner, joined Access Bank’s board in November 2019 as an independent non-executive director and had chaired its Human Resources and Sustainability Committee and the Governance, Nomination, and Remuneration Committee. This role made her contribute significantly to the bank’s corporate governance, leadership development, and sustainability initiatives.

Additionally, Ms Osime is a director at Ebudo Trust Ltd. and a partner at McPherson Legal Practitioners, where she advises on corporate and commercial matters and contributes to strategic leadership.

She is also a member of the Nigerian Bar Association, the Women Corporate Directors, Nigeria Chapter, and the Chartered Institute of Directors, Nigeria, where she serves on the Executive Committee of the Women Sectoral Group.

National Bank Of Kenya

Access Bank Gets New Board Chair Ifeyinwa Osime

Beyond her professional responsibilities, Ms Osime is committed to mentoring youths and is actively involved in the Autism and Developmental Delays Support Community, reflecting her dedication to inclusion and social impact.
Speaking on her appointment, the group chairman, Aigboje Aig-lmoukhuede, said, “Mrs Osime is a principled and experienced leader with a deep understanding of the Bank’s strategy and values.

“She has demonstrated strong commitment to the bank’s vision and mission, and I am confident that, under her leadership, the bank will continue to advance its strategic objectives of delivering sustainable value to shareholders and other stakeholders in the pursuit of its vision to become the world’s most respected African bank.”

Mr Aig-lmoukhuede also congratulated Mr Usoro on the completion of his tenure and on his exemplary leadership, dedication, and significant contributions to the group, saying he remains a valued member of the Access family.

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