Economy
Update: 93% Trade Decline Recorded On NGX In 3 Days
Update: 93% Trade Decline Recorded On NGX In 3 Days
Update: 93% trade decline recorded on NGX in 3 days. Stock market investors traded 1.18 billion shares valued at N28.87 billion in 42,397 deals between April 2 and April 4. The stocks market weekly report of the Nigerian Exchange Limited (NGX) showed that the figures are lower compared to the previous week when investors traded 7.5 billion shares valued at N398.95 billion in 61,312 deals.
The report reveals a 92.7 percent trade decline within a three-day period, following the federal government’s declaration of March 31 and April 1 as public holidays for the 2025 Eid el Fitr celebration.
FINANCIAL SERVICES TOP PERFORMANCE
The report showed that the financial services industry topped the table by volume of shares traded, as investors exchanged 906.59 million shares valued at N18.926 billion in 22,876 deals.
“Thus contributing 76.60% and 65.56% to the total equity turnover volume and value respectively,” the NGX report said. “The Consumer Goods industry followed with 71.059 million shares worth N2.224 billion in 3,394 deals. Third place was the Services Industry, with a turnover of 47.305 million shares worth N396.897 million in 2,132 deals.”
TOP THREE EQUITIES
According to the NGX report, the top three trading equities in the period reviewed are Fidelity Bank Plc, Zenith Bank Plc, and Universal Insurance Plc.
Measured by volume, the bourse said the three equities accounted for 264.627 million shares worth N5.932 billion in 5,714 deals — contributing 22.36 percent and 20.55 percent to the total equity turnover volume and value, respectively.
TOP GAINERS OF THE WEEK
The report said VFD Group Plc stock gained N9.8 kobo, ending the week with N57 per share, higher than the N47.2 kobo it started with.
The share price of Union Dicon Salt Plc rose to N5.8 kobo per share from N4.85 kobo — gaining N0.95 kobo.
Africa Prudential Plc saw its stock price rise by N2.05 kobo to end the week with N15.1 kobo — up from its opening price of N13.05 kobo.
Nigeria Exchange Group’s share value grew to N32.45 kobo per share, recording an increase of N3.45 kobo from N29. Also, the shares of UPDC Real Estate Investment Trust closed the week at N6.1 kobo per share from N5.5 kobo, appreciating by N0.6 kobo.
TOP FIVE DECLINERS OF THE WEEK
Further analysis shows that UACN Plc lost N6.5 kobo to settle at N29. This, the company said, is below the N35.5 kobo it opened the week with.
The report also said Sunu Assurances Nigeria Plc lost N0.89 kobo to close at N5.76 kobo per share, against the opening price of N6.65 kobo.

NGX In 3 Days
In addition, the share price of Universal Insurance Plc dropped by 13.33 percent to N0.52 kobo, recording a loss of N0.08 kobo, from the N0.6 per share it started trading with.
The NGX said Oando Plc’s share price fell from N48.35 kobo to N42 per share, losing N6.35 kobo within three days.
According to the report, Consolidated Hallmark Holdings also booked a loss of 12.85 percent as its share price dropped to N3.12 kobo per share, from N3.58 kobo.
Economy
Lagos Assembly Strongly Seeks Suspension Of Makoko Demolition
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
“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.
Crime
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
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
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
Economy
Access Bank Gets New Board Chair Ifeyinwa Osime
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.

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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