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Femi Otedola Issues New Statement After Reports Of Transcorp Plc Acquisition

Why Femi Otedola’s Investment In First HoldCo Declined After Increasing Stake With N12bn Share Acquisition

August 24, 2026

Femi Otedola, the chairman and majority shareholder in First HoldCo Plc, has acquired 95.69 million shares of the financial institution on Monday, as the billionaire aims for 51 percent controlling stake. In

Business News·Top Stories

NGX Sheds N443bn Amid Sell-Off In Meyer, Fortis Global Insurance

August 18, 2026

The Nigerian Exchange (NGX) said the stock market capitalisation declined by N443.90 billion to N155.97 trillion on Tuesday, below the N156.41 trillion recorded on Monday. This followed a 687.61 basis points loss

Femi Otedola Sells Geregu Shares After Plan To Acquire Transcorp Fails

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Femi Otedola Increases Investment In First HoldCo To N1.68trn After Acquiring N20bn Shares

August 17, 2026

Femi Otedola, the chairman of First HoldCo, the parent company of First Bank of Nigeria (FBN), has acquired more shares in the financial institution, as the businessman strengthens his control over the

40%-171% ROI In Three Months... Investments In Mortgage Banks Boom

Business News·Top Stories

Q2 2026 Industry Review: Mortgage Bank Stocks Crash After Q1 Boom

August 12, 2026

After experiencing a bullish run in the first quarter (Q1) of 2026, the mortgage bank sector on the Nigerian Exchange (NGX), also known as the stock market, suffered a sell-off in the

FBN Holding Appoints Otedola As Chairman Days After Return To Forbes African Billionaires

Business News·Top Stories

Otedola Acquires N18bn First HoldCo Shares, Inches Closer To Triggering SEC’s Mandatory Takeover Rule

August 7, 2026

Femi Otedola, the chairman of First HoldCo, has increased his stake in the financial institution from 25.88 percent to 26.17 percent, after raising his shares in the company by 1.17 percent on

The equity market closed in positive territory for the second time this week as stocks rose by 0.04%. Investors traded N15.07bn worth of shares.

Business News·Top Stories

Nigerian Stock Market Records N1.5trn Gain, First HoldCo Leads Transactions

July 23, 2026

The market capitalisation of the Nigerian Exchange (NGX) settled at N159.82 trillion at the close of trading on Thursday. NGX reported that the market capitalisation increased by N1.55 trillion from the N158.31

Business News·Top Stories

Five Best-Performing Bank Stocks In Q2 2026

July 23, 2026

Only five banks in the banking industry recorded an increase in their shareholders’ investments between April and June 2026, with six financial institutions experiencing a decline during the period under review. According

Why Nigerian Airlines Have Been Unable To Compete With Foreign Operators - Keyamo

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Aviation Industry Review: NAHCO, Caverton Stocks Outperform Skyway In H1 2026

July 17, 2026

Investments in Nigerian Aviation Handling Company Plc (NAHCO) and Caverton Offshore Support Group Plc were more profitable than those in Skyway Aviation Handling Company Plc in the first half (H1) of 2026.

NGX Resumes Trading With N259bn Loss, Records Over N34bn Deals

Business News·Top Stories

NGX Traders Reduce Trading To N18bn Shares, Market Cap Plummet By N982bn

June 26, 2026

At the end of trading on Friday, the market capitalisation of the Nigerian Exchange (NGX) fell to N148.9 trillion, following depreciation in the share value of Aradel, International Energy Insurance, and others.

Stock Market Traders Favoured Ikeja Hotel Over Transcorp Hotels in 2025

Business News·Top Stories

Is Ikeja Hotel Losing Investor Confidence To Transcorp Hotels?

June 23, 2026

Transcorp Hotels shares were the most sought-after by equity traders in the Nigerian Exchange (NGX) in the first quarter (Q1) of 2026, compared to its industry rival, Ikeja Hotel, which struggled to

Business News·Top Stories

NGX Recovers With N751bn Gain, Traders Seal Over 60k Deals

June 22, 2026

The market capitalisation of the Nigerian Exchange (NGX) closed at N152.83 trillion on Monday, up from N152.08 trillion on Friday, representing a N751.96 billion increase. Data obtained from the stock market showed

Business News·Top Stories

Femi Otedola acquires N29bn shares in First HoldCo

June 19, 2026

Femi Otedola, the chairman of First HoldCo, has increased his stake in the parent company of First Bank to 20.42 percent after acquiring N29.6 billion worth of shares through a private placement.

Business News·Top Stories

Oil Stocks Lead NGX in Q1 2026 as Sector Outperforms

June 16, 2026

Oil and gas equities emerged as the Nigerian Exchange’s top performers in the first quarter of 2026, defying broader market weakness and currency pressures. Led by Seplat Energy, Aradel Holdings, and TotalEnergies

Business News·Top Stories

40%-171% ROI In Three Months… Investments In Mortgage Banks Boom

June 15, 2026

Retail and institutional investors holding shares of mortgage banks listed on the Nigerian Exchange (NGX) closed the first quarter (Q1) with a N167.55 billion combined gain, according to Prime Business Africa’s (PBA)

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Six Majority Investors With Highest Investment Growth In Banking Sector In Q1 2026

May 28, 2026

In the first three months of 2026, majority investors in the Nigerian banking industry recorded a combined unrealised gain of N673.77 billion, according to Prime Business Africa’s (PBA) analysis of their investment

Nigeria's Economic Independence Struggle: The Foreign Telecom Giants, Naira's Dilemma

Business News·Top Stories

Holding MTN Nigeria Shares More Profitable Than Owning Airtel Shares

May 27, 2026

In the first quarter (Q1) of 2026, equity traders in the Nigerian Exchange (NGX), also known as the stock market, favoured MTN Nigeria’s shares over its market rival, Airtel Africa. According to

Nigeria Now Leading Cement Exporter In Africa – Dangote

Business News·Top Stories

Aliko Dangote Loses 10% Of His Investment In Sugar Business

May 27, 2026

Aliko Dangote, the founder of Dangote Sugar, has recorded a 10 percent decline in his investment in the company after sell off ended the company’s trillionaire status. According to Prime Business Africa’s

Business News·Top Stories

Investors Reduce NGX Trade To N23bn Shares, Market Cap Declines By N534bn

May 26, 2026

The market capitalisation of the Nigerian Exchange (NGX), also known as the stock market, decreased to N160.44 trillion on Tuesday. According to the NGX, the market capitalisation declined by N534.71 billion from

Business News·Top Stories

Are Foreign Investors Losing Confidence In Access Holdings As They Significantly Reduce Stakes?

May 19, 2026

Foreign investors have reduced their investments in Access Holdings at a time the company’s share is plummeting and the lender is unable to pay dividends to shareholders for their investments. Prime Business

Business News·Top Stories

Femi Otedola Parts With N43bn To Tighten Control Over First HoldCo

May 14, 2026

Femi Otedola, the chairman of First HoldCo, has tightened his control over the financial institution by increasing his shareholding in the company. Otedola spent N43.41 billion to acquire 549.53 million shares of

Abdul Samad Rabiu Outearns Aliko Dangote In Nigerian Stock Market In H1 2026

Business News·FEATURES·Top Stories

BUA’s Rabiu Is Running at Dangote: Cement Wealth Gap Shrinks 74% Since 2025

April 27, 2026

Abdul Samad Rabiu isn’t catching Aliko Dangote in overall net worth yet. $11.2 billion vs $28.5 billion is still a long race. But in cement, the one industry that made both men

Business News·FEATURES·Top Stories

Presco’s Majority Shareholder Investment Crosses N1trn After Surge In Shareholding, Share Price

April 15, 2026

The majority shareholder of Presco Plc, Rasheed Sarumi, has increased his controlling stake in the palm oil producer, raising it from 60 percent at the end of 2024 to 61.20 percent as

Business News·FEATURES·Top Stories

NGX Closes Stock Trading With N706.66bn Gain

April 10, 2026

The market capitalisation of the Nigerian Exchange (NGX) increased by N706.66 billion to N131.16 trillion on Friday, April 10. According to the stock market data, the NGX market capitalisation increased from the

Stock Market Rally Halted As Demand For Ecobank, PZ Cussons Shares Dropped

Business News·FEATURES·Top Stories

NGX Traders Exchange N39.82bn Shares As Market Cap Rises By N54bn

April 9, 2026

On Thursday, April 9, the Nigerian Exchange’s (NGX) market capitalisation increased to N130.45 trillion. The market capitalisation increased by N54.81 billion from the N130.40 trillion recorded on Wednesday, April 8. This was

Business News·FEATURES·Top Stories

Dangote Cement’s Fourth Largest Investor Reduces Stake, Takes Out N71bn From Investment

April 9, 2026

The fourth largest investor in Dangote Cement, GW Grey Pte Ltd, owned by Viswanathan Shankar, has reduced its stake in the manufacturer from 0.76 percent to 0.20 percent in March. Prior to

Business News·FEATURES·Top Stories

Omatek, VFD Group, Others Lift NGX Market Cap Up By N389bn

April 8, 2026

The value of the Nigerian stock market, also known as the Nigerian Exchange (NGX), increased to N130.40 trillion on Wednesday, April 8, from the N130.01 trillion reported on Tuesday, April 7. This

Naira Scarcity: Zenith Bank's Profit Drops To N223.91bn, Faces N967bn Lawsuits

Business News·FEATURES·Top Stories

From 5bn To 5.80bn Shares… Jim Ovia Tightens Control Over Zenith Bank

April 7, 2026

The chairman and non-executive director of the Zenith Bank, Jim Ovia, has increased his shareholding in the financial institution to tighten his control over the lender. According to Prime Business Africa’s analysis

From Millionaire To Billionaire: MTN's Bullish Run Changes Karl Toriola's Net Worth Status

Business News·FEATURES·Top Stories

MTN Nigeria’s CEO Karl Toriola Increases Stake, Now Holds N3.68bn Investment In Telco

April 6, 2026

The group managing director (GMD) and chief executive officer (CEO) of MTN Nigeria, Karl Toriola, has increased his shareholding in the telecommunications company. Toriola increased his shareholding by 761,788 shares in 2025,

Wema Bank In Search Of N25 billion, Target Private Investors

Business News·FEATURES·Top Stories

Wema Bank’s Fourth Largest Investor Exit Lender, Takes Out Billion-Naira Investment

April 6, 2026

Wema Bank’s fourth largest investor has exited the company, taking along billions of naira in investment, according to Prime Business Africa’s analysis of the firm’s shareholding status. In the company’s audited financial

Ellah Lakes Shareholders Stuck With Shares Institutional Investors Don't Want

Business News·FEATURES·Top Stories

New Major Investor Quietly Takes Over Ellah Lakes As CEO, Enotie Ogbebor Offload Shares

April 3, 2026

In 2025, a period Ellah Lakes failed to raise N235 billion through public offering and private placement due to stock traders in the Nigerian Exchange (NGX) snubbing the firm’s offer, major investors

Business News·Top Stories

Yemi Odubiyi Increases Stake In Sterling Financial Holdings After Acquiring N1.15bn Shares

The chief executive officer (CEO) of Sterling Financial Holdings Company Plc, Yemi Odubiyi, has increased his stake in the company from 1.39 percent to 1.71 percent on Monday, December 29. In a share dealing by an insider document obtained from the Nigerian

December 30, 2025

Geregu Power Plc Surges With 15% Gain In 2 Days, Hits N2.875trn Market Cap

Business News·News·Top Stories

Femi Otedola Sells N2.17trn Stake In Geregu, Resigns As Chairman

Femi Otedola, the majority stakeholder in Geregu Power, has sold his N2.17 trillion stake in the power generation company and resigned from his position as chairman. Geregu announced the transaction on Monday, December 29, via a statement to the Nigerian Exchange (NGX)

December 29, 2025

Business News·Top Stories

Otedola Buys 369.98m First HoldCo Shares — After Taking Out N14.8bn From Geregu Investment

Femi Otedola, the chairman and majority shareholder of First HoldCo, has increased his stake in the financial institution by buying 369.98 million shares on Thursday, December 18. According to First HoldCo’s notification of share dealing by an insider, Otedola paid N14,82 billion,

December 19, 2025

NGX Suspends Trading In Unity Bank, Guinea Insurance, 6 Other Companies’ Shares

Business News·Top Stories

Transcorp Hotels, Ikeja Hotels Among Losers As NGX Market Cap Sheds N310bn

About N310 billion was lost in the Nigerian Exchange (NGX) on Tuesday, December 9, as the bourse’s market capitalisation dwindled to N93.65 trillion, from the N93.96 trillion reported on Monday, December 8. According to NGX data, 487.66 basis points were wiped from the

December 9, 2025

Fidelity Bank Kicks Off N127 Billion Public Offer, Rights Issue Today

Business News·Top Stories

Fidelity Bank Is Least Performing Bank Stock In Q3 2025

Fidelity Bank was the least performing bank on the Nigerian Exchange (NGX) Limited, also known as the stock market, in the third quarter (Q3) of 2025. According to Prime Business Africa’s (PBA) analysis, out of 11 banks covered in the stock market,

December 3, 2025

Business News·Top Stories

Five Out Of Six Oil Companies Performed Woefully On NGX In Q3 2025

Shareholders of Eterna Plc, Oando Plc, Conoil, Total Nigeria and Seplat Petroleum ended the third quarter (Q3) with significant losses, compared to those of Aradel Holdings on the Nigerian Exchange (NGX) Limited. However, despite five out of six oil companies’ stocks declining

December 2, 2025

Business News·Top Stories

MTN Attracted More NGX Investors Than Airtel, Legend Internet In Q3 2025

MTN Nigeria closed the third quarter of 2025 as the most sought-after telecommunications stock on the Nigerian Exchange (NGX) Limited, also known as the stock market, according to Prime Business Africa’s analysis. Equity investors snubbed MTN’s market rivals like Legend Internet and

November 27, 2025

Business News

Equity Investors Trade N35.53bn Shares On NGX, AIICO Tops Gainers’ List

The market capitalisation of the Nigerian Exchange (NGX) Limited closed at N90.99 trillion on Wednesday, November 26. Also, the all-share index (ASI) settled at 143,064.57 ASI, while equity traders exchanged 738.35 million shares in 19,919 deals, worth N35.53 billion. Top five gainers

November 26, 2025

Business News

Sterling Financial, Prestige Extend NGX Downward Trend

On Monday, November 24, the Nigerian Exchange (NGX) Limited’s market capitalisation fell to N91.34 trillion, from the N91.41 trillion recorded on Friday, November 21 This followed a 108.01 basis points drop in the all-share index (ASI), which dropped to 143,614.61 ASI, from

November 24, 2025

Business News

Best Performing Brewery Stocks On NGX In Q3 2025

Out of the four brewery companies listed on the Nigerian Exchange (NGX) Limited, also known as the stock market, only International Breweries suffered a decline in its share value in the third quarter (Q3) of 2025. According to Prime Business Africa’s market

November 24, 2025

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