News
Investor interest in MTN, Transcorp Hotel boosts market by N29bn

Opening the week, renewed investor interests in the stocks of MTN Nigeria and Transcorp Hotel, on Monday, drove the Nigerian Exchange Ltd. (NGX) market capitalisation up by N29 billion gain.
Other primary drivers of the overall market’s performance included: Berger Paints, PZ Cussons, Unity Bank, AIICO Insurance, Nigerian Breweries, among others advanced equities.
Specifically, the market capitalisation which opened at N55,507 trillion, gained N29 billion or 0.05 per cent to close at N55.536 trillion.
The All-Share Index also rose by 0.05 per cent or 51 points to settle at 98,176.58, in contrast to 98,125.73 recorded on Friday.
Consequently, the Year-To-date (YTD) return rose to 31.30 per cent.
However, the market breadth closed negative with 28 losers equities outnumbering 13 gainers
On the losers’ table, Champion led by 10 per cent to close at N2.97, C&I Leasing Plc followed closely by 9.80 per cent to close at N9.80 per share.
Sovereign Trust Insurance lost 9.76 per cent to close at 37k, Chams declined by 9.64 per cent to close at N1.50, while RT Briscoe depreciated by 9.62 per cent to close at 47k per share.
Conversely, McNichols Plc led the gainers’ table by 10 per cent to close at N1.10, and Berger Paints trailed by 9.72 per cent to close at N13.55 per share.
Regency Alliance Insurance went up by 9.68 per cent to close at 34k, WAPIC advanced by 6.15 per cent to close at 69k and Cornerstone Insurance gained five per cent to close at N2.10 per share.
Also, the analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 28.98 per cent.
A total of 405.66 million shares valued at N6.69 billion were exchanged in 8,439 deals, as against 140.77 million shares worth N9.42 billion in 6,934 deals traded on Friday.
Access Corporation led the activity table in volume and value with 201.31 million shares valued at N3.41 billion, Transnational Corporation traded 38.21 million shares at N435.75 million.
Zenith Bank sold 15.26 million shares worth N484.71 million, Nigerian Breweries transacted 13.74 million shares valued at N316.28 and Jaiz Bank 13.68 million shares worth N30.22 million.
Meanwhile, equity market analysts predicted that investors would trade cautiously this week.
The analysts predicted that trading on the Exchange this week would be driven by the outcome of the anticipated Monetary Policy Committee (MPC) meeting that started from Monday to Tuesday.
They said investors would also react to the inflation figures announced last week by the National Bureau of Statistics(NBS).
At Cowry Asset Management, the analysts said that the market is expected to maintain a weak sentiment as investors continue to digest the latest economic data from the statistics bureau.
They said that the anticipated outcome of the MPC meeting, likely to result in a modest 100 basis points rate hike could further dampen market sentiment.
At Cordros Capital, the analysts predicted that investors would focus on the outcome of the MPC meeting to gain further clarity on yield movements in the fixed-income market.
“Consequently, we anticipate cautious trading from domestic investors in the short term,” they said. (NAN)
News
Matawalle Meets Chinese Defence Firm To Bolster Nigeria’s Anti-Terrorism Capabilities

The Honourable Minister of State for Defence, Dr. Bello Muhammed Matawalle, has engaged in a high-level security meeting with a leading Chinese manufacturer of advanced anti-terrorism and high-tech defence equipment, aimed at enhancing Nigeria’s defence capabilities.
The meeting, which took place in China, underscores the Federal Government’s commitment to modernising the nation’s security apparatus to combat insurgency and other threats.
According to a statement signed by the minister’s Personal Assistant (Media), Ahmad Dan-Wudil, and made available to journalists in Abuja on Wednesday, the engagement focused on formalising a strategic partnership through a Memorandum of Understanding (MoU) between the Chinese firm and the Defence Industries Corporation of Nigeria (DICON).
The collaboration is expected to play a pivotal role in advancing Nigeria’s security sector, aligning with President Bola Ahmed Tinubu’s vision for a comprehensive overhaul of the country’s defence framework.
The MoU outlines a robust partnership, with the Chinese company committing to significant investments in Nigeria’s defence infrastructure.
According to the statement, Key components of the agreement include the transfer of cutting-edge defence technology, the establishment of local manufacturing capabilities for advanced military equipment, and capacity-building initiatives to enhance the technical skills of Nigerian personnel.
“This move is seen as a step towards building a self-reliant and globally competitive military-industrial base.
Dr. Matawalle emphasised that the partnership represents a landmark achievement in Nigeria’s defence modernisation agenda.
“This collaboration will not only strengthen our fight against terrorism but also position Nigeria as a regional leader in defence technology,” he stated.
The minister highlighted the government’s determination to leverage international partnerships to address the nation’s evolving security challenges.
Under the terms of the agreement, new production lines will be established for various ammunition types, including 7.62x51mm ball cartridges, 7.62x51mm blank cartridges, 9x19mm pistol cartridges, and machine gun ammunition.
Additionally, manufacturing workshops and facilities will be set up in Kaduna and Kachia, Kaduna State, to produce essential defence components such as brass casings and bullet jackets.
The partnership extends beyond production, encompassing the maintenance and upgrading of existing military hardware, servicing of battle tanks, and the provision of military engineering services.
These efforts are expected to enhance the operational readiness of the Nigerian Armed Forces, enabling them to respond more effectively to security threats within the country and across the region.
The minister’s visit to China follows a series of engagements with international partners, including the United States and Saudi Arabia, as part of Nigeria’s broader strategy to strengthen bilateral defence ties.
In a recent meeting with the United States Africa Command (AFRICOM), Dr. Matawalle called for increased support in intelligence sharing and counterterrorism efforts, underscoring the need for global cooperation to tackle insecurity.
The agreement with the Chinese firm has been hailed as a critical step towards achieving President Tinubu’s Renewed Hope Agenda, which prioritises security, economic development, and private-sector involvement.
The minister reiterated the government’s openness to foreign investment in critical sectors such as defence, steel, and energy to drive technological advancement and job creation.
News
Gamblers Predict New Pope as Betting Sites Place Odds on Top Candidates

Gamblers are staking millions of dollars to predict who will emerge as new pope as betting sites place odds on the candidates as the Catholic Church cardinals sweat to pick a new pontiff.
Polymarket, an American cryptocurrency-based betting site, has placed odds on candidates who will emerge.
Similarly, Kalshi, another American betting site, is coordinating predictions on who emerges as the new Catholic pope.
On Polymarket, over $21 million worth of bets have been staked in the conclave election, in which Vatican Secretary of State Cardinal Pietro Parolin and Filipino Cardinal Luis Antonio Tagle are considered the leading candidates.
Mr Parolin leads with 27 per cent odds, while Mr Tagle comes second with 23 per cent odds. Matteo Zuppi, Pierbattista Pizzaballa, and Peter Erdo came third, fourth and fifth with 11, 10 and 7 per cent odds, respectively.
On Kalshi, where over $8milliom has been staked, Mr Parolin leads with 29 per cent odds, followed by Mr Tagle’s 22 per cent odds and Mr Pizzaballa’s 10 per cent odds.
This comes as 133 cardinals from across the globe commenced a conclave to decide who would emerge as the new pope on Thursday.
Though conclave elections have been highly unpredictable for years, gamblers throw in thousands of dollars for a possible kill should their candidate emerge.
In 2013, contrary to projections on the possible emergence of Cardinal Angelo Scola, who was then regarded as the favourite, Cardinal Jorge Mario Bergoglio emerged as Pope Francis.
On Wednesday, thick black smoke billows from the Sistine Chapel chimney at the end of the first meeting of the cardinals, signalling that no pope has been elected.
The election of the 267th pope, which commenced on Wednesday. A new pope will poll a two-thirds majority to emerge during the election process.
Then, white smoke will be released from the Sistine Chapel chimney.
News
ECOWAS Free Movement: Tinubu Initiates Dismantling of Checkpoints

President Bola Tinubu has mandated the formation of a Presidential Task Force aimed at eliminating numerous checkpoints that impede free movement.
Ambassador Musa Nuhu, Nigeria’s Permanent Representative to ECOWAS, revealed this initiative during a visit to the Nigeria-Benin Republic border in Seme on Wednesday.
“We are commencing with the Seme-Badagry Corridor. A committee has been established under the auspices of the Secretary to the Government of the Federation, and we will soon begin addressing this matter.
“We have taken note of all the concerns raised, and I assure you that the Nigerian government will tackle the other issues mentioned subsequently.”
Numerous complaints have surfaced regarding the excessive checkpoints along the Badagry-Seme corridor, which adversely affect the seamless movement of individuals and goods between Nigeria and the Benin Republic.
Ambassador Nuhu emphasized, “This is the most trafficked border in West Africa regarding the flow of goods, people, and services. If free movement is to be effectively implemented in West Africa, it will be evident at this border.”
Motorists attending the meeting expressed their frustrations about the numerous checkpoints and the extortion practices by security personnel along the route.
In response, Omar Alieu Touray, President of the ECOWAS Commission, stated that any fees paid by motorists should be accompanied by official receipts.
He expressed concern that the proliferation of checkpoints and the extortion of citizens within member states undermine ECOWAS’s goal of fostering a more integrated region.
“While we must inspect passengers and road users, we should move beyond arbitrary charges that lack receipts. If payments are necessary, they should be properly documented.
“It is one thing to request that someone open their bags for inspection, but it is entirely different to demand payment that is not receipted.”