The Nigerian Exchange Ltd. (NGX) equities market on Tuesday reversed its four-session bullish run, losing N1.166 trillion in market capitalisation amid sell-offs in key stocks.

Market capitalisation fell by 0.73 per cent from N160.421 trillion to N159.255 trillion, while the All-Share Index (ASI) shed 1,806.18 points to close at 246,723.57.

The market’s year-to-date return also declined to 58.55 per cent, despite the positive breadth, which recorded 28 gainers against 27 losers.

Thomas Wyatt Nigeria led the losers, declining 9.97 per cent to close at N2.89, followed by AVA Capital, which fell 9.60 per cent to N8.95.

International Energy Insurance dropped 6.32 per cent to N4, while International Breweries shed 5.98 per cent to close at N11 and Guinea Insurance declined 5.13 per cent to 74k.

On the gainers’ chart, UPDCREIT led with 10 per cent to close at N14.85, followed by FTN Cocoa Processors, which rose 9.88 per cent to N8.90.

C&I Leasing gained 8.26 per cent to N5.90, while Sovereign Trust Insurance advanced 6.74 per cent to N1.90 and Regency Alliance Insurance rose 6.33 per cent to 84k.

Trading volume surged to 3.909 billion shares valued at N32.38 billion in 45,608 deals, compared with 1.137 billion shares worth N27.02 billion exchanged in 59,185 deals on Monday.

Fortis Global Insurance dominated trading, accounting for 3.29 billion shares worth N9.58 billion, representing 84.22 per cent of total volume and 29.57 per cent of total value traded. (NAN)

By Peter Egwuatu 

THE Managing Director and Chief Executive Officer, AVA Capital Plc, Mr. Kayode Fadahunsi has revealed that safeguarding investors’ capital remains the biggest post listing challenge.

He added that preserving investor trust would be the company’s foremost priority, adding that the group seeks to strengthen governance, transparency and accountability while pursuing long-term growth as a public company.

It will be recalled that AVA Capital was recently admitted to the Main Board of NGX following the listing by introduction of its five billion ordinary shares at N7.50 per share, with a market capitalisation of N37.5 billion.

Speaking during an executive media roundtable in Lagos, Fadahunsi said: ”Our company is poised to maintain openness in its activities, and the investment banking group now accounts to a broader community of shareholders, among other capital market stakeholders.  

He further revealed that its Board of Directors will come up with a sustainable dividend policy as part of corporate governance principles that will add value to the stakeholders.

 “We are now accountable to a broader community of shareholders, regulators, clients, employees and the investing public. With that comes a deeper commitment to transparency, good governance and open engagement” he added.

According to him: “Preserving investor trust would be its foremost priority, maintaining that the group seeks to strengthen governance, transparency and accountability while pursuing long-term growth as a public company.” Fadahunsi noted  that investors’ confidence is fundamental to its business model, saying: “Although we continue to monitor risks such as inflation, exchange rate volatility and interest rates, safeguarding investors’ capital remains our biggest post-listing challenge.” 

By Elizabeth Adegbesan

Driven by an 18.7 percent decline in import bill, Nigeria’s trade surplus rose by 32.06 percent month-on-month (MoM) to $3.46 billion in April 2026 from $2.62 billion in March 2026.

The Central Bank of Nigeria, CBN, disclosed this yesterday in its April 2026 Economic Report.

CBN said: “The goods account recorded a higher trade surplus, mainly driven by a decline in import bill. Provisional data showed that the trade account recorded a surplus of $3.46 billion, compared to $2.62 billion in the preceding month.

“The performance was driven by 18.70 per cent decrease in import bills to $3.13 billion from $3.85 billion in March, as imports of both oil and non-oil products declined.”

Export receipts increased by 1.85 per cent to $6.59 billion from $6.47 billion, owing to higher non-oil export earnings.

In a breakdown of the trade receipts by composition, CBN said that oil exports accounted for 85.41 per cent of total export receipts, while non-oil exports constituted the balance.

In terms of imports, non-oil imports accounted for 81.75 per cent, while oil imports made up the balance.

On oil export, CBN said: “Oil export earnings moderated during the review period, driven by lower receipts from gas and refined petroleum product exports.

“Aggregate oil export earnings fell slightly to $5.62 billion in April, from $5.70 billion in March.

“A breakdown shows that receipts from gas exports and refined petroleum product exports decreased to $0.84 billion and $0.79 billion, respectively, compared with $0.86 billion and $1.35 billion in the preceding month.

“In contrast, receipts from crude oil exports increased to $3.99 billion, from $3.49 billion in March, driven by higher global crude oil prices.”

The apex bank noted that Non-oil export earnings improved in April, owing to a rise in global commodity prices.

“Earnings from non-oil products exports increased to $0.96 billion from $0.77 billion, driven largely by improved export receipts from cashew nuts and fertiliser.

“Analysis of Nigeria’s top 10 non-oil export destinations indicated India as the leading destination, accounting for 16.51 per cent, followed by Vietnam (10.96 percent), the US (8.71 percent), China (8.48 percent), and Germany (5.88 percent)”

On imports, CBN said: “Merchandise imports decreased, driven by lower oil and non-oil imports.

“A disaggregation showed that non-oil imports decreased to $2.56 billion from $2.81 billion in the preceding month, due to a decline in imports of agricultural goods and raw materials.

“Similarly, oil import fell to $0.57 billion from $1.05 billion, owing to increased domestic refining capacity.”