FTSE Russell restored Nigeria to Frontier status on September 21, 2026, sparking an eight-session rally and lifting market cap to ₦162.39 trillion.
FTSE Russell Reinstates Nigeria, Foreign Funds Push NGX to Record 250,156.80
FTSE Russell's reclassification reopened direct access for foreign institutions, concentrating buying in top banks and lifting the NGX to 250,156.80.
Thin Cash Buffer Exposed as Legend Internet's Profit Drops 92% to ₦13.21 Million
Pre-tax profit slid to ₦13.21 million as a ₦672 million asset gain hid an operating shortfall; management must cut costs and refinance by December.
Eight Nigerian Stocks Exceed $5 Billion, Command Over ₦103.12 Trillion of Market Value
Eight firms on the Nigerian Exchange had market caps above $5 billion on Sept 2, 2026, together worth about ₦103.12 trillion, over 60% of NGX.
Vetiva Leads Dangote Refinery IPO to Broaden Ownership on Sept 14
Vetiva will lead the Dangote Petroleum Refinery IPO opening for subscription on September 14, 2026. The offer includes up to 4.1 billion shares.
Otedola’s First HoldCo Stake Climbs To ₦1.82 Trillion After Calvados Buys
Calvados spent ₦351.17 billion to buy 2.867bn First HoldCo shares, lifting Otedola’s stake to 26.71% worth about ₦1.82 trillion.
Foreign Investors Lose Ground as Nigerian Institutions Pour Trillions Into NGX Rally
Foreign participation has collapsed to 5.6% in July as local institutions drove an equities boom that produced up to 60% YTD gains at 2026 peaks.
NNPC Listing Plan Returns as Tinubu Signals Full NGX Float
President Bola Tinubu says NNPC Limited will eventually be listed in its entirety on the Nigerian Exchange, reviving a long-standing plan for the state oil company.
