Economy
Weekly Report: Equity Market Loses N1.32trn amid CBN Rate Hike
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Equity investors on the Nigerian Exchange Ltd. (NGX) experienced a significant loss of N1.32 trillion in the just concluded week.
The downward performance was driven by selloffs in Tier-one banking stocks namely: Zenith Bank, Guaranty Trust Holding Company (GTCO), and also Dangote Cement, Dangote Sugar, African Prudential, among others.
Specifically, investors reacted negatively to the Central Bank of Nigeria’s (CBN’S) hike in the Monetary Policy Rate (MPR) announced within the week.
The News Agency of Nigeria (NAN) reports that CBNs Monetary Policy Committee (MPC) on Tuesday announced another increase in the country’s MPR by 50 basis point to 26.75 per cent, from 26.25 per cent.
Dr. Yemi Cardoso, CBN Governor, said the decision was in response to the continued inflationary pressures.
He noted that it was important to deal with inflation, as the apex bank was concerned over the impact of the inflation on ordinary Nigerians and businesses.
The NGX) All-Share Index and Market Capitalisation depreciated by 2.33 per cent each to close the week at 98,201.49 and N55.605 trillion respectively, against 100,539.40 and N56.929 trillion posted in the previous week.
Similarly, all other indices finished lower with the exception of NGX MERI Value which appreciated by 0.72 per cent while the NGX ASeM and NGX Sovereign Bond indices closed flat.
Also, 20 equities appreciated in price during the week, lower than 37 equities in the previous week.
Forty-seven equities depreciated in price, higher than 34 in the previous week, while 84 equities remained unchanged, higher than 80 recorded in the previous week.
Secure Electronic Technology Plc led 46 declined equities on the losers’ table by 26.32 per cent to close at 42k per share.
Sovereign Trust Insurance Plc led 19 other advanced equities on the gainers table by 14.29 per cent to close at 56k per share.
Meanwhile, a total turnover of 3.557 billion shares worth N47.220 billion in 42,871 deals was traded during the week by investors.
This is in contrast to a total of 2.827 billion shares valued at N42.366 billion that exchanged hands last week in 44,277 deals.
The Financial Services Industry measured by volume led the activity chart with 2.011 billion shares valued at N25.783 billion traded in 24,350 deals.
This contributed 56.52 per cent and 54.60 per cent to the total equity turnover volume and value respectively.
The Services industry followed with 1.020 billion shares worth N3.216 billion in 1,846 deals.
The third place was the Agriculture industry, with a turnover of 168.028 million shares worth N647.859 million in 1,473 deals.
Trading in top three equities namely: Tourist Company of Nigeria Plc, FCMB Group Plc and Abbey Mortgage Bank Plc measured by volume accounted for 1.876 billion shares worth N8.511 billion in 935 deals.
This contributed 52.73 and 18.02 per cent to the total equity turnover volume and value respectively.
Looking ahead to the coming week, Analysts at Cowry Asset Management Ltd., predicted that bearish trend is expected to persist.
The analysts said this is because market players would continue to digest the outcome of the recently published economic data and the interest rate hike by the apex bank.
They noted that the continued rise in yield levels within the fixed income and money market spaces is likely to maintain the unattractiveness of equities, as investors opt for the appealing yields.
“Nonetheless, a mildly positive performance is anticipated on the back of continued earnings releases and attractive dividend declarations by corporations in the coming week.
“As the market structure and fundamentals evolve, investors are advised to position themselves in stocks with sound fundamentals to navigate the prevailing conditions effectively,” the analysts stated.
(NAN)
Economy
Oyedele Delivers ₦39.63bn Lifeline to 24,814 Pensioners as PTAD Clears Long-Standing DBS Liabilities
L:R: Director General of PTAD, Mrs Tolulope Odunaiya in a warm handshake with the Minister of Finance, Mr Taiwo Oyedele in Abuja.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has reaffirmed his commitment to improving the welfare of Nigerian pensioners with the successful disbursement of ₦39.63 billion to 24,814 eligible Defined Benefit Scheme (DBS) pensioners, ending years of anxious waiting for thousands of retirees.
Working under the supervision of the Federal Ministry of Finance, the Pension Transitional Arrangement Directorate (PTAD) carried out the payments following the Minister’s directive to prioritise the settlement of verified pension liabilities, bringing relief to beneficiaries across the country.
Mr. Oyedele said the payment reflects the administration’s determination to ensure that retired public servants receive the benefits they earned through decades of dedicated service.
“A nation that values service must also honour those who gave their productive years in its service. This payment is about people, not just figures. It is about restoring confidence, rewarding sacrifice and giving thousands of pensioners and their families the reassurance that they have not been forgotten.”
The Minister explained that the disbursement covered three categories of outstanding pension obligations that had accumulated over the years.
According to him, PTAD paid ₦25,053,703,604.12 to clear the outstanding 35-month pension liability owed to 9,675 eligible Defined Benefit Scheme pensioners of the defunct NITEL/MTEL.
The Directorate also disbursed ₦9,481,886,576.53, representing the initial 50 per cent payment of the Back End Computation (BEC) arrears due to 3,959 eligible PHCN Defined Benefit Scheme pensioners.
In addition, PTAD paid ₦5,094,784,054.27, representing the outstanding 50 per cent balance of the 10.66 per cent and 12.95 per cent pension increment arrears due to 11,180 eligible Defined Benefit Scheme pensioners of the defunct Assurance Bank, NICON Insurance, NITEL and People’s Bank of Nigeria.
For many of the beneficiaries, the payments mark the end of years of uncertainty. They provide the means to meet pressing family needs, pay medical bills, support loved ones and enjoy retirement with greater peace of mind.
Mr. Oyedele said government remains mindful of the real lives behind every pension payment.
“Behind every approved payment is a retiree who served this country faithfully, a family that has waited patiently and a story that deserves a positive ending. We will continue to support measures that improve the lives of our senior citizens while maintaining fiscal discipline and accountability.”
The Minister commended the management and staff of PTAD for the prompt implementation of the directive, describing the successful disbursement as evidence of what can be achieved when institutions work together in the public interest.
“PTAD has demonstrated professionalism in implementing this exercise. The Ministry will continue to provide the policy direction and support required to strengthen pension administration and ensure that verified obligations are settled as resources become available.”
The Director-General of PTAD, Mrs. Tolulope Odunaiya, said the Directorate remained focused on delivering efficient pension administration and expressed appreciation to the Honourable Minister for his leadership and support, which made the release and prompt disbursement of the funds possible.
The latest payment represents another important step in the Federal Government’s efforts to improve the welfare of retirees and ensure that public institutions deliver meaningful outcomes for Nigerians under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
The Black Market Dollar-to-Naira Exchange Rate for 3rd July 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 3rd July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1408 and buy at ₦1396 on Friday, 3rd July, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1408
Buying Rate ₦1396
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1373
Lowest Rate ₦1360
The Black Market Dollar-to-Naira Exchange Rate for 1st July 2026 Can Be Accessed Below.
NOTE: The exchange rate changes hourly. It depends on the volume of dollars available and the Demand. This means…you can buy or sell 1 dollar at a certain rate, and the price can change (high or low) within hours.
The official naira black market exchange rate in Nigeria today, including the Black Market rates, Bureau De Change (BDC), and CBN rates.
Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.
What’s the dollar to naira black market today, 1st July 2026?
The exchange rate for a dollar to naira at Lagos Parallel Market (Black Market) players sell a dollar for ₦1400 and buy at ₦1390 on Wednesday, 1st July, 2026, according to sources at Bureau De Change (BDC).
Please note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market), as it has directed individuals who want to engage in Forex to approach their respective banks.
Dollar to Naira Black Market Rate Today
Dollar to Naira (USD to NGN) Black Market Exchange Rate Today
Selling Rate ₦1400
Buying Rate ₦1390
Dollar to Naira CBN Rate Today
Dollar to Naira (USD to NGN) CBN Rate Today
Highest Rate ₦1385
Lowest Rate ₦1376
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