Trading activity on the Nigerian Exchange Limited (NGX) surged in the week ended August 14, 2026, with traded volume rising 126.8 percent to 12.153 billion shares valued at N176.06 billion. Despite the spike in turnover, the NGX All-Share Index dipped 1.20 percent to 242,619.20 points as investors engaged in profit-taking. The Financial Services sector dominated, contributing over 92 percent of total volume. Notably, Lasaco Assurance Plc increased its issued share capital to 20.32 billion units following a successful rights issue. Despite weekly moderation, the market maintains a strong year-to-date return of 55.91 percent.

The Nigerian equities market experienced a significant correction for the week ended August 14, 2026, as investors engaged in widespread profit-taking. The NGX All-Share Index declined by 1.20% to close at 242,619.20 points, with market capitalization shedding approximately N3.8 trillion from its weekly peak.

Every sectoral index closed in the red, with the Consumer Goods Index leading the decline at 6.72%. Despite this, key sectors like Oil & Gas and Industrial Goods remain strong on a year-to-date basis. Trans-Nationwide Express emerged as the top performer with a 32.09% gain, while AVA Capital saw the sharpest decline. Trading activity surged significantly, with over 12 billion shares traded, driven largely by the Financial Services sector.

Nigeria’s top audit firms reported over N175 billion in combined revenue for the 2025 financial year, according to Financial Reporting Council of Nigeria transparency reports. KPMG Nigeria led the revenue rankings with N67 billion, despite having fewer clients than PricewaterhouseCoopers (PwC). PwC, which topped the market by client count with 295 entities, recorded N55.36 billion in revenue, followed by Ernst & Young (EY) at N42.27 billion. The data highlights a significant shift in the professional services sector, where advisory, tax, and consulting services increasingly drive revenue growth over traditional statutory audit engagements. Deloitte, BDO, Grant Thornton, and Forvis Mazars also maintained substantial market influence, though Deloitte did not disclose specific revenue figures.

Nigeria Reinsurance Corporation and NICON Insurance have filed a lawsuit against the National Insurance Commission (NAICOM) to block potential liquidation following their exclusion from the list of firms that met the new minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025. Meanwhile, Goldlink Insurance has had its operating license revoked, with a receiver appointed to commence winding-up procedures. Other insurers, including Staco Insurance and African Alliance Insurance, remain in ongoing discussions with NAICOM regarding their capital positions. NAICOM has confirmed that 43 insurance companies have successfully met the new standards, while eight others are undergoing final regulatory verification.

Lasaco Assurance Plc has successfully raised N19.3 billion in a capital exercise, exceeding its initial N18.47 billion target by approximately 4.5%. This oversubscription reinforces the company’s compliance with NAICOM’s recapitalization requirements and boosts its solvency position. The funds will be utilized to expand underwriting capacity, upgrade technological infrastructure, and strengthen the insurer’s competitive standing in large-ticket risk segments.

The National Insurance Commission (NAICOM) has confirmed that 43 insurance and reinsurance companies have successfully met the new minimum capital requirements following the conclusion of the 12-month recapitalisation exercise on July 31, 2026. This mandatory exercise was initiated under the Nigerian Insurance Industry Reform Act of 2025. While 43 firms have been verified, NAICOM noted that an additional eight companies, which submitted compliance evidence near the deadline, are currently undergoing final regulatory review, with conclusions expected within 14 days. The commission stated that this development is a major milestone designed to bolster the financial resilience and underwriting capacity of the Nigerian insurance industry.

Nigeria’s insurance sector has concluded its year-long recapitalization exercise, with 43 insurance and reinsurance companies successfully meeting new minimum capital requirements under the Nigerian Insurance Industry Reform Act 2025. This process has injected over N300 billion into the sector, aiming to bolster financial resilience and underwriting capacity. The National Insurance Commission (NAICOM) confirmed that eight additional firms are currently undergoing final verification, with decisions expected within 14 days. This reform is a key component of the federal government’s broader strategy to support a US$1 trillion economy by 2030.

The year-long insurance recapitalisation program in Nigeria concluded today, with the industry now awaiting official verification from the National Insurance Commission (NAICOM). Despite market expectations for industry-wide mergers, operators primarily met the new capital thresholds—ranging from N10 billion to N35 billion—through rights issues, private placements, and internal restructuring. Collectively, insurers raised approximately N300 billion. The regulator will now publish a list of fully compliant firms; companies failing to meet the requirements may face further regulatory action or consolidation.

The Nigerian equities market faced a mid-week downturn on Wednesday as profit-taking across the banking, consumer goods, and industrial sectors wiped 648 billion naira from total market capitalization. The NGX All-Share Index fell 0.41% to 246,980.17 points, reflecting a broad-based decline with 45 losers outpacing 23 gainers. Despite the overall negative sentiment, the insurance sector remained resilient, with stocks like Lasaco Assurance, NEM Insurance, and SUNU Assurances posting significant gains. Notable laggards included NREIT, which hit a 52-week low, alongside declines in Dangote Sugar, Oando, and major banking names. Trading activity remained high, with total volume rising by 12.11%.

The Nigerian equities market closed lower on Monday, July 27, as the All-Share Index declined by 0.05% to 247,238.74 points. This shift erased approximately N76.56 billion in market capitalisation, bringing it to N159.51 trillion. The downturn was primarily driven by profit-taking across insurance, consumer goods, and industrial sectors, while banking stocks bucked the trend to close as the day’s sole sectoral gainer. Despite the decline, market activity intensified, with a 73.6% surge in total value traded to N57.20 billion. Aradel Holdings led value contributions, accounting for 48.2% of the total turnover. Market breadth was negative, with 32 stocks declining against 28 advancers.

Lasaco Assurance Plc has successfully concluded its Rights Issue, raising N19.30 billion and surpassing its target by 4.5 percent. The capital raise has received full verification from the National Insurance Commission (NAICOM) and final approval from the Securities and Exchange Commission (SEC). This milestone significantly strengthens the insurer’s capital base, supporting its compliance with the Nigerian Insurance Industry Reform Act 2025 and enhancing its overall underwriting and risk retention capacity.

Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has stated that the regulator will maintain heightened supervision of the banking sector despite the successful conclusion of the recent recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso noted that while the industry raised between N4 trillion and N5 trillion in fresh capital to build resilience against economic shocks, continuous oversight remains essential. He emphasized that the stronger capital base is intended to support eventual increased lending to the private sector once inflation and interest rates moderate. Cardoso also warned banks against indiscriminate lending, urging them to prioritize sophisticated risk management and proper analysis, especially when navigating complex sectors like oil and gas. The CBN plans to collaborate with financial institutions to enhance their internal risk assessment capabilities.