The Nigerian equities market reached a record market capitalization of N162.157 trillion for the week ending September 18, 2026, as the All-Share Index surged 2.78% to 249,804.56 points. This rally, fueled by positive market breadth and 52 advancing equities, marks a significant recovery from previous sell-offs. UPDC REIT led the gainers with a 34.91% rise, followed by Sovereign Trust Insurance and Mutual Benefits Assurance. Sectorally, Consumer Goods and Banking led the performance, while new listings from Abbey Bank and Critical Minerals Financing Corporation further bolstered market activity. Market sentiment remains focused on the ongoing Dangote Refinery IPO and the upcoming reclassification to Frontier Market status.

The Nigerian Exchange (NGX) extended its gains for a fourth consecutive session on Tuesday, September 15, 2026. The All-Share Index (ASI) rose by 0.41% to 244,304.51 points, while market capitalisation increased by N650 billion to close at N158.4 trillion. Investor activity saw a sharp uptick, with trading volume rising by over 21% to 520.65 million shares across 71,977 deals. Nigerian Exchange Group led the top gainers, while Ecobank Transnational Incorporated led the losers. Sectorally, the Oil and Gas index outperformed, driving overall market momentum.

Mutual Benefits Assurance Plc has declared a final dividend of 4 kobo per share for the 2025 financial year, totaling N802.46 million. This payout represents a 100 percent increase over the previous year and received shareholder approval during the company’s 30th Annual General Meeting. The company, which recently completed its NAICOM-mandated recapitalisation, stated that the improved dividend reflects its strengthened financial position and commitment to delivering long-term value to its investors.

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.

Twelve Nigerian Exchange (NGX) listed companies have paid a cumulative N287.14 million in penalties to NGX Regulation Limited (NGX RegCo) for failing to meet mandatory financial filing deadlines. These sanctions, part of a broader enforcement action involving 49 companies, represent a significant impact on corporate coffers and shareholder value. Mutual Benefits Assurance Plc leads the list with N67.44 million in penalties, followed by International Energy Insurance Plc and Universal Insurance Plc. The penalties underscore the regulatory push for timely disclosures as a pillar of market transparency.

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.