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.

NPF Microfinance Bank Plc reported a 7.7% rise in profit before tax to N3.20 billion for the first half of 2026, compared to N2.97 billion in the same period of 2025. Profit after tax grew by 5.68% to N2.04 billion, while gross earnings climbed 21.17% to N11.18 billion. The performance was driven by a 25.15% increase in interest income, though profitability was partially constrained by a sharp 121.19% spike in interest expenses and rising operating costs. The bank’s total assets grew by 15.86% to N61.70 billion.

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.