Business
Stock Market Declines Further as 28 Firms Lose
The nation’s stock market declined further on Tuesday as bearish sentiments persisted, making investors lose N4.8bn.
The market capitalisation of equities listed on the Nigerian Stock Exchange dropped from N10.954tn on Monday to N10.948tn on Tuesday while the year-to-date loss stood at -7.3 per cent.
On Tuesday, the stock market drew closer to a two-year low level of 25,780.02 basis points on April 21, 2017 and a one-year low level of 28,780.02bps as the All Share Index depreciated by 0.04 per cent to settle at 29,149.46 basis points on the back of sell-offs in Ecobank Transnational Incorporated, Dangote Cement Plc and Dangote Sugar Refinery Plc.
Activity level declined as volume and value traded fell by 17.7 per cent and 41.8 per cent to 374.026 million units and N3.057bn, respectively.
The top traded stocks by volume were Sterling Bank Plc (119.7 million units), Chams Plc (50.3 million units) and FBN Holdings Plc (44.6 million units) while the top traded stocks by value were Guaranty Trust Bank Plc (N788m), Zenith Bank Plc (N471.3m) and FBN Holdings Plc (N323.1m).
Performance across sectors was bearish as all indices closed on a negative note. The insurance index led losers, down by 1.8 per cent largely on the back of losses in NEM Insurance Plc.
The banking and oil and gas indices dipped by 0.5 per cent and 0.4 per cent, respectively, due to profit-taking in Zenith Bank, FBN Holdings and Oando Plc.
The consumer goods index fell by 0.2 per cent due to sell-offs in Nascon Allied Industries Plc and Dangote Sugar Refinery.
Major losses recorded in Dangote Cement dragged the industrial goods index down by 0.1 per cent.
Investor sentiment improved to 0.8x from the 0.4x recorded on Monday as 12 stocks advanced against 15 decliners.
The top five losers were NEM Insurance, Ecobank, Livestock Feeds Plc, Niger Insurance Plc and Nascon Allied Industries, whose respective share prices shed 9.87 per cent, 6.67 per cent, 5.66 per cent, 4.76 per cent and 4.75 per cent.
Analysts at Afrinvest Securities Limited said following the mild improvement in Tuesday’s trading session, relative to the prior session, they did not rule out the possibility of a positive performance in Wednesday’s trading session buoyed by the improving investor sentiment.
“However, we advise investors to remain cautious while seeking for opportunities as we maintain our bearish outlook over the near term,” they added.
The Punch
Business
One-Day MD/CEO Children’s Day Initiative: Wema Bank Makes Final Call for Submission of Entries
As the deadline of May 20, 2026, fast approaches, Wema Bank has announced the last call for submissions for children and teens interested in participating in becoming MD/CEO of Wema Bank for one day.
Launched in May 2025 as part of Wema Bank’s 80th anniversary celebration, the One-Day MD/CEO initiative was introduced by Wema Bank to commemorate Children’s Day in a uniquely unprecedented manner. Inspired by the Bank’s 80th anniversary theme “80 Years of Impact, A Future of Possibilities”, the Wema Bank One-Day MD/CEO initiative served as a bridge between past and future, giving children across Nigeria the once-in-a-lifetime opportunity to become the MD/CEO of Wema Bank for one day—Children’s Day.
As 12-year-old Chiderije Mbah emerged winner, the Wema Bank One-Day MD/CEO initiative dominated the conversation on May 27, 2025, with children across Nigeria inspired to put in the work towards a successful future and parents commending the Bank’s consistent commitment to empowering children and helping them build the right future. This year, 2026, the Wema Bank One-Day MD/CEO initiative has returned on a larger scale.
For the 2026 Children’s Day celebration, Wema Bank will give another child or teenager [ages 0-16] a chance to step into the shoes of Managing Director/CEO of Wema Bank, for a day. The child will get to oversee board meetings, make tactical decisions, and experience firsthand the demands and responsibilities that come with the office of MD/CEO, especially for an institution like Wema Bank, Nigeria’s oldest indigenous national bank, most innovative and pioneer of Africa’s first fully digital bank, ALAT.
To participate, children/teens are expected to record a 60-second video detailing what their ideal role in banking would be and what they hope to achieve. This video is to be posted on any social media platform using #EvolutionOfPossibilities and tagging @wemabank on the post. The post with the highest number of likes emerges winner and the winner gets to become MD/CEO of Wema Bank on Monday, May 25, 2026, in celebration of Children’s Day.
Both parents and teens are encouraged to hurry and make their submissions now as entry closes in less than two days, specifically on Wednesday, May 20, 2026.
More details on the Bank’s social media platforms @wemabank
First Bank of Nigeria Limited has announced the launch of its Naira Visa Debit Card, in partnership with Visa to extend accessible, reliable electronic payment capabilities to a broader segment of the Nigerian population.
The card is targeted at everyday consumers who require a dependable payment instrument for routine domestic and international transactions. Accepted across POS terminals, ATMs, and online platforms through Visa’s payments network, the Naira Visa Debit Card is designed to reduce friction for customers transitioning from cash to electronic payments across retail, utilities, and digital commerce.
The launch aligns with Nigeria’s ongoing drive toward a cashless economy, a policy direction that has gained significant momentum following successive Central Bank of Nigeria directives encouraging the adoption of electronic payment channels. The card is intended to serve customers across the country’s diverse economic segments.
Speaking on the launch, Chuma Ezirim, Group Executive, eBusiness & Retail Products, FirstBank, said: “Everyday transactions should be simple, secure, and rewarding. The Naira Visa Debit Card is designed to make life easier for our customers, whether they are paying for groceries, settling utility bills, or shopping online. By extending reliable electronic payment access across Nigeria, we are helping more people transition confidently from cash to digital payments, supporting the nation’s cashless policy and empowering communities with greater financial inclusion.”
Commenting on the strategic importance of the partnership, Andrew Uaboi, Vice President and Cluster Head, West Africa, Visa, noted: “A strong payments ecosystem is one that works for everyone. The Naira Visa Debit Card extends reliable electronic payment access to everyday Nigerian consumers, and this in addition to the cards in our portfolio continues to demonstrate what a truly comprehensive card portfolio looks like for the Nigerian market. Visa is proud to power this offering with FirstBank.”
The launch of the Naira Visa Debit Card broadens Visa card portfolio at FirstBank that already includes products spanning credit cards and High-end premium lifestyle spending cards. The addition completes its offering across customer segments, ensuring that cardholders at every income level have access to a product suited to their needs.
The Naira Visa Debit Card is available to all eligible FirstBank account holders through any of the bank’s branches nationwide.
