System liquidity opened today at a surplus of ₦5.21 trillion, reflecting a decline of ₦461.94 billion compared with the previous session. The moderation in liquidity was primarily driven by the settlement of ₦235.60 billion from the prior session’s OMO auction.
The FY 2025 dividend season for NGX-listed companies reflects a broad-based earnings recovery set against a
materially improved macroeconomic backdrop: moderating inflation, a more stable Naira, record external reserves, and
critically the CBN’s first benchmark interest rate cut in the current cycle. Nineteen companies across nine sectors have
declared, or are expected to declare, dividends for the financial year ended December 31, 2025, several of which represent
historic payout milestones.
February 2026 delivered the NGX’s strongest monthly gain since the 35.28% rally of January 2024, with the All-Share Index surging
+16.60% to close at 192,826.77 pts. Market capitalisation rose from ₦106.15T to ₦123.76T creating over ₦17.6 trillion in investor
wealth. A total of 85 equities gained versus only 34 decliners, reflecting overwhelmingly positive market breadth driven by strong FY2025
earnings, naira stabilisation at ~₦1,390/$, CBN reserves at a 13-year high of $49 billion, and the CBN’s April 2026 banking recapitalisation
deadline.
Plot 3 Peter Obang Close, Off O. P. Fingesi Street, Utako District, Abuja
15 Oladimeji Alo Street, Lekki Phase 1 – Lagos
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