The bank disclosed this in a statement on Wednesday. According to the bank, Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, and strategic management.

The bank further stated that, “Rewane is the managing director at Financial Derivatives Company Limited, a top financial advisory and economic research firm. He is a Fellow of the Nigerian Economic Society and has held leadership roles at International Merchant Bank Nigeria Limited and First National Bank of Chicago.

He graduated from the University of Ibadan with a degree in Economics and is a Fellow of the Chartered Institute of Bankers of Nigeria and an Associate of the Institute of Chartered Bankers of England and Wales.

“Mr. Rewane has served on the boards of blue-chip companies and multinationals, including Guinness Nigeria Plc., British American Tobacco, Henkel Nigeria Limited, Top Feeds Nigeria Limited, and Africa Infrastructure Plus Partners. He was a member of the Presidential Steering Committee for the Resolution of the Global Economic Crisis. He has completed executive management programmes at top business schools, including the Oxford International Capital Markets programme, the Euromoney Institute of Finance, and IMD Lausanne, Switzerland.

“The Board of Directors of First City Monument Bank (FCMB) welcomes Mr. Rewane. The Bank is confident that his expertise in macroeconomics, corporate governance, and strategic management, together with the Bank’s stronger capital base, will strengthen its leadership and help drive the next phase of growth while continuing to deliver value to stakeholders.’’

A newly released Media Intelligence Report by P+ Measurement Services reveals that Ojude Oba 2026 recorded its strongest media performance to date, achieving significant growth across audience reach, media visibility, social engagement, international attention and digital discoverability.

The report analysed media conversations and coverage generated between May 20 and June 5, 2026, across print, online, social media and broadcast platforms, while benchmarking performance against the 2025 edition of the festival.

The findings paint a compelling picture of a cultural institution that is not only preserving heritage but increasingly shaping conversations across modern media ecosystems.

According to the report, total media mentions grew by 56 percent year-on-year, increasing from 18,420 mentions in 2025 to 28,735 mentions in 2026. Audience reach expanded even more dramatically, growing by 75 percent from 124.8 million to 218.6 million people globally.

Social media emerged as the primary engine of visibility, generating over 81,000 public conversations during the monitoring period, representing an 88 percent increase compared to the previous year.

Engagements more than doubled, rising by 115 percent from 3.9 million interactions in 2025 to 8.4 million interactions in 2026.

Perhaps most notable was the improvement in public sentiment

Positive sentiment increased from 60 percent in 2025 to 79 percent in 2026, while negative sentiment declined by half, dropping from 10 percent to just 5 percent.

The overwhelmingly positive perception was driven by conversations around cultural pride, heritage preservation, fashion, equestrian displays, community identity and the enduring legacy of the late Awujale of Ijebuland, Oba Sikiru Adetona.

The report identified the legacy narrative of Oba Sikiru Adetona as the single most influential thematic driver of media coverage throughout the reporting period.

Unlike previous years where conversations focused primarily on spectacle and pageantry, the 2026 edition witnessed a deeper engagement with themes of history, leadership, continuity and cultural preservation, elevating the festival beyond entertainment and positioning it as a significant cultural institution.

International visibility also recorded substantial growth

While Nigeria remained the dominant source of conversations and media coverage, the festival generated measurable attention across the United Kingdom, United States, Canada, France, Germany, South Africa, Ghana, the United Arab Emirates, Kenya and the Netherlands. This expansion contributed to a near doubling of the festival’s global footprint and reflects the growing interest in African cultural experiences among international audiences and diaspora communities.

The report further found that social media accounted for the largest share of total conversations, followed by online news platforms, print publications and broadcast media. Coverage was amplified through extensive reporting by Channels Television, TVC News, OGTV, City People TV, Araba TV and GoldMyneTV, alongside significant digital coverage from leading Nigerian news and entertainment platforms.

Among personalities driving online conversations, Farooq Oreagba once again emerged as the most discussed cultural figure associated with the festival. Other highly visible personalities included Eniola Badmus, Lateef Adedimeji, Rotimi Salami, Jide Awobona and Samuel Banks, whose appearances and social media mentions helped sustain public interest throughout the event period.

Corporate sponsorship continued to play a critical role in the festival’s visibility ecosystem.

Globacom retained its position as the most visible sponsor, followed by Orijin, FCMB, Goldberg, Rite Foods, Maltina, Honeywell Foods, Adron Homes, Maggi, SIFAX Group and Seaman Schnapps. The report notes that brands increasingly view Ojude Oba as a strategic platform for cultural storytelling, community engagement and reputation building.

One of the most significant additions to this year’s report is the application of the AMEC GEO Framework, the newly introduced global measurement model designed to help organizations understand how reputation, content and visibility influence outcomes in AI-driven information environments.

Using the framework’s three core dimensions, Upstream Reputation Signals, Search and Content Readiness, and Downstream AI Outputs, the analysis assessed Ojude Oba’s performance not only in traditional media but also within emerging AI-powered discovery systems.

The assessment found strong performance across earned media authority, cultural relevance, content visibility and reputation consistency. The festival demonstrated growing discoverability within AI-assisted search environments and generated strong indicators for future cultural visibility across generative search platforms.

According to P+ Measurement Services, this represents a fundamental shift in how cultural events should be evaluated.

“Media success is no longer defined solely by coverage volume or impressions,” the report notes. “In an AI-driven information ecosystem, discoverability, authority, narrative consistency and reputation signals increasingly determine whether institutions remain visible, trusted and relevant. Ojude Oba’s performance demonstrates the importance of measuring cultural influence through both traditional media metrics and emerging AI visibility frameworks.”

The report concludes that Ojude Oba has evolved beyond its traditional role as a cultural celebration and now functions as a powerful platform for tourism promotion, economic storytelling, cultural diplomacy, national branding and global heritage engagement.

As governments, tourism agencies, brands and cultural institutions seek new ways to compete for attention in an increasingly fragmented media environment, Ojude Oba offers a compelling case study in how heritage can be transformed into measurable influence, sustained visibility and long-term reputation value.

With record audience reach, stronger public sentiment, expanded international visibility and growing AI discoverability, the 2026 edition marks a defining moment in the festival’s evolution from cultural event to global cultural brand.

The blended finance platform is aimed at mobilising large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria.

The project aims to raise $188 million (approximately ₦257.6 billion) to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.

The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.

Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.

Speaking at the launch, the managing partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.

“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.

Also speaking, Senior Partner, Barton Heyman, Anthony Feyitimi, said:

“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy.

“Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete. We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility.

“The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”

In his remarks, the managing Director of the REA, Abba Aliyu, said the initiative directly addresses one of the sector’s most pressing constraints, access to finance.

“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.

Dr Abba Aliyu further explained that the GFIF was pioneered by the REA as a long-term institutional framework designed to replace the fragmented, project-by-project financing models of the past with a scalable and sustainable funding ecosystem.

By establishing this formal financial architecture, the agency aims to provide developers with more reliable access to capital, accelerating the nation’s drive toward universal energy access.

Speaking on behalf of FCMB, George Ogbonnaya, senior vice president and divisional head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.

“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed N100 billion in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers. We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.

He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.

Derek Chime, chief investment officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.

Simon Field, deputy head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.

Titilayo Oshodi, special adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.

Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.

The initiative is backed by a robust public-private partnership. While the REA anchors the project pipeline and results-based financing mechanisms, Barton Heyman leads the blended finance structuring.

The appointment, whic​h has received approval from the Central Bank of Nigeria, comes at a critical period for the financial services group as it deepens its market presence and expands operations across Nigeria’s evolving financial ecosystem.

According to a statement by the Group, Adebajo brings more than three decades of cross-sector leadership experience spanning finance, agriculture, renewable energy, and consulting. Her appointment is expected to reinforce FCMB Group’s drive towards operational excellence, innovation, and sustainable growth.

The Board noted that her expertise in business transformation, corporate strategy, and Environmental, Social and Governance (ESG) implementation aligns with the institution’s long-term vision of building a resilient and future-ready financial services group.

Adebajo has held top executive positions in several leading organisations, including leadership roles at Lafarge Africa, Lumos Nigeria, and Mouka Limited.

She also previously served as Commissioner for Agriculture in Ogun State, where she championed initiatives aimed at improving agricultural productivity and investment.

Her academic credentials include executive education from Harvard Business School and Imperial College London, underscoring her extensive corporate and governance experience.

The latest appointment further signals FCMB Group’s ongoing efforts to reposition itself for the next phase of growth, following recent moves by Nigerian banks to strengthen capital structures and corporate governance frameworks amid regulatory reforms in the banking sector.

Both companies signed a Memorandum of Understanding on Friday, April 17, 2026, at Credit Direct’s headquarters in Lagos. 

The agreement allows customers to pay 20% of a vivo smartphone’s price upfront, then spread the remaining balance over six months. Credit Direct will provide the financing.

The two firms say the plan targets a long-standing issue in the Nigerian market, where people want smartphones, but many cannot afford to pay in full at once.

Nigeria has about 120 million smartphone users. Still, a large share of the population lacks access to a device. With more than 40% of Nigerians still not using smartphones, the cost is the limitation.

Under the partnership, customers will also be able to access vivo devices through more than 600 retail stores across 25 states. Both companies are targeting sales of over 200,000 devices in the first year.

Credit Direct, a subsidiary of FCMB Group Plc, said the arrangement fits into its consumer lending model, which focuses on extending credit to people outside traditional banking systems.

The company’s managing director and chief executive, Chukwuma Nwanze, said the partnership brings together financing and mobile technology in a practical way.

“Nigeria has millions of smartphone users, but the gap between those who are connected and those who are not remains wide, and the primary reason for that gap is access to capital. This partnership addresses that directly,” he said.

“vivo has built a strong mobile product over the years, and Credit Direct has been providing financing to people who have been shut out of the formal financial system for years. What this partnership does is bring those two realities together. People who need smartphones but cannot afford to buy one outright can now do so through a payment plan that does not strain their monthly income.”

He further stated that the mission has always been to make financial solutions a universal opportunity, and this is exactly what this looks like. “I am genuinely excited about what we can achieve together.” Chukwuma Nwanze, MD/CEO, Credit Direct said.

vivo Nigeria said the agreement strengthens its goal to expand access in a highly competitive market.

“We chose Credit Direct because they are the clear leaders in consumer financing in Nigeria, and they operate with a level of professionalism that gave us confidence. Instalment-based device purchasing was something we had explored before, but it did not come together at the time. 

“With Credit Direct’s backing and infrastructure, we are confident this will be different. This is a partnership we believe in.” Toni Liu, CEO, vivo Nigeria.

Nigeria’s smartphone financing space has been growing as device prices become more expensive for many buyers. Similar models have appeared across the industry, including initiatives linked to Transsion brands such as Tecno and Infinix, as well as Samsung Nigeria, which works with financial institutions to offer instalment payments.

Analysts say these financing options are becoming more important as mobile internet use expands. Nigeria’s digital economy was valued at about $18 billion in 2025, and access to affordable devices is seen as paramount to further growth in e-commerce, fintech, and online services.

Market observers also expect instalment-based purchases to bring millions of new users into the smartphone ecosystem over the next few years, as companies compete to reduce the upfront cost barrier.

The funding, delivered under the Easylift programme, comprises N500 million from the state government and N1 billion deployed through the initiative in collaboration with FCMB and the Mastercard Foundation.

The agripreneurship drive is part of the Youth Entrepreneurship in Agribusiness Project (YEAP) and the Sustainable Actions for Economic Recovery (SAfER) programme.

Speaking at the disbursement event held at the Fasola Agribusiness Industrial Hub, Governor Seyi Makinde said the initiative is aimed at building sustainable economic capacity.

He said the programme is designed to strengthen systems that link training, enterprise development and access to finance, rather than provide one-off financial support.

The director general of the Oyo State Agribusiness Development Agency, Debo Akande, said over 5,000 young people have been trained under the initiative so far.

He added that beneficiaries in the current phase received about N1.5 million each as initial funding, with opportunities to access up to N50 million based on business performance.

Yemisi Edun, the managing director and chief executive officer of FCMB, said the partnership underscores the bank’s commitment to agriculture as a key driver of economic growth.

She noted that collaboration with public and development partners enables the provision of financing alongside technical support required for business expansion.

The YEAP and SAfER programmes are part of the state government’s broader strategy to reduce unemployment and strengthen food systems through youth participation.

As commerce increasingly transcends national borders, the demand for seamless, reliable cross-border transactions has intensified.

In response, Verve has launched a deliberate continental expansion under its Destination Campaign, positioning itself not merely as a domestic card scheme, but as a pan-African payments enabler.

With over 100 million cards issued, Verve has achieved significant scale within domestic markets. The next phase focuses on enhancing interoperability across African corridors, with East Africa, particularly Kenya and Uganda, serving as the primary testing ground for this African Expansion Drive.

Vincent Ogbunude, managing director of Verve International, emphasized the strategic importance of African-owned payment infrastructure in facilitating cross-border commerce and reinforcing economic resilience:

“Africa’s economic potential depends on payments infrastructure that is designed for its unique realities. Verve’s expansion into East Africa goes beyond issuing cards, it is about creating a network of payment infrastructure that is secure, reliable, and purpose-built for the continent. By enabling entrepreneurs, SMEs, corporates, and everyday travellers to transact seamlessly across borders, we are ensuring that value remains within African markets, fostering economic integration, and demonstrating that Africa can build world-class financial systems from within.”

The choice of East Africa is highly strategic. The region’s mature digital banking ecosystem, robust regulatory frameworks, and vibrant commercial networks provide an ideal environment to validate cross-border acceptance and infrastructure integration.

Verve’s expansion model leverages a hybrid advantage, combining the reliability and local alignment of a domestic scheme with growing cross-border capabilities.

This approach allows African markets to transact regionally without excessive reliance on external settlement systems.

Significant progress has already been achieved. Key issuing partners, including FCMB, Union Bank, Jaiz Bank, Taj Bank, and Access Bank, have enabled cardholders to use Verve cards confidently beyond Nigeria.

On the acquiring side, partnerships with KCB, Equity Bank and others are embedding acceptance across East Africa’s merchant ecosystem, strengthening the practical infrastructure required for seamless regional payments.

Cherry Eromosele, executive vice president, group marketing and Corporate Communications at Interswitch Group, highlighted the tangible benefits this expansion brings to consumers, businesses, and regional trade:

“Our vision is to contextualise payments for African realities. By extending Verve’s trusted domestic infrastructure into East Africa, we are enabling consumers and businesses to transact across borders with the same convenience and security they enjoy at home. This expansion is not simply about issuing cards; it is about facilitating transactions and exchange of value, supporting regional commerce, and strengthening financial connectivity across the continent.”

Significantly, Verve has extended its reach beyond financial institutions to secure real-world merchant acceptance. Cardholders can now transact seamlessly at Kenya Commercial Bank ATMs and POS, prominent lifestyle and hospitality destinations, including The Carnivore Restaurant, Tamarind Hotels, Tamarind Dhow, Roast by Carnivore, Kengeles, and Social House.

These channels and venues serve as strategic touchpoints within the continent’s business and tourism ecosystems.

By ensuring acceptance in high-traffic, high-visibility locations, Verve transforms payment infrastructure into a seamless, lived experience.

This expansion is not about scale for its own sake, it is about relevance, adaptability, and reinforcing Africa’s internal economic connectivity.

As trade corridors deepen and mobility across the continent grows, interoperable payments are becoming indispensable infrastructure.

Through its East Africa rollout, Verve demonstrates that Africa’s financial future can be powered by solutions designed and built from within for African realities and scaled to meet continental ambitions.

According to financial results filed with the Nigerian Exchange Group (NGX), the group reported gross revenue of N828.1 billion, a 40.9% increase from N587.7 billion in the previous year. This growth was driven by a 64.7% rise in interest income.

The company’s Non-interest income declined by 33.8% in Q3 2025, as a result of a N54.6 billion Year-on-Year decline in the nation’s currency revaluation.

FCMB’s Net interest income advanced by 101.9% to close at N350.8 billion for the period ended, from the N173.8 billion declared in the preceding year. The yield on earning assets appreciated to 21% Year-on-Year, leading to a growth in Net Interest Margin to 10.1% for 9M 2025 from 6.3% announced as at in Full-Year 2024.

The corporation’s operating expenses rose by 41.3% to close at N238.9 billion on a Year-on-Year basis. This is as a result of cost growth due to increased personnel costs, regulatory operating costs (AMCON, NDIC), technological costs, and the expenditures due to the group’s business expansions. The cost-to-income ratio declined to 55.5% from the 59.99% recorded previously.

The Net impairment loss on financial assets appreciated by 28.6% to N57.1 billion as the group’s subsidiary exited the CBN loan forbearance, which led to a growth in cost of risk to 2.8% from 1.8% declared for Full-Year 2024.

The Profit-before-tax advanced by 46% to close at N134.5 billion, while the Profit-after-tax rose by 52% to N125.4 billion. This led to a strong uplift in the Return-on-Average-Equity of the company from 12.7% to 22.5% on a Year-on-Year basis. The Equity-per-Share was up from N2.46 to N3.91 from Full-Year 2024 to September 2025.

FCMB divisions declared a Profit-before-tax growth of: Consumer Finance (78.5%), Banking Group (68.8%), Investment Management (27.6%), and Investment Banking (-34.6%).

The Profit-before-Tax contributions of the Group’s divisions are Banking Group (83.2%), Consumer Finance (11.6%), Investment Management (4.6%), and Investment Banking (1.3%).

The Total assets advanced by 2.5% to close at N7.23 trillion, up from N7.05 trillion at the end of December 2024. The loans and advances decreased by 2.9% to N2.29 trillion in Q3 2025. This was as a result of currency revaluation, loan write-offs, and concentrated paydowns. The Non-Performing-Loans closed at N5.2% and Capital Adequacy at 17.8%.

FCMB deposits appreciated by 2.3% to close at N4.40 trillion, up from N4.30 trillion. The low-cost deposits rose by 17.6% to close at N435.7 billion, while the Term Deposits decreased by 18.4% to close at N336.4 billion.

The Assets-under-Management rose by 15.9% to close at N1.59 trillion, up from N1.37 trillion declared in Full-Year 2024.

Meanwhile, the lender has announced that it has successfully concluded its public offer and is positioned to deliver the N500 billion capital target, subject to its shareholders’ approval ahead of the Central Bank of Nigeria (CBN) recapitalisation for commercial Banks operating offshore, ahead of the March 2026 deadline.

According to the lender, the CBN is currently verifying its records to ensure full compliance with the regulatory guidelines. The CBN had previously announced that 16 Banks had met the recapitalisation requirements.

FCMB is a leading financial services provider headquartered in Lagos, Nigeria. The Group operates along four business groups: The Banking Group (FCMB), FCMB (UK) Limited and FCMB Microfinance Bank Limited, Consumer Finance (Credit Direct Limited), Investment Banking (FCMB Capital Markets and CSL Stockbrokers Limited), and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited, and FCMB Trustees Limited).

The company is listed on the Nigerian Exchange Group with the ticker symbol of “FCMB”. The lender has over 13 million customers, with 205 Bank branches across Nigeria.

So far, 12 customers have won the top prize of ₦1 million each, while 3,004 others have received different cash rewards.

The winners were selected through electronic draws held between January and June, ensuring broad participation. The promo is open to new and existing savings account holders and ends in September.

During the fifth draw held on June 17, four additional customers won the star prize of ₦1 million each, with 112 others also receiving cash prizes.

The latest millionaires include Ranti Badmos from Lagos, Wilson Onoezikome in Kaduna, Esther Obafemi in Ijebu-Ode, Ogun State, and Israel Oruma in Asaba, Delta State.

Israel Oruma, a timber merchant, expressed his delight at winning, saying the prize would significantly support his business.

“This is a pleasant surprise. I have been facing financial challenges recently. The ₦1 million will go a long way in assisting me. I’m investing it in my business and will encourage all my staff, family, and friends to open an account with the Bank. Thank you, FCMB.”

Adetunji Lamidi, Divisional Head of Personal Banking at FCMB, said the Millionaire Promo reflects the bank’s broader mission to enable financial security and opportunity for everyday Nigerians.

“At a time when many are facing economic pressure, savings-driven initiatives like this shift the focus from getting by to making progress. It gives people a reason to save, rewards loyalty, and shows that banking helps create real-life impact.”

Speaking on the integrity of the selection process, Oyinkan Kusamotu, principal legal officer at the Lagos State Lottery and Gaming Authority, stated: “It’s great to witness FCMB’s commitment to compliance, fairness, and transparency throughout the draw process, which builds trust with customers and stakeholders.”

To qualify for Season 10 of the FCMB Millionaire Promo, customers must increase their account balance by at least ₦10,000 and maintain it for 30 days to enter the monthly and seasonal draws.

Each additional ₦10,000 saved increases the customer’s chances of winning. Dormant or inactive account holders can also participate by reactivating their accounts. Draws are held nationwide, giving everyone a fair opportunity to win.

At the close of trading on Monday, the All-share Index and Market Capitalization had dropped by 0.17% basis profit.

Notably, the All-share Index declined by 191.30 basis profit, from 115,529.54 points in the previous trading session, to close at 115,238.24 on Monday.

At the same time, the market capitalization dropped to N72.67 trillion down from the prior close of N72.79 trillion.

The decline was largely driven by sell-off and profit-taking in some large and medium-cap stocks across major sectors, particularly within the banking sector, which lost 3.98%. Some of the notable decliners include ACCESSCORP, NNFM, and FCMB, amongst others.

For the top performers, GUINEAINS led the chart with a 10 percent increase closing at N0.77, followed by ELLAHLAKES which rose by 9.93 percent to N4.79 per share, others include LEGENDINT which rose by 9.87% to N7.79 per share, ROYALEX grew by 9.68% to N1.02 per share, and FISON increased by 9.64% to N42.10 per share.

The top decliners for the day were led by NNFM which lost 10 percent to close at N101.30 per share, followed by CILEASING which shed 9.68 percent and depreciated to  4.20 per share, UPL lost 9.27 percent and closed at N4.99 per share, DEAPCAP lost 8.99 percent, fell to 0.81 per share, and LEARNAFRCA 8.43 percent to close at N3.80 per share.

The total value of trades was up by 5.75 percent, while the Total volume dropped by 33.72 percent. The banking sector equities experienced lots of market activities as top values with the highest trading volume were majorly from the banking sector. Leading the top trades by volume chart was ACCESSCORP which accounted for 12.86 percent of total trades.

ZENITHBANK led as the most traded stock in terms of value, accounting for 16.16 percent of the total value trades.

The Central Bank of Nigeria recently issued forbearance directives to banks, suspending dividend payouts, director bonuses, and new foreign investment aimed at strengthening the sector, leading to panic selling of banking stocks in the market in a profit-taking move.