Proshare has opened the survey for the 12th edition of its Online Trading Report, themed “Nigeria’s Capital Market Reforms in a World of Shocks.” The study will examine how regulatory reforms, digital innovation, changing investor behaviour and emerging risks are reshaping Nigeria’s online investment ecosystem. The report will assess developments across the NGX, NASD OTC market, AFEX, LCFE, and FMDQ, with a focus on market access, efficiency, transparency, investor participation, and digital resilience. Capital Market Operators, financial services firms, fintech stakeholders, platform users and retail investors are invited to participate in the 8–10-minute survey. The survey runs from October 19 to October 30, 2026, with the report scheduled for release in the second week of November. #OnlineTrading

.@dacurateinsight Announces Fourth Secondary School Leadership Debate, Themed “Leadership and Innovation,” with N1.5 Million in Prizes proshare.co/articles/dacurat…

First Holdco Plc Declares N744.45bn PAT in Q3 2026 Unaudited Results; (SP: N135) Key Highlights in Q3 2026 • Interest Income declined by 8.69% to N2.09trn from N2.29trn • Profit before tax stood at N911.24bn • Profit after tax stood at N744.45bn • Share Price currently stands at N135 proshare.co/articles/first-h…

Stanbic IBTC Sets N159.86 Reference Price for 2026 Interim Scrip Dividend proshare.co/articles/stanbic…

Unilever Nigeria Sustains Growth in Q3 2026, Delivers N184bn Revenue and Declares Interim Dividend proshare.co/articles/unileve…

CBN Approves JPMorgan’s Proposed Entry into Nigeria’s Merchant Banking Sector proshare.co/articles/cbn-app…

.@GroupEcobank Cancels October 26 Ordinary General Meeting for Stakeholder Consultations proshare.co/articles/ecobank…

Brent crude traded around US$117 per barrel in the week to 23 October 2026, a weekly gain of about 4%, which Tom Kool of @OilandEnergy associates with the escalating conflict between Saudi Arabia and the Houthis. Kool also records that crude market fundamentals changed little over the week, and that a slight fall in freight rates and a widespread flattening of backwardated curves lowered differentials across most grades, offsetting part of the pressure from higher benchmarks. Supply incidents account for most of the week’s reporting. Saudi Aramco ordered staff to evacuate its Dhahran headquarters and work from home after a Houthi attack, the first such step since the Iran war began, and drone strikes killed two people at the Shaybah oilfield. In Libya, the National Oil Corporation reported that unauthorised individuals shut a pipeline valve serving the Hamada and Tahara fields, removing 50,000 and 40,000 barrels per day respectively from a crude stream that provides 90% of state revenue. The United States Energy Department is offering 315,000 barrels of diesel, one third of its Northeast reserve, as global diesel exports decline, and the first diesel cargo under Washington’s agreement with Moscow has left the Baltic port of Primorsk for New York, with delivery expected on 7 November. Gas prices moved in opposite directions on the two sides of the Atlantic. Europe’s TTF benchmark rose above €93 per MWh, its highest level since December 2022, which the report links to restricted Qatari LNG supply, colder weather and storage that peaked below 75%. US Henry Hub futures fell to US$2.66 per MMBtu, the lowest in two months, with the report citing mild weather, recovering offshore supply and above average inventories, while calendar 2027 futures fell to a five year low of US$3.09 per MMBtu. Brent near US$117 per barrel trades well above the oil price benchmark adopted in Nigeria’s 2026 budget process. At that level, Nigerian crude exports earn more per barrel and imported refined products cost more to land. The fiscal result turns on production volumes, which the Nigerian Upstream Petroleum Regulatory Commission publishes monthly. In the coming week, Proshare will track whether Brent moves toward US$120 per barrel, statements from OPEC+ and Saudi Aramco, the security of Saudi oil facilities, diesel inventories and any further reserve releases, and Nigeria’s monthly production data against its budget assumptions. proshare.co/articles/us120-o…

Alhaji (Dr.) Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group (@ngxgrp), chaired the 2026 Lead the Future Conference, which opened on 23 October 2026 at the Oriental Hotel, Victoria Island, Lagos. In his welcome address, Kwairanga argues that technology has bound the world into a tighter unit, a trend he expects to persist despite a resurgence of nationalism in many parts of the world. Where business is conducted online at speed, he contends, borders alone will no longer confer advantage, and African enterprises must use modern technology to scale. He describes an NGX that measures itself against global standards, keeps to the cutting edge of technology and holds its quoted companies and trading licence holders to the same bar through its listing standards, rules and regulations. He links the conference agenda on people management, artificial intelligence and business innovation to the quality of governance and management in Nigerian organisations, and urges participants to apply what they learn. Kwairanga closes by describing Africa, with its youthful population and abundant resources, as the potential economic driver of the twenty-first century, provided its enterprises remain focused, innovative and able to harness those advantages. proshare.co/articles/buildin…

Nigeria’s equities market rebounded on Friday, 23 October 2026, ending two consecutive sessions of decline as the @ngxgrp All-Share Index gained 0.92% to close at 247,222.27 points. Market capitalisation increased by N1.47trn to about N160.51trn, and the year-to-date return improved to 58.87%. The 2,265.33-point gain was about 2.4 times the 954.19 points lost over the previous two sessions, and the benchmark closed 2.14% below its 28 September close of 252,635.11 points, by Proshare’s computation. Market breadth remained negative, with 25 decliners against 23 gainers. @DangoteCement (+10.00%) led the gains and lifted the NGX Industrial Index 3.68%, while FIRSTHOLDCO (+10.00%), @fidelitybankplc (+9.09%) and @wemabank (+3.45%) pulled the Banking Index up 2.57%, so the rebound came from buying in DANGCEM and the banks rather than across the market. Trading activity rose sharply in volume and more modestly in value. Volume increased 69.56% to 611.68 million shares, value traded rose 13.88% to N23.14bn, and deals rose 6.96% to 33,585, by Proshare’s computation. @aradelholdings recorded the highest value at N4.20bn, or 18.16% of the total, followed by @StanbicIBTC and DANGCEM. No single trade dominated value, and the average value per share traded fell to about N37.83 from N56.33 on Thursday, by Proshare’s computation, so the rise in volume came mainly from lower-priced stocks. In the foreign exchange market, the naira depreciated by 1.28% to N1,361.84/US$ at the #NFEM window, while the average #BDC rate depreciated by 0.36% to N1,375/US$ from N1,370/US$. The spread between the two markets narrowed to 0.97% from 1.90%, by Proshare’s computation. Brent crude rose 2.52% to US$116.02 per barrel, touching its highest level since early May, after Houthi attacks in Saudi Arabia raised concerns about further disruption to Middle East supplies, while gold fell 1.34% to US$3,990.47 per ounce. The Oil and Gas Index fell 2.51% despite Brent's rise. First Holdco, Stanbic IBTC Holdings, @Unilever Nigeria and @Transcorppower_ filed their third-quarter 2026 financial statements on Friday, while May and Baker, @CBPlc_ and @Japaul_Group filed board meeting notices. Proshare will track whether buying in the heavily weighted banking and industrial stocks holds, the Oil and Gas Index against Brent crude, further third-quarter filings and the BDC–NFEM spread in subsequent sessions. Read more: proshare.co/articles/ngxasi-…

.@Transcorppower_ Declares N56.50bn Profit After Tax in Q3 2026 Unaudited Results proshare.co/articles/transco…

Takaful’s growth opportunity in Nigeria is significant, but wider adoption will depend on whether the industry can close the gap between awareness and trust. Rahma Say Muhammed examines the factors shaping Takaful penetration in Nigeria, drawing on public perceptions and insights from Ambassador Shuaibu Ahmad, Chairman of @NoortakafulNG. proshare.co/articles/integra…

What would make online trading in Nigeria work better for you? Better access? More reliable platforms? Greater transparency? Share your perspective in Proshare’s 2026 Online Trading Survey. Your feedback will inform the 12th edition of our Online Trading Report and help identify the challenges and opportunities facing investors and market operators. 👉 Platform Users and Retail Investors, take the Survey: surveymonkey.com/r/OTRUser20… Tell us what needs to change. Participate today. #OnlineTrading

Scale can expand opportunity, but durable value depends on the institutions built around that growth. Speaking at the Stanford Seed G3 2026 Conference, Innocent C. Ike, Group Managing Director/CEO of @theaccesscorp, argued that global expansion should be judged not by geographic footprint alone, but by the quality of governance, capital allocation, risk management and leadership depth supporting it. Cc: @myaccessbank proshare.co/articles/scale-c…

This week’s African snapshot reports several large capital commitments to African markets. @jpmorgan Chase placed N50bn (US$38m) with the @cenbank, matching the CBN’s minimum capital threshold for a national merchant banking licence, and is targeting approval by the end of 2026 or early 2027. Deutsche Bank added Nigeria to its frontier foreign exchange monitor and described the naira as undervalued after it appreciated nearly 8.0% this year. The bank forecasts a current account surplus of US$24.1bn for the year. The Ethiopian Investment Commission reported foreign direct investment of US$1.43bn in the first quarter of the 2026/27 fiscal year, 49% higher year on year and 59% above its US$900m target, although it has not disclosed a breakdown by sector or source country. @SPGlobalRatings revised Togo’s outlook to positive and affirmed its B+/B ratings, and it expects budget deficits to decline toward 3% of GDP from 2027. Several governments also moved to extend state control over natural resources and strategic assets. President John Mahama announced that Ghana will ban exports of unprocessed minerals, including bauxite, manganese, iron and lithium, by 2030. Mozambique’s Ministry of Mineral Resources and Energy signed 12 memoranda of understanding worth US$4.2bn for mineral processing in Nacala. Niger banned gasoline and diesel exports under an order signed on October 12. Its refinery delivers about 1.6 million litres of fuel a day, against estimated gasoline demand of 2.5 million litres. Mali is considering suspending live livestock exports, which average US$157.8m a year, after the national average price of bone-in meat rose 9.1% between the end of April and early October. Burkina Faso adopted a law on October 19 that prohibits the full or partial privatisation of strategic state enterprises. Fiscal positions varied widely across the continent. Senegal’s public debt has been reassessed at about 130% of GDP. A proposed US$2.2bn @IMFNews programme depends on the outcome of its debt restructuring, which US Treasury Undersecretary Erin Browne said Washington wants completed within 12 months. In Kenya, President @WilliamsRuto signalled cuts to income tax, stamp duty and the import duty on phones in the same period that the Kenya Revenue Authority reported a KSh58.2bn revenue shortfall for the first quarter. Egypt’s trade deficit widened 47.7% to US$48.1bn in the first eight months of 2026, while its balance of payments recorded a US$2.8bn surplus in FY2025/26. Deutsche Bank identifies fiscal pressure ahead of Nigeria’s 2027 general elections as the main risk to its naira outlook, and it projects the deficit to widen to about 5.3% of GDP from 3.2% in 2024. In South Africa, Finance Minister Enoch Godongwana announced R10bn of temporary fuel levy relief. He also revised the consolidated deficit projection down to 3.9% of GDP and reported revenue R54.1bn above estimate, and the 2035 government bond yield fell 16 basis points to 8.575%. Official data on output and trade were mixed. Kenya’s economy grew 5.1% in the second quarter of 2026, the fastest second-quarter pace since 2023, and South Africa’s consumer inflation rose to 4.5% in September. Zimbabwe’s merchandise exports rose 60.7% to US$9.04bn in the first eight months of the year, and gold and nickel matte together accounted for US$5.33bn, or about 59% of the total, within a trade surplus of US$591.5m. The value of Ghana’s gold reserves rose 475.9% over three years to US$3.65bn, while physical holdings stood at 24.4 tonnes. Proshare will track the CBN’s decision on JPMorgan’s merchant banking licence, the work of Senegal’s creditor committees, and the measures the Kenyan Treasury adopts to offset the proposed tax relief. It will also monitor the conversion of Mozambique’s memoranda into bankable projects, as President Daniel Chapo has called for, and Nigeria’s fiscal deficit through the 2027 election cycle. The joint working groups agreed by @ecowas_cedeao and the Confederation of Sahel States in Dakar on October 17 will report to ministers before their next session, for which no date or venue has yet been set. Read more: proshare.co/articles/weekly-…