Nigerian investors
Stock market recovers as investors record N425bn profit
The Nigerian stock market ended the week on a bullish note, as investors recovered from three consecutive days of losses with a ₦425 billion gain on Friday, August 22, 2025. The rally marked a significant comeback for traders on the Nigerian Exchange Limited (NGX), reflecting renewed investor confidence across key equities. According to official market […]
NGX market cap drops N663bn amid bearish trading
The Nigerian Exchange (NGX) experienced a continued bearish trend on Wednesday as investors lost approximately N663 billion in market value, underscoring heightened volatility in the equities market. Analysts attributed the decline to profit-taking following the market rally witnessed in the preceding months, as well as broader economic uncertainties. At the close of trading, the NGX […]
SEC Cautions Against Investing in Punisher Coin Over Fraud Concerns
The Securities and Exchange Commission (SEC) has sounded the alarm over the ongoing presale of a cryptocurrency called Punisher Coin, also known by its ticker symbol $PUN, warning Nigerian investors of significant risks due to the absence of regulatory approval. The SEC’s public notice, released on Sunday, explicitly stated that neither Punisher Coin nor its […]
EFCC Cracks CBEX: Cash Recovered, Arrests Made
The Economic and Financial Crimes Commission (EFCC) has confirmed significant progress in its investigation into the collapsed cryptocurrency investment platform, CryptoBank Exchange (CBEX), which defrauded thousands of Nigerians of an estimated ₦1.3 trillion. Speaking in an interview on Television Continental (TVC), EFCC Chairman Ola Olukoyede revealed that the anti-graft agency has made “reasonable arrests” and […]
Court Orders Forfeiture of N6.6bn Shares Linked to Ponzi Scheme
In a significant legal development, a Federal High Court in Lagos has ordered the final forfeiture of 2,041,087,747 units of shares in Livingtrust Mortgage Bank Plc, formerly known as Omoluabi Mortgage Bank Plc, worth approximately N6.67 billion. This decision marks a major victory for the Economic and Financial Crimes Commission (EFCC) in its ongoing efforts […]