NGX Midweek: Market Holds Weekly Gain as Access Bank’s CBN FX Penalties Draw Attention
The NGX All-Share Index closed Wednesday at 251,861.24, down 0.18% for the day but still up 1.20% from Friday’s close of 248,877.22. Monday’s 1.44% rise kept the week in positive territory, despite losses on Tuesday and Wednesday. Market capitalisation stood at ₦163.53 trillion, with ₦22.83 billion traded across 418.3 million shares in 30,908 deals. Twenty-five stocks rose, 33 fell and 88 were unchanged. UPL, Caverton, Abbey Bank, Champion Breweries and ETI led the gainers. Okomu Oil, Enamelware, NASCON, FTN Cocoa and VFD Group recorded the biggest declines. Access Holdings fell 1.63% to ₦27.10. Its half-year results, released on 2 November, disclosed that Access Bank paid ₦557 million in 12 CBN penalties during the first half of 2026, mostly related to foreign exchange breaches. The results also noted that the CBN described some net open position returns as containing “fictitious forward transactions.” My take: the penalties are small compared with Access Bank’s ₦266.72 billion half-year profit, so the financial impact looks limited. The regulator’s wording is the bigger concern. With CBN examinations reaching back to 2023, I wouldn’t assume this is the last development.
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