Seplat Energy Plc emerged as the top performer on the Nigerian Exchange Limited (NGX) on Wednesday, helping to lift the equities market to its first positive close of the week. This rebound followed a period of investor caution sparked by a recent directive from the Central Bank of Nigeria (CBN) targeting the banking sector.
By the close of trading, investors had recorded gains totalling approximately N1.184 trillion, marking the market’s most significant daily advance since the CBN’s policy intervention began weighing on sentiment toward banking stocks.
The CBN’s circular, issued on June 13, 2025, instructed banks to temporarily halt dividend payouts to shareholders, postpone bonuses for directors and senior management, and suspend investments in foreign subsidiaries or the launch of new offshore ventures. The move triggered two consecutive days of market decline as investors reacted to the regulatory shift.
However, Wednesday’s session saw a shift in momentum as several non-bank stocks drove the market upward. Seplat Energy, Beta Glass, and NEM Insurance were among the leading gainers.
NEM Insurance climbed from N15 to N16.50, gaining N1.50 or 10 percent. Beta Glass advanced from N228.15 to N250.95, adding N22.80 or 9.99 percent. Seplat rose from an opening price of N4,964.40 to N5,450, up by N485.60 or 9.78 percent.
The All Share Index (ASI) increased from 114,910.16 points to 116,786.87 points, while market capitalisation jumped from N72.497 trillion to N73.681 trillion.
Market analysts and industry stakeholders have been weighing in on the broader implications of the CBN’s directive, particularly its impact on banking sector valuations and investor confidence.
Meanwhile, trading activity remained robust. Zenith Bank, Access Holdings, UBA, Nigerian Breweries, and Fidelity Bank were among the most actively traded stocks. A total of 640,082,716 shares valued at N26.011 billion were exchanged in 19,727 transactions.
