₦airaland Forum

Access Holdings gets NGX's extension for H1 audited results filing

*Key Points:*

1. *Extension Granted:* NGX granted Access Holdings Plc a further extension to publish its audited H1 2026 financial statements.

2. *Reason:* Delay linked to outstanding regulatory approval from Central Bank of Nigeria (CBN). The extension does not specify a new publication date.

3. *Company Statement:*
> "As the Company awaits completion of the regulatory approval process, NGX has granted a further extension to the Company to publish the Results promptly upon receipt of the requisite approval."

4. *Second Delay:* This is the second extension for H1 2026. First extension was granted in August to September 30, after Board approved results on Aug 27.

5. *History of Delays:*
- H1 2025: Extension to Oct 22, 2025 awaiting CBN approval
- FY2025: Delay in April 2026 despite SEC approval; also reason for no FY2025 dividend due to regulatory compliance.

6. *Q1 2026 Performance (for context):*
- PBT: N272.21bn (+22.19% YoY)
- PAT: N216.54bn (+18.49%)
- Non-interest income: N444.68bn (+19.03%)
- Net interest income: N383.71bn (-26.68%)
- Impairment charges: N73.81bn (+239.04%)
- Opex: N411.27bn (+26.16%)

7. *FY2025:* PBT N1.01trn (+16.2%), Total Assets N51.56trn.

Multi-Trex Plc FYE April 2025 is a *balance sheet rescue, not a business recovery.*

Here is what it really means:

*1. Operations are dead*
- Turnover: *N47.9m vs N1.2bn = -96%*
Factory was essentially shut for most of the year. They weren't producing.

*2. But they finally killed AMCON*
- *N9.9bn AMCON debt - repaid in full* as at April 30, 2025.
- That debt has hung since 2010. This un-encumbers the factory assets in Ogun State.
- Effect: Total Assets down only 4% to *N15.93bn*, but Equity *up 39% to N9.98bn* — because the liability was written off or repaid via asset restructuring.

*3. Why N423.2m loss after profit of N510.9m?*
You can't drop revenue 96% and drop costs 96%. You still pay:
- Depreciation on that N15bn asset base
- Staff retention, security, audit fees
- Interest before payoff
= Fixed cost absorption → loss.

*Going Concern Verdict: Technically alive, commercially fragile.*

Going concern only works if:

- *N-Foods Universal Concept deal* actually brings working capital + raw cocoa + export offtake to restart the lines. Without it, N15.93bn of plant = scrap value.
- They can fund fresh beans. Cocoa prices in 2024/25 hit $10k+ per ton — worst time to restart with no cash.

*Ratios from the numbers:*

- *Asset Turnover = 0.003x* (47.9m / 15.93bn) — catastrophic underutilization
- *Solvency: D/E now ∼0.6x* (approx, down from >2x) — very strong on paper post-AMCON
- *Liquidity: Weak* — most assets are factory PPE, not cash. Needs N-Foods injection.

*Bottom line for investors:*
Multi-Trex is now a *clean shell with a factory*. It has solved its 10-year debt problem but has not yet solved its business problem. Don't buy for earnings — buy only if you believe N-Foods will restart operations and cocoa margins normalize.

PZ is back to dividend after 4 years — and this time with an option.

For FYE 31st May 2026 (audited: PAT *N45.17bn*, +349% YoY):

- *Dividend: N2.50 per 50k share* — about N9.93bn total payout
- *AGM: Oct 28, 2026* - Abuja (needs approval first)
- *Qualification Date: Oct 9, 2026* close of business
- *Register closure: Oct 12-16*
- *Payment Date: Oct 30, 2026* via e-dividend.

The 3 Options — Scrip Dividend:

You must submit the election form *on/before Oct 23, 2026*:

*1. 100% Cash:* Default. Get N2.50 per share minus WHT to your bank account.

*2. 100% Shares (Scrip):* Instead of cash, get new PZ shares. Number of shares = (Your dividend amount) / (Reference Price). Reference Price = *10-day VWAP starting Oct 12*.

*3. Mix:* Part cash, part shares — you split on the form.

> Example: If you have 10,000 shares, dividend = N25,000. If VWAP reference = N65, and you pick 100% scrip, you'd get ∼384 new shares instead of cash.

*Which is better?*

- Need cash / high WHT? Take *Cash*
- Bullish long-term and want to avoid unclaimed dividend wahala + increase holding without brokerage fees? Take *Scrip*. PZ just turned net assets positive to N66.64bn from negative N17.34bn last year and deleveraged heavily — scrip buyers are betting on continuation.
- Scrip is tax efficient — no WHT on shares, but cash dividend has WHT.

If you don't submit the form by Oct 23, you'll be paid cash automatically.

*UACN is knocking on 100% YTD.*

- Opened Jan 2026: *₦91.00*
- Now: *₦181.00* = +98.90%
- To hit clean 100% = *₦182.00* — just ₦1.00 away.

The drivers:

*1. CHI Deal = Game changer*
FCCPC approval to take full control of Chivita|Hollandia (CHI Ltd) moves UACN from just a conglomerate to a FMCG powerhouse. Chivita juices + Hollandia milk/yoghurt gives them massive shelf power vs Nestle, Dano, etc. Market is pricing in consolidation synergies.

*2. Revenue surge is real*
Q2/Q3 numbers have been strong across:
- UAC Foods / Grand Cereals
- Paints (CAP + Portland Paints)
- Packaged foods recovery after FX stabilization

*3. Analysts still bullish*
Analysts' consensus target of around *₦262*, is why people aren't taking profit yet at 98.90%. If it hits ₦182, next psychological level is ₦200.

*What to watch:*
- At ₦181, it's at 52-week high territory — thin volume can push it to ₦182 easily in next session, but also sharp profit-taking risk. 100% is a natural place many traders will sell.
- CHI integration cost — acquisition debt vs cash flow.
- If you're holding, set your stop.

Tight race — that ₦1 tick will happen. Question is, does it hold above ₦182 after profit takers come in?

How does it concern us when last this prostitute had sex?

The official listing confirmation.

*What happened Sept 30, 2026:*

NGX listed *1,110,018,448* new shares of The Initiates Plc (TIP)

- Old issued: *889,981,552*
- New issued: *2,000,000,000* shares (50k nominal)
- Offer type: Hybrid Offer

*Breakdown:*

- *Rights Issue:* 177,996,310 @ ₦7.00 = *₦1.245bn*
- Basis 1 for 5 as of 01 Aug 2025
- That was the one extended from Dec 12 2025 to Jan 12 2026 (SEC approval)

- *Public Offer:* 932,022,138 @ ₦9.50 = *₦8.854bn*

- *Total raise:* *₦10.10bn* (if fully subscribed)

*What it means:*

1. *Dilution + Cash:* Existing holders who took Rights kept their %, new public investors came in at ₦9.50 premium — sign market was hot (remember +480% in Q3 2025).

2. *Main Board qualification:* NGX Reg CEO Jude Chiemeka had said at the Nov 2025 Facts Behind Offer that TIP wants to move from Growth Board to Main Board. Main Board needs ₦4bn market cap — with 2bn shares, even at ₦7-9 they are comfortably above that.

3. *Use of proceeds:* As CEO Reuben Mustapha Ossai said — expansion of hazardous waste assets, tech, and entry into public/domestic waste in West Africa.

4. *Trading impact:* Those 1.11bn shares became tradable Sept 30, so expect volume spike and price volatility this week as early Rights/Public Offer allottees decide to take profit.

If you held as of Aug 1 2025 and took your Rights, check your CSCS — Apel Capital Registrar should have credited 1 for 5. If you applied in Public Offer at ₦9.50, same.

vacanci:
I participated in the rights issue. Got my allotment and I have sold them months ago.

What do you mean by those shares will only become tradable from September 30th. Something that I have cleaned my mouth since?

Even the public offer, many people have sold off. I suppose people were the ones that bought from them. Does that not mean trade? Since sellers have been doing their thing and buyers have equality been responding, I guess those shares have become tradable right from the day they were allotted.

I don't understand the ceremony going on

https://doclib.ngxgroup.com/Listings-site/corporate-disclosure-site/Documents/Market%20Bulletin%20-%20Listing%20of%20The%20Initiates%20Plc's%20Hybrid%20Offer.pdf

How does it concern us what the young prostitute chooses to do with her life?

The backstory to today's listing of TIP shares.

*Timeline for The Initiates Plc (TIP) Rights Issue:*

- *Offer:* 177,996,310 shares of 50 kobo at N7.00
- *Basis:* 1 new for every 5 held as at 1 Aug 2025
- *Original dates:* Opened 5 Nov 2025, close 12 Dec 2025
- *Extension:* SEC approval to extend, rights trading closed *Monday 12 Jan 2026*
- *Registrar:* Apel Capital Registrar Limited

So the Rights dragged from Nov 2025 to Jan 2026 — 2 months extension. Common when subscription is slow or SEC wants wider participation.

That Rights was only half the story. They simultaneously ran a *Public Offer of 932,022,138 shares at N9.50.*

Both offers are what got listed *yesterday Sept 30, 2026* on NGX Bulletin:

- Rights proceeds: N1.246bn
- Public Offer proceeds: N8.854bn
- *Total new capital ~N10.10bn*
- Total issued now: *2bn shares* (from 889.9m before)

So extension in January explains why listing only happened now in September — allotment, SEC clearance, and NGX listing take months after close.

If you bought Rights at N7 in that window, your shares are now tradable from Sept 30.

Most people think H1 delay = problem. In reality it's *choice of audit route*.

*NGX / CBN rule:*
- You can file H1 as *unaudited* — 60 days after period end, no CBN deep audit needed. Quick flash. That's what FirstHoldCo, FCMB, Wema, Fidelity sometimes do.
- But *if you want to pay an interim dividend*, CBN + SEC Rules say: you must file *audited* interim. And audited interim must go through full pipeline.

That pipeline is why Zenith, UBA, AccessCorp are late this year:

*1. External auditor layer:* PwC / KPMG / EY must do full IAS 34 interim audit, review impairment models, fair value on securities, FX positions. Takes 6-8 weeks post June 30.

*2. CBN Banking Supervision layer:* Board approves (GTCO July 28, Zenith July 29, UBA Aug 13) and submits to CBN. CBN reviews asset quality, IFRS 9 provisions, capital adequacy, related party, dividend capacity. This year CBN tightened — they are querying NPL classifications, forbearance loans, and capital deductions from recapitalization exercises. They can send it back for adjustments.

*3. NGX layer:* Only after CBN gives "No objection" can NGX authorize publication. NGX then gives extension formally — GTCO/Access/UBA till Sept 30, Zenith till Oct 9.

So delay is *structural, not operational collapse.*

Why would a bank voluntarily take this slower, painful route?

Because interim dividend is a signaling tool. Tier-1 banks compete on it. Investors price banks on interim yield. Paying N1, N4.50 etc in September locks in shareholder loyalty before FY.

If you file unaudited, you cannot pay interim. That's why GTCO took the pain, got CBN clearance Sept 28, published Sept 29, and kept N1.00 interim same as last year. Stanbic IBTC did same — audited H1 published Sept 30 with N4.50 interim.

*Zenith, UBA, AccessCorp* chose the same dividend-paying route, so they are in same queue. It says nothing about PBT collapse — it says they intend to pay interim and are waiting for CBN stamp.

The real red flag to watch is not delay, but: after CBN clearance, do they *cut* interim vs last year? That would signal capital preservation. If they maintain or increase, the delay was just bureaucracy.

That's why UBA FY2025 case was different — that was year-end audited, not H1, and they had already promised capital raise, so withholding final dividend was capital decision, not audit bottleneck.

In short: H1 2026 delays = audited dividend-payer bottleneck, not hidden loss.

This rejoinder lands a cleaner punch than the original attack did — because it separates _earnings volatility_ from _structural decline_.

The core of its argument, stripped of rhetoric:

*1. One bad half-year ≠ institutional decay*
GTCO H1 26: PAT N414.19bn -7.8% YoY, PBT N603.03bn +0.35%, tax +24.3% to N188.85bn. That is a tax and funding-cost squeeze, not a capital adequacy crisis. You need sustained deterioration in asset quality, capital, liquidity, ROE, efficiency — not one period — to declare a "falling institution."

The farming analogy in the piece is apt: single bad harvest doesn't mean the farmer forgot how to farm.

*2. Selective comparison fails*
Nkem's piece held up Fidelity (38% gross earnings growth in Q1 26) as benchmark while ignoring that Fidelity paid *no final dividend for FY2025*, while GTCO paid *N11 final dividend* for FY2025 — under same CEO Miriam Olusanya being criticized. If you want to compare, compare comprehensively: dividends, capital, ROE over 3 years, not one quarter.

Also the Zenith Q1 PAT N314bn vs GTCO H1 PAT N414bn is a mismatched period comparison.

*3. CEO credit/blame symmetry*
You can't credit the CEO for N11 dividend in FY25 and then blame her personally for a -7.8% PAT dip in H1 26 driven by CBN-regulated tax changes and industry-wide 24% jump in interest expense on deposits. That is advocacy, not analysis.

*4. The ethnic lens warning*
Most important part of the rejoinder: Nigeria has a habit of dragging Igbo/Yoruba arithmetic into bank performance debates. GTCO belongs to shareholders, not an ethnic bloc. Measure it in capital, governance, profitability, risk — not tribe.

*5. What serious criticism should look like — the rejoinder's test:*
- Is balance sheet weakening? Show CAR, NPL ratio.
- Is dividend unsustainable? Show distributable reserves.
- Is franchise eroding? Show deposit and customer attrition — but deposits actually grew 11.32% to N13.97tn.
- Strategic error? Identify and quantify it.

> "The man who says the roof is leaking should be able to point to the hole."

Right now, GTCO's hole is: funding cost up 24.2% to N223.79bn, fee income down 8.98% to N123bn, other income down 37.5% to N44.35bn. Manageable, not fatal. Banking PBT still N — but Group non-banking (Payments, Pension, Funds) is growing to diversify.

*Verdict on the verdict:*

Nkem's original piece confused a setback (PAT down due to N36.9bn extra tax) with a structural collapse.

This rejoinder correctly says: let the numbers speak. Annual report is the evidence, market is jury, time is final judge.

If you hold GTCO, watch Q3: does loan growth move from 0.48% to something real? Does cost-to-income stabilize? Does effective tax rate stay at 31.3%? That will tell you if it's temporary pressure or true decay.

Here is what the GTCO Bank Plc audited H1 2026 filing actually shows:

*Verified P&L - H1 2026 vs H1 2025:*

- Gross earnings: N1.11tn, +3.25% YoY
- Interest income: N873.39bn, +7.51%
- Interest expense: N223.79bn, +24.24% - driven by 39.8% surge in interest on customer deposits to N205.77bn
- Net interest income: N649.60bn, +2.75%
- Loan impairment: N18.72bn (+11% YoY), or (-65.94%) vs H1 25 depending on classification, but both agree it is low at under N19bn
- Net fee & commission: N123.03bn, -8.98%
- Other income: N44.35bn, -37.5% from N70.92bn
- Trading gains: N47.3bn, +24.7%
- PBT: N603.03bn, +0.35% from N600.9bn - flat
- Tax: N188.85bn, +24.33% to N188.85bn - effective tax rate 31.3% vs 25.3% last year due to CIT changes, non-deductible expenses, development levy
- PAT: N414.19bn, -7.76% from N449.01bn
- EPS: N11.18 vs N13.59, -17.73% - fall is steeper than PAT because of increased share count from 2024/25 capital raise.

*Balance sheet:*
- Total assets: N18.62tn, +4.81% from Dec 2025
- Customer deposits: N13.97tn, +11.32% from N12.55tn
- Loans: N3.15tn, +0.48% from N3.13tn
- Total equity: N3.32tn, -2.82% - decline driven by dividend payouts, not losses
- Cash: N4.14tn, -21.72%

*What actually happened?*

It is not a "disaster" or "institutional decay." It is a classic Nigerian bank H1 2026 squeeze:

1. *Funding cost squeeze:* Interest income grew 7.5%, but interest expense grew 24.2%. That wiped out most of the NII gain.
2. *Tax squeeze:* PAT fell only because tax rose by N36.9bn. PBT was actually up. This affected all banks due to new CIT rules on capital allowances and development levy.
3. *Non-interest weakness:* Fee income and other income fell, as you noted. That was offset by trading gains.

Management's own comment: "Fair value movements weighed on reported earnings, but the core business held firm... asset quality improved" - with focus on non-banking growth. HabariPay, Fund Managers and Pension together did N15.94bn PBT, +85% YoY.

*Market reaction:*
Shares fell 3.3% to N132.50 on Tuesday Sept 29 after publication, despite being up 46.1% YTD from N90.70 at start of year. Board kept interim dividend at N1.00, same as H1 2025.

*On the Zenith / Fidelity / female leadership comparison:*

Q1 vs H1 is not comparable. Zenith Q1 PAT of N314bn is a quarterly figure, GTCO H1 PAT of N414bn is half-year. And loan growth of 0.48% is a deliberate risk decision across tier-1 banks after CBN recapitalization — preserving asset quality, not "hoarding."

If you want to judge GTBank vs peers, compare H1 2026 on same basis: NIM, cost-to-income, effective tax rate, and deposit growth — not gender narratives.

GTCO is not losing its golden egg status, it is repricing deposits and paying more tax. The real question for H2 is whether it can convert its N13.97tn deposit base into risk-adjusted loan growth without impairing asset quality.

ghm:
It is the only loser and worst performing stock in my portfolio, I have let it's fellow laggers go but it's potential didn't allow me to let it go.

Reserves attract speculators. Balance sheet determines if institutions can come in. Oando today has the first, but fails the second.

*1. The going concern flag is not a technicality. It is a disqualifier.*

When auditors include "material uncertainty related to going concern" it automatically triggers a breach in most institutional mandates.

For Oando's FY2025, the auditor cited:

- Recurring net liabilities - negative equity of N567 billion
- Significant working capital deficiency
- Multiple loan defaults
- Exposure to enforcement of security over assets
- Uncertainty over management's funding plans.

Under IFRS, that means the company is technically insolvent - total liabilities N8.01 trillion exceed total assets. It continues to operate on the basis of a Letter of Financial Support or Guarantee from its majority shareholder. For a pension fund, insurer, or a group like Heirs Energies, that letter is not bankable collateral. Their risk committee cannot approve a position where solvency depends on an unverified shareholder guarantee.

Seplat and Aradel do not have this clause. That alone removes Oando from the investable universe for many.

*2. The earnings quality problem.*

OandO FY2025 reported EPS of N30. It looks strong optically, but:

- Finance costs nearly doubled: N236bn to N465bn
- Operating cash flow: only N32.3bn positive against N8.01 trillion liabilities
- Revenue down 22% YoY, with a gross loss of N2.76bn reported.
- Profit supported by non-recurring items: finance income, tax credits, impairment reversals.

An institutional analyst will strip those out and look at sustainable operating cash flow. On that basis:

- Seplat: $1.17bn operating cash flow, net debt down to $673m, 40-50% dividend payout policy. Cash flows fund both debt service and shareholder returns.
- Aradel: clean balance sheet, low leverage, which is why a single buyer could pay N390bn for 15.92% at N559.50 per share - valuing the whole company at over N2.4 trillion without a going-concern discount.

*3. Debt overhang kills reserve value.*

Oando is the largest indigenous holder of 2P reserves, that is factual. But reserves only create equity value after debt is serviced.

With N465bn in finance costs and only N32.3bn in operating cash flow, free cash flow to equity is negative before capex for reserve development. Any barrel produced first goes to lenders.

This is why Analysts' fair value of N123 on asset NAV and the market price of N34 of Oando Plc, can both be rational. N123 is asset value. N34 is asset value minus debt risk, enforcement risk, and dilution risk. The gap is the market pricing the balance sheet.

*Why Elumelu chose Seplat Plc over Oando Plc is logical:*

1. He is increasing a controlling stake from 20.07% to 21.07% - he needs a board, dividend, and ability to consolidate without going-concern risk.
2. Seplat has just integrated MPNU assets and has clear cash flow to deleverage.
3. He can become Chairman in January 2027 with a clean governance path. No institutional board would approve a Chairman appointment at a company with negative equity and multiple loan defaults.

Until Oando does a definitive balance sheet repair - debt-to-equity conversion, asset sale with debt paydown, or a large equity raise that restores positive equity and removes the going concern qualification - it stays in the speculative basket.

Institutions don't avoid it because they missed the reserves. They avoid it because their mandate forbids them from investing in negative equity companies with loan defaults, regardless of reserves.

FCMB Group has flagged a possible 60-day delay in publishing its Q3 2026 results.

*What was disclosed:*

In a notice to the NGX dated September 24, 2026, FCMB Group said its 9-month unaudited financial statements for the period ending September 30, 2026 — normally due by October 30 — could now be published on or before December 29, 2026.

*Reason given:*

An interim audit has commenced at First City Monument Bank Limited, its largest subsidiary.

Because the bank represents a substantial part of Group operations, its results have a material impact on the consolidated Group accounts. The Group said completion of the audit is needed before publishing the consolidated numbers.

*What it did NOT say:*

The notice does not indicate any accounting problem, adverse finding, regulatory investigation, disagreement with auditors, or restatement of previous accounts. The phrase "material impact" refers to the size/significance of the subsidiary to the Group, not to a material adverse finding.

It also does not link the delay to the CBN recapitalisation programme.

*Implication for investors:*

- October 30 remains the original due date, December 29 is the outside deadline. Results could come earlier if the audit finishes sooner.
- Until published, there will be less current information on earnings, balance sheet and capital position for Q3.
- FCMB Group H1 2026 was strong — profit up 90% to N139.86 billion on surging interest income — so Q3 will be closely watched for trend continuation.

UAC of Nigeria Plc is exiting Livestock Feeds Plc.

*The deal as disclosed:*

- *Buyer:* Sunbeth Treenuts and Sesame Limited (Sunbeth Agro HoldCo)
- *Stake:* 73.29% controlling shareholding
- *Value:* N19.5 billion all-cash, at N8.85 per share
- *Status:* Subject to regulatory approvals

This ends UAC's 12-year ownership. UAC acquired control in 2013 of the company originally established by Pfizer in 1963.

Group Managing Director of UAC, Fola Aiyesimoju, said during their ownership revenue increased 5x and profitability 18x.

*Why it matters:*

- *For UAC:* A strategic portfolio move and monetization. This follows the recent consolidation of its SPV, UAC Food and Beverage Company Limited, into C.H.I. Limited to simplify structure after the Chivita acquisition.
- *For Sunbeth:* A shift beyond sourcing, warehousing and commodity trading into manufacturing. Sunbeth said its immediate priority will be working with existing management to strengthen operations and improve supply-chain efficiency.

Advisers:

- Banwo & Ighodalo for UAC.
- FigPartners Africa and CardinalStone Partners as financial advisers to Sunbeth.
- Olaniwun Ajayi LP as legal adviser.

ghm:
How did OandO escape this list?

Na so you hate Oando?

Tony Elumelu has increased his stake in Seplat Energy to become its largest shareholder.

*The transaction:*

According to a disclosure on the NGX, Heirs Energies Limited bought an additional 6 million shares. The filing states:

> "Following the above transaction, Heirs Energies Limited now holds 27,943,867 shares."

Combined with Heirs Holdings Limited, entities controlled by Elumelu now hold 126.4 million shares, which is 21.07% of Seplat's 599.9 million issued shares.

The disclosure notes this is up from about 20.07% previously. So this latest purchase was about 1% of the company.

*Cost and value:*

We estimate the 6 million units cost about $70 million to $90 million - roughly N94 billion.

The value has risen sharply because Seplat is at an all-time high. The stock opened September at N13,155 and closed at N16,000, up 21.6% in the month.

At N16,000 per share, his 126.4 million shares are worth about N2.02 trillion - approximately $1.5 billion at current rates.

*Context:*

Heirs initially built its position by acquiring the stake previously held by French company Maurel & Prom.

Elumelu is a non-executive director of Seplat and is expected to become Chairman in January 2027. Chairman Senator Udoma Udo Udoma retires December 31, 2026, and former CEO Roger Brown retired July 31, 2026, succeeded by Engr. Effiong Okon on August 1.

Seplat's portfolio is 11 PMLs, 17 PPLs, and 5 OMLs in onshore and shallow water in the Niger Delta.

If you have Aluminum Extrusion Plc, or Austin Laz Plc, in your Portfolio, you are taking a big risky risk.

*5 Worst Performing NGX Stocks so far this Year 2026*

1. Aluminum Extrusion Plc (has lost 54.27%)
2. Austin Laz Plc (has lost 48.24%)
3. Guinea Insurance Plc (has lost 47.37%)
4. Tripple Gee Plc (has lost 47.29%)
5. Sunu Assurance Plc (has lost 44.00%)


Which of them do you have presently in your Portfolio? 🤔

*5 Best Performing NGX Stocks so far this Year 2026*

1. Fortis Insurance Plc (has gained 805.00%)
2. SCOA Plc (has gained 365.49%)
3. Union Dicon Plc (has gained 244.20%)
4. FirstHoldco Bank Plc (has gained 233.82%)
5. Berger Paint Plc (has gained 207.50%)


Which of them do you have presently in your Portfolio? 🤔

https://doclib.ngxgroup.com/Financial_NewsDocs/173_Crystalisation_of_Value_Creation_Plan_-_Asisat_Alfred.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/173_Crystalisation_of_Value_Creation_Plan_-_AW.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/UBA_-_Notification_of_Board_Meeting_and_Closed_Period.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/ACCESS_HOLDINGS_PLC_-_Announcement_on_Board_Meeting_DateQ32026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/48006_GUARANTY_TRUST_HOLDING_COMPANY_PLC-TOTAL_VOTING_RIGHTS_CORPORATE_ACTIONS_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/48008_DANGOTE_CEMENT_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/215_MTN_Nigeria_Communications_Plc_Share_Dealing_-_Saidat_Badru_.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/215_NGX_Insider_Notification-Chioma_Ike.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/215_NGX_Insider_Notification-Chioma_Ike.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/215_NGX_Insider_Notification-Osebi_Joyce_Ufot.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/47959_GUARANTY_TRUST_HOLDING_COMPANY_PLC-2026_INTERIM_DIVIDEND_-_CORPORATE_ANNOUNCEMENT__CORPORATE_ACTIONS_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/47963_UNITED_CAPITAL_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/47969_ZENITH_BANK_PLC-ZENITH_BANK_PLC_ANNOUNCEMENT__CORPORATE_ACTIONS_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/47971_ARADEL_HOLDINGS_PLC-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_SEPTEMBER_2026.pdf

https://doclib.ngxgroup.com/Financial_NewsDocs/47976_LASACO_ASSURANCE_PLC.-_NOTICES_OF_BOARD_MEETING_(BM)_-_NOTICE_BOARD_MEETING_(BM)_SEPTEMBER_2026.pdf

Today is the last trading day before Public Holiday tomorrow

*Have you noticed that Men of God who do miracles, have done almost all the miracles done by our Lord Jesus Christ, including healing the sick, curing the blind, curing the deaf, casting out demons, and even raising the dead. But they deliberately avoid the miracle of Walking on top water, Turning water into wine, and Feeding of 5,000 people with only 5 loaves of bread and 2 fishes. Abi those ones no follow for Miracles?*🤔


If I Offend You, Tell Me ooo. 😁😁😁🏃🏃🏃