Lagos, Feb 22, 2026, 09:55 WAT — The market has closed.
- The board at Nigerian Exchange Group is set to review the audited 2025 financial statements on Feb. 24, according to a regulatory filing. (NGX Group board notice)
- Shares finished at ₦122 on Feb. 20—unchanged for the day. Trading volume hit roughly 5.95 million shares. (APT Securities daily price list)
- Traders eye the CBN’s Feb. 23–24 policy meeting, looking for signals that might keep cash flowing into equities.
Nigerian Exchange Group heads into the week with eyes on its upcoming board meeting—directors are set to review the audited results for the year ended Dec. 31, 2025 on Feb. 24, according to a regulatory filing. Shares closed Friday flat at 122 naira.
The bourse operator’s earnings move in step with activity on the Nigerian Exchange—busier trading sessions and fresh listings typically push fee income higher. With the market heating up, NGX Group has ridden that momentum, joining other names that have surged on the tape.
Macro forces could disrupt things here. Nigeria’s central bank has its policy meeting set for Feb. 23–24, and a rate move would likely shuffle the balance between fixed income and stocks. “The immediate implication is expected lower rates,” noted Samuel Sule, CEO at Renaissance Capital Africa. But a Proshare analyst isn’t convinced: “the CBN may not be in any hurry to cut rates.” David Adonri at HighCap Securities weighed in too, pointing out that “the equities market is likely to continue its rally amid surging demand.” (Proshare inflation/MPC preview)
NGX Group closed out Friday unchanged at 122 naira, logging 1,234 trades. Turnover came to about 672.2 million naira on 5,945,292 shares, according to APT Securities.
Support from the broader market has been clear. The NGX All-Share Index put on 6.95% for the week ending Feb. 20, settling at 194,989.77 points. Market capitalisation hit 125.164 trillion naira, according to an exchange report. Equity turnover hit 7.662 billion shares, totaling 252.566 billion naira across 345,118 deals. (NGX weekly market report)
Turnover hit 820,445,041 shares on Friday, with trades worth 28.27 billion naira across 63,462 deals, according to the report. Financial services dominated by volume. FCMB Group, Access Holdings, and Zenith Bank were the busiest names—combined, they made up close to half the shares traded.
NGX Group investors now turn to the audited results for answers on transaction fees, listing and issuer fees, market data and technology revenue, plus what’s happening with expenses. Turnover climbed sharply; the next thing to watch is whether that surge actually fed into earnings—and if this was just a spike or something more sustained.
The Feb. 18 filing pointed to what it called a “closed period”—that’s the local label for a pre-results insider trading blackout. “The Closed Period … will continue until twenty-four (24) hours after the filing of the 2025 AFS,” the company said.
Still, the week could easily sour. A holdup with the audited release, or if traders get too aggressive on earnings and dividend hopes, and shares could quickly lose steam—especially after such a strong rally. A central bank tone that’s anything but dovish? That could stall fresh equity inflows and drag on turnover, denting sentiment for a business built on fees.
Trading resumes in Nigeria’s equity market on Monday, with initial volumes likely to offer a first glimpse of sentiment after the weekend pause. Attention is fixed on Tuesday’s NGX Group board meeting and the subsequent release of audited results—a clear focal point for investors.
