Nigerian Stock Market React as CBN Announces New Interest Rate
- The Nigerian Exchange closed Wednesday trading lower as investors sold off stocks across banking, oil & gas, and major sectors
- Dangote Sugar, Lotus Halal ETF, Mecure, NSTechnology, and Cornerstone Insurance led the gainers’ chart
- FG Sukuk 2031, Deap Capital, Legendary Investments, Wapic, and R.T. Briscoe topped the losers’ table
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Nigeria’s Stock market closed negative after trading on Wednesday, September 24, 2025, despite the Central Bank of Nigeria (CBN) cutting its benchmark interest rate to 27%.
The interest rate decision announced on Tuesday, is the first reduction in five years.
Source: Getty Images
Nigerian stock market performance
Data from NGX revealed that the market slipped by 0.40% as investors sold across board, led by banking, oil & gas, and other major counters.
Its benchmark index dropped to 140,929.6 points while equities market capitalisation decreased to ₦89.198 trillion, with all key sectoral indices closing in the red.
Futureview research analysts said ahead of the MPC meeting:
“This week, we expect the equities market to post modest gains driven by anticipation of MPC rate cut, strong H1 2025 banks’ earnings and interim dividend positioning, all of which should strengthen sentiment and sustain demand for undervalued quality stocks."
CBN reduces interest rate
In its effort to stimulate economic growth amid slowing inflation, the Monetary Policy Committee (MPC) of the CBN, after a two-day meeting, unanimously reduced the MPR by 50bps to 27%.
It also adjusted the asymmetric corridor around the MPR to +250bps/-250bps; reduced the CRR for commercial banks from 50% to 45%; retained the CRR of merchant banks at 16%; retained the liquidity ratio at 30%; and introduced a 75% CRR on Non-TSA public sector deposits, BusinessDay reports.
Although lower rates typically make borrowing cheaper, encourage spending and investment, and boost stock prices, the impact has yet to be seen on the NGX.
Here is a snapshot of the market on Wednesday
Top 5 gainers
- Dangote Sugar Refinery Plc rose by ₦5.40, increasing from ₦54.00 to ₦59.40 per share (+10.00%).
- Lotus Halal Equity ETF gained ₦6.89, moving from ₦68.98 to ₦75.87 per share (+9.99%).
- Mecure Industries Plc appreciated by ₦2.15, climbing from ₦21.60 to ₦23.75 per share (+9.95%).
- NSTechnology Plc advanced by ₦0.06, rising from ₦0.75 to ₦0.81 per share (+8.00%).
- Cornerstone Insurance Plc added ₦0.48, up from ₦6.00 to ₦6.48 per share (+8.00%).
Source: Getty Images
Top 5 decliners
- FG Sukuk 2031 Series 4 dropped by ₦23.44, falling from ₦96.94 to ₦73.50 per share (-24.18%).
- Deap Capital Plc declined by ₦0.18, decreasing from ₦1.91 to ₦1.73 per share (-9.42%).
- Legendary Investments Plc lost ₦0.50, moving from ₦5.40 to ₦4.90 per share (-9.26%).
- Wapic Insurance Plc shed ₦0.28, down from ₦3.20 to ₦2.92 per share (-8.75%).
- R.T. Briscoe Plc fell by ₦0.32, dropping from ₦3.92 to ₦3.60 per share (-8.16%).
Top 5 trades by volume
- Zenith Bank Plc recorded 68,994,605 shares valued at ₦4,757,394,535.10.
- Access Holdings Plc saw 47,305,595 shares exchanged, amounting to ₦1,175,880,785.20.
- FBN Holdings Plc registered 46,109,281 shares worth ₦1,422,676,599.85.
- Fidelity Bank Plc traded 42,325,375 shares valued at ₦868,022,869.20.
- Guaranty Trust Holding Company Plc posted 22,878,573 shares, with a total value of ₦2,076,608,958.50.
CBN issues fresh warning to Nigerians abuse of naira
Earlier, Legit.ng reported that the Central Bank of Nigeria (CBN) has appealed to Nigerians not to abuse the naira.
The apex banks urged Nigerians to respect and avoid practices that damage the nation's currency.
The initiative is aimed at reducing abuse of the naira and discouraging hoarding, which undermines smooth monetary operations.
Source: Legit.ng
