Guinea Insurance completes recapitalisation and is cleared by NAICOM
Guinea Insurance said it completed a rights issue and private placement and was named by NAICOM among insurers meeting the capital requirement under NIIRA 2025.
Nigerian Securities News
Latest equities, bonds, and regulatory news from Nigeria, updated daily.
Market overview
Nigeria’s securities market runs on two licensed exchanges with different jobs. Nigerian Exchange Limited, known as NGX and a wholly owned subsidiary of Nigerian Exchange Group, traces its history to 1960 and handles equities, fixed income securities, exchange traded products and funds. FMDQ Securities Exchange Limited was registered by the Securities and Exchange Commission first as an over the counter market in 2012 and then as a securities exchange in 2019, and organises the fixed income, currencies and derivatives markets, where corporate bond programmes are registered, listed and quoted. NGX is licensed under the Investments and Securities Act and, like FMDQ, is regulated by the SEC.
Read the full overview and sources
Equity issuers choose between three NGX boards. The Main Board is the founding segment and has listed established companies since 1961. The Growth Board takes small cap and fast growing companies, including technology firms, on relaxed entry criteria, reduced post listing obligations and a lower fee structure, supported by designated advisers. The Premium Board sits above the Main Board and applies the exchange’s strictest tests: a company must already satisfy one of the Main Board listing standards, carry a market capitalisation of at least NGN200 billion when the exchange receives the application, score at least 70 per cent under the NGX Corporate Governance Rating System, and either float 20 per cent of its issued share capital or hold free float shares worth NGN40 billion or more.
Government paper is the larger half of the market by value. The Debt Management Office runs monthly FGN bond auctions, usually as re-openings of existing stocks. At the auction dated August 17, 2026, settling August 19, 2026, the DMO offered N250.00 billion of the 22.60% FGN JAN 2035, N100.00 billion of the 16.2499% FGN APR 2037 and N750.00 billion of the 15.45% FGN JUN 2038, and allotted them at marginal rates of 17.1500 per cent, 17.1900 per cent and 17.7900 per cent while keeping the original coupons. Total public debt stood at 159,351,581.44 million naira, or US$114,954.40 million, as at March 31, 2026, split 54.85 per cent domestic and 45.15 per cent external at the Central Bank of Nigeria official rate of US$1 to N1386.2156.
Monetary conditions set the tone for both markets. At its 306th meeting, held on 20th and 21st July 2026, the Monetary Policy Committee retained the Monetary Policy Rate at 26.5 per cent, having cut it by 50 basis points in February 2026, and kept the cash reserve requirement at 45.00 per cent for deposit money banks and 16.00 per cent for merchant banks, with 75.00 per cent on non-TSA public sector deposits.
Banking, energy, telecommunications, cement and consumer goods issuers dominate NGX turnover, while naira corporate issuance clusters on FMDQ under multi instrument and bond issuance programmes. GSN covers NGX and FMDQ listings and results, SEC and exchange rule changes, DMO auctions and the naira and rate decisions that move both.
Sources
This overview is based on the official documents listed below, last checked 2026-09-03. Figures are as stated in those documents.
- About Us: Corporate Overview · Nigerian Exchange Group · 2026-09-03
- Premium Board · Nigerian Exchange Group · 2026-09-03
- FMDQ Exchange · FMDQ Group · 2026-09-03
- Summary of FGN Bond Auction Results for August, 2026 · Debt Management Office Nigeria · 2026-09-03
- Nigeria's Total Public Debt as at March 31, 2026 · Debt Management Office Nigeria · 2026-09-03
- Monetary Policy Decisions · Central Bank of Nigeria · 2026-09-03
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