Investors Lose ₦440bn as ASI Extends Decline; Access Holdings Unveils New CEO

The Nigerian Exchange Limited (NGX) closed lower on Thursday, August 28, 2025, as the All-Share Index (ASI) slipped by 0.49 per cent to settle at 140,557.24 points. The decline, driven largely by losses in banking and consumer goods stocks, extended the market’s losing streak to two straight sessions.

Market capitalisation dropped by about ₦440 billion, closing at ₦88.93 trillion compared to ₦89.37 trillion in the previous session. Despite the bearish close, activity levels improved significantly, with investors trading 885 million shares worth ₦28.3 billion, representing increases of 30 per cent in volume and 28 per cent in value. Sectoral performance was broadly negative as the Banking Index fell by 1.41 per cent, Consumer Goods declined by 0.92 per cent, Industrials shed 0.45 per cent, and Oil & Gas dipped slightly by 0.02 per cent. The Insurance Index was the sole gainer, rising 0.44 per cent.

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Alongside the market downturn, the exchange witnessed a series of corporate disclosures. Access Holdings Plc confirmed the appointment of Innocent Ike as its substantive Group Managing Director/Chief Executive Officer, effective August 29, ending the 18-month interim leadership of Bolaji Agbede. The development marks a major step in the company’s leadership restructuring under the influence of Aigboje Aig-Imoukhuede.

Other disclosures came from United Capital Plc, BUA Foods Plc, and VFD Group Plc, which all reported insider share dealings, reflecting governance transparency and executive confidence in their respective firms. Mecure Industries Plc notified the market of its forthcoming Annual General Meeting, where shareholders are expected to deliberate on dividend payouts, board elections, and growth plans.

In the courier and logistics sector, Trans-Nationwide Express Plc filed its earnings forecast, providing forward-looking guidance to investors. International Breweries Plc announced board changes, while International Energy Insurance Plc disclosed that it had repaid a loan facility to Daewoo, signalling progress in its financial restructuring programme.

The combination of these corporate actions and weak investor sentiment shaped the day’s trading session, leaving the market in negative territory even as turnover and volume rose sharply.