The Federal Government of Nigeria is set to begin a mass crackdown on illegal migrants starting August 1, 2025. This initiative aims to enforce immigration laws and ensure proper documentation of foreign nationals residing in the country. Authorities have emphasized that undocumented migrants must regularize their status or face deportation as part of this nationwide effort.
Meanwhile, the Nigerian stock market maintained a positive trend, with investors gaining N26 billion as key performance indices edged up by 0.04 percent on Tuesday. The Nigerian Exchange Ltd. (NGX) market capitalization climbed to N66.214 trillion from Monday’s opening figure of N66.188 trillion. Similarly, the All-Share Index rose by 41.89 points to close at 105,593.28, compared to 105,551.39 in the previous session.
The market breadth remained strong, with 25 stocks advancing while 21 recorded losses. May Baker Nigeria led the gainers, surging 10 percent to close at N8.80 per share. Mutual Benefits Assurance followed with a 9.59 percent increase, ending the day at 80 kobo. eTranzact International saw a 9.38 percent rise, closing at N5.25, while Abbey Mortgage Bank gained 8.86 percent to settle at N4.30. Consolidated Hallmark Holdings also posted an 8.79 percent increase, reaching N3.59 per share.
On the losing side, Eterna led the decline with a 9.21 percent drop, closing at N34.50 per share. Royal Exchange followed, shedding 7.95 percent to end at 81 kobo. Veritas Kapital Assurance declined by 5.98 percent to N1.10, while WAPIC Insurance fell by 5.88 percent to N2.24. Oando also slipped by 5.66 percent, closing at N50.00 per share.
Trading activity showed a total of 349.33 million shares exchanged, valued at N15.075 billion across 12,450 deals. This was slightly lower than Monday’s session, where 440.52 million shares worth N10.470 billion were traded across 13,314 deals.
Access Corporation led the trading volume, with 36.596 million shares worth N810.888 million changing hands. United Bank for Africa followed with 26.538 million shares, valued at N1.003 billion. Universal Insurance recorded 22.021 million shares worth N12.808 million, while Fidelity Bank traded 20.485 million shares valued at N380.598 million. Zenith Bank also saw significant activity, with 20.137 million shares exchanged for N970.325 million.