FirstHoldco Plc’s shares on the Nigerian Exchange (NGX) jumped 25.6% over a short stretch, taking year-to-date gains to about 233%. CSL Stockbrokers cut its target price sharply to N51.55 while keeping a “hold” rating, citing earnings momentum driven largely by one-off non-core income such as securities sales and FVTPL gains. The broker also flagged asset-quality pressure, with the NPL ratio rising to 13.9%, and said the group’s capital adequacy ratio remains below the benchmark.

The Central Bank of Nigeria (CBN) will auction N700 billion of Nigerian Treasury bills on Wednesday through the Debt Management Office (DMO). The sale will cover 91-day, 182-day and 364-day tenors, sized at N100 billion, N100 billion and N500 billion, respectively. The operation is aimed at mopping up about N3.8 trillion of excess liquidity in the financial system while the benchmark interest rate remains at 26.50%. It is positioned as a routine open-market intervention that does not change the monetary policy stance.