May 15, 2026/Cordros Report According to the National Bureau of Statistics (NBS), the headline inflation rose for the second month in a row, increasing by 31bps to 15.69% year-on-year in April (March: 15.40% y/y). We attribute the increase primarily to the acceleration in food inflation to 16.06% y/y (March: 14.31% […]
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SEC Warns Public against Illegal Ponzi Scheme Promoted on Social Media
May 14, 2026/SEC Nigeria The Securities and Exchange Commission (SEC) has warned Nigerians against investing in illegal online investment schemes being promoted across social media platforms, saying many of them exhibit characteristics of Ponzi and prohibited investment operations. In a public notice issued on Thursday, the Commission said its attention […]
MTN Nigeria Q1-26 Update: Investment Case Remains Intact; TP Raised to NGN1,047.85
May 14, 2026/Cordros Report We revise our 2026E estimates for MTNN following its Q1-26 earnings release. Specifically, we raise our 2026E revenue growth forecast to 24.0% y/y (Prev: +22.6% y/y), reflecting stronger subscriber momentum across both voice and data, with net adds now projected at 7.83m and 4.77m, respectively (Prev.: +5.71m […]
