THE Nigerian stock market closed last week impressively in continuation of the long-running bullish market.

THE Nigerian stock market closed last week impressively in continuation of the long-running bullish market. But while the banking sector has been the lead driver of the market bulls it has been a mixture of steep rises for all the Tier-1 banks and sluggish recovery for some of the Tier-2 banks. The trading days ahead would be a defining period for the laggards as their performance in the second quarter 2017 (Q2’17) would speak for them. T-1 banks include the five leading institutions, namely: First Bank, Zenith Bank, Guaranty Trust Bank, United Bank for Africa (UBA) and Access Bank. The remaining banks are categorized as T-2. The two banks in the T-2 category could indicate the investment grade of the stocks, viz. Wema Bank and Unity Bank. The T-2 banks are not resting on their oars. They are stepping up their investment outlook in so many ways. Wema Bank breaks out Wema Bank appears most serious with investor communication, leading the pack with the first Q2 ‘17 conference call so far amongst all the quoted companies.  It is also instructive that the bank was the first among all the banks to announce Q2 ‘17 results beating the traditional early-birds like GTB, Zenith and UBA. A conference call is a phone-in session where senior management of a company briefs stakeholders on financial statements and ongoing developments. Analysts and shareholders are at liberty to ask questions about the company. Management also gives insight into their plans going forward, and thoughts about the economy as a whole. Wema’s Conference Call was addressed by the Chief Finance Officer, Tunde Mabawonku. •Segun Oloketuyi, MD/CEO, Wema Bank Plc

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