The Weekly Street Note — W25 · 19 Jun 2026 Premium

The Regulator Reshuffles the Deck

Three CBN directives landed in the same week: mandatory fintech reporting requirements, Ultimate Beneficial Owner disclosures, and forced local hosting of foreign-exchange data. The cumulative weight pushed ICT composites lower — MTNN dropped out of Conviction Buy for the first time in weeks as compliance cost expectations hit the model's financial pillar. Meanwhile HealthCare (composite avg 61.0) and Oil & Gas (58.8) held firm, insulated from the regulatory crossfire.

VITAFOAM entered Conviction Buy this week on the back of improving technical momentum and a valuation that still looks undemanding relative to Consumer Goods peers. The roster stays at five names, but the composition has shifted — a sign the model is doing exactly what it should: responding to the week's evidence, not last week's narrative.

Three Names Worth Your Attention

MAYBAKER leads at 79.9 despite shedding 8.2 composite points from last week — the decline reflects mean reversion from an exceptional prior reading, not a deteriorating business. P/E 13.8x, 30.6% ROE, 12.3% margin. The HealthCare thesis is intact.

TIP scores 77.5 and continues to look mispriced. P/E 6.2x with ROE of 60.9% and a 29.9% net margin — a Services business compounding capital at a rate that most investors would pay a premium for, yet the stock remains at bargain prices. Liquidity (₦152.2M ADV) continues to improve week on week.

VITAFOAM is the new entry at 75.6. The Consumer Goods name benefits from improving order-book momentum and a valuation that offers upside if margins hold through input cost cycles. Worth watching for follow-through — new entrants to Conviction Buy need to prove the move over 2–3 weeks.

Movers This Week

Biggest gains — CORNERST led with +10.3, recovering strongly in Financial Services even as broader sector sentiment remained nervous. CONOIL (+9.1) continued its Oil & Gas momentum — the sector's upstream names are benefiting from the same production-surge tailwind that drove last week's rally.

Biggest losers — MAYBAKER (-8.2) topped the decliners despite remaining firmly in Conviction Buy — the drop is a normalisation from an elevated prior-week score. OANDO (-6.7) pulled back in Oil & Gas after a strong run; NAHCO (-4.6) and GUINEAINS (-4.6) both softened on sector-level pressure.

Watch list — MTNN is worth monitoring closely. A single week outside Conviction Buy does not break the long-term thesis — the stock's financial pillar (82/100) and technical momentum (66/100) remain strong. One more week of steady data and it likely returns to the roster.

Full scores, order book data, and sector breakdown on the dashboard.

⚠ Research output only — not personalised investment advice. MoloneyStreetRe Analytics publishes quantitative model scores for research and education purposes. Always carry out your own due diligence before making any investment decision. Capital is at risk.