By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange started the new week with an appreciation of 0.65 per cent on Monday, March 10.

The rise was driven by five price gainers during the session, with Okitipupa Plc further chalking up N29 to end at N327.00 per unit compared with the preceding day’s N298.00 per unit.

In addition, Nipco Plc gained N18.17 to close at N199.80 per share compared with last Friday’s N181.63 per share, FrieslandCampina Wamco Nigeria Plc jumped by 49 Kobo to N37.49 per unit from N37.00 per unit, AG Mortgage Bank Plc grew by 4 Kobo to 52 Kobo per share from 48 Kobo per share, and First Trust Microfinance Bank Plc expanded by 3 Kobo to 50 Kobo per unit from its previous rate of 47 Kobo per unit.

As a result of the gains recorded by the securities, the market capitalisation of the platform went up by N12.68 billion to settle at N1.959 trillion compared with the preceding session’s N1.946 trillion, and the NASD Unlisted Security Index (NSI) increased by 21.96 points to close at 3,392.35points, in contrast to the previous trading day’s 3,370.39 points.

Business Post reports that during the trading day, 11 Plc plunged by N13.00 to N240.00 per unit from N253.00 per unit, NASD Plc lost N1.63 to settle at N19.00 per share versus last Friday’s price of N20.63 per share, Geo-Fluids Plc declined by 23 Kobo to trade at N2.68 per unit versus N2.91 per unit, and Central Securities Clearing System (CSCS) Plc fell by 2 Kobo to quote at N23.02 per share compared with the preceding session’s N23.00 per share.

Yesterday, the volume of securities traded at the bourse rose by 53.9 per cent to 1.7 million units from the 1.3 million units achieved in the previous tarding day, the value of securities went up by 26.8 per cent to N27.8 million from N21.9 million, and the number number of deals increased by 157.1 per cent to 36 deals from 14 deals.

Impresit Bakolori Plc was the most active stock by value (year-to-date) with 533.9 million units worth N520.9 million, followed by FrieslandCampina Wamco Nigeria Plc with 11.9 million units valued at N461.4 million, and Afriland Properties Plc with 17.2 million units valued at N352.7 million.

Also, Impresit Bakolori Plc was the most active stock by volume (year-to-date) with 533.9 million units worth N520.9 million followed by Industrial and General Insurance (IGI) Plc with 69.9 million units worth N23.7 million and trailed by Afriland Properties Plc with 17.2 million units valued at N352.7 million.

By Dipo Olowookere

President Bola Tinubu has claimed that the economic reforms his administration undertook when he assumed office on May 29, 2025, have helped to keep the exchange rate of the Naira to Dollar stable at the foreign exchange (FX) market.

Speaking on Monday when he inaugurated the Planning Committee for the National Youth Conference at the State House in Abuja, the President expressed confidence that some professionals, who left Nigeria due to economic crisis, would begin to return as a result of improvement in the country’s economy.

He said the ongoing reforms are to the benefit of the youth, who he described as the future of Nigeria, charging them to be free to tell the truth to him.

“I want to reassure you that you are the hope of this country, and everything hangs on you. Every decision that I have taken is about you. It’s about the future.

“When we removed the fuel subsidy, it was because we wanted to protect your future. We have cleared the path for you to have a great future,” President Tinubu said.

“When you listen to most professionals leaving Nigeria, there’s a cause. If you grow prosperity back home and empower people, they will not bother leaving. They will stay home,” Mr Tinubu was quoted as saying in a statement issued by his spokesman, Mr Bayo Onanuga, on Monday.

“This is your opportunity to develop the nation and make it prosperous. The government of today is all about you. You can be critical of politicians and abuse them all the way you can, but politics is about development and the future of generations. You are the heartbeat of our nation, and I hope you take this responsibility seriously.

“I am glad you are here as a committee to inspire today, tomorrow and hereafter. I am with you,” President Tinubu told the 44-member planning committee.

He noted that the economic reforms had repositioned the economy for greater prosperity and empowerment. Most indicators showed a steady fall in the prices of goods, especially foodstuffs, and a stabilisation of the exchange rate.

“When we started, it looked so foggy, dicey and hopeless. We worked hard, and it was like drawing water out of a dry well.

“But today, the economy has turned the corner; prices are falling, confidence in our economy is improving, investors are looking this way, and technology is advancing.

“You have a great opportunity, and I am ready to listen to you. I have heard your spokesperson’s remarks. You have a great chance of advancing the development of this country. It is all in your hands.

“My position is to help navigate, push, and lift the heavy weight of problems so that I can clear the way for you. You have a great future before you, which is in your hands.

“Just look me in the face and tell me whatever you think is wrong and the way forward. Be frank. We will implement your suggestions so long as they are for the country’s prosperity,” he stated.

The Minister of Youth Development, Mr Ayodele Olawande, who was at the event, thanked the President for giving the youth a voice and assured that the committee represented various stakeholders fairly.

“We want to thank you for the futuristic ideas; more than 260,000 students have already benefited from the administration’s student loan schemes.

“We appreciate the renovation of the Third Mainland Bridge for us to use and clearing the passport backlog,” the Minister stated.

A member of the committee, Mr Samson Itodo, said the President’s convening of the conference will be a major milestone in involving youths in the country’s development, listing some of the areas of priority as political governance, economic transformation, skills for the future, such as Artificial Intelligence, climate change and energy transition, and social cohesion and security.

He said the framework will include virtual consultations, calls for memoranda, regional town hall meetings and the Abuja conference.

By Adedapo Adesanya

All seems not to be well with the Naira at the different segments of the foreign exchange (forex) market, as its value continues to weaken against the United States Dollar, according to data harvested by Business Post.

At the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Monday, March 10, the domestic currency suffered a loss of 0.62 per cent or N9.51 against the US Dollar to quote at N1,532.29/$1 compared with last Friday’s exchange rate of N1,522.78/$1.

Equally, the local currency tumbled against the British Pound Sterling in the official market by N18.20 to sell for N1,978.48/£1 versus the previous session’s N1,960.28/£1.

Similarly, the Nigerian currency crashed against the Euro in the spot market during the trading session by N9.13 to settle at N1,658.07/€1, in contrast to the N1,648.94/€1 it was exchanged last Friday.

In the same vein, the Nigerian Naira crumbled against the greenback in the black market on Monday by N10 to trade at N1,580/$1 compared with the previous session’s value of N1,570/$1.

It was observed that the recent fall in the value of the Naira in the currency market is due to concerns about FX liquidity despite efforts by the Central Bank of Nigeria (CBN) to calm nerves.

The major driver has been the decline in the country’s external reserves, which depleted by $2 million in the past weeks to $38.35 billion.

Meanwhile, the cryptocurrency market stumbled yesterday amid concerns about a Donald Trump triggered tariff war and a slowing economy in the US, the world’s largest economy.

The American President said the US economy is in a “transition” phase, also refusing to rule out a recession this year.

On Monday, the price of Bitcoin (BTC) went down by 2.9 per cent to $80,115.68, Dogecoin (DOGE) depreciated by 9.4 per cent to $0.1580, Litecoin (LTC) shed 8.9 per cent to $88.57, Ethereum (ETH) slid by 8.5 per cent to $1,894.06, and Solana (SOL) slumped by 4.9 per cent to $122.59.

In addition, Binance Coin (BNB) declined by 4.7 per cent to $538.26, Ripple (XRP) lost 4.4 per cent to finish at $2.10, and Cardano (ADA) plunged by 3.7 per cent to $0.7183, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.