Economy
Local Currency Trades Flat at Spot Market, P2P
By Adedapo Adesanya
The local currency opened the new week in a stalemate against the United States Dollar at two separate segments of the foreign exchange (FX) market on Monday.
At the Investors and Exporters (I&E) window of the forex market, the value of the domestic currency compared with the greenback remained unchanged at N416.63/$1 yesterday.
However, the Nigerian currency appreciated against the British Pound Sterling at the spot market on Monday by N1.13 to close at N545.41/£1 in contrast to the N546.54/£1 it traded at the previous trading session.
In the same vein, the Naira was strengthened against the Euro at the same market window yesterday by N1.83 as it was exchanged at N458.09/€1 compared with N459.92/€1 it closed last Friday.
But the Naira closed flat against the American currency at the Peer-2-Peer (P2P) segment of the market on Monday, closing at N583/$1, the same rate it ended at the preceding trading day.
A look at the digital currency market on Monday indicated that the news of the acquisition of a 9.2 per cent stake in Twitter by Elon Musk did not have much effect on the market as six of the 10 tokens tracked by Business Post across several trading platforms were in the red.
Solana (SOL) depreciated by 3.8 per cent to sell for N78,128.14, Litecoin (LTC) lost 2.3 per cent to trade at N74,111.58, Ripple (XRP) declined by 2.2 per cent to quote at N484.21, Binance Coin (BNB) recorded a 0.6 per cent drop to sell at N185,045.13, Bitcoin (BTC) went down by 0.4 per cent to settle at N27,938,985, while the US Dollar Tether (USDT) declined by 0.2 per cent to close at N592.61.
However, Cardano (ADA) appreciated by 1.2 per cent to N713.04, Dash (DASH) climbed by 0.8 per cent to sell for N77,090.68, Ethereum (ETH) recorded a 0.4 per cent appreciation to trade at N1,909,500.00, while Dogecoin(DOGE) also recorded a 0.4 per cent gain to sell at N87.41.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
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