Economy
First Primus Nigeria Appoints Vikas Parihar as Chief Digital Officer
By Adedapo Adesanya
First Primus Group, the WPP Partner agency in Nigeria, has appointed Mr Vikas Parihar as Chief Digital Officer at the group level.
Mr Parihar, in his new role, will drive digital transformation and business for the group, partnering with individual agency MDs and country managers, implementing global digital practices, providing strategic leadership for digital integration, and paving the digital roadway for the group.
In a statement made available to Business Post, the company said – “With rich experience spanning over 16 years, Vikas has led digital business and marketing for FCB India as group President Digital Integration for India, OgilvyOne Africa as a Managing Director, Havas Worldwide India as Senior Vice President, Vice president for Magnon\TBWA group in India and Internet Moguls, Director of Marketing communications for Sofitel Luxury Hotels and Resorts India and have been a part of Hinduja Group and Hotel Leela Venture as well.
“His experience ranges across numerous sectors including FMCG, Technology, Healthcare, Travel and Hospitality, Social Development/ Tech for Good, eCommerce, Consumer Durables and Electronics. He has lent his expertise to various brands, such as UNICEF, Plan India, Airtel Africa, Coca-Cola Africa, Standard Chartered Bank, Care India, HCL Healthcare, Huawei, Microsoft Lumia, Jindal Steel and Power, Mercedes Benz India, UTV, Toshiba, Daikin, Turkey Tourism, TATA group companies and many more.”
Mr Parihar will be joining with a unique combination of skills ranging from a passion for business and numbers to strategy, creativity, data, and technology. He is a certified customer experience management professional from the Indian Institute of Management Kozhikode, a design thinking practitioner and a certified storyteller using data visualisation from the USA.
In his career, he worked very actively on large technology assignments in the field of Marketing Automation, Tech for Good platform, enterprise solutions, SAAS solutions, and consumer technology products.
He has been active for the past 7 years in the field of blockchain, NFT, UX, Data science and analytics, facial recognition products, and AI/ML.
Commenting on the appointment, Founder/ Group CEO, First Primus Mr Seni Adetu said: “We have consistently emphasised our intent at partnering with other leading marketing agencies in transforming the marketing communications standards in Nigeria. Hopefully, by bringing on board a seasoned Digital Marketing expert such as Vikas in service of that ambition, it is evident this is not business as usual.”
Speaking of his new role, Mr Parihar said, “In today’s connected world, we need a creative agency which focuses on customer experience and brings together big ideas, technology, and data. These ingredients are key to creating compelling and engaging personal experiences that help win more customers and make them more valuable. And this is what I look forward to building at First Primus Nigeria.”
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.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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