Economy
SEC Working to Ensure Investors Identify Genuine Investment Opportunities
By Aduragbemi Omiyale
The Executive Commissioner Operations for the Securities and Exchange Commission (SEC), Mr Dayo Obisan, has disclosed that the agency was working tirelessly to ensure that investors identify genuine investment opportunities through investor education programmes.
Speaking during one of such workshops for staff of the Federal Road Safety Corps (FRSC) in Abuja on Wednesday, the capital market expert said the commission was worried about the activities of Ponzi scheme operators, who he said are taking advantage of the poor knowledge of the public in the market to dupe them.
However, he assured that the organisation would continue to deploy its enforcement mechanisms, including collaboration with other relevant government agencies and stakeholders, to tackle the menace.
Mr Obisan, who was represented by the Director of the Market Development Department, Mr Nestor Ikeagu, said these promoters of these unscrupulous schemes pose as operators in the capital market to defraud investors of their money with mouth-watering promises of return on investments.
“This has made it difficult for investors to differentiate between genuine and false investment opportunities. The activities of these Ponzi scheme promoters have posed a huge challenge to the commission. In combating them, we are working in collaboration with other agencies to nip their activities in the bud.
“Also, the commission is working tirelessly to ensure investors are aware of these nefarious activities through investor education programmes. We urge the FRSC to partner with us in the fight against Ponzi schemes by reporting to the SEC anytime such activities are noticed. We can be reached via www.sec.gov.ng, +234-094621168 and the SEC social media handles,” he stated.
He expressed the hope that the programme will give participants an overview of the capital market and afford them the opportunity to learn how to invest in the Nigerian capital market, including Collective Investment Schemes being managed by professionals, in addition to exposing participants to the activities of Ponzi schemes and how to identify them.
The Executive Commissioner disclosed that the SEC has a dual mandate to regulate and develop the Nigerian capital market that is fair and orderly, and engenders investor confidence adding that a key aspect of the SEC’s market development role is enlightenment and investor education.
In his remarks, the acting Corps Marshal of the FRSC, Mr Dauda Biu, stated the importance of officers of the corps being financially literate.
Represented by Corps Commander, Mr Anume Osuamkpe, he said Nigerians would only be able to avoid fraudulent investment schemes if they have the requisite knowledge.
“This training is very important as it will enable staff of the FRSC to have knowledge of the workings of these fraudulent schemes and know how to avoid them.
“It will also help them know the products available in the capital market and aid them in taking decisions of how to invest their funds wisely,” he stated.
Mr Biu lamented that many Nigerians had lost huge sums of money to these Ponzi schemes as the operators approach victims with mouth-watering offers that are sometimes too difficult to resist.
“But with programmes like these, Nigerians will be able to know the right investments and how to access such investments in the capital market,” he added.
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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