Economy
OPay Nigeria Picks Ex-CBN Director Daudu Gotring as CEO
By Adedapo Adesanya
OPay Nigeria has appointed Mr Daudu Gotring, a former director at the Central Bank of Nigeria (CBN), as its chief executive following the resignation of Mr Olu Akanmu from the position after his two years stint at the company.
Mr Akanmu, who held the role of the chief executive officer (CEO) of the digital bank, stepped down from the position as the company is celebrating its 5th anniversary in the country.
The appointment of Mr Gotring is subject to regulatory approval, which is the CBN, according to a statement seen by Business Post.
The former director of the Trade and Exchange Department of the apex bank also contested for the Plateau State gubernatorial seat in the last Nigerian general elections under the People’s Democratic Party (PDP).
“Mr Gotring, a veteran in the financial services industry, will continue to steer the Opay ship in the direction of even greater strides,” the company said in the statement.
Although Mr Akanmu did not give any reason he was leaving the organisation, which he joined in November 2021, he lauded the milestones he helped carry out at the fintech company, which saw OPay grow to over 30 million users, 500,000 agents, and more than 300,000 merchants in the last five years of operation.
“My gratitude to all my colleagues for the good work we did deepening financial inclusion in Nigeria and ensuring that less and less number of people are left out in partaking out of the opportunities of the digital financial system,” he said.
In November 2021, the firm appointed Mr Akanmu, a former FCMB Executive Director for Retail Banking, as the new president and co-CEO of Opay. Prior to his appointment, Opay operations in Nigeria were led by Mr Yahui Zhou, chairman and co-CEO of Opera, and Mr Iniabasi Akpan, the then Nigeria Country Manager of Opay.
Earlier this year, during the cash crunch in Nigeria, Opay recorded remarkable growth taking a position as one of the two most downloaded finance apps on Google Play Store in Nigeria.
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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