Economy
NSE Delists Afrik Pharmaceuticals, African Paints Nigeria
By Dipo Olowookere
Two companies trading on the floor of the Nigerian Stock Exchange (NSE); Afrik Pharmaceuticals Plc and African Paints (Nigeria) Plc have been delisted from the Daily Official List of the NSE.
The de-registration of the firms were approved by the Quotations Committee of the National Council of the NSE (QCN) on Friday, March 9, 2018.
However, the delisting took effect from April 5, 2018, in pursuant to Clause 15 of the General Undertaking, Appendix iii of the Rule Book of The Exchange, 2015 (Issuers?Rules).
A statement issued by the NSE said the affected companies have been notified of this action as well as members of the public, shareholders and investors in the Nigerian capital market.
The shares of African Paints were last traded on the NSE on May 26, 2017, according to data on the exchange and 500,000 units were traded on that day.
However, its last ex-div was on January 16, 2001, same date as the last ex-scrip.
For the shares of Afrik Pharmaceuticals, they were last traded on September 16, 2015 when 1,000 units were sold 50 kobo each.
The last ex-div date of the firm was June 11, 2003 for a five kobo dividend paid on July 3, 2003, while the last ex-scrip date was September 10, 2001.
It was gathered that before both firms were delisted, the management of NSE met with executives of the companies, where they were informed of dangers of not adhering to the listing rules.
But the NSE said the affected firms did not make amends or even take steps towards a delisting notice issued on October 13, 2016.
The stock market regulator said it later notified the companies of its intention to delist them from the Daily Official List for non-compliance with provisions of the Post Listing Rules on April 11, and via two newspaper publications on April 20, 2017.
“The Exchange in the publication granted an additional three months to the listed companies above (to) cure their compliance deficiencies,” which they still failed to utilize.
These, notwithstanding, the NSE said it continued to engage the companies but that they did not take to the requisite steps to become compliant and that having exhausted all options available, it has proceeded with the delisting of these entities from the Daily Official List.
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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