Economy
Naira Appreciates to N388/$1 at Investors Segment Monday
By Adedapo Adesanya
The Naira began the week on a positive note on Monday, appreciating against the US Dollar by N1.25 or 0.32 per cent to close at N388/$1 at the Investors and Exporters (I&E) segment of the foreign exchange (forex) market.
At the previous trading session, the domestic currency had traded against its American counterpart at 388/$1 at the same market window.
The value of the Naira was boosted against the Dollar yesterday as a result of the ease in the pressure on the local currency at the market.
During the day’s trading session, there was an 8.5 per cent or $1.6 million decline in the demand for forex by investors, who only carried out trades valued at $17.23 million compared with the previous $18.83 million.
At the parallel market, the Naira also gained against the Dollar by N2 to close at N473/$1 compared to N475/$1 of the previous session.
However, against the Pounds, the Naira dropped N5 to close at N590/£1 compared to N585/£1 it traded previously and lost N2 on the Euro to trade at N542/€1 compared to N540/€1 last week.
At the Bureaux De Change (BDC) segment of the forex market on Monday, in the city of Lagos, the domestic currency appreciated against the greenback by 50 kobo to sell for N472.50/$1 in contrast to the last session’s N473/$1.
Against the Pound, the local currency depreciated by N6 to close at N595/£1 versus the preceding session’s rate of N589/£1 and traded flat against the Euro at N543/€1.
In Abuja, the Nigerian currency appreciated against the US Dollar by N5 to trade at N471/$1 versus the previous rate of N476/$1. Against the Pound, it gained N14 to close at N576/£1 compared with N590/£1 and also gained N20 against the Euro to close at N530/€1 as against the previous N550/€1.
Furthermore, the local currency closed flat against the Dollar, Pound and Euro at the Kano BDC market on Monday at N473.50/$1, N575/£1 and N540/€1.
At the Port Harcourt market, the domestic currency gained 50 kobo against the greenback to close at N472/$1 compared to N472.50/$1 and against the Pound, it gained N4 to close at N581/£1 versus the previous session’s N585/£1, while against the Euro, it appreciated by N1 to close at N536/€1 versus N537/€1.
At the interbank window of the market, the official exchange rate of the Naira/Dollar remained at N381/$1 yesterday.
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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