Economy
FMDQ Fixed Income Currency Operations Rise 13.7% in July
By Adedapo Adesanya
FMDQ Securities Exchange achieved a 13.7 per cent growth in its turnover in its Fixed Income and Currency (FIC) operations in the month of July.
Data from the exchange said the turnover for the month rose to N18.7 trillion from N16.5 trillion achieved in June 2020.
Giving a breakdown, a report from FMDQ indicated that open market operations (OMO), money market transactions and unsecured placements remained the highest contributors to the FIC markets in the month under review.
Specifically, they all accounted for 60.2 per cent of the total FIC market turnover against 55.4 per cent posted in the preceding month.
The report stated that total foreign exchange (FX) market turnover stood at $10.8 billion or N4.20 trillion, indicating a month-on-month increase of 25.4 per cent against $8.63 billion or N3.34 trillion in June.
Further analysis of the FX market turnover indicated that FX Derivatives accounted for 70.3 per cent ($1.5 billion) of the total month-on-month increase in FX market turnover achieved in July.
In the Over-the-Counter (OTC) foreign exchange (FX) futures market, the near month contract (NGUS JUL 29 2020) with a total outstanding notional value of $1.37 billion matured and was settled, while a new long-term (60-month) contract, (NGUS JUL 30 2025) was introduced at a rate of N581.52/$.
The exchange noted that “On July 7, the Central Bank of Nigeria (CBN) Official Spot US$/N exchange rate closed at N381/$, representing a decrease of $/N20 in the Official Spot FX rate compared to the closing rate of N361/$ as at July 6, 2020.
“Further, this represents the first $/N FX rate devaluation by the CBN since March 20, 2020, when the Official Spot FX rate was adjusted to N361.00 per Dollar from N307/$.
“Consequently, the CBN Official Spot FX rate closed at an average of N377.19/$ in July 2020, representing a decrease of 4.48 per cent (N16.19/$) from N361.00/$ recorded in June 2020.
“At the Investors’ and Exporters’ (I& E) FX Window, the Naira depreciated against the US Dollar, losing 0.28 per cent (N1.09/$) to close at an average of N387.48/$ in July 2020 from N386.39/$ recorded in June.
“Similarly, in the parallel market, the Naira depreciated against the US Dollar losing 3.38 per cent (N15.29/$) to close at an average of 467.67/$ in July 2020 from 452.38/$ recorded in June.”
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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