Economy
Naira Appreciates Against Dollar at BDC Window
By Adedapo Adesanya
With plans to resume the weekly sale of forex to operators at the Bureaux De Change (BDC) segment of the foreign exchange market by the Central Bank of Nigeria (CBN) underway, the Naira appreciated against the US Dollar on Friday.
The local currency, which had faced pressures in the past few weeks, was strengthened against the greenback yesterday at the key BDC locations across the country; Lagos, Abuja, and Port-Harcourt.
Market analysts have predicted a crash in rates at the segment as soon as the apex bank resume the forex sales because of the instructions it gave to operators at the window on the price limit.
Data from Association of Bureaux De Change Operators of Nigeria (ABCON) yesterday indicated that in Lagos, the local currency gained 70 kobo on the Dollar on trade at N476.30/$1 compared with N477/$1 it sold at the previous session.
However, against the Pound, the local currency shed N1.50 to sell at N618.50/£1 compared to the previous rate of N617/£1 and closed flat on the Euro to settle at N552/€1.
In Abuja, the local currency appreciated against the US Dollar by N3 to close at N474/$1 versus N477/$1 of the preceding session, while against the Pound, it gained N3 to close at N617/£1 versus N620/£1 and depreciated by N5 on the Euro to trade at N560/€1 in contrast to the previous rate of N555/€1.
At the Port Harcourt BDC market, the domestic currency appreciated by N4 against the Dollar to sell for N472/$1 in contrast to the prior rate of N476/$1 and against the Pound, the Naira gained N7 to close at N612/£1 versus N617/£1 of the previous session, while it appreciated by N8 against the Euro to trade at N545/€1 versus N553/€1.
But at the Kano BDC market, the domestic currency maintained stability against the Dollar, Pound and Euro to finish at N477/$1, N608/£1 and N552/€1 respectively.
A look at the performance of the Nigerian currency against the greenback at the Investors and Exporters (I&E) segment of the market on Friday indicated that it appreciated by 8 kobo or 0.02 per cent to close at N385.67/$1 compared with N385.75/$1 of the previous session.
During the trading day at the investors’ window, data showed that there was a drop in the demand for the greenback by $31.07 million or 72 per cent as the transaction turnover reduced to $12.09 million from the previous day’s $43.16 million.
At the interbank segment, the value of the Naira against the Dollar remained static at N379/$1 and at the parallel market, the local currency closed flat against the greenback at N477/$1. It further remained unchanged against the Pound and Euro at N615/£1 and N555/€1 respectively.
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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