Economy
Naira Depreciates to N460/$1 at Black Market, BDC
By Adedapo Adesanya
The value of the Nigerian Naira against the United States Dollar depreciated by N5 at the black market on Monday to N460/$1 from N455/$1 it was exchanged last Friday.
Also, the local currency lost N5 against the British Pound Sterling at the same parallel market yesterday to sell for N590/£1 in contrast to N585/£1 it traded previously and depreciated by N10 on the Euro to close the day at N530/€1 versus N520/€1.
Business Post reports that despite the Central Bank of Nigeria (CBN) selling over $150 million to Bureaux De Change (BDC) operators since the resumption of forex sales last Monday, the Naira is still struggling to find its feet at the segment of the foreign exchange market.
Yesterday, according to data from the Association of the Bureaux De Change Operators of Nigeria (ABCON), the domestic currency depreciated against the Dollar in Lagos by N4 to trade at N460/$1 compared with N454/$1 it traded previously.
Against the Pound, the domestic currency lost N13 at the opening day of the new week to close at N598/£1 in contrast to the previously traded rate of N585/£1 while against the Euro, it lost N5 to quote at N535/€1 as against N530/€1 it quoted last Friday.
At the nation’s capital, Abuja, the local currency registered a depreciate of N7 against the greenback on Monday to sell for N461/$1 as against N454/$1 of the previous session. On the Pound, the local currency depreciated by N25 to close at N605/£1 versus N580/£1 and declined by N20 on the Euro to trade at N535/€1 versus the previous rate of N515/€1.
In Port Harcourt, the domestic performed poorly against the US Dollar as it lost N4 to quote at N460/$1 compared with N456/$1 it traded last Friday but closed flat against the Pound at N603/£1 and depreciated against the Euro by N14 to N534/€1 from N520/€1.
At the Kano BDC market, the Naira traded flat against the Dollar yesterday at N440/$1. The value also remained unchanged against the Pound and Euro at N585/£1 and N515/€1 respectively.
The domestic currency also maintained its stability against the American currency at the interbank segment of the forex market on Monday at N379/$1.
At the Investors and Exporters (I&E) window, the Naira traded flat against the Dollar at N386/$1 yesterday amid a 1540.6 per cent or $319.82 million spike in the demand for forex at the window to $340.58 million from the previous session’s $20.76 million.
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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