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73% of Nigerians Would Put Spare Cash into Savings—Report

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Retirement Savings Account

By Dipo Olowookere

A new report released by Nielsen Africa, which measures Consumer Confidence Index (CCI) in some countries on the continent, said things were not to rosy for Nigeria in the second quarter of 2019 because the country’s index slightly increased by one point to 127 unlike its West African neighbor, Ghana, which gained 10 points to settle at 118.

The 127 points reached by Nigeria, according to a summary of the report made available to Business Post, remains the highest confidence level for the country since the first quarter of 2016.

“Following a turbulent period in its history, Nigeria’s economic recovery is gaining momentum with GDP expected to grow slightly to 2.5 percent year on year, off the back of moderate improvements in net exports and domestic demand. Nigerians are optimistic about their future and this is reflected in the confidence scores,” Nielsen MD for Nigeria, Mr Ged Nooy, commented.

Looking at the consumer picture, Nigerians immediate-spending intentions have shown a healthy increase; with 54 percent of consumers versus 46 percent in the previous quarter saying now is a good or excellent time to purchase what they want or need.

However, their perception around job prospects have slightly declined, with 60 percent viewing them as excellent or good, a nine-point drop from the previous quarter.

It was stated that sentiment around the state of personal finances has shown a slight improvement with 82 percent Nigerians agreeing their state of personal finances will be excellent or good over the next year, a one-point increase from the previous quarter.

Looking at whether Nigerians have spare cash to spend, 51 percent said yes, versus 55 percent in the previous quarter.

In terms of their spending priorities, once they meet their essential living expenses, 76 percent would invest in home improvements/ decorating, 73 percent would put their spare cash into savings and 66 percent say they will invest in shares/mutual funds.

Surprisingly, in light of their propensity towards savings and investment, the lowest number 39 percent said they would put their spare cash into retirement funds.

Looking at the top concerns for Nigerians over the next six months, work/life balance tops the list with 27 percent (a six-point increase compared to the previous quarter) and has displaced political stability as the number one concern for Nigerians.

This is followed by increasing food prices at 22 percent (a one-point increase compared to Q1’19) and the economy at 20 percent (a four-point increase compared to the previous quarter)

Elaborating on these results, Mr Nooy said, “Nigerian consumers are positive and open to spending, however, the country’s retail environment continues to feel the effects of steep inflation. Manufacturers and retailers will therefore need to tackle this challenge head on, to harness the true value of Nigeria’s powerful consumer base.”

On the part of Ghana, its CCI for the second quarter of 2019 showed an extremely healthy increase of 10 points to 118.

Looking at Ghana’s overall performance, Nielsen Market Lead for West Africa, Yannick Nkembe said, “Ghana is currently the poster child for African economic growth and positive consumer sentiment. The International Monetary Fund estimates its GDP will rise 8.8 percent this year – double the pace of emerging economies as a whole, and well ahead of world growth.

“This is a result of factors such as expanding crude oil production, a stable democracy and the introduction of a more favourable taxation structure. Ghana’s manufacturing industry has also been boosted by policies aimed at diversifying the economy and preventing an over-reliance on the commodity markets.”

This overall positive outlook is reflected by Ghanaian consumers’ greatly improved view of their job prospects, with a 10-point increase to 63 percent, saying they will be excellent or good in the next six months.

In terms of the state of their personal finances over the next 12 months, 74 percent say excellent or good up from 70 percent and the number of Ghanaian consumers who feel now is a good or excellent time to purchase has also seen a large increase quarter on quarter, from 34 percent to 46 percent.

Looking at whether Ghanaians have spare cash, 52 percent say yes, up nine points from the previous quarter. Once they meet their essential living expenses, the highest number of consumers (82 percent) put their spare cash into savings, followed by 72 percent on home improvements/decorating and 67 percent who invest in stocks and mutual funds.

When looking at the real life factors that are having a negative impact on Ghanaians outlook, the top concerns over the next six months include work/life balance at 24 percent; the same figure as the last quarter, rising food prices at 22 percent (dropped by three points compared to Q1’19) and tolerance towards different religions, also at 22 percent (increased by one percent since the previous quarter), and children’s education and welfare at 18 percent which has seen a 2-point increase.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

NGX Group’s 65th Annual General Meeting Holds April 29

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NGX Group Shares

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.

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Economy

BNB Price Reflects Changing Dynamics in the Digital Asset Market

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BNB price

Digital asset markets have slowed, though not in a dramatic way. Things are still moving, just not with much urgency. The BNB price reflects that shift, sitting within a tighter range as broader conditions begin to shape behavior more than short bursts of demand.

It can feel uneventful at first. No strong push higher, no sharp drop either. But the movement is still there. It just does not travel far. A rise begins, then fades. A dip forms, then steadies again. It repeats more than you might expect.

That pattern tends to linger. Sometimes longer than people anticipate, especially when there is no clear reason for it to change quickly.

BNB Price Movement Reflects Exchange-Driven Demand

BNB does not behave like assets that rely purely on outside demand. Its connection to the Binance ecosystem changes that.

Usage matters here. Trading activity, transaction volume and general platform engagement all feed into how BNB is used. That connection is not always obvious in the short term, but it sits underneath everything.

Sometimes it shows up clearly. Other times it does not. The relationship is there either way.

When activity holds steady, price often follows that tone. It does not surge, but it does not weaken much either. It stays somewhere in the middle, supported without needing strong momentum. It reflects usage more than speculation in many cases.

Market Conditions Continue to Shape Price Behaviour

There is also the wider market to consider. Binance has pointed out that liquidity remains tight, with capital concentrating in a smaller number of assets.

Bitcoin still holds close to 59% of the market. Ethereum sits much lower, around 11.8%. After that, the drop-off becomes more noticeable. Smaller assets make up far less than they once did. That shift matters. It changes how everything moves.

When capital gathers like this, movement tends to compress. Prices still change, but not as freely. It becomes harder for assets to break away from the general pattern.

BNB is part of that. It does not sit outside these conditions. It moves with them more often than against them.

BNB Utility Remains Central to Its Value

There is also the question of utility, which tends to be discussed but not always fully understood.

BNB is used across the Binance ecosystem in practical ways. Fees, transactions, access to services. These are not abstract use cases. They happen regularly, even when markets feel quiet.

That kind of activity does not always push prices higher. But it does create a base level of demand. Something that holds, rather than drives.

Over time, that can matter more than short bursts of interest. It gives the asset a different kind of stability. Not fixed, but less reactive. That difference tends to show up more clearly over longer periods.

Institutional and Retail Activity Remain Balanced

Participation is mixed. Institutional involvement has increased, but it does not dominate. Retail activity is still there and often more visible in certain phases. Neither side controls the market on its own. That is part of why movement feels less defined.

At times, it can seem like different forces are pulling in slightly different directions. Not enough to create volatility, but enough to prevent a clear trend from forming.

So price moves, then pauses. Moves again, then settles. It continues like that, without fully committing to either direction.

Global Participation Continues to Expand

Outside of price, participation continues to grow. Estimates suggest global cryptocurrency users are now approaching 860 million, reflecting continued expansion across digital asset markets.

That kind of growth does not always appear in charts straight away. It builds slowly. People enter the space, others remain active and usage continues in ways that are not always easy to track day to day.

BNB sits within that broader expansion. As the ecosystem grows, so does the potential for continued use. It is not immediate. It rarely is. But it accumulates over time. That gradual build tends to matter more than short-term spikes.

Local Economic Conditions Add Perspective

Broader economic conditions still play a role. Inflation remains around the mid-teen range, which suggests the environment is stabilizing, though not completely settled.

That kind of backdrop tends to influence behavior. When conditions feel uncertain, decisions become more measured.

It does not directly control how BNB moves. But it helps explain the pace. Why do things feel slower, more contained? Markets do not exist in isolation, even when they seem separate. External factors tend to feed in gradually.

Right now, the market feels balanced more than anything else. The B&B price reflects that. Not pushing higher, not dropping away. Just holding.

There is still activity underneath. Usage continues. Participation grows. Liquidity shifts, even if it is not always visible.

For now, BNB is sitting in that middle space. Not doing too much, but not losing ground either. It might not stand out. But these phases tend to matter more than they first seem. Over time, they often shape what comes next, even if that is not immediately obvious.

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Economy

NASD Unlisted Security Index Crosses 4,000-point Benchmark Again

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NASD Unlisted Security Index

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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