Economy
ASEN Will Enable Capital Market Policies, Boost Efficiency—Onyema
By Modupe Gbadeyanka
Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr Oscar Onyema, has described the launch of Nigeria’s first association of domestic securities exchanges as a good development for the nation’s capital market.
According to him, “Coming together provides a wealth of benefits for the ecosystem,” which he said will in turn strengthen the market and be beneficial to investors.
On Wednesday, the Association of Securities Exchange of Nigeria (ASEN) was officially launched at the Nigerian Stock Exchange event centre in Lagos.
The event was attended by Chairman, House of Representatives Committee on Capital Markets and Institutions, Mr Yusuf Tajudeen; Acting Director-General of the Securities and Exchanges Commission (SEC), Mrs Mary Uduk; Director-General of the Debt Management Office (DMO), Mrs Patience Oniha and the President, National Council of the NSE, Mr Abimbola Ogunbanjo.
ASEN was incorporated in 2017 as a non-profit industry association to support the advancement of the Nigerian capital market and the development of members via knowledge-sharing, collaboration, capacity-building and advocacy.
It was also established to accelerate the development of domestic securities exchanges and support the Nigerian capital market to achieve greater global competitiveness.
The group is made up of five bodies; AFEX Commodities Exchange (AFEX), FMDQ OTC Securities Exchange (FMDQ), NASD OTC Securities Exchange (NASD), Nigeria Commodity Exchange (NCX) and NSE.
Speaking at the ceremony, Mr Onyema, who is also Chairman of ASEN Board of Trustees, disclosed that, “This event is the culmination of deliberate efforts between the various exchanges in the Nigerian capital market to enhance our global competitiveness.”
According to him, “ASEN is not only Nigeria’s premier exchange association–but also the world’s first example of a national exchange association. In coming together we had to ask ourselves tough questions relating to how we, as exchanges and businesses, can collaborate more closely to ensure the competitiveness of our market, and support the growth of individual members along their natural trajectories.”
He said further that, “ASEN is poised to support and partner with market participants by advocating for enabling market policies; amplifying financial outreach and capacity-building efforts of member exchanges; and deploying emerging technologies that can unlock new opportunities and efficiencies in our market.
“Ultimately key stakeholders in the Nigerian capital market -regulators, issuers, investors and operators will be the real beneficiaries of our collaborative efforts. Like exchange associations, such as the WFE and ASEA, we hope that ASEN will provide a sterling example of the progress that can be achieved when forces combine to achieve positive change.”
Also speaking at the event, Mr Bola Ajomale, Member, Board of Trustees, ASEN and CEO, NASD Plc, stated that, “This event is the culmination of deliberate cooperation between the various exchanges in the Nigerian capital market.
“Collaboration between exchanges in this manner will ensure some level of uniformity and consistency in governance whilst allowing each member to continue along its natural trajectory.
“Ultimately key stakeholders in the Nigerian capital market – Regulators, issuers, investors and operators will be the real beneficiaries. We also believe the existence of such an association will significantly support market structure in Nigeria.”
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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