Economy
Citi Trust, Two Others Improve Alternative Stock Exchange by 0.09%
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange continued its bullish run this week by rising further by 0.09 per cent on Tuesday, June 7, with the trio of NASD Plc, FrieslandCampina WAMCO Nigeria and Citi Trust Plc behind the gains.
They increased the market capitalisation of the alternative stock exchange by almost N1 billion to N1.003 trillion from the previous day’s N1.002 trillion and lifted the NASD Unlisted Securities Index (NSI) by 0.68 points to 761.92 points from the 761.24 points achieved a day earlier.
Business Post reports that NASD Plc led the gainers’ gang during the session after its price inflated by 7.14 per cent or N1 to settle at N15.00 per unit as against N14.00 per unit of the previous session, FrieslandCampina WAMCO Nigeria Plc continued its recovery with a 59 kobo or 0.62 per cent improvement to sell at N95.59 per share versus Monday’s N95.00 per share, while Citi Trust Plc posted a 30 kobo or 5.46 per cent appreciation to quote at N5.80 per unit in contrast to the preceding session’s N5.50 per unit.
The unlisted securities market recorded a single price decliner at the session and it was Central Securities Clearing System (CSCS) Plc, which lost 20 kobo or 1.27 per cent to close at N15.50 per share compared with the N15.70 per share it traded a day earlier.
As for the activity chart, it recorded an improvement as the volume of shares surged by 7,646.6 per cent to 11.9 million units from 153,075 units, the value of securities transacted by investors also increased by 1,914.0 per cent to N234.4 million from the preceding day’s N11.6 million, while the number of trades executed by market participants increased by 166.7 per cent to 24 deals from Monday’s nine deals.
The most traded stock by volume (year-to-date) remained AG Mortgage Bank Plc with the sale of 2.3 billion units worth N1.2 billion, followed by CSCS Plc with 672.7 million units worth N14.0 billion and Food Concepts Plc with 146.0 million units valued at N126.7 million.
Equally, the most traded security by value (year-to-date) was still CSCS Plc with 672.7 million units valued at N14.0 billion, followed by VFD Group with 9.6 million units worth N2.9 billion and FrieslandCampina WAMCO Nigeria Plc with 9.3 billion units valued at N1.2 billion.
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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