Economy
CWG, Juli, Others Revive Stock Exchange by 0.32%
By Dipo Olowookere
The local stock exchange bounced back by 0.32 per cent on Wednesday after investors chew through the interest rate hike by the Central Bank of Nigeria (CBN) the previous day.
After perusing the implication of the CBN’s action on the economy and the market, traders embarked on bargain-hunting, helping the Nigerian Exchange (NGX) Limited to finish in the green territory at the close of transactions.
The banking index grew by 3.01 per cent in the midweek, the insurance counter appreciated by 0.12 per cent, and the industrial goods space rose by 0.07 per cent, while the consumer goods counter depreciated by 0.11 per cent, with the energy sector closing flat.
When trading activities ended for the day, the All-Share Index (ASI) went up by 331.17 points to 104,283.64 points from 103,952.47 points, and the market capitalisation increased by N187 billion to N58.963 trillion from N58.776 trillion.
Investor sentiment was bullish on Wednesday after the bourse ended with 29 price gainers and 20 price losers, representing a positive market breadth index.
CWG was the biggest price gainer during the session after it improved its value by 10.00 per cent to N7.15, Juli rose by 9.97 per cent to N9.49, FTN Cocoa expanded by 9.94 per cent to N1.77, Consolidated Hallmark jumped by 9.72 per cent to N1.58, and Livestock Feeds grew by 9.70 per cent to N1.81.
Conversely, Northern Nigerian Flour Mills ended the day as the biggest price loser after it shed 9.97 per cent to trade at N48.30, Prestige Assurance depreciated by 9.68 per cent to 56 Kobo, Omatek fell by 8.86 per cent to 72 Kobo, Veritas Kapital weakened by 8.57 per cent to 64 Kobo, and May & Baker declined by 8.33 per cent to N5.50.
A total of 488.6 million equities worth N12.2 billion exchanged hands in 10,171 deals yesterday compared with the 374.4 million equities valued at N11.3 billion traded in 8,689 deals the previous day, representing an improvement in the trading volume, value, and the number of deals by 30.50 per cent, 7.97 per cent, and 17.06 per cent apiece.
Access Holdings closed the day as the busiest stock after it transacted 83.6 million units valued at N2.0 billion, Zenith Bank traded 53.2 million units worth N2.3 billion, UBA exchanged 49.7 million units valued at N1.4 billion, GTCO traded 49.5 million units worth N2.5 billion, and Transcorp sold 48.1 million units for N646.5 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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