Economy
Equities Remain Down as Investors Lose N11b
By Modupe Gbadeyanka
Investors at the Nigerian stock market lost N11 billion on Thursday following decisions by some of them to sell-off their holdings.
This further deepened the Nigerian Stock Exchange (NSE) in the negative territory and made it the third consecutive time this week that the market was closing bearish.
At the close of transactions yesterday, the stock market was down by 0.09 percent with the year-to-date loss standing at 15.22 percent.
Specifically, the All-Share Index (ASI) went down by 30.46 points to close at 32,423.57 points, while the market capitalisation decreased by N11 billion to finish at N11.837 trillion.
Business Post reports that the loss recorded by the local bourse yesterday mainly due to the fall in the value of Okomu Oil and 18 other companies trading their shares at the exchange.
For example, Okomu Oil lost N3.80k of its share value to close the day at N73.20k per share, leading the top losers’ chart as a result of this.
It was followed by Nigerian Breweries, which depreciated by N2.50k to end at N86.50k per share, and GlaxoSmithKline, which went down by 50 kobo to settle at N14 per share.
Ecobank fell by 35 kobo to close at N17.50k per share, while Dangote Sugar depreciated by 15 kobo to end at N14.35k per share.
However, a total of 18 stocks appreciated in price on Thursday with CCNN leading the pack after increasing by N1.80k to settle at N25 per share.
It was trailed by Forte Oil, which rose by 70 kobo to end at N22.10k per share, and Zenith Bank, which went up by 60 kobo to close at N22.40k per share.
Cutix grew 43 kobo to end at N4.73k per share, while Flour Mills jumped by 20 kobo to hang at N19.95k per share.
Unlike the previous session, the volume and value of transactions yesterday went up by 10.69 percent and 7.82 percent respectively.
A total of 151.4 million shares worth N1.5 billion exchanged hands on Thursday in 2,356 deals compared with the 136.7 million equities valued N1.4 billion traded on Wednesday in 2,889 deals by investors.
These trades were buoyed by the Financial Services sector, which accounted for 109.1 million shares worth N1 billion, and the Consumer Goods industry, which traded 21.1 million equities value at N389 million.
At the end of the day, FCMB maintained its spot as the most traded stocks at the market, selling 28.9 million units worth N49.9 million.
Fidelity Bank followed with 19.1 million units of its shares sold for N35.5 million, while GTBank exchanged 18.2 million units valued at N671.8 million.
NASCON traded 17.1 million equities for N316.3 million, while RT Briscoe transacted 6.6 million shares worth N2.8 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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