Economy
Excitement As Kwara Senator Rolls Out Programs For Women, Youth

By Modupe Gbadeyanka
The Senator representing Kwara South Senatorial District at the National Assembly, Mr Rafiu Adebayo Ibrahim, has launched a foundation aimed at giving empowerment to youth and women in the state.
Speaking at the unveiling of the Rafiu Ibrahim Bilal (RIB) Foundation in Offa, Kwara State on Sunday, the lawmaker emphasised that the foundation will focus on educational support and entrepreneurship education; empowerment of indigent youth and women; and enterprise development services.
At the occasion also to mark his 50th birthday, the Senator noted that he was inspired to start the foundation after reflecting on his “humble beginning.”
Describing himself as “fortunate”, the amiable and easy-going Senator revealed that though “growing up was difficult” for him, he, however, “remained focused and determined to achieve greatness.”
The respected and big-hearted lawmaker also stressed that his decision to start a foundation did not just happen, pointing out that he has “been doing [it] for many years”, but only felt like taking it to “another dimension.”
“RIB FOUNDATION is targeted at giving back to my community either while in office or out of office. We are also in partnership with the recently launched Saraki Employment and Empowerment Centre for Skill-acquisition, Training Empowerment Programme (SEEC-STEP) of our leader, distinguished Senate President, Dr Abubakar Bukola Saraki, to provide jobs for 40,000 Kwarans.
“In my own capacity, Kwara South-STEP, as part of our programme under RIB FOUNDATION, targets 8,000 Kwara Southerners in four years to reduce poverty and unemployment in line with the current economic reality in the country now.
“This and many other programmes under RIB FOUNDATION and our regular empowerment, bursary, scholarship awards, business financial supports, health bills, provision of school fees and books for our students etc are what I pray to continue to do for the rest of my life. I pray this should not be the end of it, Amin,” he said at the occasion also witnessed by the Senate President and other political bigwigs in the state.
Senator Ibrahim showered praises on the Saraki political dynasty, praying for God’s increased protection and divine guidance on Dr Bukola Saraki.
Recalling his foray into politics, the lawmaker narrated that it started in in 2009, when late Olusola Saraki (Senate President’s father) “endorsed me for the Kwara State House of Assembly to represent Oke-Ogun Constituency.
“That day, Baba Saraki told all the stakeholders from Oyun LGA that I was one of the most trustworthy persons he had met in his life time.
“I was moved to tears and vowed never to disappoint my destiny which had brought me this unimaginable favour from such a man of unquantifiable and unequalled greatness.
“Behold, with his endorsement, I was elected a Member of Kwara State House of Assembly for Oke-Ogun Constituency of Oyun Local Government Area in a re-run election in 2009 after the demise of Raufu Lambe. (RIP)
“As destiny would have it, my election in to the state Assembly was just a precursor that shot me into the National politics. In 2011, I was elected into the National Assembly, as a Federal Honourable of the House of Representatives to represent Ifelodun/Offa/Oyun Federal Constituency.
“Four years later, despite the hullabaloo in the polity of our country, our Leader, Dr Abubakar Bukola Saraki gave me the nod to consider the seat for the Kwara South Senatorial District.”
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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