Economy
Financial Services Sector Lead NGX Activity Chart
By Dipo Olowookere
Last week, the financial services sector led the activity chart of the Nigerian Exchange (NGX) Limited with 6.497 billion shares valued at N87.381 billion traded in 56,148 deals, contributing 88.69 per cent and 55.86 per cent to the total trading volume and value, respectively.
The sector was trailed by the consumer goods space with 180.775 million shares worth N12.015 billion in 16,378 deals, and the services segment posted a turnover of 138.365 million shares sold for N2.402 billion in 7,869 deals.
Data showed that investors bought and sold 7.325 billion shares worth N156.425 billion in 134,383 deals in the five-day trading week compared with the 3.575 billion shares valued at N107.011 billion transacted in 146,429 deals a week earlier.
The trio of Cornerstone Insurance, Access Holdings, and Zenith Bank accounted for 4.752 billion shares worth N41.132 billion in 14,304 deals, contributing 64.87 per cent and 26.29 per cent to the total trading volume and value apiece.
Business Post reports 48 equities appreciated versus 20 equities in the previous week, 45 equities depreciated compared with 75 equities in the preceding week, and 53 equities remained unchanged, in contrast to the 51 equities in the previous week.
NCR Nigeria topped the activity chart with a 32.30 per cent growth to close at N25.60, Aso Savings grew by 14.44 per cent to N1.03, Champion Breweries rose by 11.54 per cent to N14.50, International Energy Insurance expanded by 11.48 pr cent to N2.72, and Secure Electronic Technology improved by 10.67 per cent to 83 Kobo.
Conversely, Union Dicon lost 18.71 per cent to N6.30, Austin Laz depleted by 18.62 per cent to N2.36, Multiverse slipped by 14.47 per cent to N10.05, Dangote Cement dropped 10.00 per cent to trade at N594.00, and Academy Press tumbled by 10.00 per cent to N6.75.
As for the key performance indices, the All-Share Index (ASI) was down by 1.68 per cent to 147,013.59 points and the market capitalisation depreciated by 1.58 per cent to N93.501 trillion.
Similarly, all other indices finished lower with the exception of NGX CG, banking, pension, insurance, AFR Div. Yield, AFR Bank Value, MERI Growth, MERI Value, consumer goods, growth and sovereign bond indices, gained 0.74 per cent, 1.26 per cent, 0.29 per cent, 2.42 per cent, 2.18 per cent, 1.34 per cent, 1.71 per cent, 2.00 per cent, 0.46 per cent, 0.14 per cent and 0.12 per cent, respectively.
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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