By Adedapo Adesanya

Okitipupa Plc continued its positive run at the NASD Over-the-Counter (OTC) Securities Exchange on Tuesday, March 4, 2025, joining others to help the bourse gain additional 0.82 per cent.

The company chalked up N23.60 during the trading session to settle at N259.60 per unit versus N236.00 per unit, Nipco Plc added N16.51 to close at N181.63 per share compared with the preceding day’s N165.12 per share, and Central Securities Clearing System (CSCS) Plc gained 35 Kobo to close at N23.39 per unit, in contrast to the N23.04 per unit it was transacted a day earlier.

On the flip side, the price of Geo Fluids Plc went down yesterday by 29 Kobo to quote at N2.91 per share compared with Monday’s closing price of N3.20 per share.

When the alternative stock exchange closed for the day, the NASD Unlisted Security Index (NSI) rose by 27.12 points to close at 3,338.32 points compared with the preceding session’s 3,311.20 points, and the market capitalization increased by N15.36 billion to N1.891 trillion from N1,875 trillion.

During yesterday’s session, the volume of securities transacted by investors slumped by 4.0 per cent to 571,155 units from the 595,005 units transacted in the previous trading day.

Also, the value of securities slid by 51.7 per cent to N8.6 million from N17.9 million, while the number of deals went up by 47.1 per cent to 25 deals from 17 deals recorded on Monday.

Impresit Bakolori Plc finished the trading day as the most active stock by volume on a year-to-date basis with 533.9 million units worth N520.9 million, followed by Industrial and General Insurance (IGI) Plc with 69.7 million units worth N23.6 million, and Afriland Properties Plc with 17.2 million units sold for N352.3 million.

In the same vein, Impresit Bakolori Plc was the most active stock by value on a year-to-date basis with a turnover of 533.9 million units worth N520.9 million, trailed by FrieslandCampina Wamco Nigeria Plc with the sale of 9.6 million units valued at N377.9 million, and Afriland Properties Plc with 17.2 million units sold for N352.3 million.

By Aduragbemi Omiyale

The Debt Management Office (DMO) has reappointed Stanbic IBTC Stockbrokers as the official stockbroker of the federal government.

As the government stockbroker, the firm will continue to play a critical role in ensuring smooth debt issuances, market operations, enhancing market liquidity, and supporting the DMO’s strategic objectives.

This role is critical for maintaining investor confidence and ensuring effective monetary policy implementation through seamless bond auctions and sales.

The company’s team of seasoned professionals brings a wealth of experience, leveraging deep market insights and strong analytical capabilities to deliver exceptional outcomes.

The reappointment of the subsidiary of Stanbic IBTC Holdings Plc underscores its unwavering commitment to excellence; consistency in delivering superior service; and profound expertise in the capital market.

It is not merely a renewal of status but a strong vote of confidence in Stanbic IBTC Stockbrokers’ capacity to support the Federal Government in the retail segment of the domestic debt market.

The reappointment also highlights Stanbic IBTC Stockbrokers’ alignment with Nigeria’s broader economic agenda. The firm’s role is crucial in facilitating access to capital, helping the government raise funds to finance infrastructure projects, and contributing to national development.

With this reappointment, Stanbic IBTC Stockbrokers reaffirms its leadership position in the capital market. The firm is well-positioned to continue driving market development, enhancing transparency, and facilitating efficient capital flows within the economy.

As Nigeria continues to navigate complex economic dynamics, the competence and expertise of institutions like Stanbic IBTC Stockbrokers will play a pivotal role in building a resilient and vibrant financial market that supports sustainable economic growth.

“We are honoured by this recognition and reappointment by the DMO. With this appointment, we are reassured of the confidence placed in our competence, integrity, and dedication to supporting Nigeria’s financial markets.

“As the government stockbroker, we remain committed to delivering excellence and contributing to the growth of our economy,” the chief executive of Stanbic IBTC Stockbrokers, Mrs Bunmi Olarinoye, stated.

Stanbic IBTC Stockbrokers has built a legacy of trust, demonstrating robust performance in both equity and fixed-income markets. With a market-leading position and a reputation for executing complex transactions seamlessly, the firm has consistently provided liquidity, transparency, and stability to Nigeria’s capital market.

Beyond its core mandate, Stanbic IBTC Stockbrokers has contributed significantly to market development initiatives. The firm actively supports financial literacy, promotes retail investor participation, and engages in initiatives that enhance market depth and sophistication.

By Adedapo Adesanya

The Naira witnessed a 0.07 per cent or N1.11 depreciation on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday, March 4, closing at N1,500.34/$1 compared with the previous day’s rate of N1,499.23/$1.

But on the British Pound Sterling, it appreciated by N3.46 to trade at N1,898.15/£1 versus Monday’s closing price of N1,901.61/£1 and against the Euro, it lost 25 Kobo to sell for N1,571.18/€1, in contrast to the preceding session’s N1,570.93/€1.

At the parallel market, the Nigerian currency weakened against its American counterpart yesterday by N5 to finish at N1,515/$1 compared with the N1,510/$1 it was exchanged a day earlier.

According to market analysts, the Naira has remained relatively stable due to the steps taken by the Central Bank of Nigeria (CBN). The rate has remained between N1,499/$1 and N1,550/$1 in recent times as against the N1,600/$1 and N1,750/$1 some months ago.

Supply across official channels and informal channels have also been largely regulated with Bureau De Change (BDC) operators having access to a weekly forex of up to $25,000.

In the cryptocurrency market, there were gains after the market largely slumped on news of tariffs, but now, investors have tapped into the drops and increased buying.

The market also focused on the pledge of a crypto reserve that will see the country become a major player in the space.

During the session, Cardano (ADA) jumped by 13.4 per cent to trade at $0.9306, Binance Coin (BNB) went up by 4.8 per cent to $590.50, Bitcoin (BTC) rose by 3.5 per cent to finish at $87,128.53, Ethereum (ETH) added 3.4 per cent to close at $2,178.41, and Ripple (XRP) gained 3.3 per cent to close at $2.43.

Further, Solana (SOL) expanded by 2.9 per cent to $141.84, and Dogecoin (DOGE) appreciated by 2.2 per cent to $0.1975, while Litecoin (LTC) recorded a 2.9 per cent decline to trade at $102.38, with the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closing flat at $1.00 each.