Economy
FMDQ to Attract Low Carbon, Climate Resilient Investments
By Dipo Olowookere
In line with its drive to promote sustainable finance in the Nigerian financial market, the FMDQ Securities Exchange PLC has partnered with other stakeholders in the financial market ecosystem to establish the Financial Centre for Sustainability, Lagos (FC4S Lagos).
This initiative would be used to accelerate the expansion of green/sustainable finance in Nigeria, showcasing Lagos as a key financial centre working towards the implementation of the Sustainable Development Goals (SDGs).
It would also afford the aquatic city an opportunity to draw lessons and insights from more developed financial centres that will aid its adaptation to climate change as well as provide an opportunity to harness the vast investment needs for the transition to a low-carbon and climate resilient economy that supports sustainable growth.
Lagos State Governor, Mr Babajide Sanwo-Olu, launched the FC4S Lagos on Friday, October 4, 2019, at the FMDQ’s business complex, Exchange Place.
The event brought together key financial market stakeholders, regulators, subject-matter experts and other sustainability doyens, including, Ms Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business; Ms Mary Uduk, Acting Director-General, Securities and Exchange Commission (SEC); Prof. Doyin Salami, Vice-Chairman, Governance Board, FC4S Lagos; Mr Sam Egube, Commissioner for Budget and Planning, Lagos State; Dr Rabiu Olowo Onaolapo, Commissioner for Finance, Lagos State; Ms Solape Hammond, Special Adviser to Lagos State Governor on Sustainable Development Goals; Mr Bolaji Balogun, Chief Executive Officer, Chapel Hill Denham; amongst others.
The FC4S Lagos has a mission to position Nigeria as a leading market in sustainability principles through investments, innovation, partnerships and capacity development.
It is structured as an Incorporated Trustee with the aspiration to be independently run and self-funded, with its secretariat based in Lagos and is led by a Governance Board constituting the Chairman, Mr Bola Onadele Koko; Vice Chairman, Prof. Doyin Salami and four Thematic Area Leads.
These leads are Policy & Regulation led by Dr Farouk Aminu; Issuances & Investments led by Mrs Kemi Awodein; Research, Education & Engagements led by Dr Andrew S. Nevin and Legal & Risk Management led by Mr Chidi Mike- Eneh.
FMDQ Exchange currently serves as the Secretariat of FC4S Lagos, coordinating the activities of the financial centre and liaising with the international network towards meeting the overarching objective of promoting green and sustainable finance in Nigeria.
According to the 2018 Nigerian Sustainable Finance Roadmap Report developed by United Nations Environment Programme (UNEP) Inquiry, in collaboration with market stakeholders, Nigeria continues to grapple with a myriad of economic, social and infrastructure challenges on the back of growing rural-urban migration, lack of pipe-borne water, growing housing deficit, deteriorating environmental conditions, heightening security challenges, increased social tension, and inaccessible health and education centres, signalling an annual estimated sustainable finance investment need of up to $92 billion green finance investment required between now and 2030.
The report highlights the fact that annual sustainable finance flow into Nigeria is estimated at just over $8 billion mainly from public sources.
It also states further that to achieve the Nationally Defined Contributions (NDCs) of the Paris Agreement and meet the Sustainable Development Goals (SDGs) by 2030, the opportunity for sustainable finance-related private capital in Nigeria could be roughly 20 times of current flows (i.e. $160 billion).
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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