Economy
Forex Liquidity Strengthens Naira to N450/$1 at Black Market
By Adedapo Adesanya
As the gradual reopening of Nigeria’s economic activities draws nearer, the Naira appreciated at the parallel or black market of the foreign exchange market on Thursday, April 30.
The local currency appreciated by N10 against the Dollar to close at N450/$ from N460/$ recorded on Wednesday.
The Naira gained N10 on the Pound yesterday to close at N510/£1 in contrast to N520/£1, while against the Euro, the domestic currency appreciated by as much as N20 to wrap at N445/€1 from N465/€1.
However, at the Investors and Exporters (I&E) segment on Thursday, the local currency depreciated by 0.22 percent or 85 kobo against the Dollar to trade at N387.30/$1 compared with N386.45/$1 it traded the previous day.
Business Post gathered that the value of transactions at the market segment was higher than the previous session.
Trades valued at $83.41 million were recorded on Thursday at the I&E window compared with $13.52 million on Wednesday. This indicated a 517 percent or $69.89 million rise.
A look at the Bureaux De Change (BDC) segment of the market showed that the value of the Naira to the Dollar depreciated by N1 in Lagos to N462/$1 from N461/$1. Also, the local currency shed N10 on the Pound in Lagos to trade at N530/£1 compared with N520/£1 and fell by N11 on the Euro to close at N481/€1 as against N470/€1 the previous day.
At the Port Harcourt BDC market, the value of the Nigerian currency to its United States counterpart was flat at N457/$1. However, it was a sad story for the domestic currency against the Pound as the value went down by N62 to close at N570/£1 from N508/£1 and against the Euro, it closed flat at N460/€1 on Thursday.
In Abuja, the local currency exchange rate closed flat against the Dollar, Pound and Euro at N457/$1, N498/£1 and N440/€1 respectively.
It was a similar situation at the Kano BDC market, where a lockdown has been declared for two weeks due to Coronavirus disease. The Naira traded flat against the Dollar, Pound and Euro yesterday at N457/$1, N498/£1 and N440/€1 respectively.
A look at another segment of the forex market yesterday, the interbank, showed that the Naira further remained unchanged against the greenback at N361/$1.
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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