Economy
Investors Lose N368bn Trading Nigerian Stocks as Confidence Wanes
By Dipo Olowookere
Waning investor confidence is fast taking its toll on Nigerian stocks as they continue to depreciate due to persistent profit-taking.
Selling pressure further weakened the Nigerian Exchange (NGX) Limited on Wednesday by 0.45 per cent in the absence of a positive trigger.
According to data from Customs Street, there were 14 price gainers and 44 price losers yesterday, implying a negative market breadth index and weak investor sentiment.
The trio of Learn Africa, DAAR Communications, and Legend Internet gave up 10.00 per cent each to sell for N7.02, 90 Kobo, and N4.77 apiece as AXA Mansard lost 9.95 per cent to close at N14.39, and Universal Insurance crumbled by 9.60 per cent to N1.13.
Conversely, Secure Electronic Technology gained 9.09 per cent to finish at 96 Kobo, Consolidated Hallmark grew by 8.53 per cent to N4.20, John Holt expanded by 7.94 per cent to N6.80, Cadbury Nigeria jumped by 5.45 per cent to N58.00, and Wema Bank improved by 5.31 per cent to N21.80.
Business Post reports that during the session, the insurance counter lost 4.46 per cent, the consumer goods index declined by 1.32 per cent, the banking space went down by 0.55 per cent, the energy industry crashed by 0.44 per cent, and the commodity sector shrank by 0.08 per cent, while the industrial goods space increased by 0.23 per cent.
At the close of business, the All-Share Index (ASI) moderated by 580.48 points to 138,157.16 points from 138,737.64 points and the market capitalisation shed N368 billion to end at N87.416 trillion versus the previous day’s N87.784 trillion.
Market participants transacted 482.8 million units of shares worth N19.7 billion in 28,193 deals at midweek, in contrast to the 407.6 million units valued at N39.9 billion traded in 31,406 deals on Tuesday.
This showed that the trading volume went up by 18.45 per cent, the trading value went down by 50.63 per cent and the number of deals retreated by 10.23 per cent.
Access Holdings was the busiest on Wednesday with a turnover of 43.0 million equities worth N1.1 billion, Fidelity Bank sold 40.1 million shares valued at N843.8 million, GTCO transacted 34.9 million stocks for N3.2 billion, UBA exchanged 33.4 million shares valued at N1.5 billion, and AIICO Insurance traded 29.1 million equities worth N91.6 million.
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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