Economy
Naira Falls to N1,447/$1 at NAFEM amid Forex Supply Volatility
By Adedapo Adesanya
A 0.16 per cent or N2.26 loss was suffered by the Naira against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, December 3, closing at N1,447.65/$1 compared with the N1,445.39/$1 it was exchanged a day earlier.
It was similar story for the local currency against the Pound Sterling in the same market window at midweek as it lost N15.43 to trade at N1,925.08/£1 versus the preceding session’s N1,909.65/£1 and tumbled against the Euro by N9.28 to settle at N1,688.54/€1, in contrast to the previous day’s N1,679.26/€1.
However, the Nigerian Naira appreciated against the Dollar at the GTBank FX counter yesterday by N2 to sell at N1,453/$1 compared with Tuesday’s closing price of N1,455/$1 and traded at N1,460/$1 in the parallel market, the same rate it was sold a day earlier.
Volatility in year-end demand put fresh pressure abated in midweek even though FX market confidence has significantly reduced speculative activities.
Signals, however, point to prices trading withing the N1,440 per Dollar range as improved FX inflows, stronger remittances, and renewed foreign investor interest supported by the reforms in the FX market continue.
Nigeria’s external reserves have maintained steady growth over the last year, rising by $4.37 billion or 10.9 per cent to $44.66 billion as of November 28, 2025, from $40.29 billion recorded on December 2, 2024, according to the Central Bank of Nigeria (CBN).
A look at the cryptocurrency market showed that the landscape remains fragile after a sharp liquidation cycle at the start of the week, though the broader crypto market is still attempting to carve out higher lows after its late-November drawdown.
Ethereum (ETH) grew by 4.2 per cent to $3,210.75, Cardano (ADA) appreciated by 1.1 per cent to $0.4502, Binance Coin (BNB) jumped by 0.9 per cent to $913.24, Litecoin (LTC) increased by 0.8 per cent to $85.87, and Solana (SOL) went up by 0.2 per cent to $143.97.
But, Ripple (XRP) depreciated by 1.3 per cent to $2.18, Dogecoin (DOGE) slid by 0.9 per cent to $0.1504, and Bitcoin (BTC) fell by 0.6 per cent to $93,232.70, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained at $1.00 each.
Economy
NGX Group’s 65th Annual General Meeting Holds April 29
By Aduragbemi Omiyale
The 65th Annual General Meeting (AGM) of the Nigerian Exchange (NGX) Group Plc has been fixed for Wednesday, April 29, 2026, at 11:00 am at its corporate head office on 2–4 Customs Street, Lagos.
Business Post gathered that the meeting would be streamed live on the company’s website and social media platforms to enable broader participation by shareholders and stakeholders unable to attend physically.
As part of a special business, shareholders will consider a proposed bonus issue of one new ordinary share for every three existing shares held as at the close of business on April 10, 2026, subject to regulatory approvals.
The proposal also includes an increase in the organisation’s share capital from N1,102,309,954 to N1,469,746,605, to accommodate the bonus shares and amendments to the Memorandum of Association to reflect the new capital structure.
Also at the gathering, shareholders will consider and, if deemed fit, approve the company’s audited financial statements for the year ended December 31, 2025, alongside the reports of the directors, auditors, board evaluation consultants, and audit committee.
The meeting will also deliberate on the declaration of a final dividend and the re-election of three non-executive directors retiring by rotation, who are Mr Umaru Kwairanga, Mrs Ojinika Olaghere, and Dr Okechukwu Itanyi.
Other ordinary business items on the agenda include authorising the board to fix the remuneration of the external auditors, determining the remuneration of managers, and electing members of the statutory audit committee.
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.
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