Economy
Naira Falls to N769.25/$1 At I&E, N771/$1 at Black Market
By Adedapo Adesanya
The Naira closed the last trading day of the week on a weaker note in the Investors and Exporters (I&E) window of the foreign exchange market on Friday, June 30, the first session since Tuesday after the Sallah holiday break.
With the return of the market, there was a slight rush for the greenback as the Naira lost 0.82 per cent or N6.25 to close at N769.25/$1 versus last Tuesday’s value of N763/$1.
Data obtained by Business Post from FMDQ Securities Exchange showed that the local was under FX demand pressure as the turnover for the day remained high.
Transactions worth $263.45 million were executed in the official market yesterday, 7.2 per cent or $17.80 million higher than the $245.65 million carried out on Tuesday.
Also, in the parallel market, the Nigerian currency depreciated against the United States Dollar on Friday by N1 to quote at N771/$1 compared with Thursday’s exchange rate of N770/$1.
However, in the Peer-2-Peer (P2P) window, where trading also continued during the holidays like the black market, the domestic currency appreciated yesterday by N2.60 to sell at N768.00/$1 versus the previous day’s N770.60/$1.
A look at the exchange rate of the Naira to the Pound Sterling in the spot market showed that it weakened by N9.78 to close at N968.34/£1 versus N958.56/£1 and lost N9.41 against the Euro to trade at N831.88/€1 compared with the preceding session’s N822.47/€1.
The cryptocurrency market continued its moderate momentum yesterday ahead of the anticipated consumer sentiment report from the United States, which is expected to show an increase in overall consumer confidence.
The US Consumer Price Index (CPI) rose 4 per cent in the 12 months through May, the Bureau of Labor Statistics (BLS) said Wednesday.
Bitcoin (BTC) lost 1.8 per cent to close at $30,390.48, Solana (SOL) depreciated by 3.9 per cent to $18.02, Ripple (XRP) recorded a 2.2 per cent slide to trade at $0.4692 and Cardano (ADA) slid by 0.6 per cent to $0.2838.
However, Ethereum (ETH) went up by 1.3 per cent to $1,915.31, Litecoin (LTC) grew by 10.9 per cent to $106.25, Dogecoin (DOGE) expanded by 5.5 per cent to $0.0689, Binance Coin (BNB) jumped 1.0 per cent to $241.12, and the US Dollar Tether (USDT) and Binance USD (BUSD) remained unchanged 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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