Economy
Naira Gains 0.04% Against Dollar at Official Market
By Adedapo Adesanya
The Naira gained 0.04 per cent or 60 Kobo against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday to settle at N1,447.43/$1, in contrast to the N1,448.03/$1 it was traded in the preceding session.
Equally, the domestic currency improved its value against the Pound Sterling in the same market segment during the session by N5.72 to close at N1,903.51/£1 compared with the previous day’s N1,909.23/£1, but lost 17 Kobo against the Euro in the official market to sell for N1,679.16/€1 versus Monday’s closing price of N1,678.99/€1.
At the parallel market, the Nigerian Naira closed flat against the US Dollar yesterday at N1,460/$1 and at GTBank, it was unchanged at N1,447/$1.
The Naira rally was soft as the market anticipates the Central Bank of Nigeria (CBN) to boost the supply side to reverse a trend of minimal interventions by the apex bank due to increasing FX inflows from foreign portfolio investors and exporters. In recent weeks, the CBN has capped sales at $50 million.
On Wednesday, it was revealed that Nigeria’s external reserves reached the $46.7 billion mark, largely attributed to the federal government’s Eurobond issuance and rising FX inflows from offshore investors.
Other positive signals like Nigeria’s headline inflation rate easing by 1.97 percentage points to 16.05 per cent in October from 18.02 per cent in September 2025, also supported.
In the cryptocurrency market, the sentiment in crypto still remained cautious despite some gains.
More than $1 trillion were wiped off the value of the cryptocurrency market in the past six weeks amid fears of a tech bubble and fading expectations for a rate cut in the US next month.
The gains were clawed as traditional market suffered beatings and provided havens for traders to make profit, with Solana (SOL) going up by 1.6 per cent to $138.16.
Further, Binance Coin (BNB) rose by 1.5 per cent to sell for $921.75, Dogecoin (DOGE) appreciated by 0.9 per cent to $0.1560, Ethereum (ETH) jumped by 0.8 per cent to $3,026.61, and Bitcoin (BTC) jumped by 0.8 per cent to $90,639.68.
But, Cardano (ADA) depreciated by 1.2 per cent to $0.4583, Ripple (XRP) fell by 0.9 per cent to $2.13, and Litecoin (LTC) declined by 0.8 per cent to $93.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat 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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