Economy
Naira Loses N6.75 at Official Market, Trades N1,465/$1 at Black Market
By Adedapo Adesanya
The Naira depreciated against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, November 19 amid fresh forex demand pressure.
During the trading session, the value of the local currency weakened against the greenback by N6.75 or 0.47 per cent to trade at N1,454.18/$1 compared with the previous day’s N1,447.43/$1.
The domestic currency also tumbled against the Pound Sterling in the official market at midweek by N4.38 to close at N1,907.89/£1 versus N1,903.31/£1, and lost N4.20 against the Euro to finish at N1,683.36/€1, in contrast to the previous session’s N1,679.16/€1.
Equally, the Naira dropped N6 against the greenback at the GTBank FX counter, closing at N1,453/$1 versus Tuesday’s closing price of N1,447/$1, and depreciated by N5 in the parallel market to quote at N1,465/$1 compared with the N1,460/$1 it quoted in the preceding session.
The forex liquidity conditions tightened further on Wednesday at the FX market, which has continued to reduce the transaction value of the local currency.
The market will be hoping for a reversal 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.
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, giving possible lifeline of increased supply in due course.
As for the crypto market, there were some gains amid cautious sentiment as the US Bureau of Labour Statistics (BLS) said that the October employment report will scrapped due to the government shutdown and the November jobs numbers won’t be released until after the US Federal Reserve’s December meeting.
The odds of a December rate cut by the US central bank which was nearly 100 per cent as recently as three weeks ago has now tumbled further to just 33 per cent.
Solana (SOL) went up by 3.4 per cent to $143.45, Bitcoin (BTC) rose by 1.5 per cent to $92,180.59, Cardano (ADA) appreciated by 1.2 per cent to $0.4657, and Dogecoin (DOGE) increased by 0.3 per cent to $0.1572.
On the flip side, Binance Coin (BNB) slid by 2.0 per cent to $905.66, Litecoin (LTC) slumped by 0.8 per cent to $92.78, Ripple (XRP) fell by 0.6 per cent to $2.13, and Ethereum (ETH) declined by 0.5 per cent to $3,021.77, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
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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