Economy
Naira Sells N1,659/$1 at NAFEM on Improved Forex Supply
By Adedapo Adesanya
The Naira strengthened its value against the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Tuesday by 0.97 per cent or N16.18 to exchange at N1,659.44/$1 compared wth the previous day’s value of N1,675.62/$1 amid an improvement in the supply of forex to the market segment by the Central Bank of Nigeria (CBN).
Data showed that the FX transactions for the trading session increased by 291.6 per cent or $317.19 million to $425.98 million from the $108.79 million recorded in the last trading session.
Also, the domestic currency improved its value against the Pound Sterling in the spot market yesterday by N23.42 to settle at N2,116.44/£1, in contrast to Monday’s closing price of N2,139.86/£1 and against the Euro, it closed flat at the value of N1,783.36/€1.
In the parallel market, the Nigerian currency remained unchanged against the US Dollar during the trading day at N1,750/$1, according to data obtained by Business Post.
At the 298th Monetary Policy Committee (MPC) meeting, the Governor of the CBN, Mr Yemi Cardoso, said the apex bank will continue to carry out measures to ensure stability in the FX market, and plans to avoid any move that will disrupt progress it has made. This was after the bank further raised the interest rate by 0.25 per cent to 27.50 per cent.
In the cryptocurrency market, some of the gains made during the recent post-US election price surge have weakened, as traders see the presidency of Mr Donald Trump as bullish for the industry especially with some of his allies and expected appointees to certain financial positions.
Ripple (XRP) shed 3.9 per cent to trade at $1.38, Binance Coin (BNB) depleted by 3.7 per cent to $619.77, Solana (SOL) slumped by 3.2 per cent to $230.87, Dogecoin (DOGE) fell by 3.0 per cent to $0.3938, Bitcoin (BTC) dropped 1.6 per cent to $93,220.19, Cardano (ADA) depreciated by 1.1 per cent to $0.9682, and Ethereum (ETH) slid by 0.2 per cent to at $3,417.79.
However, Litecoin (LTC) appreciated by 0.4 per cent to quote at $94.68, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00, respectively.
Economy
Wems BO Plans Personal Finance Retreat to Empower Nigerians
By Adedapo Adesanya
Financial educator and coach, Mrs Wemimo “Wems BO” Bolu-Opaniran, is set to host the maiden edition of the Wems BO Personal Finance Retreat 1.0, a weekend event aimed at helping participants improve their financial literacy and develop practical money management skills.
According to a statement, the retreat is designed to make personal finance engaging and accessible through interactive sessions, games, networking opportunities, and one-on-one coaching sessions.
The organisers said the event will focus on providing attendees with practical and actionable financial knowledge rather than conventional lecture-style teaching.
“Come and unravel financial wisdom and leave with a practical and concrete action plan,” the organisers stated in a statement.
Activities lined up for the retreat include interactive finance sessions, networking opportunities, personal finance workbooks, games and activities, food and souvenirs, as well as three months of exclusive access to the event replay.
Speaking on the rationale for organising the event, Wems BO noted that lack is primarily not always the reason people have bad finances, but often, money culture is.
“The way one sees and treats money has been a development from years and decades past. So, what to do about money is not the solution. It is mindset, defaults and motivations shaping decisions.
The solution is an inner inquiring on why you do what you do, beyond money. Understanding who you are, then beginning to drive decisions that make you grow, manage and scale your finances in a way that aids the life you want,” she told Business Post.
Participants will also have the opportunity to receive one-on-one coaching with the finance guru.
The event is scheduled to be held from Friday, July 17 to Saturday, July 18, 2026, at an in-house venue on Lagos Mainland.
Ticket prices were pegged at N40,000 for individual attendees and N76,000 for duo tickets, with organisers noting that limited slots remain available.
Interested participants can register through the official registration link.
Economy
Unlisted Securities Index Rises 0.91%
By Adedapo Adesanya
A 0.91 per cent growth was recorded by the NASD Over-the-Counter (OTC) Securities Exchange on Friday, May 22, after the share prices of four securities ended in green.
According to data, FrieslandCampina Wamco Plc went up by N15.61 to N179.67 per share from N164.06 per share, Newrest Asl Plc grew by N6.11 to N67.26 per unit from N61.15 per unit, Food Concepts Plc appreciated by 17 Kobo to N2.75 per share from N2.58 per share, and Nitrox Industrial Gases Plc added 6 Kobo to sell at N25.50 per unit compared with the previous day’s N25.44 per unit.
At the close of business, the market capitalisation chalked up N23.22 billion to settle at N2.561 trillion versus Thursday’s N2.538 trillion, and the NASD Unlisted Security Index (NSI) increased by 38.81 points to 4,281.28 points from 4,242.47 points.
During the session, the price of Central Securities and Clearing System (CSCS) Plc was down by N3.13 to N71.07 per share from N74.20 per share.
The activity chart showed that the volume of securities transacted by the market participants decreased yesterday by 81.6 per cent to 590,339 units from the 3.2 million units recorded on Thursday, as the number of deals shrank by 28.6 per cent to 30 deals from the 42 deals recorded a day earlier, while the value of securities increased by 0.5 per cent to N95.3 million from the preceding session’s N94.8 million.
Great Nigeria Insurance (GNI) Plc closed the day as the most active stock by value on a year-to-date basis, with a turnover of 3.4 billion units worth N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 61.2 million units traded for N4.1 billion.
The most active stock by volume on a year-to-date basis was GNI Plc, with the sale of 3.4 billion units for N8.4 billion, followed by Infracredit Plc with 2.3 billion units valued at N6.5 billion, and Resourcery Plc with 1.1 billion units exchanged for N415.7 million.
Economy
Stock Investors Gain N344bn amid Decline in Transactions
By Dipo Olowookere
The Nigerian Exchange witnessed a decline in transactions on Friday despite closing higher by 0.22 per cent on the back of sustained bargain-hunting.
During the last trading session of the week, investors transacted 711.9 million equities valued at N29.1 billion in 62,386 deals compared with the 1.1 billion equities worth N31.0 billion traded in 62,448 deals in the previous day, indicating a decline in the trading volume, value, and number of deals by 35.28 per cent, 6.13 per cent, and 0.10 per cent, respectively.
Fidelity Bank closed the day as the most active stock with the sale of 198.1 million units for N4.6 billion, Access Holdings traded 69.7 million units worth N1.8 billion, Mutual Benefits exchanged 42.7 million units valued at N197.4 million, Japaul transacted 33.9 million units worth N134.4 million, and Zenith Bank sold 24.4 million units valued at N3.2 billion.
Yesterday, the industrial goods index rose by 0.53 per cent, the consumer goods sector jumped 0.28 per cent, the banking industry improved by 0.25 per cent, and the energy counter soared by 0.18 per cent, while the insurance space shed 0.18 per cent.
At the close of business, the All-Share Index (ASI) gained 536.98 points to finish at 249,712.37 points compared with the previous day’s 249,175.39 points, and the market capitalisation grew by N344 billion to N160.077 trillion from N159.733 trillion.
Aluminium Extrusion and DAAR Communications expanded by 10.00 per cent each to sell for N9.90 and N2.09, respectively, RT Briscoe surged by 9.93 per cent to N14.06, Learn Africa increased by 9.79 per cent to N12.90, and Red Star Express advanced by 9.56 per cent to N34.95.
On the flip side, Trans-Nationwide Express depreciated by 9.92 per cent to N5.72, Livestock Feeds dipped by 9.64 per cent to N8.90, The Initiates crashed by 8.65 per cent to N33.80, Ellah Lakes drowned by 8.64 per cent to N10.05, and Neimeth lost 6.36 per cent to trade at N10.30.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
