Economy
Naira Stable Against Dollar at Official Market Amid Pause in Tariffs
By Adedapo Adesanya
The Naira maintained stability against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, April 9 at N1,612.97/$1 as traders weighed developments in the domestic scene and the global market.
This indicates that the local currency is facing ease in recent pressure after export tariffs hit the country and fanned concerns about the country’s FX reserves, which have been dropping in recent weeks.
President Donald Trump announced that he was instituting a 90-day pause on most new tariffs (excluding China). This may also also cover the recent 14 per cent placed on Nigeria.
In addition, the Central Bank of Nigeria (CBN), while announcing that the country recorded a positive Balance of Payment (BOP) reiterated that it will continue to stabilise the Naira through its policy coordination and harmonisation.
However, the Nigerian currency depreciated against the Pound Sterling by N24.80 to wrap the session at N2,085.01/£1 compared with the preceding session’s N2,060.21/£1 and lost N43.08 against the Euro to settle at N1,805.64/€1 versus N1,762.56/€1.
It also weakened against the Dollar in the parallel market yesterday by N5 to trade at N1,620/$1, in contrast to the N1,615/$1 it was exchanged in the previous trading day.
In the cryptocurrency market, there were positive outcomes across benchmarked tokens after the U-turn on tariffs led to relief.
President Trump paused higher tariffs on all countries, except China, where he increased the levy to 125 per cent, amid mounting concerns from global leaders and recession fears.
Based on this, countries that were hit with the higher, reciprocal duties that went into effect Wednesday will now be taxed at the earlier 10 per cent baseline rate applied to other nations.
Ripple (XRP) went up by 10.1 per cent to $1.99, Ethereum (ETH) appreciated by 9.9 per cent to sell at $1,610.16, Solana (SOL) recorded a 9.5 per cent rise to close at $116.08, and Cardano (ADA) also jumped 9.5 per cent to trade at $0.6231.
In addition, Dogecoin (DOGE) rose by 8.4 per cent to $0.1571, Bitcoin (BTC) improved by 6.3 per cent to $81,899.98, Litecoin (LTC) expanded by 6.2 per cent to $74.39, and Binance Coin (BNB) gained 5.1 per cent to settle at $578.86, 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.
-
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
