Economy
NASD Exchange Records 5.1% Growth in 2020
By Adedapo Adesanya
The year 2020 was very good for the NASD OTC Securities Exchange following the year-to-date return of 5.1 per cent it recorded.
A 5.1 per cent growth for an exchange like the NASD can be regarded as impressive because of the lesser attention paid to the OTC market by investors.
During the year, the alternative bourse traded a total of 7,930,325,502 units of securities worth N12.7 billion executed in 1,498 deals.
In the final trading week of the year (Week 53), investors gained N2.57 billion and this pushed the market capitalisation of the exchange higher to N525.94 billion from N523.37 billion.
In the same vein, the NASD Security Index (NSI) rose by 0.49 per cent or 3.59 points to close 733.00 points as against 729.41 points of the previous week.
During week 53, four stocks admitted on the NASD exchange appreciated in price and they were Geo-Fluids Plc, Niger Delta Exploration and Production (NDEP) Plc, Nipco Plc and Central Securities Clearing System (CSCS) Plc.
For Geo-Fluids, which currently holds a market capitalisation of N2.93 billion, appreciated by 30.2 per cent to close at 69 kobo per share in contrast to the previous price of 53 kobo per share.
On its part, NDEP, which closed with a market capitalisation of N61.68 billion, gained 13.1 per cent to close at N340.0 per share versus N300.76 per share it was sold a week earlier.
Also, Nipco, which ended the year with a market capitalisation of N12.76 billion, improved by 9.7 per cent to finish at N68 per unit in contrast to the previous week’s N62 per unit, while CSCS, which had a market capitalisation of N75.25 billion, gained 3.79 per cent to settle at N15.05 per share compared with N14.50 per share it traded a week earlier.
Despite the positive environment, there was an 84.9 per cent decrease in the total value of shares traded by investors during the week to N5.0 million from N33.3 million of the previous week.
In the same breath, the total volume traded during the week dropped by 63.9 per cent to 1.1 million units from 3.1 million units in week 52 and there was equally a 42.9 per cent decrease in the number of deals to eight deals from 14 deals executed a week earlier.
There was a decliner as FrieslandCampina Wamco Nigeria Plc, which currently holds a market capitalisation of N126.92 billion, lost 1.52 per cent to trade at N130.00 per share versus the previous price of N132.00 per share.
At the close of transactions, ARM Life Plc ranked top among the five most traded securities by volume with 7.4 billion units. CSCS traded 213.9 million units, Food Concepts Plc executed 152.2 million units, Lighthouse Financial Services exchanged 49.2 million units, while NASD Plc transacted 29.3 million units.
Also, ARM Life was the most active stock by value in the year, trading shares for N4.6 billion. NDEP transacted N3.7 billion securities, CSCS exchanged N2.9 billion stocks, FrieslandCampina WAMCO Nigeria traded N846.4 million equities, while Nipco transacted N249.6 million shares.
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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