Economy
NASD OTC Extends Weekly Growth by 0.33% in Week 10
By Adedapo Adesanya
The 10th week of trading in 2023 at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note for the third straight week due to the 0.33 per cent growth recorded last week.
This increased the value of investors’ portfolios in the unlisted securities market by N3.19 billion at the close of transactions to N955.83 trillion from the N952.64 billion reported in Week 9.
In the same vein, the NASD Unlisted Securities Index (NSI) appreciated by 2.43 points to wrap the week at 727.42 points compared with 724.99 points recorded in the previous week.
In the week, there was a 148.3 per cent increase in the total value of transactions to N143.9 million from N57.9 million, as the volume of trades grew by 183.8 per cent to 108.3 million units from 38.1 million units, with the number of deals increasing by 31.6 per cent to 50 deals from the 38 deals achieved in the preceding week.
The share prices of Central Securities Clearing Systems (CSCS), Geo-Fluids Plc, and Nipco Plc appreciated during the five-day trading week, while the share prices of Afriland Property Plc, FrieslandCampina Wamco Nigeria Plc, and First Trust Microfinance Bank Plc dropped.
Nipco Plc gained N10 to end at N70.00 per unit versus the preceding week’s N60.00 per unit, CSCS Plc rose by 43 Kobo to N13.93 per share from N13.50 per share, and Geo-Fluids Plc expanded by 12 Kobo to N1.32 per unit from N1.20 per unit.
On the flip side, FrieslandCampina Wamco Nigeria Plc lost 50 Kobo to settle at N74.00 per share versus N74.50 per share, Afriland Property Plc shrank by 10 Kobo to close at N1.90 per unit versus N2.00 per unit, and First Trust Microfinance Bank declined by 5 Kobo to 52 Kobo from 57 Kobo.
At the close of the week, Geo-Fluids Plc was the most traded stock by volume with 70.1 million units, UBN Property Plc traded 35.5 million units, Industrial & General Insurance (IGI) Plc exchanged 1.6 million units, CSCS Plc transacted 600,000 units, and Afriland Properties Plc traded 220,000 units.
By value, Geo Fluids Plc topped with N91 million, UBN Property Plc followed with N31 million, CSCS Plc posted N8 million, Niger Delta Exploration & Production (NDEP) Plc recorded N6 million, while FrieslandCampina Wamco Nigeria Plc reported N4 million.
In the year so far, investors have traded a total of 570.03 million units valued at N2.29 billion in 643 deals.
By Adedapo Adesanya
The Central Securities Clearing System (CSCS) Plc weakened the NASD Over-the-Counter (OTC) Securities Exchange by 0.36 per cent on Wednesday, August 19, slicing the market capitalisation of the platform by N9.41 billion to N2.60 trillion from N2.610 trillion, and reducing the NASD Security Index (NSI) by 15.67 points to 4,333.09 from 4,348.76 points.
The securities depository company lost N10.30 at midweek to close at N88.12 per share versus Tuesday’s closing price of N90.02 per share.
This offset the 38 Kobo gained by Golden Capital Plc during the session. The stock traded at N14.05 per unit compared with the preceding day’s N13.67 per unit.
Yesterday, the volume of securities soared by 557.2 per cent to 747,429 units from 113,728 units, the value of securities jumped by 934.0 per cent to N9.4 million from N375.7 million, and the number of deals increased by 35.5 per cent to 42 deals from 31 deals.
Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, trailed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units exchanged for N6.5 billion, and CSCS Plc with 79.9 million units worth N5.8 billion.
GNI Plc also finished the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units transacted for N8.4 billion, followed by Infracredit Plc with 2.3 billion units traded for N6.5 billion, and Resourcery Plc with 1.1 billion units sold for N415.7 million.
By Adedapo Adesanya
The Naira weakened by N7.09 or 0.53 per cent against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Wednesday, August 19, to N1,350.41/$1 from the previous rate of N1,343.32/$1.
The local currency also significantly depreciated against the Pound Sterling in the official market yesterday, by N19.87, to close at N1,839.13/£1 versus the previous day’s N1,819.26/£1, and against the Euro, it lost N18.07 to end at N1,574.31/€1 versus Tuesday’s price of N1,556.24/€1.
However, at the black market, the Naira maintained stability against the US Dollar at N1,390/$1, and also remained unchanged at the GTBank forex desk at N1,357/$1.
Interbank FX turnover increased by 1.72 per cent to $370.980 million from $364.709 million, according to the daily update by the Central Bank of Nigeria (CBN).
On the other hand, the number of interbank FX deals declined to 100, from 108 the previous day, reflecting a moderate slowdown in activities.
Available data from the central bank showed that demand for FX by end-users in Nigeria fell by 35.23 per cent to $3.42 billion in April 2026, easing pressure on the Dollar market as the Naira recorded modest gains.
This occurred as FX utilisation across economic sectors declined during the month, while the Naira strengthened at the official market. Across several sectors, including oil, food, and manufacturing, there were drops.
The monthly average exchange rate improved 1.38 per cent to N1,361.22 per Dollar in April from N1,379.98/$1 in March. At the end of the review month, the domestic currency closed at N1,374.94 per Dollar at NAFEM, compared with N1,386.72/$1 at the end of March.
In the cryptocurrency market, coins recorded massive jumps following the US Treasury’s decision to at least double bond buyback operations and was reinforced by a bond-market surge and President Donald Trump’s call for Congress to advance crypto market-structure legislation.
The American President urged Congress to advance the Digital Asset Market Clarity Act, calling for “a fair version” of the market structure bill that has been stuck in the Senate.
Ethereum (ETH) surged by 18.2 per cent to $2,261.93, Solana (SOL) rose by 11.4 per cent to $85.77, Ripple (XRP) expanded by 10.5 per cent to $1.10, Bitcoin (BTC) grew by 8.6 per cent to $69,784.82, Dogecoin (DOGE) added 7.3 per cent to sell at $0.0751, Cardano (ADA) rose by 4.8 per cent to $0.1842, Binance Coin (BNB) jumped by 4.5 per cent to $628.45, and TRON (TRX) increased by 0.1 per cent to $0.3330, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.
By Aduragbemi Omiyale
Those who purchased the N40 billion bond issued by Geregu Power Plc in 2022 but did not receive payments last month as expected have reportedly now been paid by the energy company.
Geregu Power, listed on the Nigerian Exchange (NGX) Limited, was in the news recently over the repayment default on July 28, 2026, triggering panic in the capital market.
Last week, the organisation admitted the issues caused by this default, but said, “Discussions and engagements are ongoing, and the company will continue to act in good faith in fulfilling its responsibilities.”
It further disclosed that “relevant stakeholders and advisers [are being actively engaged] regarding the resolution of the various challenges and is committed to achieving an orderly and mutually beneficial outcome.”
The latest information indicated that N6.03 billion owed investors under the firm’s N40.09 billion Series 1 Senior Unsecured Bond has been cleared.
This is expected to bring relief to investors, who may have feared the worst after the entity failed to meet its debt obligations when due.
However, on the FMDQ Securities Exchange, the status of the debt instrument remains as “credit default in the 8th coupon payment and 4th bullet principal repayment.”
As of the time of filing this report, Geregu Power has yet to confirm the clearing of the N6 billion debt.
