Economy
NASD OTC Investors Profit N3.13bn Despite Tense Trading Week
By Adedapo Adesanya
Despite the trading week marred by tension following the escalation of the shooting of some peaceful protesters in the Lekki area of Lagos State, the NASD OTC Securities Exchange closed positive in the week 43.
The shooting of the demonstrators allegedly by the military led to the destruction of businesses and government properties in Lagos but in the midst of the confusion, the unlisted securities market gained N3.13 billion.
This boosted the NASD OTC market capitalization to N529.76 billion from N526.63 billion it closed in the preceding week and the positive performance pushed the NASD Unlisted Securities Index (NSI) higher by 0.6 per cent or 4.27 points to close the week at 721.19 points as against 716.92 points it ended in week 42.
The bullish outcome was from the price appreciation of two companies admitted on the exchange led by Central Securities Clearing System (CSCS) Plc, which currently has a market capitalisation of N77.75 billion. The equity price of the firm closed the week at N15.55 per share after rising 4.01 per cent or 60 kobo. A week earkier, it ended at N14.95 per cent.
The second company with a price appreciation in the week was FrieslandCampina WAMCO Nigeria Plc, which has a market capitalisation of N122.32 billion. The share value of the company increased by 0.20 per cent or 25 kobo to settle at N125.29 per share as against the previous week’s closing price of N125.04 per share.
There was only one price loser in the week and this was Afriland Properties Plc, which currently holds a market capitalisation of N2.06 billion. The organisation ended the week at N1.42 per share as against the previous closing value of N1.50 per share, representing a price depreciation of 5.53 per cent or 8 kobo.
On the activity chart, there was a 91.5 per cent decrease in the total value of securities traded by investors during the week as trades worth N15.0 million were transacted in contrast to the previous week’s N176.3 million.
In a similar pattern, the volume of stocks traded during the week fell to 216,793 units from 29.7 million units in the previous week, indicating a 99.3 per cent decrease.
Also, there was a 53.9 per cent drop in the number of deals as only 12 deals were executed compared with the previous week’s 26 deals.
Business Post observed that the activity chart clearly showed one thing, cautious trading and this was because of the situation of things in the country during the week.
On a year-to-date basis, a total of 7.9 billion securities valued at N11.7 billion have been transacted by market participants in 1289 deals.
At the close of the trading week, FrieslandCampina WAMCO Nigeria Plc ranked top among the three most traded securities by volume with 106,550 units followed by CSCS Plc with 100,000 units while Afriland Properties Plc was the third for trading 10,243 units.
By value, FrieslandCampina Wamco Nigeria Plc was equally among the three most traded securities after trading N13.5 million. CSCS Plc trailed with N1.6 million while Afriland Properties Plc was the third for transacting N14,497.
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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