Economy
NASD OTC Records Loss for Third Consecutive Week
By Adedapo Adesanya
For the third straight week, the NASD Over-the-Counter (OTC) Securities Exchange recorded a decline, closing last week with a year-to-date loss of 2.2 per cent.
In the five-day trading week, the unlisted securities market depreciated by 1.63 per cent and this made investors lose N8.61 billion at the close of transactions.
Consequently, the market capitalisation reduced to N520.48 billion from the previous week’s N529.09 billion, while the NASD Security Index (NSI) decreased to 725.39 points from 737.39 points.
Business Post reports that the weak performance witnessed in the week was influenced by the losses suffered by three of the market heavyweight stocks led by FrieslandCampina WAMCO Nigeria Plc, which depreciated by 4.86 per cent to settle at N121.14 per unit in contrast to N127.33 per unit it finished a week earlier.
Also, Niger Delta Exploration and Production (NDEP) Plc lost 2.55 per cent to quote at N330.00 per share versus the preceding week’s closing price of N338.66 per share, while Central Securities Clearing System (CSCS) Plc declined by 1.53 per cent to end at N16.00 per unit in contrast to N16.25 it traded the previous week.
The week also saw the presence of the bulls and this was on the invitation of Geo-Fluids Plc, which gained 8.69 per cent to settle at 75 kobo per share in contrast to the previous rate of 69 kobo per share.
During the fourth trading week of 2021, there was a 10.4 per cent increase in the total value of securities traded by investors; N145.6 million versus the preceding week’s N131.9 million.
However, the total volume of transactions reduced by 89.4 per cent to 1,271,526 units compared with the previous week’s 12,376,242 units.
In the same vein, the number of deals executed by market participants decreased by 2.7 per cent to 36 deals from the 37 deals carried out the preceding week.
At the close of transactions for the week, FrieslandCampina WAMCO Nigeria Plc Plc was the most active stock by volume with 1.1 million units. Geo Fluids Plc transacted 92,000 units, NDEP Plc sold 20,846 units, Air Liquide Plc exchanged 11.940 units, while CSCS Plc traded 8,000 units.
In terms of of the most traded securities by value for the week, FrieslandCampina topped the chart with the sale of shares N138.3 million. NDEP Plc traded N7.0 million, CSCS Plc transacted N128,000, Air Liquide Plc exchanged N71,640, while Geo Fluids Plc traded N69,000.
So far in the year, investors have traded 18,891,710 units of securities worth N375.1 million in 111 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.
