Economy
NGX Group, CSCS Chop N4.34bn from Unlisted Securities Market
By Adedapo Adesanya
The decline in the prices of two stocks admitted on the trading platform of the NASD Over-the-Counter (OTC) Securities Exchange caused a reduction in the total value of shares at the market by 0.67 per cent on Tuesday.
At the close of business yesterday, the market capitalisation of the OTC market went down by N4.34 billion to N640.92 billion from N645.26 billion, while the NASD Unlisted Security Index (NSI) decreased by 4.99 points to wrap the session at 737.39 points compared with 742.38 points recorded at the previous session.
The duo of Nigerian Exchange (NGX) Group Plc and Central Securities Clearing Systems (CSCS) Plc were responsible for the poor outing of the unlisted securities market on Tuesday.
NGX Group Plc lost 9 kobo or 0.7 per cent to settle at N13.04 per share compared with the previous day’s N13.13 per share, while CSCS Plc depreciated by N1.04 or 5.8 per cent to finish at N16.95 per unit in contrast to the previous closing price of N17.99 per unit.
However, NASD Plc maintained its upward trajectory during the session as its value further went up by 15 kobo or 1.3 per cent to close at N11.65 per share in contrast to N11.50 per share it closed on Monday.
UBN Property Plc appreciated by 9 kobo or 9.1 per cent to trade at 99 kobo per unit as against 90 kobo per unit of the earlier trading day, while Food Concepts Plc improved by 8 kobo or 9.6 per cent to 83 kobo per unit from 75 kobo per unit.
A look at the level of activity showed that it was a quiet day at the NASD exchange on Tuesday as the volume of shares transacted by investors went down by 99.5 per cent to 7.8 million units from 1.4 billion units traded at the preceding session.
Also, the value of shares decreased by 97.8 per cent to N40.2 million from Monday’s N1.4 billion, while the number of deals reduced by 23.3 per cent to 23 deals from 30 deals of the preceding day.
At the close of transactions, Food Concepts Plc was the most active stock by volume (year-to-date) with 3.2 billion units worth N3.9 billion, Geo Fluids Plc in the second spot has traded 1.0 billion units for N700.1 million, while NGX Group Plc in third place has transacted 454.1 million units for N9.2 billion.
But in terms of value, NGX Group Plc maintained its top position with 454.1 million units worth N9.2 billion, followed by Food Concepts Plc with 3.2 billion units valued at N3.9 billion, and VFD Group Plc with 10.4 million units traded for N3.5 billion.
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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