Economy
NGX Hints at Change in Securities Trading Patterns
By Aduragbemi Omiyale
In the next few months, securities trading patterns on the floor of the Nigerian Exchange (NGX) Limited by investors would witness changes, the Chief Executive Officer of the bourse, Mr Temi Popoola, has hinted.
Speaking on Business Morning Show on Channels Television last Tuesday, Mr Popoola said the exchange will carry out these changes through technology.
According to him, the major aim for this is to digitize securities investment and other market-related transactions to attract more investors, especially Generation Z, known as zoomers, the demographic cohort succeeding Millennials and preceding Generation Alpha.
“The exchange on its part is doing its bit to coordinate the activities of players across the entire investment value chain to create an experience where within the space of minutes, a transaction can be initiated and completed.
“This is particularly important given that the next generation of investors are typically on their mobile phones, and until we can meet them there the value we can deliver to them will be limited.
“Over the next few months, we expect to deliver some positive structural changes building on our existing activities in this regard,” Mr Popoola said on the programme.
The NGX chief stated that to achieve this goal, his team was working in sync with the apex regulator in the nation’s capital market, the Securities and Exchange Commission (SEC).
He expressed his excitement about the future of the bourse especially with the possibilities advancements in technology provide.
“We may not be able to wrap our minds around the potential that technology will open up to us, but I am confident that the exchange of the future is one that will offer a diversified range of capital raising opportunities, as well as sophisticated investment products that meet stakeholders’ needs,” he said.
According to him, the increase in domestic participation on the NGX in few months is a testament to the financial power of Nigeria as a whole, assuring that the exchange will look to drive local participation and at the same time, position itself to attract investments.
Mr Popoola disclosed that efforts are being made to attract more foreign capital, noting that, “While attracting foreign capital is largely based on the macroeconomic environment of the nation, NGX continues to address factors within its immediate control to provide a conducive environment for these investments.
“We recognise that investors look into the quality of the companies and asset classes available before making investment decisions.
“As such, we place significant emphasis on governance, as well as the rules guiding the behaviour of Issuers in our market.
“On the trading side, we also consider factors around the ease in settling transactions, resolving complaints, finding the right infrastructure and engaging the right intermediaries.”
Business Post reports that Mr Popoola was on the programme last week to speak on the journey of the exchange in 60 years.
By Adedapo Adesanya
The Nigeria Customs Service (NCS) is seeking a reduction in import duty exemptions, which rose to N34 trillion, limiting its ability to increase its revenue generation threshold.
The Comptroller-General of the Customs Service, Mr Adewale Adeniyi, disclosed that the value of import duty exemption certificate approvals increased to that level in 2025, describing the policy as one of the major factors restricting its revenue generation.
At an investigative session of the Senate Committee on Finance with revenue-generating agencies in Abuja on Monday, Mr Adeniyi explained that government fiscal policies have continued to impact the revenue-generating capacity of the Customs Service, both positively and negatively.
“The NCS would have generated significantly higher revenue over the years if not for government-approved import duty waivers and other external factors affecting collections,” he said.
He added that the Import Duty Exemption Certificate scheme, introduced in March 2020, accounted for about N34 trillion in approvals in 2025, with nearly 60 per cent covering duty-free importation of military hardware due to Nigeria’s prevailing security challenges.
Other government-backed duty waivers, he noted, covered the importation of Compressed Natural Gas (CNG), electric and hybrid vehicles, healthcare equipment and medical supplies, industrial machinery and manufacturing inputs, as well as food import intervention programmes.
While acknowledging the impact of the waivers on Customs revenue, Mr Adeniyi argued that fiscal policy should not be assessed solely on the basis of revenue generation but also on its broader economic and social objectives.
He, however, urged the federal government to establish stronger monitoring mechanisms to ensure beneficiaries of duty waivers deliver the intended economic outcomes, including lower consumer prices, increased local production and improved healthcare access.
The committee also expressed displeasure over the absence of several heads of government agencies invited to the hearing, including the Nigerian Civil Aviation Authority (NCAA), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Industrial Training Fund (ITF), and the Federal Medical Centre (FMC), Jabi.
The Chairman of the Senate Committee on Finance, Mr Sani Musa, warned that the affected chief executives must appear at the committee’s next sitting or face severe sanctions under the Senate’s rules.
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By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rose by 0.40 per cent on Monday, July 13, buoyed by buying interest in 11 Plc, Central Securities Clearing System (CSCS) Plc and UBN Property Plc, which offset the profit-taking in Food Concepts Plc, the parent company of Chicken Republic.
11 Plc gained N20.69 to end at N227.64 per share compared with last Friday’s price of N206.95 per share, CSCS Plc grew by N1.83 to N91.48 per unit from N89.65 per unit, and UBN Property Plc added 1 Kobo to sell at N1.81 per share versus N1.80 per share.
On the flip side, Food Concepts Plc depreciated by 24 Kobo to close at N2.45 per unit, in contrast to the preceding session’s N2.69 per unit.
As a result, the market capitalisation increased by N9.2 billion to N2.587 trillion from N2.578 trillion, and the NASD Security Index (NSI) improved by 15.33 points to 4,311.67 points from 4,296.34 points.
Yesterday, the volume of securities traded by investors surged by 615.9 per cent to 9.1 million units from the previous 1.3 million units, and the value of securities rose by 997.1 per cent to N320.4 million from the preceding session’s N29.2 million, while the number of deals decreased by 12.5 per cent to 28 deals from last Friday’s 32 deals.
At the close of trades, 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, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units worth N6.5 billion, and CSCS Plc with 73.9 million units exchanged for N5.2 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units sold 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 transacted for N415.7 million.
