Economy
NGX, IFC Give Step-by-Step Process for Green Bonds Issuance
By Dipo Olowookere
Green bonds issuance is still relatively new in the Nigerian capital market and the Nigerian Exchange (NGX) Limited is making efforts to attract more investments to the ecosystem.
A green bond is a debt instrument issued by the government or a corporate organisation to raise funds for projects that are friendly to the environment.
On March 10 and 11, 2022, the NGX partnered with the International Finance Corporation (IFC), a member of the World Bank Group, to train issuers and market operators on the issuance of sustainable financial instruments.
The event themed Deep Dive in Green, Social and Sustainability Bonds Issuance was sponsored by the Kingdom of Netherlands and HSBC and was the second in a series of engagements aimed at further socialising sustainable financial products, particularly green bonds in Nigeria.
It was also a continuation of the collaboration between NGX and IFC on the promotion of sustainable finance across the Nigerian capital market under IFC’s REGIO Technical Assistance Program for Africa and builds on a similar training hosted in December 2021.
At the programme, participants got to know the best practices in sustainable finance issuance and also the unique characteristics of green social and sustainable bonds, the specific advantages of each instrument, as well as the detailed step-by-step process for issuing these instruments.
With a specific focus on green bonds, participants at the training were presented with an overview of the actors involved in the green bond issuance process, their roles, and responsibilities.
The training attendees equally had the opportunity to better understand different green bond labelling schemes, including CBI standard, as well as other important instruments and tools contributing to the CBI certification process such as CBI’s taxonomy and other classification systems.
Speaking at the training, Mr Temi Popoola, Chief Executive Officer of NGX, said, “The exchange is committed to fostering the growth of sustainable financial products that integrate the financial risks and opportunities associated with climate change and other environmental challenges.
“In recognition of the climate finance needs particularly in Nigeria and the urgent action required to combat climate change as enshrined in the Paris Agreement on Climate Change, the Nigerian Exchange Limited, in 2016, championed efforts along with government and industry stakeholders that culminated in the issuance of the maiden N10.69 billion (c. $25.8 million) 13.48 per cent 5-year green bond in 2017.
“We are pleased to continue our collaboration with Nigerian exchange globally recognised institutions such as IFC and CBI to share valuable experiences and best practices on green finance, and promote the development of sustainable finance market across our ecosystem.”
Also speaking at the event, Ms Denise Odaro, Global Head, Investor Relations, IFC, said “Green bonds are an integral part of advancing sustainability as they facilitate sustainable investments and innovative financing.
“IFC, as a partner in developing the issuing of green bonds, played a critical role when it launched a Green Bond Program in 2010 to help catalyse the market and unlock investment for private sector projects that support renewable energy and energy efficiency.
“Since then, IFC has issued globally 178 green bonds in over 20 currencies for over $10.5 billion. We continue to support our partners, such as the Nigerian Exchange, to provide the right knowledge, tools, and contribute to creating enabling conditions for green, social and sustainability issuances.”
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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