Economy
NGX Lauds CISI’s Efforts to Enhance Trust in Financial Services Sector
By Aduragbemi Omiyale
The Chartered Institute for Securities and Investments (CISI) has been commended by the Nigerian Exchange (NGX) Limited for enhancing trust in the financial services sector.
The exchange gave this commendation last Thursday when the institute sounded the closing gong as part of the commemorative activities of its 30th anniversary.
The Divisional Head of Listings Business at the NGX, Mr Olumide Bolumole, described the organisation as a worthy partner interested in upholding standards.
“The exchange is excited to commemorate the 30th year anniversary of the CISI, a leading global professional body for securities, investment, wealth and financial planning professionals.
“We recognize the achievements of the Institute in raising the standards of skills and qualifications as well as enhancing trust in the financial services sector and this past 30 years is a testament to upholding the charitable objectives over the years.
“Through the learning arm, X-Academy, NGX is pleased to have joined forces with The Institute to achieve greater public benefit by raising professionalism across financial services by delivering a wide range of trainings and globally recognized certifications for financial and investment professionals.
“Whilst embracing our role in the financial services ecosystem through capacity building, we will continue to actively engage with the community to aid the advancement, dissemination of knowledge and certification of professionals in the field of securities and investments,” he said.
In his remarks, the Director of Global Business Development at CISI, Mr Kevin Moore, thanked NGX and the entire capital market community for acknowledging the milestone achievements and supporting the institute since its emergence from the London Stock Exchange (LSE).
“As an institute that thrives on collaboration and the support of volunteers, I must say that NGX is one of the best partners the CISI has had in one of the most exciting countries we operate.
“We are confident that the partnership will continue to thrive even as we advance over the next 30 years. As the capital market continues to evolve, we are certain that no matter how interesting the topics to consider become, CISI will stay true to its ageless motto – my word is my bond,” he said.
The not-for-profit, professional body emerged from the LSE in 1992 with 4,800 members in the UK. Today the CISI provides qualifications, continuing professional development and upholds the highest standards of integrity for its 45,000 members in over 100 countries.
The CISI’s membership spans wealth management, financial planning and capital markets and in partnership with regulators in over 70 jurisdictions, delivers 40,000 exams a year.
Since the partnership between CISI and NGX’s X-Academy was established in 2018, over 100 participants have passed through
The Academy, participating in various trainings on securities and investment as well as capacity development activities initiatives that contribute towards international certification in wealth and investment management.
Furthermore, with the surge of alternative securities such as Sukuk, working with the CISI, international and Nigerian representatives, X-Academy has introduced trainings on Islamic Finance and other capital market instruments.
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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