Economy
NGX Uniquely Positioned to Provide Sustainable Development—Popoola
By Aduragbemi Omiyale
The Nigerian Exchange (NGX) Limited has the capacity to provide sustainable development and combat climate change, the chief executive officer of the organisation, Mr Temi Popoola, has said.
According to him, the trading platform can facilitate the effective and efficient allocation of resources for the purpose of economic growth and development, saying the convening power of securities exchanges also positions these outstanding institutions as a driving force for change.
Speaking via a statement to celebrate World Environment Day, Mr Popoola said, “Amidst the unfortunate loss of lives and the associated economic downturn brought by the COVID-19 pandemic, the global capital market offered some respite through innovative financial solutions such as the COVID-19 bonds that are actively helping the global economic recovery.
“At the peak of the COVID-19 pandemic, we experienced high-level collaborations across the private and public sectors. More so, we saw the birth of innovative financial instruments developed in response to the COVID-19 crisis such as the unprecedented $3 billion impact bond raised by the African Development Bank.”
He explained that, “This year’s World Environment Day creates an opportunity for reflection. We need to reflect on the collective challenges we face in preserving the only place we know as our home and start to make decisions that put social and environmental benefits at the core of our individual activities and business operations.
“We have ‘Only one Earth’ and we all have a part to play in preserving it. The COVID-19 pandemic has shown us that our activities as individuals and businesses have an immediate impact on our loved ones, and on people all around the world. As we continue building back our lives and return business activities to normalcy, it is critical to rethink our model of growth.”
According to the CEO of NGX, “Over the course of my year at the exchange, I have become more convinced of the potential of securities exchanges serving as a force for good.”
“I have a firm belief that securities exchanges have a unique opportunity to advance sustainable development and combat climate change by fostering the growth of long-term sustainable finance in new ways that reflect the times that are characteristic of the world we live in today.
“In recent years, we have seen tremendous growth in green bonds as well as other sustainable financial instruments which are designed to tackle the climate crisis. As a leading securities exchange in Africa, NGX helped develop Africa’s first fully certified green bond, the debut Federal Government Sovereign N10.69 billion Green Bond. This is an area the Exchange has continued to play a leading role and will continue to with the support of all its stakeholders,” he added.
“As part of today’s celebration of the 2022 World Environment Day, we are set to make good our commitment to foster the growth of long-term finance in Nigeria by launching a dedicated platform for sustainable finance instruments,” he emphasised.
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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