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Economy

NGX Woos Unlisted Companies Seeking Platform to Raise Funds

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Me Cure Industries Unlisted Companies

By Dipo Olowookere

Unlisted companies looking to raise funds to run their businesses have been advised to consider using the Nigerian Exchange (NGX) platform to achieve this goal.

The Divisional Head of Listings Business at NGX Limited, Mr Olumide Bolumole, gave this advice last Friday when a leading healthcare company serving millions of patients, Me Cure Industries Limited, listed its N3 billion 5-year series 1 fixed rate senior secured bond on the exchange.

Mr Bolumole said NGX has maintained its “commitment to driving sustainable products and responsible investment in our market.”

“We are, therefore, pleased to celebrate this listing from Me Cure, a company leveraging technology to help people fight everyday illnesses.”

“Today’s listing represents a pivotal milestone in the growth journey of Me Cure Industries and I congratulate its board and management for this landmark achievement, as well as the commitment towards ensuring the sustained growth of the company.

Looking ahead, we encourage Me Cure and other unlisted issuers to utilize the NGX platform to meet future capital needs across debt and equity to support business expansion in line with their overall corporate strategy,” he further said.

On his part, the Chairman of Me Cure Industries, Mr Samir Udani, stated that, “It gives me great pleasure to share this electronic podium as a business owner who has crossed a milestone today.

“Entrepreneurs like me live for days like this and it is a matter of pride to be welcomed as a new member of the NGX family. The path to success is steep, but with the encouragement of NGX, we at Me Cure will contribute to building and shaping Nigeria’s healthcare industry any way we can.”

“COVID-19 has shown how countries can become vulnerable, making healthcare investments are must-have in our country.

“Therefore, we are focused on sustaining and growing our existing basket of over 100 products.

“Finally, we are pleased to say that our paths will once again cross as we have made the bold decision to list on the growth board of NGX in coming months,” he said.

In his remarks, the Group Executive Director, Cordros Capital (Lead Financial Adviser/Issuing House), Mr Femi Ademola, expressed his appreciation to capital market stakeholders and other professional parties to the transaction like Vetiva Capital Management Limited and Greenwich Merchant Bank Limited.

“I must thank NGX for the opportunity to join Me Cure for this important occasion of listing. We appreciate the collaboration we enjoyed with NGX during this process and are confident this will continue into the future.

“We must also thank Me Cure for having faith in us to drive this process to a successful end. We believe the healthcare sector is important in the economic growth of Nigeria because of its invaluable contribution to human capital development, which should be prioritised at this time,” he further stated.

Me Cure Industries raised the N3 billion note under its N20 billion debt issuance programme.

NGX has continued to facilitate listing and trading activity in the market while remote trading and working from home continues.

This year, the exchange has facilitated needed financing of over N4.6 trillion in capital raised by governments and corporates across various asset classes.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Economy

Stanbic IBTC Ignites Investment Spark with InvestBeta Season 2

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InvestBeta Season 2

Following the success of its debut season, Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings PLC, announces the return of the InvestBeta Game Show, with registration officially open.

The second season of the InvestBeta show builds on the first edition, aimed at equipping young Nigerians with real-world financial skills in a fun, relatable, and competitive format. The show’s first season, which aired in 2024, captured the attention of Gen-Z viewers across the country, blending entertainment with investment education in a way that had never been done before. With positive feedback, it proved that young Nigerians are ready to learn how to grow their money, and all they need is the right platform.

The new season reflects the Group’s broader youth-focused mission through Beyond Dreams, its dynamic community created for Nigerians aged 18–30. The community aims to help young people turn their aspirations into reality through secure, timely and smart investment choices. Since its inception, Beyond Dreams has grown to a network of over 90,000 young members, generated 2,100+ new investment accounts, and continues to position the Group as a trusted partner in the financial futures of Nigeria’s youth.

Busola Jejelowo, Chief Executive, Stanbic IBTC Asset Management noted InvestBeta reflects our deep commitment to financial education. She said, “We understand that today’s young people want more than just advice but practical, hands-on experience. This is why the InvestBeta game show is here to change how young Nigerians see money and what they can do with it.”

Entries are now open to eligible young Nigerians who want to be part of Season 2. Registration is free via the official link: https://bit.ly/StanbicIBTCInvestBeta. Successful applicants will be selected to compete in a series of challenges designed to test their knowledge, strategy, and creativity around real-life financial scenarios.

And for those who missed the first season, full episodes are available to watch on Stanbic IBTC’s official YouTube channel. From quick financial questions to investment tips, Season 1 offered real lessons with real impact, and Season 2 is gearing up to raise the bar.

To stay in the loop, follow @beyonddreamsng across all social media platforms and be part of the countdown to the second season of Nigeria’s most engaging youth-focused investment competition.

If you are 18 to 26, curious about how money works, and ready to build your future, this is your sign.

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Economy

OTC Exchange Jumps 0.43%

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OTC stock exchange

By Adedapo Adesanya

Trading activities at the NASD Over-the-Counter (OTC) Securities Exchange ended on a positive note with a 0.43 per cent growth on Thursday, July 17.

The expansion recorded yesterday raised the market capitalisation by N8.68 billion at the close of business to N2.042 trillion from the N2.033 trillion quoted at the preceding session, and the NASD Unlisted Security Index (NSI) gained 14.83 points to settle at 3,487.67 points compared with the 3,472.84 points it finished on Wednesday.

According to data, there were two price gainers during the trading session, with Okitipupa Plc growing by N4.50 to close at N239.50 per share versus the N235.00 per share it ended at midweek, as Food Concepts Plc chalked up 29 Kobo to close at N3.20 per unit, in contrast to the previous day’s N2.91 per unit.

On the flip side, the bourse recorded a price loser and it was UBN Property Plc, which lost 22 Kobo to end at N2.02 per share compared with the preceding day’s N2.24 per share.

At the close of business, the volume of trades surged by 280,246.7 per cent to 252,312 units from the 90 units traded during the midweek session, the value of transactions increased by 365,667.5 per cent to N21.4 million from N5,850, and the number of deals went up by 525 per cent to 25 deals from four deals.

Okitipupa Plc remained the most traded stock by value on a year-to-date basis with 153.9 million units valued at N4.9 billion, followed by Air Liquide Plc with 507.2 million units sold for N4.2 billion, and FrieslandCampina Wamco Nigeria Plc with 42.3 million units worth N1.8 billion.

Impresit Bakolori Plc remained the most active stock by volume on a year-to-date basis with the sale of 536.9 million units for N524.8 million, trailed by Air Liquide Plc with 507.2 million units valued at N4.2 billion, and Geo-Fluids Plc with a turnover of 272.3 million units worth N493.4 million.

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Economy

Naira Crumbles Further to N1,533/$1 at Official FX Market

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flow of naira notes

By Adedapo Adesanya

The value of the Naira further depreciated against the US Dollar by N3.26 or 0.21 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEM) segment of the forex market on Thursday, July 17 to N1,533.22/$1 from the previous closing price of N1,529.96/$1.

Equally, the domestic currency weakened against the Pound Sterling in the official FX market during the trading session by N2.76 to close at N2,056.52/£1 compared with the previous day’s rate of N2,053.76/£1 but appreciated against the Euro by N2.81 to finish at N1,776.42/€1, in contrast to the N1,779.23/€1 it was traded at midweek.

In the black market, the exchange rate of the Nigerian Naira and the US Dollar remained unchanged yesterday at N1,535/$1, according to data obtained by Business Post.

The poor performance of the Naira in the spot market on Thursday came amid increased demand despite positives that indicate that the country’s reserves will strengthened on improved crude output as well as enhanced foreign portfolio investment (FPI) inflows amid slowdown in import trade-related outflows.

In the first six months of 2025, the Central Bank of Nigeria (CBN) injected a total of $4.1 billion into the FX market to stabilise the Naira and ease liquidity pressures in the currency market, 215 per cent higher than the $1.3 billion recorded during the same period in 2024, according to the latest CSL Stockbrokers’ H2 2025 Outlook report.

The analysts at CSL, however, expressed concerns over the sustainability of the currency defence strategy, citing weak oil earnings, subdued foreign portfolio investment inflows, and uncertainties around external financing.

As for the cryptocurrency market, it was bullish as the US made the historical milestone towards stablecoin-regulating legislation.

The first major crypto regulatory initiative in the US is about to become law after the House of Representatives passed the stablecoin bill known as the GENIUS Act.

The approval came directly on the heels of another major legislative accomplishment for the industry, when the House also passed the Clarity Act that would govern the oversight of the digital assets markets in the US

During the trading session, Dogecoin (DOGE) jumped by 14.7 per cent to $0.2423, Ripple (XRP) appreciated by 13.1 per cent to $3.56, Cardano (ADA) added 12.4 per cent to trade at $0.8664, Litecoin (LTC) rose by 10.9 per cent to $108.52, Ethereum (ETH) expanded by 7.4 per cent to $3,645.41, Solana (SOL) improved by 6.4 per cent to $182.76, Binance Coin (BNB) soared by 5.1 per cent to $748.01, and Bitcoin (BTC) advanced by 1.6 per cent to $120,390.40, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 apiece.

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