Economy
Nigeria Woos Saudi to List Aramco Shares, Others on NGX

By Aduragbemi Omiyale
Efforts are being made to ensure that some companies trading their shares on the Saudi Stock Exchange (Tadawul) like Aramco, Riyad Bank, and others, list their equities on the Nigerian Exchange (NGX) Limited.
According to the Chairman of NGX Group Plc, Mr Umaru Kwairanga, this would boost inflows of foreign exchange (forex) into the country and attract more investors to Nigeria.
At the moment, a few companies sell their shares on the NGX and the London Stock Exchange (LSE) and they are Seplat Energy, GTCO, and Airtel Africa.
Companies are allowed to list their stocks on two exchanges and this is called dual listing.
Over the week, President Bola Tinubu was in Saudi Arabia for the Saudi-Africa summit in Riyadh and on the sidelines of the event, Mr Kwairanga discussed how Saudi firms can also trade their equities on the NGX, especially now that Mr Tinubu was carrying out economic reforms.
He disclosed that the summit was an opportunity to seek cooperation between the Saudi government and the Nigerian business environment.
“We believe with our population, and many other advantages we have opportunities to showcase, to Africans, Arabs based out of Saudi Arabia,” he said, expressing optimism over opportunities in the NGX amid FX scarcity challenges.
“One of the discussions we had is on dual listing between the Saudi Stock Exchange and the NGX. We had a discussion with the Minister of Environment and his officials, looking at how our biggest companies quoted on NGX going to leverage this.
“We are going to take companies like Aramco to be listed on the NGX. We intend to replicate what we did on the London Stock Exchange (LSE) with the Saudi Stock Exchange regarding dual listings.
“Last month we were with Mr President in NASDAQ. We had so many discussions on many business opportunities.
“So, it will attract a lot of investors into the Nigerian economy and I believe this government is doing a lot regarding reforms.
“We need to come and showcase investors and you can see the way people have applauded Nigeria’s delegates that have come for this conference,” he stated.
Economy
Stanbic IBTC Ignites Investment Spark with 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.
Economy
OTC Exchange Jumps 0.43%

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

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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