Economy
Nigeria Working to Encourage Agricultural, Mineral Commodities Market
By Aduragbemi Omiyale
The Director-General of the Securities and Exchange Commission (SEC), Mr Lamido Yuguda, has said Nigeria was working tirelessly to encourage the agricultural and mineral commodities market to grow the economy.
He disclosed this while addressing newsmen a few days ago in Lagos, noting that the country was blessed with various commodities that could be exported and provide the nation with foreign exchange (forex).
Mr Yuguda disclosed that efforts are being made to ensure agricultural produce are of exportable standards and quality, stating that the commission is collaborating with the Standards Organisation of Nigeria (SON) to develop standards for commodities.
He disclosed that as a result of the collaboration with SON, some of the standards have been developed and exposed to different markets close by, and they have been received very well.
The DG said that the development of these standards will pave the way for the export of these products to the international market and, in turn, boost the Nigerian economy.
He said that the agency was pleased about the new government’s mention of supporting the commodities sector as it will further boost the SEC’s efforts at developing the commodities sector.
“Already, we have licensed a total of 5 exchanges and also approved the trading and framework for operations of different instruments.
“We are collaborating with NAICOM, CBN, SON and the Fed Min of Solid Minerals and Mines in various ways to develop the sector. Ranging from capacity building, standard setting, domestic and international advocacy etc,” he said.
“This is a sector that the commission has been working strenuously to encourage, including agricultural and mineral commodities. This is a market that has a lot of potential for Nigeria.
“We are a very good agricultural nation, and we have a lot of resources, and right now, most of them are sold in local markets without any form standards, and because of that, a lot of our agricultural produce is rejected in the international market.
“You see, smaller countries are able to export their agricultural products, especially fruits. Our fruits are among the best in the world, but unfortunately, we are not participating in this market because of standardisation issues,” Mr Yuguda added.
The SEC chief added, “This is something in the right direction, it is a starting point, and I believe that going further in the near future, this could be something really significant. We expect the agricultural sector to grow significantly in the nearest future.
“We are also collaborating with the Ministry of Solid Minerals because there is a lot of opportunity in that sector. But right now, there is a lot of artisanal mining, so there needs to be a collaboration between state governments and the Ministry of Mines so that there is a kind of standardisation and those mining are licenced by the government, and this mining is happening on a sustainable basis”.
Mr Yuguda stated that as part of implementing the Capital Market Master Plan, the commission constituted a Technical Committee on Commodities Trading Ecosystem whose mandate was to identify challenges of the existing framework and develop a roadmap for a vibrant ecosystem.
“A committee comprising various stakeholders, including the SON, was set up to drive the implementation of the report. One of the recommendations in the report identified the development of grading and standardisation system in line with international best practice,” he said.
**Revokes Trading Licences of LMB, Platinum Stockbrokers
By Aduragbemi Omiyale
A stockbroking company, Premium Capital and Stockbrokers Limited, has been fined N5 million for engaging in “unauthorised sale of its clients’ securities.”
A circular issued by the Nigerian Exchange (NGX) Regulation Limited disclosed that the trading licence of the organisation has also been revoked.
In the notice signed by the Head of Market Regulation for NGX RegCo, Chinedu Akamaka, Premium Capital violated Rule 11.9 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules), which focuses on the Prohibition of Unauthorised Sale of Securities.
Business Post reports that Premium Capital was not the only stockbroker that had its trading licence withdrawn, as it also affected others.
The licence of LMB Stockbrokers Limited was revoked by NGX RegCo for prolonged inactivity, which falls contrary to Rule 6.4: Revocation of Inactive Dealing Members’ Licences, Rulebook of The Exchange, 2015 (Dealing Members’ Rules), as amended.
The same also affected Platinum Stockbrokers Limited, which has not witnessed activity on the floor of the NGX Limited for a while.
Similarly, the authorised dealing clerkship of Mr Bernard Oluwole Ilori, was taken back with immediate effect in alignment with an earlier determination by the Securities and Exchange Commission’s (SEC) Administrative Proceedings Committee (APC), which arose from his involvement in regulatory infractions connected to Mutual Alliance Investment and Securities Limited and resulted in his 10-year ban from the Nigerian capital market since March 25, 2021.
Investors have been “strongly advised not to engage in any activity with the firms” whose trading licenses have been revoked.
By Aduragbemi Omiyale
The securities of DN Tyre and Rubber Plc, and Greif Nigeria Plc have been delisted by the regulatory arm of the Nigerian Exchange (NGX) Group Plc, NGX Regulation Limited.
A statement signed by the Head of the Issuer Regulation Department of NGX RegCo, Mr Godstime Iwenekhai, said the delisting became effective on Thursday, April 9, 2026.
In the notice issued yesterday, it was further disclosed that the action complied with the provisions of Clause 14 of the Amended Form of General Undertaking, for Listing on Nigerian Exchange Limited General Undertaking.
According to this clause, “The exchange reserves the right to, at its sole and absolute discretion, suspend trading in any listed securities of the Issuer, delist such securities, or remove the name of the issuer (listed company) from the daily official list of the exchange with or without prior notice to the issuer, upon failure of the issuer to comply with any one or more of the provisions of this General Undertaking, or when in its sole discretion, the exchange determines that such suspension of trading or delisting is in the public interest, or otherwise warranted.”
It was explained that the shares of the two firms were delisted because they fell below the listing standards.
“The securities of DN Tyre and Rubber Plc and Greif Nigeria have been delisted from the facilities of Nigerian Exchange Limited (NGX) effective Thursday, April 9, 2026, on the grounds that the companies are operating below the listing standards of NGX and their securities are no longer considered suitable for continued listing and trading in the market,” the disclosure noted.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange declined by 0.95 per cent on Thursday, April 9, plunging the Unlisted Security Index (NSI) by 37.41 points to 3,893.50 points from 3,930.91 points.
In the same vein, the market capitalisation lost N22.38 billion during the session to N2.329 trillion from the N2.351 trillion it ended at midweek.
The OTC securities exchange was under selling pressure yesterday, resulting in a negative market breadth index after three securities lost weight and one gained weight.
Central Securities Clearing System (CSCS) Plc led the losers’ table after it shed N3.74 to sell at N64.21 per unit versus N67.95 per unit. Food Concepts Plc went down by 19 Kobo to N2.68 per share from N2.87 per share, and Free Range Farms Plc dropped 10 Kobo to settle at 90 Kobo per unit versus N1.00 per unit.
On the flip side, MRS Oil gained N5 to close at N165.00 per share compared with the preceding day’s N160.00 per share.
At the trading session, there was a 23.5 per cent jump in the value of securities to N40.4 million from N32.7 million, but the volume of securities fell by 81.9 per cent to 1.04 million units from 5.7 million units, and the number of deals went down by 29.7 per cent to 26 deals from the preceding session’s 37 deals.
At the close of transactions, Great Nigeria Insurance (GNI) Plc remained the most active stock by value on a year-to-date basis with 3.4 billion units valued at N8.4 billion, followed by CSCS Plc with 57.5 million units exchanged for N3.9 billion, and Okitipupa Plc with 27.5 million units traded for N1.8 billion.
Also, GNI Plc ended the trading day as the most traded stock by volume on a year-to-date basis with the sale of 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units worth N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion.
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