Economy
Nigerian Green Bond Market Grows to N49.19bn
By Dipo Olowookere
In three years, the Nigerian green bond market grew by N49.19 billion from the scratch, giving local investors alternative investment opportunities and deepening the ecosystem, Business Post reports.
Before 2017, the space was untapped but the desire by the regulators, including the Securities and Exchange Commission (SEC), the Debt Management Office (DMO) and the Nigerian Exchange (NGX) Limited, spurred the creation of the market in Nigeria.
A total of four issuances have been recorded in the country from 2017 to 2019. Nigeria has not recorded any since the last two years and one of the major reasons could be the COVID-19 pandemic of last year.
In 2017, the Federal Government of Nigeria (FGN) issued the debut N10.69 billion, 13.48% 5-year sovereign green bond; followed by the N15 billion 15.5% 5-year fixed-rate senior unsecured green bond issued by Access Bank Plc; the N8.5 billion 15.6% 15-year guaranteed fixed-rate senior green infrastructure bond by North-South Power (NSP) Company; and the Series II N15 billion 14.5% FGN 7-year sovereign green bond in 2019, which recorded a 220 per cent subscription rate (oversubscribed by N17.93 billion).
In the view of the CEO of NGX Limited, Mr Temi Popoola, the local green bond market as well as the Sukuk market, have huge potentials to deepen the capital market.
“The potential for Sukuk and green bonds remains immense and is likely to expand over the years underpinned by new markets, products and issuers and healthy investor investors’ appetite,” he said at a webinar held on Tuesday on Green Bonds: More Than Just Investing.
Speaking further, Mr Popoola assured that, “The exchange will continue to provide an efficient and liquid market for investors and businesses in Africa, to save and access ethical and SDG compliant capital and investments.”
“We promise to continue our collaboration with all market stakeholders, to collectively contribute towards the enhancement of this exciting asset class, and ultimately towards the growth of green and Sukuk bonds in Nigeria and Africa at large,” he further assured.
The summit was held as part of efforts to drive the development and promotion of retail participation in the Nigerian capital market. It was put together in collaboration with APT Securities and Funds Limited, with different stakeholders in attendance.
In his presentation, the Director-General of SEC, Mr Lamido Yuguda, represented by Mr Abdulkabir Abass, lauded the organisers, saying “educational programmes such as this” were in line with his agency’s determination to build “capacity and growth the depth and breadth of the market.”
“This is particularly noteworthy in the emerging segments of non-interest and socially responsible investment.
“As the apex regulator, the SEC has the dual responsibility of regulation and market development. Forums like this, therefore, afford us the opportunity to educate retail investors on the gain of investing in the Nigerian capital market through green and Sukuk bonds.
“These segments of the market are quite unique and boast full potential that can facilitate the deepening of financial systems while spurring the growth of the economy, making this deliberation indeed timely,” he added.
The webinar featured a presentation on Harnessing Green Bond as a Tool for Personal Growth by the Assistant Director, Securities Issuance Unit, DMO, Mr Adamu Mohammed, who pointed out that investors were increasingly demanding socially responsible investment and have expressed a strong appetite for green bonds evidenced by subscription rates in Nigeria’s sovereign green bonds increasing to 220 per cent in 2019 over the 110 per cent at the debut issuance.
The Managing Director/CEO APT Securities, Mr Kasimu Garba Kurfi, used the occasion to provide insights on bridging the gap between ethical investing and socio-economic development, before going on to feature in a panel session alongside Ms Ummahani Ahmad Amin, Board Member, NGX; and Dr Afolabi Olowookere, Head, Economic Research and Policy Management Division, SEC.
By Aduragbemi Omiyale
The Nigeria Police Force (NPF) has promised to work with the Securities and Exchange Commission (SEC) and the Nigerian Exchange (NGX) Group Plc for the prevention of financial crime, and the reinforcement of trust and confidence in Nigeria’s capital market.
The Inspector General of Police, Mr Kayode Egbetokun, gave this assurance on Wednesday at the closing gong ceremony in his honour at the NGX in Lagos.
The police chief said, “A transparent and well-regulated capital market is vital to Nigeria’s economic growth. The Nigeria Police Force remains committed to working with regulators and market operators to prevent financial crime, protect investors, and uphold the integrity of our financial system.”
Earlier in his welcome address, the chairman of NGX Group, Mr Umaru Kwairanga, commended the leadership of the police in supporting market integrity.
“Market integrity is a shared responsibility. By honouring the Inspector-General of Police, we are reinforcing the importance of institutional alignment in protecting investors and preserving trust in our financial system.
“Strong collaboration between regulators, enforcement agencies, and market infrastructure institutions is essential to building a resilient and credible market that supports economic growth,” he stated.
The Director-General of SEC, Mr Emomotimi Agama, while speaking, emphasized the importance of coordinated enforcement, noting: “Investor protection is at the core of market regulation, and today’s engagement highlights how critical collaboration with law enforcement is to achieving that mandate. This partnership strengthens our enforcement capacity, enhances deterrence against illegal investment activities, and reinforces confidence in the Nigerian capital market.”
As for the chairman of NGX Limited, Mr Ahonsi Unuigbe, “A transparent and orderly market can only thrive where rules are respected and misconduct is addressed decisively. The presence of the Nigeria Police Force in this collective effort sends a strong signal that safeguarding the market is a national priority.”
Similarly, the chief executive of NGX Group, Mr Temi Popoola, stressed the importance of aligning innovation with oversight, pointing out that, “Technology and market growth must be supported by strong enforcement and investor protection frameworks. Our collaboration with the SEC and the Nigeria Police Force reflects a unified approach to preserving the credibility of Nigeria’s capital market.”
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange rallied by 0.09 per cent on Wednesday, February 4, amid renewed appetite for unlisted stocks.
This lifted the NASD Unlisted Security Index (NSI) by 3.18 points to 3,641.30 points from the previous session’s 3,641.30 points and raised the market capitalisation by N1.9 billion to N2.180 trillion from the N2.178 trillion quoted on Tuesday.
The bourse recorded three price gainers and four price losers at the midweek session.
The advancers were led by Air Liquide Plc, which went up by N2.04 rise to end at N22.53 per share versus the previous session’s N20.49 per share, Central Securities Clearing System (CSCS) added 97 Kobo to sell at N44.97 per unit versus N44.00 per unit, and Acorn Petroleum Plc appreciated by 2 Kobo to N1.37 per share from N1.35 per share.
On the flip side, Geo-Fluids Plc lost 55 Kobo to sell at N6.26 per unit versus N6.81 per unit, Nipco Plc depreciated by 48 Kobo to trade at N259.00 per share versus N259.48 per share, FrieslandCampina Wamco Nigeria Plc declined by 40 Kobo to N63.10 per unit from N63.50 per unit, and Industrial and General Insurance (IGI) depleted by 1 Kobo to 65 Kobo per share from 66 Kobo per share.
Yesterday, the volume of trades slid by 64.5 per cent to 2.5 million units from 7.0 million units, the value of transaction decreased by 53.2 per cent to N17.7 million from N37.9 million, and the number of deals went down by 47.1 per cent to 18 deals from 34 deals.
CSCS Plc remained the most traded stock by value on a year-to-date basis with 16.0 million units valued at N652.6 million, followed by FrieslandCampina Wamco Nigeria Plc with 1.7 million units exchanged for N111.2 million, and Geo-Fluids Plc with 11.7 million units traded for N76.1 million.
CSCS Plc was also the most active stock by volume on a year-to-date basis with 16.0 million units sold for N652.6 million, trailed by Mass Telecom Innovation Plc with 13.3 million units worth N5.3 million, and Geo-Fluids Plc with 11.7 million units valued at N76.1 million.
By Adedapo Adesanya
The Naira rallied at the different segments of the foreign exchange (FX) market on Wednesday as supply continues to outweigh demand, giving it an edge against the United States Dollar.
In the parallel market, the Nigerian Naira improved its value on the greenback yesterday by N5 to quote at N1,450/$1 compared with the previous day’s N1,455/$1, and at the GTBank FX desk, it gained N3 to trade at N1,383/$1, in contrast to Tuesday’s exchange rate of N1,386/$1.
In the the Nigerian Autonomous Foreign Exchange Market (NAFEX), which is also the official market, the Naira firmed up against the Dollar at midweek by N14.63 or 1.1 per cent to settle at N1,358.28/$1 versus the preceding session’s N1,372.91/$1.
Against the Pound Sterling, the domestic currency appreciated on Wednesday by N14.16 to N1,863.43/£1 from the previous day’s N1,877.59/£1, and gained N13.73 on the Euro to end at N1,606.03/€1 versus the N1,619.76/€1 it was exchanged a day earlier.
The strengthening of the Naira value has been driven by the injection of forex into the financial markets by foreign investors seeking attractive investments in the emerging markets, helping to boost Nigeria’s external reserves, which provide the Central Bank of Nigeria (CBN) with the capacity to support the local currency.
As of February 4, 2026, the reserves reached $46.59 billion.
The local currency has been able to find a solid path despite no indications of any intervention from the apex bank in recent week, strengthening the case of price discovery.
Policy moves by the CBN is also offering a backbone for the FX market as it considers some strategic reforms through a policy known as the Single Regulatory Window.
In its 2025 Fintech Report, the central bank said this scheme will significantly reduce time-to-market for new digital financial products by streamlining licensing and supervisory processes across multiple agencies.
Meanwhile, the cryptocurrency market was in red amid a broad sell-off in global technology stocks, with reports showing that liquidity was notably thin, amplifying price moves and contributing to forced liquidations. The decline followed a sharp sell-off in global technology stocks overnight, where concerns over the pace of artificial intelligence adoption and rising capital spending by major firms weighed heavily on valuations.
Bitcoin (BTC) lost 7.9 per cent to sell at $70,534.94, Ripple (XRP) declined by 11.2 per cent to $1.42, Binance Coin (BNB) slumped by 9.4 per cent to $689.70, Ethereum (ETH) crashed by 8.9 per cent to $2,072.46, and Solana (SOL) dipped by 8.7 per cent to $89.86.
In addition, Dogecoin (DOGE) depreciated by 6.9 per cent to $0.1008, Cardano (ADA) slipped by 6.8 per cent to $0.2792, Litecoin (LTC) dropped 5.1 per cent to trade at $57.56, and US Dollar Tether (USDT) went down by 0.1 per cent to $0.9980, while the US Dollar Coin (USDC) closed flat at $1.00.
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