Economy
Nigerian Stock Market Jumps to Level Last Seen in 2008
By Dipo Olowookere
The Nigerian stock market has started to gain the confidence of investors and this may have been boosted by the decision of the Central Bank of Nigeria (CBN) to retain the interest rate at 11.50 per cent on Tuesday.
At the market on Wednesday, the Nigerian Exchange (NGX) Limited appreciated by 1.29 per cent on the back of interest in the shares of Airtel Africa Plc.
According to the trading data analysed by Business Post, the All-Share Index (ASI) closed at a 13-year high of 46,529.99 points after it added 590.48 points to its previous value of 45,939.51 points.
The last time the benchmark index was in this region was in September 2008, when it finished at 46,216.13 points before the ill-famous stock market crash, which also occurred across the globe.
At the exchange yesterday, the market capitalisation expanded by N318 billion to finish the session at N25.073 trillion compared with N24.755 trillion it ended on Tuesday.
It was observed that the market breadth closed at equilibrium at the midweek session with 19 appreciating stocks and 19 depreciating stocks.
On the gainers’ table, Airtel Africa led with a price appreciation of 10.00 per cent to trade at N1271.00, Ecobank grew by 9.55 per cent to N10.90, Courteville improved by 9.09 per cent to 60 kobo, Academy Press rose by 8.86 per cent to 86 kobo, while Learn Africa jumped by 8.53 per cent to N1.40.
On the losers’ log, Cadbury Nigeria led with a price depreciation of 9.47 per cent to close at N8.60, Prestige Assurance lost 8.70 per cent to trade at 42 kobo, Champion Breweries declined by 7.84 per cent to N2.35, Linkage Assurance depleted by 7.14 per cent to 52 kobo, while Neimeth deflated by 5.26 per cent to N1.80.
During the session, a total of 329.0 million stocks worth N4.8 billion exchanged hands in 4,219 deals compared with the 247.7 million stocks worth N3.6 billion transacted in 4,242 deals, indicating a growth in the trading volume and value by 32.82 per cent and 34.66 per cent respectively and a decline of 0.54 per cent in the number of deals.
Multiverse ended the day as the most traded equity with a turnover of 57.6 million units worth N11.9 million, followed by Mutual Benefits with the sale of 48.3 million units valued at N12.1 million.
GTCO exchanged 36.8 million shares for N936.9 million, Chams sold 22.1 million stocks valued at N4.6 million, while Nigerian Breweries traded 13.4 million equities worth N632.5 million.
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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