Economy
NSE Begins Process of Delisting Six Companies
By Dipo Olowookere
Six companies listed on the Nigerian Stock Exchange (NSE) are already being prepared to be pushed out of the stock market, Business Post has authoritatively learned.
Already, according to information available to us, the NSE has obtained approval of the Regulation Committee (RegCom) of its National Council to go ahead with the process.
This authorisation was received to allow the management of the exchange to commence process of delisting the six firm from the nation’s local bourse. By the time it is completed, the companies would no longer be allowed to trade their shares on the local stock exchange.
Document seen by Business Post indicated that of the six affected firm, only one is seeking to delist itself voluntarily, which is First Aluminium Nigeria Plc.
The five companies, which are presently in the process of being delisted by the NSE are Deap Capital Management Plc, Evans Medical Plc, The Tourist Company of Nigeria Plc, Anino International Plc and Nigerian German Chemical Plc.
Deap Capital Management is a Lagos-based fund management company operating in the capital market, mortgage banking, and oil and gas sectors. Its major products include DEAP Standard, DEAP Gold, DEAP Platinum and DEAP Classic, while its major services include fund management, portfolio management, capital.
Shares of the company were last traded on the NSE in October 2018 at 44 kobo per unit. They were admitted on the stock exchange on December 17, 2007.
For Evans Medical, it is one of Nigeria’s largest pharmaceutical manufacturing companies, which started business operations in the country in 1954.
The firm has been undergoing tough times for a while and in October 2017, it announced that the defunct Skye Bank Nigeria Plc, now Polaris Bank, and First Bank of Nigeria had taken over its asset. Shares of the company were last transacted on the NSE at 50 kobo per unit.
Another company on the list, The Tourist Company of Nigeria Plc, is involved in the operation of gaming and hospitality businesses in Victoria Island, Lagos. The firm owns and operates the popular Federal Palace Hotel and Casino in Victoria Island, Lagos. It also operates a casino, a banqueting facility, and a pool club.
The company, which still released its financial statements for Q1 2019 in April, is still active on the NSE, with its shares traded this week at N3.50k per share.
Anino International Plc is a firm which manufactures and markets a range of nutritional supplements and pharmaceutical products in Nigeria. The company specialises in nutritional products and supplements as well as intravenous solutions.
It was listed on the NSE on January 2, 1990 and its shares last exchanged at 25 kobo per share and has a market capitalisation of N6.1 million.
Nigerian German Chemical Plc, which has its office in Ogun State, is a manufacturer, seller and distributor of specialty industrial chemicals and pharmaceutical products.
It produces and sells specialty industrial chemical products consisting of chemical intermediates for use in the production of paints, textiles, plastics, leather and soaps.
In addition, it manufactures and markets household consumer products, and markets agrochemical and veterinary products, serving various market sectors, including healthcare, agrochemicals veterinary/animal healthcare, oil and gas industry, household consumer products and industrial chemicals. Its products include Albarika, Antelmin, Anusol, Benylin, Broncholyte, Ciproval, Cofeze, Colipan, Daga, Duphalac, Duphaston, Dusptalin, Fastaquine, Gelusil, Glanil, NGC-valgin, Oraldene, PaedAmol, PaediQuine, Sloans, Tabalon, Traflox, Atrazine 80 WP, Atrazine 500 FW, Glyphosate, Cypermethrin, Luxan Lindane, Diazinon, Dichlorvos, Dinamol and Engipal CVN-Y, among others.
Shares of this firm were last traded on the NSE in October 2017 at N3.44k each.
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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