Economy
NSE Organises Essay Competition on Financial Literacy & Tech
By Dipo Olowookere
The Nigerian Stock Exchange (NSE), in line with its commitment to building a financially savvy generation, has announced the commencement of the 2018 edition of its NSE Essay Competition for students in Senior Secondary Schools in the country.
A statement issued by the NSE disclosed that the topic for this year’s edition is ‘Discuss how technology can promote financial literacy and encourage investment habit among youths.’
The statement explained that theme of this year’s edition aims to bring the subject of technology to the fore and get young people to start thinking early on about how it can be applied to real life business situations.
This year’s competition, which is supported by Jim Ovia Foundation, opened on Monday, July 16, 2018 and will close on Friday, October 05, 2018. To enter the 2018 NSE Essay Competition, participants are required to email their typewritten entries, which should not be more than 1,000 words to [email protected].
The competition rewards the Top 10 winners out of which the top three will be presented with equity investments, University scholarship funds and personal Laptops/tablets at the Awards ceremony which comes up in October 2018. The winners will also be honoured with a Closing Gong ceremony at the stock exchange.
Schools of the top three winners will also be recognised and presented with prizes such as trophies, desktop computers and printers. The additional seven essay writers will receive consolation prizes, certificate of achievement and recognition at the awards ceremony.
According to the Head of Corporate Communications at the NSE, Mr Olumide Orojimi, improving financial literacy is important to the future of Nigeria.
“Youths are an important stakeholder group as it relates to planning for a sustainable future as a nation and we must imbibe in them, good financial skills that will assure a secured and great future for them.
“The competition serves as an essential platform. As the premier multi-asset securities exchange, this is one of the ways we contribute to building a financial literate Nigeria that can access various financial inclusion offering available to them.”
Since it’s commencement in year 2000, The NSE Essay Competition has inspired over 30,000 young people in over 3,500 secondary schools across Nigeria to showcase what they have learnt about the financial and capital markets. It provides an important opportunity for youths to engage in issues of importance to The Nigerian economy.
He noted that through this competition, the NSE has been able to promote financial literacy among young Nigerians, by encouraging them to learn how good financial decisions can better their lives now and in the future, and ultimately grow the economy.
“We continue to be inspired by both the increasing number of participation in this financial literacy activation and the boundless imagination that the topics spur amongst the vast majority of the students.
“This year’s theme could not have come at a better time as the world prepares for a fourth industrial revolution that will be primarily driven by technology. This year’s competition hopes to spark exceptional thinking as our youths prepare to embrace a sustainable financial future that is technology will play a major role,” he said.
Entries submitted for the competition are graded by a team of examiners identified in conjunction with the Chartered Institute of Stockbrokers at the first level. Successful writers will then proceed to the second stage by writing an in-person follow up essay on a related topic at any of the NSE branches closest to them. The final stage involved interviews at the NSE Headquarters in Lagos. This rigorous level of assessment is to ensure that only the best amongst equals emerge as winners.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
