Economy
NSE Seeks Input on Future of Capital Markets, Financial Systems
By Dipo Olowookere
Information reaching us indicates that all is now ready for the third edition of the Nigerian Stock Exchange (NSE) Market Data Workshop slated for Friday, October 19, 2018 in Lagos.
The event is put together by the NSE in partnership with Sterling Bank Plc and this year’s programme will take place at the Civic Center, Victoria Island, Lagos and is themed Market Data: Digitization, Disruption and Financial Inclusion.
According to a statement issued by the NSE, this year’s workshop will bring together Investors, Securities Exchanges, Market Regulators, Government Agencies, Policy Makers, Market Data Aggregators, Broker-Dealers and other capital market stakeholders to deliberate on the future of capital markets and financial systems in the wake of disruptive fourth industrial revolution technologies.
The one-day event, which is an exhibition style workshop, will feature presentations and panel discussions from thought leaders within the finance and technology sub-sectors. It will address the future of investing in a world of digitization, strategic partnerships for wider financial inclusion, and the need for customer centricity in digital transformation.
The event will provide businesses within the financial services sector the necessary insights required to key into innovative technology and harness it for enhanced customer experience.
Some of the confirmed speakers for the event include Ms Mary Uduk, Acting Director General, Securities and Exchange Commission (SEC); Mr Lanre Osibona, Senior Special Assistant to President Muhammadu Buhari on ICT; Mr Olayinka Oni, Chief Information Officer, Sterling Bank Plc; Mr Uchenna Igwebuike, Chief Executive Officer, Zanibal Solutions Limited; and Mr Agbe Ilusemiti, Technical Accounts Manager for Thomson Reuters, West Africa.
According to the Acting Divisional Head, Trading Business, NSE, Mr Femi Onifade, “The conference will provide an invaluable opportunity to engage industry experts about key disruptive technologies that are integral to the growth of the financial services sector, and which will indeed define the future of work, as well as the balance of economic power.
“These technologies will catalyse changes within economies and businesses at an unprecedented pace and scale than any of the preceding industrial revolutions. We hope that the event will provide the necessary insights and produce new partnerships that will challenge conventional methods and enhance our collective readiness to evolve and compete favourably on a global scale”.
Also speaking about the event, Mr Afeez Ramoni, Acting Head, Market Services Department, NSE said: “As a result of the convergence of web, mobile, cloud, IoT, big data as well as the increasing need for access to financial information anytime and everywhere, enterprises across all markets are witnessing disruption through digital transformation in every geography. This year’s edition of the workshop presents an opportunity for all stakeholders to share ideas on the best options to leverage in order to deepen financial inclusion”.
Other sponsors of the 2018 NSE Market Data Workshop include Zanibal Solutions, Gems Consult Limited, Meristem Group, Neulogic Solutions, CSL Stockbrokers Limited, Wapic Insurance Plc., Eagle Global Markets Limited, Central Securities Clearing System Plc. and NTEL.
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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