By Adedapo Adesanya

The Managing Director of the NASD Over-the-Counter (OTC) Securities Exchange, Mr Eguarekhide Longe, has said the bourse in 2026 would play its role in expanding the economic space and anchoring enduring socio-political transformation and inclusive growth in the country.

Speaking as part of his new year message, the NASD helmsman noted that the steady gains recorded in the nation’s macro-economy will translate to further gains in 2026.

“In this regard, we are optimistic about the further structural reforms and gains that will attend the implementation of the Nation’s new tax law.

“We know that there are development gaps to be covered in improving hard and soft infrastructure, as well as supporting genuine entrepreneurs across the length and breadth of the country, providing justification for scaling up projects and businesses via the instrumentality of structured capital market platforms,” he said.

He also said the flagship OTC market performed moderately with new admissions and a consolidation of the staple performers in the trading year 2025.

“2025 has turned out, in many respects, to be a year of reasonably positive performance, financially, but more a year of tangible results from the diversification of the activities on NASD,” Mr Longe said.

Business Post analysis of the bourse’s 2025 Trading Summary showed that the exchange recorded a strong expansion in market capitalisation in 2025, even as overall trading activity by deal count declined compared with 2024.

Market capitalisation on the exchange more than doubled to N2.12 trillion in 2025, representing a 106 per cent increase from N1.03 trillion in 2024. The number of admitted securities also rose marginally to 47, up from 45 in the prior year, reflecting a 4 per cent growth.

The NASD Securities Index (NSI) rose by 18 per cent to 3,543.74 points, compared with 3,002.68 points in 2024. Similarly, the NASD Pension Index advanced by 21 per cent to 1,032.88 points, up from 954.33 points.

Trading volumes surged significantly during the year. Total volume traded climbed to 14.03 billion units, marking a 377 per cent increase from 2.98 billion units in 2024. However, this sharp rise in volume contrasted with a decline in transaction value, which fell by 43 per cent to N59.29 billion, down from N103.96 billion in 2024.

The total number of deals executed on the platform dropped to 6,456, representing a 26 per cent decline from 8,724 deals recorded the previous year, indicating fewer but larger or more strategic transactions.

The exchange also recorded notable listings in 2025, with Infrastructure Credit Guarantee Company PLC (InfraCredit), Paintcom Investment Nigeria PLC (Paintcom), and MRS PLC admitted to trading. In addition, the listing of the Access Bank PLC Rights Issue contributed to market growth. Combined, new listings on the NASD in 2025 were valued at approximately N1.121 trillion.

Commercial Paper admissions unto the NASD platform exceeded N34.32 billion in the trading year and maiden offer on the NASD Digital Securities platform of a tokenised Commercial Paper stood at N5 billion.

By Adedapo Adesanya

The trading compass at the NASD Over-the-Counter (OTC) Securities Exchange pointed north on Monday, January 5 after the market closed higher by 0.60 per cent.

The NASD Unlisted Security Index (NSI) added 21.49 points to close at 3,575.33 points compared to the previous session’s 3,553.84 points just as the market capitalisation inflated by N12.86 billion to finish at N2.139 trillion, in contrast to last Friday’s value of N2.126 trillion.

The growth recorded by the NASD OTC bourse yesterday was influenced by three securities led by FrieslandCampina Wamco Nigeria Plc, which gained N4.70 to close at N51.70 per share compared with the previous N47.00 per share.

Further, Geo-Fluids Plc appreciated by 43 Kobo to settle at N6.94 per unit versus N6.51 per unit, and Central Securities Clearing System (CSCS) Plc appreciated by 37 Kobo to N36.00 per share from N35.63 per share.

Data from the alternative stock exchange showed a drop in investor appetite as the volume of trades declined by 94.7 per cent to 193,973 units from 3.6 million units, while the value of transactions decreased by 68.2 per cent to N4.5 million from N14.1 billion, with the number of deals sliding by 34.8 per cent to 15 deals compared to 23 deals.

At the close of business, CSCS Plc was the most traded stock by value on a year-to-date basis with 341,080 units sold for N12.2 million, followed by Geo-Fluids Plc with 535,970 units valued at N3.5 million, and Industrial and General Insurance (IGI) Plc with 2.9 million units exchanged for N1.9 million.

However, IGI Plc was the most active stock by volume on a year-to-date basis with 2.9 million units traded for N1.9 million. trailed by Geo-Fluids Plc with 535,970 units worth N3.5 million, and CSCS Plc with 341,080 units valued at N12.2 million.

By Adedapo Adesanya

The Naira opened the week on Monday, January 5, higher against the US Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) after gaining N1.54 or 0.11 per cent to sell for N1,429.31/$1, in contrast to the preceding session’s N1,430.85/$1.

This positive run extended was witnessed against the Pound Sterling in the official market yesterday as the Nigerian currency improved its value by N5.51 to trade at N1,920.27/£1 versus last Friday’s price of N1,925.78/£1 and appreciated against the Euro by N10.80 to close at N1,667.43/€1 compared with the previous trading day’s rate of N1,687.24/€1.

At the black market, the Naira chalked up N5 against the US Dollar during the session to sell for N1,470/$1 versus the preceding session’s N1,475/$1 and at the GTBank forex counter, it lost N3 to settle at N1,438/$1 versus the previous value of  N1,435/$1.

The Naira seems to have continued from where it left of in 2025, a year that it maintained relative stability, a sharp contrast from the extreme volatility witnessed in 2024. The domestic currency exchange rate appreciated by 7.4 per cent year-on-year to close FY 2025 at N1,429/$1.

Despite pressure from the movement of the Dollar in the international market early on Monday, the Naira is shielded by a broadly stable outlook, supported by rising external reserves and sustained Foreign Portfolio Investments (FPIs).

Market analysts expect that the Central Bank of Nigeria (CBN) will maintain its strategic interventions in the FX market and implement initiatives aimed at boosting liquidity and curbing speculative activities.

As for the cryptocurrency market, Ripple (XRP) continued to trade above $2, driven by heavy institutional trading and a shrinking supply on exchanges. It’s value went up by 10.9 per cent on Monday to $2.36.

Spot XRP exchange traded funds (ETFs) in the US posted $48 million in inflows on Monday, extending a green streak for the products, which have not seen a single day of outflows since their November 13 launch.

Yesterday, Cardano (ADA) grew by 4.6 per cent to $0.4202, Solana (SOL) added 2.3 per cent to quote at $138.33, Ethereum (ETH) increased by 2.1 per cent to $3,223.22, Litecoin (LTC) expanded by 1.5 per cent to $83.45, Bitcoin (BTC) rose by 0.9 per cent to $93,323.81, Binance Coin (BNB) also appreciated by 0.9 per cent to $905.01, and Dogecoin (DOGE) soared by 0.2 per cent to $0.1505, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.