Economy
SEC, NGX, FMDQ to Charge 0.025% on Bond Transactions

By Dipo Olowookere
From January 1, 2022, the Securities and Exchange Commission (SEC) will begin to charge regulatory fees on bond transactions at the secondary market.
A notice from the agency said this action is pursuant to Section 13(u) of the Investments and Securities Act (ISA), 2007 and Schedule 1, Part D of the SEC Rules (Registration Fees, Minimum Capital Requirements, Securities and others) which empower it to levy, among others, fees on transactions relating to investments and securities business in Nigeria.
According to the circular dated December 15, 2021, a fee of 0.025 per cent would be charged on the total value of all secondary market transactions on bonds.
It further stated that the securities exchange, including the Nigerian Exchange (NGX) Limited and FMDQ Securities Exchange, on which the transactions occurred, will charge an amount not exceeding 0.025 per cent of the trades, while the bond transactions by dealing members, who are majorly the brokerage firms, will attract a single regulatory fee of 0.0001 per cent of the total value of the transactions, though they are exempt from the initial 0.025 per cent fee.
SEC, which is the apex regulatory body for the capital market in Nigeria, stated that this new fee structure “supersedes previous directives” given by the commission on the subject.
“This circular is made pursuant to Section 13(u) of the Investments and Securities Act (ISA), 2007 and Schedule 1, Part D of the SEC Rules (Registration Fees, Minimum Capital Requirements, Securities and others) which empower the Securities and Exchange Commission (SEC) to levy, among others, fees on transactions relating to investments and securities business in Nigeria.
“The circular stated that Capital Market Operators (CMOs) and stakeholders generally are hereby notified that: a regulatory fee structure on secondary market transactions on Bonds will take effect from January 1, 2022, and secondary market transactions on bonds shall include bond transactions executed on a securities exchange (exchange), reported by voice or by any other means to exchange as having being transacted thereon or of which the information of the transaction details are featured on the exchange’s platform for purposes including but not limited to onward transmission to a depository for settlement, price discovery and corporate disclosure.
“The circular also stated that by this fee structure, the SEC will charge 0.025% of the total value of all secondary market transactions on bonds, while the securities exchange on which the transaction occurs will charge an amount not exceeding 0.025% of the total value of secondary market transactions on bonds while bond transactions by dealing members will attract a single regulatory fee of 0.0001% of the total value of the secondary market transactions on bonds, and are exempt from the 0.025% fee charge earlier stated,” the disclosure said.
In another development, the SEC has informed all CMOs that the annual renewal of registration for the year 2022 will commence from 1st January, 2022.
It stated that in line with its rules and regulations, all CMOs are to complete the process of renewal of registration for 2022 on or before January 31, 2022, via www.eportal.sec.gov.ng.
“For enquiries or support in completing the process, please contact any of the persons below listed; Franca Isiguzoro, [email protected]; Nakwada Ahmed, [email protected]; Zarami Abubakar, [email protected]; and Okechukwu Callista, [email protected].”
Economy
Four Stocks Show Investors Love at NASD Valentine’s Day Trading

By Adedapo Adesanya
Four price gainers lifted the NASD Over-the-Counter (OTC) Securities Exchange by 0.54 per cent on Friday, February 14.
Okitipupa Plc improved its share price by N11.29 to close at N124.18 per unit versus N112.89 per unit, Mixta Real Estate Plc appreciated by 34 Kobo to finish at N3.76 per share versus the preceding day’s N3.42 per share, Afriland Properties Plc went up by 62 Kobo to settle at N21.03 per unit compared with N20.41 per unit, and FrieslandCampina Wamco Nigeria Plc jumped by 5 Kobo to trade at N39.95 per share, in contrast to the preceding day’s N39.90 per share.
At the close of business, the market capitalization rose by N9.91 billion to N1.828 trillion from N1.818 trillion and the NASD Unlisted Security Index (NSI) increased by 17.49 points to 3,227.53 points from the 3,210.04 points recorded on Thursday.
During yesterday’s session, the volume of securities transacted by investors jumped by 1,001.3 per cent to 5.1 million units from the 465,820 units transacted in the previous trading day.
Also, the value of transactions surged by 1,025.4 per cent to N108.5 million from N9.6 million, while the number of deals went south by 10 per cent to nine deals from 10 deals recorded on Thursday.
Impresit Bakolori Plc finished the day as the most active stock by value (year-to-date) with 519.5 million units worth N504.3 million, trailed by FrieslandCampina Wamco Nigeria Plc with 7.4 million units valued at N293.2 million, and Geo-Fluids Plc with 9.3 million units sold for N44.8 million.
Similarly, Impresit Bakolori Plc ended the session as the most active stock by volume (year-to-date) with 519.5 million units worth N504.3 million, followed by Industrial and General Insurance (IGI) Plc with 69.6 million units sold for N23.6 million, and Geo-Fluids Plc with 10.7 million units valued at N51.2 million.
Economy
Naira Stable at Official Market, NAFEM, Appreciates at Black Market

By Adedapo Adesanya
The Naira was relatively stable against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, February 14, though it shed 10 Kobo or 0.01 per cent to sell at at N1,510.10/$1 compared with the previous day’s value of N1,510.00/$1.
However, it depreciated against the Pound Sterling in the official market during the trading day by N7.32 to quote at N1,879.42/£1 versus the N1,872.42/£1 it was sold at the previous session and lost N6.27 against the Euro to settle at N1,566.23/€1, in contrast to Thursday’s closing rate of N1,559.96/€1.
At the parallel market, the Nigerian Naira improved its value against the US Dollar yesterday by N5 to finish at N1565/$1 compared with the preceding session’s value of N1,570/$1.
As for the cryptocurrency market, it was positive on Friday after investors overlooked recent data that frustrated the landscape.
This week, the US data released showed increment in the Consumer Price Index (CPI). This shows the US Federal Reserve will likely wait till June before making changes to the current interest rate levels.
Over the last two weeks, the US Securities and Exchange Commission (SEC) has also acknowledged applications for Litecoin and Solana exchange traded funds (ETFs) — indicating that the SEC’s leadership under the Donald Trump administration has changed its tact to crypto-related listings.
Ethereum (ETH) expanded its value by 5.4 per cent to sell at $3,394.79, Solana (SOL) recorded a 4.4 per cent appreciation to end at $260.86, Cardano (ADA) jumped by 2.9 per cent to trade at $1.00, and Litecoin (LTC) saw a 2.6 per cent surge to quote at $116.78.
In addition, Bitcoin (BTC) appreciated by 2.1 per cent to settle at $1o4,978.31, Ripple (XRP) rose 0.7 per cent to $3.16, Dogecoin (DOGE) increased by 0.6 per cent to finish at $0.3572, and Binance Coin (BNB) gained 1.6 per cent to sell for $710.31, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) remained unchanged at $1.00 each.
Economy
Stock Investors Suffer Valentine’s Day Heartbreak After N697bn Loss

Dipo Olowookere
It was a sad Valentine’s Day for local stock investors as the Nigerian Exchange (NGX) Limited depreciated on Friday by 1.02 per cent as a result of profit-taking.
This dragged the market capitalisation below N68 trillion because its value went down by N697 billion to N67.419 trillion from the N68.116 it closed on Thursday.
In the same vein, the All-Share Index (ASI) decreased by 1,118.09 points to 108,053.95 points from the 109,172.04 points recorded a day earlier.
The market bled yesterday as a result of the selling pressure across the key segments of the bourse except the industrial goods space, which closed higher by 0.78 per cent.
The consumer goods counter weakened by 5.01 per cent, the energy sector lost 2.34 per cent, the banking industry slumped by 0.75 per cent, and the insurance index depreciated by 0.15 per cent.
However, investor sentiment remained strong during the session. This was because the exchange ended with 38 price gainers and 28 price losers, implying a positive market breadth index.
BUA Foods slipped by 10.00 per cent to N373.50, DAAR Communications went down by 9.09 per cent to 70 Kobo, Aradel Holdings shed 6.90 per cent to trade at N530.00, Livestock Feeds tumbled by 6.09 per cent to N6.01, and Beta Glass plunged by 5.74 per cent to N95.20.
Conversely, Royal Exchange gained 10.00 per cent to sell for 99 Kobo, UPDC improved by 9.88 per cent to N3.78, The Initiates advanced by 9.76 per cent to N4.05, Red Star Express surged by 9.09 per cent to N6.00, and CWG increased by 7.41 per cent to N8.70.
A total of 478.8 million equities worth N13.9 billion exchanged hands in 15,613 deals on Friday versus the 427.1 million equities valued at N9.2 billion traded in 16,342 deals on Thursday, representing a fall in the number of deals by 4.46 per cent, and a growth in the trading volume and value by 12.11 per cent and 51.09 per cent apiece.
Leading the activity chart was Sterling Holdings with 88.6 million stocks valued at N531.8 million, Access Holdings transacted 29.7 million equities worth N835.1 million, Veritas Kapital traded 21.6 million shares for N26.0 million, AIICO Insurance exchanged 20.1 million stocks worth N34.6 million, and Honeywell Flour traded 18.4 million equities valued at N267.7 million.
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