Economy
SEC, UNILAG Hold Confab on Capital Market for Economic Growth, Development
By Dipo Olowookere
The Securities and Exchange Commission (SEC), as part of its efforts to push frontiers of the Nigerian capital market, has partnered with the University of Lagos (UNILAG) to hold a two-day conference next week.
The programme themed Leveraging the Capital Market for Economic Growth and Development is scheduled for September 11 and 12, 2019 at the Tayo Aderinokun Lecture Theatre, UNILAG, Akoka, Lagos.
The special guest of honour for the event is Mr Babajide Sanwo-Olu, the Governor of Lagos State; while Mr Femi Lijadu, the board Chairman of SEC; and Ms Mary Uduk, the acting SEC Director General, are the guests of honour.
The chief host of the event is the Vice Chancellor of UNILAG, Prof Toyin Ogundipe, while the host is Prof Owolabi Kuye, the Dean, Faculty of Management Science, UNILAG.
Guest speakers for the conference are Mr Oscar Onyema, the CEO of the Nigerian Stock Exchange (NSE); Mr Bola Onadele Koko, the MD/CEO of FMDQ Securities Exchange; and Mr Adedapo Adekoje, the President of Chartered Institute of Stockbrokers (CIS) Nigeria.
Others are Mr Bola Ajomale, the MD/CEO of NASD Plc; Mr Akin Akeredolu-Ale, the MD/CEO of Lagos Commodity and Futures Exchange; Mrs Toyin Sanni, the Group CEO of Emerging Africa Capital; and Mr Taiwo Adeniji, the Senior Director Investments Group at the Africa Finance Corporation (AFC).
Also expected to address the gathering include Mr Haruna Jalo-Waziri, MD/CEO of Central Securities Clearing System (CSCS) Plc; Prof Uche Uwaleke, the Conference Co-Chair, Director, Chief Economist at SEC; Prof Ayo Olowe, the Conference Chair and Head, Department of Finance, UNILAG, amongst other.
Business Post gathered that not less than 500 delegates, 139 speakers drawn from several countries are expected at the conference, which is the first to be co-organised by both parties.
It was further gathered that the speakers would address participants on Capital Market, Innovation, Regulation and Economic Development: Past, Present and Future; Stock Market, Governance, Technology and Business Models: Emerging Trends; Financial Literacy, Digital Finance, Inclusion and the Democratization of Wealth in Africa; Frontiers of Trading in Fixed Income Products and Derivatives in Africa; and Commodity Exchange and Development of ecosystem for agricultural trade, risk management and finance in Africa.
Others are Stock Market Innovativeness for SME Financing in Africa; Stock Markets, Fund Managers and Stockbroking: Rebuilding Investors’ Trust; Securities Clearing, Settlement and Depository in Africa: Issues and Innovations; and Infrastructure Finance and the Capital Market: Role of Multilateral DFIs.
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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