Economy
T-Bills Rates Shrink Investment in Nigerian Shares by 49.7% in One Week
By Dipo Olowookere
Nigerian stocks witnessed a decline of 49.7 per cent or N47.291 billion last week as the Central Bank of Nigeria (CBN) raised the stop rates of treasury bills to 19 per cent.
Data obtained by Business Post from the Nigerian Exchange (NGX) Limited showed that in the period under review, investors only transacted 2.478 billion shares worth N47.856 billion in 54,982 deals versus the 3.893 billion shares valued at N95.147 billion transacted in 69,117 deals in the preceding week.
Analysis revealed that FBN Holdings, Transcorp, and Jaiz Bank accounted for 732.804 million equities sold for N13.705 billion in 7,040 deals, contributing 29.57 per cent and 28.64 per cent to the total trading volume and value, respectively.
Financial stocks topped the activity chart with 1.687 billion units worth N28.514 billion in 25,751 deals, contributing 68.10 per cent and 59.58 per cent to the total trading volume and value apiece.
Conglomerates shares trailed with 210.272 million units worth N2.988 billion in 4,419 deals, and energy equities traded 203.777 million units worth N2.139 billion in 4,544 deals.
In the week, Meyer topped the gainers’ chart after gaining 60.70 per cent to finish at N6.91, Juli appreciated by 44.29 per cent to N1.01, Geregu Power expanded by 19.00 per cent to N675.90, Cornerstone Insurance rose by 17.37 per cent to N2.23, and May & Baker grew by 11.75 per cent to N7.04.
Conversely, Eterna lost 18.78 per cent to trade at N17.95, Abbey Mortgage Bank fell by 18.39 per cent to N2.44, Unity Bank tripped by 17.79 per cent to N2.31, Mutual Benefits slipped by 17.57 per cent to 61 Kobo, and Sterling Holdings dropped 15.45 per cent to N5.58.
When trading activities ended for the week last Friday, 20 stocks appreciated versus 27 stocks of the previous week, 68 equities depreciated versus 64 equities of the preceding week, and 66 shares closed flat versus 64 shares of the earlier week.
Profit-taking activities dominated the week, bringing down the All-Share Index (ASI) by 2.45 per cent to 101,858.37 points and the market capitalisation by 2.49 per cent to N55.735 trillion.
Apart from the ASeM index, which gained 4.63 per cent in the week, all other indices finished lower.
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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