Economy
Tranex Appoints Ejike Okoli As Director

By Modupe Gbadeyanka
Mr Ejike Okoli has been appointed as a non-executive director of Trans-Nationwide Express Plc. This followed the approval of his appointment by the Board of Directors of the company.
Mr Okoli is the Vice President Special Projects and Administration for the Hudson Consulting Group, a business strategic management consulting firm.
He is responsible for strategy development and implementation of client solutions. During his tenure, the Hudson Group expanded its global operations revenue by 50 percent.
He was head of Corporate Services and Administration at Transnational Corporation of Nigeria.
Prior to coming to Nigeria, Mr Okoli was the Country Finance Offset Manager for the Turkey F-16 Fighter Jet Program for Lockheed Martin Aeronautics Company in Turkey and later in Greece.
He was responsible for developing financial investment offset programs to enable the sale of the military aircraft and weaponry to these countries. He led negotiations with both the public and private sectors to achieve the company to offset investment obligations.
Before this assignment, Mr Okoli was the Industrial Participation Manager for the F-35 (Joint Strike Fighter Program – $350 Billion U.S. Government Military Program).
He led the outsourcing of component manufacturing and technology work streams trough International Industrial Cooperation initiatives with European countries. He participated in the overall development and implementation of Industrial Participation projects on the F-35 program which led to an award of the AERO Star (highest Lockheed Martin award to employees with exceptional accomplishments).
At Lockheed Martin, the largest Defense Contractor in the world, Mr Okoli was instrumental in developing and implementing Industrial Joint Ventures and Co-Production strategies that resulted in cost savings for the company.
During his tenure, the $400 Billon program was completely sold to eight partner countries that were satisfied with the industrial cooperation progress.
Mr Okoli also held various positions of increasing responsibilities at Lockheed Martin Material Management where he led an inventory and logistics cost reduction that resulted in over $150 million cost savings.
He was selected to participate in the EDGE and Finance Executive Management Level Leadership Development program at Lockheed Martin. These programs are used to develop and retain high potential Executives of the company.
Before joining Lockheed Martin Aeronautics Company, Mr Okoli was the Chief Operating Officer for Exponent Exports, a division of Emerging Capital Group where he directly oversaw operations. His vision and leadership led to a 100% increase in revenue and a 45% reduction in non-recurring costs.
Prior to working for Exponent Exports, Mr Okoli held various levels of increasing responsibilities at Ford Motor Company in Dearborn, Michigan. He held positions in Supply Chain Management, Operations and Business Strategy. He received an award and recognition for implementing innovative value-chain cost saving solutions.
Before working for Ford Motor Company, Mr Okoli had worked with First USA Bank (now JP Morgan Chase) in credit analysis and marketing. He rose through the ranks to become a Deputy Manager before leaving to obtain an MBA.
Mr Okoli’s professional background spans over 21 years and includes positions in the Financial Services, Automotive, Consumer Products and Defence/Aeronautic industries. He attended the University of Texas (Austin) and the University of Pittsburgh. He has an MBA in Finance.
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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