Economy
University Press Stock Records Highest Weekly Growth on NSE
By Modupe Gbadeyanka
Shares of University Press Plc performed well at the Nigerian Stock Exchange (NSE) last week, growing by 31.45 per cent or 39 kobo to close at N1.63 per share in the five-day trading week.
The sudden demand for the stock pushed the equity price higher in the week. This was also the cash of FTN Cocoa Processors Plc, which recorded a 20.00 per cent growth to finish at 24 kobo per share.
Champion Breweries appreciated in the week by 19.23 per cent to finish at 93 kobo per share, NEM Insurance gained 14.97 per cent to end at N2.15 per share, while PZ Cussons grew by 9.09 per cent to close at N4.20 per share.
But on the flip side, Beta Glass was the worst-performing stock in the week, depreciating by 9.99 per cent to close at N55.40 per share, while Arbico lost 9.52 per cent to end at N1.14 per share.
C&I Leasing declined by 9.09 per cent to close at N4.00 per share, Consolidated Hallmark Insurance declined by 8.11 per cent to finish at 34 kobo per share, while Cutix depreciated by 7.89 per cent to end at N1.75 per share.
Business Post reports that in all, a total 29 equities appreciated in price during the week, lower than 31 equities in the previous week, while 36 equities depreciated in price, higher than 27 equities in the previous week, with 98 equities closing flat, lower than 105 equities recorded in the previous week.
In the week, the All-Share Index (ASI) and the market capitalisation both appreciated by 0.35 per cent to close at 25,309.37 points and N13.203 trillion respectively.
Data from the exchange revealed that all other indices finished higher with the exception of NSE Premium, NSE Banking, NSE AFR Div Yield and NSE MERI Value indices which depreciated by 0.45 per cent, 0.23 per cent, 0.77 per cent and 0.9 per cent while the NSE ASeM closed flat.
On the activity chart, a total of 1.1 billion shares worth N7.4 billion in 16,684 deals were traded in the week by investors in contrast to a total of 950.4 million shares valued at N10.1 billion that exchanged hands a week earlier in 16,647 deals.
A breakdown showed that the financial services industry led the activity chart with 586.8 million shares valued at N4.0 billion traded in 8,483 deals, contributing 54.76 per cent and 54.47 per cent to the total equity turnover volume and value respectively.
The conglomerates sector followed with 307.7 million shares worth N799.2 million in 1,010 deals, while the third place was occupied by the consumer goods industry, with a turnover of 50.2 million shares worth N968.3 million in 3,018 deals.
Trading in Transcorp, UAC Nigeria and UBA accounted for 396.3 million shares worth N1.4 billion in 1,845 deals, contributing 36.99 per cent and 18.59 per cent to the total equity turnover volume and value respectively.
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.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
