Economy
Value of NASD OTC Exchange Rises to N655.45bn in Week 28
By Adedapo Adesanya
The total value of the NASD Over-the-Counter (OTC) Securities Exchange surged N655.45 billion in Week 28 of the year from N529.12 billion in Week 27.
In the week, the market capitalisation of the NASD OTC Exchange actually rose by N6.16 billion but the inclusion of the Nigerian Exchange Group Plc, 11 Plc and Capital Bancorp Plc on Wednesday, July 14, 2021, with N120.17 billion caused the significant surge.
Also, the NASD OTC Security Exchange Index (NSI) increased by 1.3 per cent or 9.72 points to close the week at 754.11 points as against 744.39 points of the preceding week.
Business Post reports seven securities appreciated in price during the week with Newrest ASL Nigeria Plc rising by 10.00 per cent to settle at N11.00 per share compared with the previous N10.00 per share.
Afriland Properties Plc gained 8.00 per cent to finish at N1.35 per unit versus the previous N1.25 per unit, Central Securities and Clearing System (CSCS) Plc rose by 7.10 per cent to end at N18.20 per share in contrast to N16.99 per share it closed a week earlier, while 11 Plc appreciated by 6.9 per cent to trade at N230.00 per unit compared with N215.00 per unit of the earlier week.
Also, Food Concepts Plc improved by 5.0 per cent to sell for 84 kobo per share as against the preceding week’s 80 kobo per share, VFD Group Plc gained 2.4 per cent to trade at N361.82 per unit compared with the previous week’s rate of N353.31 per unit, while Friesland Campina WAMCO Nigeria Plc went up by 0.5 per cent to N120.63 per share in contrast to N120 per share of the previous week.
In the week, the market witnessed three price decliners led by UBN Property Plc, which lost 6.8 per cent to sell for N1.10 per unit compared with the previous N1.18.
Niger Delta Exploration & Production Plc (NDEP) Plc went down by 3.6 per cent to N270.50 per share from N280.50 per share, while NGX Group declined by 3.2 per cent to N17.48 per unit from N18.06 per share.
Last week, there was a 46.2 per cent increase in the total volume of shares traded by investors as 28.7 million stocks exchanged hands compared with the previous week’s 19.6 million stocks.
In the same vein, the value of stocks increased by 246.4 per cent to N1.5 billion from N439.7 million, while the number of deals rose by 2.9 per cent to 175 trades from 170 deals.
At the close of the week, NGX Group was the most traded security by volume with 23.3 million units. VFD Group Plc traded 2.9 million units, UBN Property Plc exchanged 1,6 million units, Friesland Plc transacted 501,862 units, while CSCS Plc traded 149,850 units.
In terms of the value, VFD Group Plc topped with N1.0 billion, NGX Group traded N407.1 million, Friesland Plc recorded N60.3 million, NDEP Plc posted N6.6 million, while CSCS Plc expended N2.8 million.
In the year so far, NSI’s year-to-date gain stood at 1.7 per cent, with investors trading 1,518,525,762 units worth N11.9 billion in 3,077 deals.
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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