By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange decreased by 1.16 per cent in the 18th trading week of 2026, with the Unlisted Securities Index down by 46.81 points to 4,005.78 points from the preceding week’s 4.052.58 points.

In the same vein, the market capitalisation went down by N28.01 billion in the four-day trading week to N2.396 trillion from the N2.424 trillion it ended a week earlier.

Last week, the total volume of transactions slumped by 87.7 per cent to 2.8 million units from 22.8 million units, just as the total value of trades declined by 32.3 per cent to N86.5 million from the previous week’s N127.7 million. The transactions were executed in the week in 140 deals across 16 stocks.

The most traded stock by value was Central Securities Clearing System (CSCS) Plc with N39.5 million, followed by Friesland Campina Wamco Plc with N37.2 million, Geo-Fluids Plc at N4.8 million, MRS Oil Plc at N1.9 million, and NASD Plc at N1.2 million.

In terms of volume, Geo-Fluids Plc led the activity chart with 1.63 million units, trailed by CSCS Plc with 0.524 million units, Friesland Campina Wamco Nigeria Plc traded 0.385 million units, Food Concepts Plc quoted 0.157 million units, and NASD Plc exchanged 0.036 million units.

Last week, there were six price decliners and two price advancers, led by Nitrox Industrial Gases Plc, which gained N2.43 to sell at N27 per unit versus the previous week’s N24.57 per unit, and UBN Property Plc, which grew by 20 Kobo to N2.23 per share versus N2.03 per share.

Conversely, MRS Oil Plc lost N17.65 to trade at N178.10 per unit versus N195.75 per unit, Friesland Campina Wamco Nigeria Plc slipped by N9.31 to N90.24 per share from N99.55 per share, NASD Plc dipped by N3.80 to N34.70 per unit from N38.50 per unit, Lagos Building Investment Company (LBIC) Plc went down by 53 Kobo to N3.47 per share from N4.00 per share, CSCS Plc declined by 24 Kobo to N76.02 per unit from N76.26 per unit, and Food Concepts Plc slid by 3 Kobo to N2.67 per share from N2.7- per share.

By Aduragbemi Omiyale

Coinage Fund Management Limited has been permitted to operate as a fund or portfolio manager in Nigeria.

The operating licence was handed over to the Africa-focused investment management firm by the Securities and Exchange Commission (SEC) after meeting the requirements.

This not only reinforces Coinage Fund’s credibility but also signals its readiness to partner with individuals and institutions seeking structured pathways to wealth creation in an increasingly complex financial landscape.

With this regulatory green light, Coinage Fund is now fully licensed to deliver tailored investment and portfolio management solutions to a broad spectrum of clients, including high-net-worth individuals, mass affluent investors, emerging investors, institutions, and corporate organisations.

A statement from the firm said this milestone marks a significant step in its mission to democratise access to professional wealth management and reshape the future of investment advisory across Nigeria and the broader African market.

At the core of Coinage Fund’s proposition is a forward-looking investment philosophy that blends disciplined asset management, technology-enabled insights, and a deep commitment to client outcomes.

The organisation enters the market at a time when the need for structured, professional investment management has never been more critical. Across Nigeria, a significant portion of individual and institutional capital remains underutilised or inefficiently allocated—often due to limited access to credible expertise and trusted advisory platforms.

“Too many individuals and businesses leave capital idle or poorly managed due to limited access to the right expertise. We are here to change that,” the chairman of the company’s board, Mr Victor Gbenga Afolabi, commented.

The chief executive, Mr Biodun Oke, described the approval as both a validation of the firm’s strategic direction and a launchpad for its long-term ambitions.

“At Coinage Fund Management Ltd, we are building Nigeria’s next generation of wealth and retirement future. We are committed to helping our clients achieve financial security, retirement readiness and sustainable wealth creation through ethical management practices, informed decision-making and a long-term investment philosophy.”

Coinage Fund distinguishes itself through a combination of robust governance structures, strict regulatory compliance, and a client-first operating model. Backed by a team with over 50 years of combined industry experience, the firm leverages intelligent, technology-driven investment strategies to deliver consistent, risk-adjusted returns.

Beyond portfolio performance, the company is also advancing a broader agenda—building a financially literate and empowered investor base. Through continuous investor education, thought leadership, and advisory services, Coinage Fund aims to cultivate a new generation of “financially fit” individuals equipped to achieve long-term financial independence.

By Adedapo Adesanya

The Organisation of the Petroleum Exporting Countries and allies (OPEC+) agreed to another modest oil output hike for June, which will remain largely on paper as long as the war in Iran continues to disrupt Gulf oil supplies through the Strait of Hormuz.

Seven OPEC+ countries will raise oil output targets by 188,000 barrels per day in June, the third consecutive ​monthly increase, OPEC+ said in a statement after an online meeting on Sunday.

The increase is the same as that agreed ​for May, minus the share of the United Arab Emirates (UAE), which exited the alliance on May 1 to focus on its energy future.

The seven members who met on Sunday were Saudi Arabia, Iraq, Kuwait, Algeria, Kazakhstan, Russia, and Oman. With the UAE leaving, OPEC+ includes 21 members, including Iran and Russia. However, in recent years, only the seven nations plus the UAE have been involved in monthly production decisions.

The ⁠move is designed to show the group is ready to raise supplies once the war stops.

The Iran war, which began on February 28, and the resulting closure of the ​Hormuz Strait have throttled exports from ​OPEC+ members Saudi Arabia, ⁠Iraq and Kuwait, as well as from the UAE. Before the conflict, these producers were the only countries in the group able to raise production.

Top OPEC+ producer Saudi Arabia’s quota will rise ​to 10.291 million barrels per day in June under the agreement, far above actual production. The kingdom reported actual production of 7.76 million barrels per day to ‌OPEC in ⁠March.

Market analysts noted that even when shipping through the Strait of Hormuz ​reopens, it will take several weeks or months for flows to normalise.

In the meantime, the supply disruption has propelled oil prices to a four-year high above $125 per barrel.

Crude oil output from all OPEC+ members ⁠averaged 35.06 ​million barrels per day in March, down 7.70 million barrels per day from February, OPEC said in ​a report last month, with Iraq and Saudi Arabia making the biggest cuts due to constrained exports.

The seven OPEC+ members will meet again on June 7.