The shareholders of NASD Plc, a Nigerian securities exchange, expressed overwhelming satisfaction with the company’s leadership for orchestrating a remarkable financial turnaround, culminating in the declaration of the company’s first-ever cash dividend and a bonus share issuance. This achievement marks a significant milestone for NASD, reversing years of losses and signaling a new era of profitability and growth. The 20 kobo per share cash dividend and the bonus issue of one new ordinary share for every five held, effective July 29, 2025, were met with resounding approval at the company’s Annual General Meeting. This positive development comes despite the challenging economic climate of 2024, underscoring the effectiveness of the strategic decisions and operational efficiency implemented by the board and management.
The resurgence of NASD’s financial performance is largely attributed to a significant boost in key revenue streams. Fee and commission income witnessed an impressive surge of 264.28%, reaching N1.07 billion in 2024, compared to N295.36 million in the preceding year. This substantial increase points to a growing volume of transactions and increased activity on the exchange. In addition, interest income also contributed to the positive financial outcome, rising by 43.76% to N61.43 million from N42.73 million in 2023. These positive financial indicators, coupled with effective cost management strategies, paved the way for the company’s return to profitability and its ability to reward shareholders.
The positive trajectory of NASD’s financial performance is further reflected in the robust performance of its indices. The NASD Securities Index, a key barometer of market sentiment, experienced a significant year-to-date gain of 21.53%, closing at 3,649.1 points on August 25, 2025, up from 3,002.68 points at the end of 2024. Even more impressive was the performance of the NASD Pension Index, which soared by an impressive 64.44%, reaching 1,569.3 points from 954.33 points. This remarkable growth indicates increasing investor confidence in the NASD platform and a surge in trading activity, particularly among pension fund administrators, who play a significant role in the Nigerian capital market.
The shareholders, represented by Eke Emmanuel, General Secretary of the Independent Shareholders Association of Nigeria, lauded the outgoing Chairman, Kayode Falowo, for his exemplary leadership in steering the company towards this remarkable turnaround. They acknowledged the collective efforts of the board, management, and staff, praising their efficiency and innovation in navigating the challenging economic environment and delivering impressive results. Looking ahead, the shareholders encouraged NASD to sustain this momentum by investing in key areas such as cybersecurity, artificial intelligence, and business development, while also prioritizing the attraction of new listings to further enhance market liquidity. These strategic investments are seen as crucial for maintaining the company’s competitive edge and ensuring long-term growth and profitability.
In his valedictory address, outgoing Chairman Kayode Falowo expressed his gratitude to all stakeholders for their unwavering support and confidence in the company’s vision. He also expressed strong confidence in the incoming Chairman, Olayimikah Bolo, and the newly constituted board, emphasizing their capability to build upon the current successes and propel the company to even greater heights. This smooth leadership transition underscores the company’s commitment to good corporate governance and its focus on sustainable growth and development.
Managing Director and CEO, Eguarekhide Longe, echoed the optimism surrounding NASD’s future, highlighting the company’s inherent potential for continued growth and expansion. He outlined NASD’s proactive strategy of engaging with listed companies to enhance trading activity and actively seeking new issuers to bolster market liquidity. Longe emphasized NASD’s “One Company, Five Platforms” strategy, which leverages the Over-the-Counter Market, Digital Securities Platform, Venture Ramp, NASDeP Enterprise Portal, and NASD Commercial Paper Platform to provide comprehensive financial solutions to businesses and investors. This multi-faceted approach aims to capitalize on the vast opportunities within the Nigerian economy and position NASD as a key player in both the local and global capital markets. Longe expressed confidence that these strategic initiatives will further solidify NASD’s position as a leading securities exchange and drive sustainable growth in the years to come.
