How NASD Drives Capital Market Innovation, Inclusion in Financial Ecosystem
In an effort to create a strong financial ecosystem, the NASD Over-the-Counter (OTC) Securities Exchange has emerged as a resilient and visionary platform.
Under the leadership of Chief Executive Officer Eguarekhide Longe, NASD has demonstrated unwavering commitment to deepening Nigeria’s capital market, innovating around underserved sectors, and repositioning itself as a catalyst for national economic development.
Despite a tumultuous economic landscape in 2024—characterised by inflationary pressures, market uncertainties, and capital flight—the NASD Exchange posted an impressive performance.
The NASD Securities Index (NSI) surged by a remarkable 223.75% year-on-year, climbing from 927.77 points in December 2023 to 3,002.68 points by December 2024.
This feat underscores the platform’s ability to attract investor interest and sustain capital market vibrancy, even in challenging times.
While market capitalisation saw a decline of 18.12% year-on-year, reflecting the delisting of some high-value stocks such as Aradel Holdings Plc., the exchange experienced a 127.31% increase in trading activities and a 176.72% surge in the value of trades.
Notably, Aradel accounted for approximately 79% of total trading activity, signifying its critical role in previous market dynamics. However, Longe is not one to focus solely on past performance.
Instead, he is focused on the future—a future where NASD becomes a central hub for real economic activity, inclusive investment participation, and the incubation of startups. “Our market is an incubator for start-ups,” he said.
“This explains why despite the delisting of some large capitalisation stocks like Aradel, we started on a strong note this year.”
Indeed, NASD’s Q1 2025 results signal robust operational recovery. The exchange reported an operating profit of N164.0 million, a significant turnaround from the N44.1 million loss in Q1 2024.
The unaudited profit stood at N212.5 million, compared to a N32.7 million loss recorded in the same period last year. These figures reflect improved operational efficiency, increasing investor confidence, and a proactive strategic vision.
One of NASD’s recent strategic milestones was the successful listing of the Infrastructure Credit Guarantee Company Plc.—a move that aligns with its broader mission to integrate the capital market with real sector imperatives.
“This listing is a testament to NASD’s orientation to build its business around creating linkages within the economy that will deepen and broaden value,” said Longe.
Looking ahead, NASD is poised to launch innovative financial products targeting Nigeria’s real estate sector and cooperative societies.
These initiatives, currently under review by the Securities and Exchange Commission (SEC), represent a deliberate push into traditionally undercapitalised segments of the economy.
By unlocking access to these sectors, NASD aims to expand the investor base and offer tailored instruments that resonate with everyday economic actors.
“Our mission is to build—not just a market, but a robust ecosystem that supports economic development,” Longe emphasised. “Economic development is about building things—whether it be brick and mortar infrastructure, agriculture processing zones, steel and foundries, logistics, or the social sectors like education and healthcare. These are the pillars upon which we intend to expand our market offerings.”
A cornerstone of this transformation is NASD’s alignment with broader regulatory and policy initiatives. The Central Bank of Nigeria’s Non-Resident Bank Verification Number (NRBVN) initiative presents an opportunity to create a borderless capital market—one that facilitates diaspora participation and ensures a seamless connection between Nigeria’s real economy and its capital markets.
NASD is strategically positioning itself as the conduit for this new wave of investment, promoting transparency, innovation, and access.
Beyond numbers, NASD’s transformation under Eguarekhide Longe’s leadership reflects a deeper philosophical pivot: from a passive trading platform to an active economic development agent.
It is about shifting from a transactional capital market to a transformative one—where capital mobilisation meets nation-building, and where startups, cooperatives, and infrastructural ventures find both funding and a future.
As Q2 2025 unfolds, with a buoyant April already in the books, the NASD Exchange remains on a positive trajectory. The focus is clear: deepen inclusivity, diversify product offerings, and forge sustainable links between Nigeria’s productive sectors and its capital markets.
In the words of its CEO, “We are mindful that Nigeria requires a new tribe of investors—visionary, risk-aware, and socially grounded. At NASD, we are building that future. #How NASD Drives Capital Market Innovation, Inclusion in Financial Ecosystem#
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