Shareholders of NASD Plc have applauded the company’s Board and Management for a turnaround that reversed years of losses, leading to the first-ever payment of a cash dividend of 20 kobo per share and a bonus issue of one new ordinary share for every five shares held as of July 29, 2025.
In a statement made available to our correspondent on Wednesday, despite a challenging operating environment in 2024, NASD posted results, positioning the company to declare a dividend for the first time and issue a bonus for the second time since its inception.
According to the statement, Fee and Commission Income surged 264.28 per cent year-on-year to N1.07bn, up from N295.36m in 2023, while interest income rose 43.76 per cent to N61.43m from N42.73m.
The NASD Securities Index closed at 3,649.1 points on August 25, 2025, reflecting a year-to-date gain of 21.53 per cent, up from 3,002.68 points at the end of 2024. The NASD Pension Index recorded a remarkable 64.44 per cent increase, rising from 954.33 to 1,569.3 points, signalling growing investor confidence and heightened trading activity on the Exchange.
At the company’s Annual General Meeting, shareholders praised outgoing Chairman Kayode Falowo for his leadership.
“The shareholders are pleased with the board, management and staff of NASD Plc. Their exceptional leadership has driven this turnaround, showcasing efficiency and innovation,” said Eke Emmanuel, General Secretary of the Independent Shareholders Association of Nigeria.
Emmanuel further urged NASD to sustain this performance by investing in cybersecurity, adopting artificial intelligence, expanding business development, and attracting more listings to deepen market liquidity.
In his farewell remarks, Falowo expressed gratitude to stakeholders and voiced confidence in incoming Chairman Olayimikah Bolo and the new Board, highlighting their capacity to sustain and improve on current achievements.
Managing Director and Chief Executive Officer Eguarekhide Longe emphasised the company’s potential for further growth, stating, “Our turnaround demonstrates our capacity for sustainable growth. We are engaging listed companies to make their shares available for trading while prospecting new issuers to increase market liquidity. NASD operates through five integrated platforms and will continue to deepen its ‘One Company, Five Platforms’ strategy, including the Over-the-Counter Market, Digital Securities Platform, Venture Ramp, NASDeP Enterprise Portal, and NASD Commercial Paper Platform.”
He added, “Our platforms help companies leverage opportunities in the Nigerian economy, enhancing NASD’s competitiveness both locally and in global capital markets.”
