NASD Plc, the operator of Nigeria’s Over-The-Counter securities exchange, has posted a profit after tax of N212.5m.

This result marks a turnaround compared to a loss of N32.7m reported in the corresponding quarter of 2024.

The Managing Director of NASD Plc, Eguarekhide Longe, disclosed this during a press conference held in Lagos on Thursday.

According to Longe, NASD Plc recorded an operating profit of N164m for the quarter ended March 31, 2025, reversing a loss of N44.1m in the same period last year. This improvement was driven by increased trading activities on its OTC platform and the successful introduction of new financial products aimed at meeting the needs of various sectors of the Nigerian economy.

Longe highlighted the company’s focus on innovation and market expansion as key drivers behind the improved results.

“The first quarter of 2025 reflects the success of our strategy to leverage technology and product diversification to enhance market liquidity and provide alternative financing options for Nigeria’s growing businesses,” he said.

NASD Plc currently operates five trading platforms, including its flagship OTC Securities Exchange, the NASD Enterprise Portal for growth companies, the NASD Commercial Paper Listing platform, the NASD Digital Securities platform, and the NASD Real Estate Portal. These platforms collectively aim to bridge the financing gap faced by underserved sectors such as real estate, small and medium enterprises, and cooperative societies.

The company’s OTC market has recorded growth over recent years, with trading volume and value surging substantially.

In 2024, the number of deals on the NASD OTC Securities Exchange increased by 127.31 per cent year-on-year, while the value of trades rose by 176.72 per cent, signaling heightened investor interest and market activity.

Furthermore, the NASD Securities Index, which tracks the performance of the OTC market, appreciated by 223.75 per cent to close at 3,002.68 points in December 2024.

Longe noted that the company’s performance in the first quarter of the year is a continuation of the positive trend experienced in 2024.

“We expect to sustain this growth trajectory through the rest of the year, particularly as we prepare to roll out new product offerings pending regulatory approval from the Securities and Exchange Commission,” he added.

The forthcoming products, which include digital securities and other innovative investment vehicles, are designed to further democratise access to the capital market and provide flexible funding solutions to sectors traditionally underserved by banks and conventional exchanges.

“The steady increase in NASD’s profitability signals a maturing OTC market with growing investor confidence and liquidity,” said a financial analyst at a leading Nigerian investment firm. “This bodes well for the overall development of Nigeria’s capital market and the economy at large.”

The PUNCH reported that the NASD OTC Exchange has called on public limited companies to comply with the Securities and Exchange Commission rule mandating that securities of unlisted public companies be traded exclusively on SEC-registered Over-the-Counter exchanges.