NASD says key initiatives will integrate OTC Exchange to capital market, economy

…records trade worth N50bn in 36 weeks

NASD Plc said has embarked on implementation of a number of key initiatives to strengthen its operations, diversify revenue sources, boost profitability and deliver value to shareholders.

The premier OTC Exchange in Nigeria has traded N50billion by week 36 this year as against N37. 57billion traded in the entire period of 2023. Its Enterprise Portal platform (NASDeP), worth over N2bn has commenced operations on a gradual basis.

According to a statement signed by Eguarekhide Longe, Managing Director and Chief Executive Officer, NASD Plc, the Exchange said it is focusing on promoting high growth (medium-large) companies on the NASD.

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“Enterprise Portal (NASDeP), the NASD Digital Securities Platform (N-DSP), which is being implemented under the SEC Regulatory Incubation program, promotes Security Token Offerings (STOs) largely instrumental and evolving in financing real estate development in a novel way . It also has in its portfolio, VentureRamp – the Donor Crowdfunding platform, which is a structured and effective channel for scaling endowments for communities and groups such as alumni associations wanting to have a trusted medium that delivers social responsibility projects (SRPs). With this trajectory, the Exchange is optimistic to close the year with a profit and aspires to pay a dividend for the year.

“NASD has strong potentials to weather the on-going tough operating environment. The Board and Management shall continue to explore more opportunities to upscale its operations. It is common knowledge that every securities market is a reflection of the economy.

“The Company has secured approval of the Securities and Exchange Commission (SEC) to hold its 11th Annual General Meeting (AGM) on Thursday, September 24 in Lagos.

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NASD is a Securities & Exchange Commission (SEC) licensed Securities Exchange. A Securities Exchange is a public trust that requires discipline and decorum to operate. This is very central to the conduct of everyone that functions at NASD Plc.