Shareholders of NASD Plc have commended the company’s Board and Management for their outstanding performance, which reversed years of losses and led to the first-ever payment of a cash dividend of 20 kobo per share and bonus issue of one new ordinary share for every five shares held as of July 29, 2025.
Despite a challenging operating environment in 2024, NASD recorded a remarkable turnaround from its 2023 performance. This strong showing has positioned the company not only to pay a dividend for the first time, but also to issue a bonus for the second time since its inception.
During the financial year, fee and Commission Income rose sharply by 264.28 percent year-on-year to N1.07 billion, up from N295.36 million in 2023. Interest Income also grew by 43.76 percent, reaching N61.43 million, compared to N42.73 million in 2023.
The NASD Securities Index posted a 21.53 percent year-to-date gain, closing at 3,649.1 points on August 25, 2025, up from 3,002.68 points at year-end 2024. Additionally, the NASD Pension Index surged by 64.44 percent, rising from 954.33 to 1,569.3 points, reflecting growing investor confidence and heightened trading activity on the Exchange.
During the company’s recent Annual General Meeting, shareholders expressed widespread appreciation for the achievements of the outgoing Chairman, Kayode Falowo, and the leadership team. In a display of camaraderie, shareholders sang a family song in his honor and praised his exemplary stewardship.
“The shareholders are pleased with the Board, Management and Staff of NASD Plc. They have demonstrated exceptional leadership in turning the company around. This success is a hallmark of efficiency and innovation.”
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“We urge NASD to sustain this performance by investing heavily in cybersecurity, adopting artificial intelligence (AI), expanding business development efforts, and attracting more listings to deepen market liquidity,” said Eke Emmanuel, General Secretary of the Independent Shareholders Association of Nigeria (ISAN).
In his his farewell remarks Falowo expressed gratitude to the Board, Management, and stakeholders for their support. He voiced confidence in the incoming Chairman, Olayimikah Bolo and the new Board, highlighting their capacity to sustain and even improve on current achievements.
“From inception, NASD has maintained the highest standards of corporate governance,” said Falowo. He added that: “I am proud that we’re now paying a cash dividend for the first time and declaring bonus shares for the second time. Our performance over the last two years shows consistent growth across all key metrics—trading income, profitability, and innovation. I’m confident NASD will continue to thrive under the new leadership.”
Eguarekhide Longe, Managing Director and CEO, NASD emphasised the company’s potential for further growth.“Our turnaround clearly demonstrates our capacity for sustainable growth. We are actively 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, which includes: The Over-the-Counter (OTC) Market, Digital Securities Platform, Venture Ramp, NASDeP Enterprise Portal and NASD Commercial Paper Platform.
“We are uncovering immense potential in the Nigerian economy. Our platforms are designed to help companies leverage these opportunities, which enhances NASD’s competitiveness not just locally but in global capital markets,” Longe concluded.
