Nigeria’s Over-The-Counter (OTC) securities exchange operator, NASD Plc, has reported a profit after tax of N212.5 million for the first quarter ended March 31, 2025, marking a strong comeback from a loss of N32.7 million in the same period of 2024.
This financial turnaround was disclosed by the Managing Director of NASD Plc, Eguarekhide Longe, during a press briefing held in Lagos on Thursday.
According to Longe, the company also posted an operating profit of N164 million for the quarter, compared to an operating loss of N44.1 million in Q1 2024. He attributed this impressive recovery to a surge in trading activity on the NASD OTC platform and the introduction of new financial products tailored to meet the funding needs of diverse sectors in the Nigerian economy.
“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,” Longe stated.
NASD Plc currently manages five trading platforms, including:
- The flagship OTC Securities Exchange
- The NASD Enterprise Portal for growth-stage companies
- A Commercial Paper Listing platform
- The NASD Digital Securities platform
- The NASD Real Estate Portal
These platforms are designed to support financing for sectors traditionally underserved by banks and conventional exchanges, such as real estate, cooperatives, and small and medium-sized enterprises (SMEs).
Over the past year, NASD has experienced significant growth. In 2024, the number of deals on the NASD OTC Exchange rose by 127.31% year-on-year, while the value of trades increased by 176.72%, underscoring a sharp increase in investor interest. In the same period, the NASD Securities Index climbed 223.75%, closing at 3,002.68 points in December 2024.
Longe noted that Q1 2025’s results continue the strong performance observed in 2024. He revealed that NASD is preparing to launch additional financial products, including digital securities, pending regulatory approval from the Securities and Exchange Commission (SEC).
“These upcoming products are designed to democratise access to the capital market and offer flexible funding solutions to segments of the economy that remain underserved,” he explained.
A financial analyst from a leading investment firm in Lagos commented that NASD’s improving performance signals a maturing OTC market with growing investor confidence and liquidity. “This bodes well for the overall development of Nigeria’s capital market and the economy at large,” the analyst added.
Meanwhile, NASD Plc has reiterated its call for public limited companies (PLCs) to comply with SEC regulations requiring that securities of unlisted PLCs be traded exclusively on SEC-registered OTC platforms like NASD.
With its growing influence in Nigeria’s capital markets, NASD is positioning itself as a vital alternative to the Nigerian Exchange for companies seeking flexible and technology-driven capital market solutions.
