Shareholders of NASD Plc have commended the company’s board and management for steering it out of years of losses to profitability, leading to its first-ever cash dividend payout. At the 2025 Annual General Meeting, held in Lagos, shareholders approved 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.
The company said this achievement came despite the tough operating environment in 2024. For the first time in its history, NASD was able to declare a dividend and sustain its strategy of rewarding investors with a second bonus issue.
Financial results released showed Fee and Commission Income surged by 264.28 per cent year-on-year, rising to ₦1.07 billion from ₦295.36 million in 2023. Interest income also climbed 43.76 per cent to ₦61.43 million, compared to ₦42.73 million the previous year.
Market indicators also reflected NASD’s strong performance. The NASD Securities Index closed at 3,649.1 points on August 25, 2025, 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, climbing from 954.33 to 1,569.3 points. Analysts say the growth signals rising investor confidence and stronger trading activity on the exchange.
At the meeting, shareholders praised the outgoing chairman, Kayode Falowo, for providing the leadership that helped turn the company around. General Secretary of the Independent Shareholders Association of Nigeria, Mr. Eke Emmanuel, said the company’s performance was a sign of efficiency and innovation. He called on the new leadership to continue investing in cybersecurity, artificial intelligence, business expansion, and attracting new listings to boost liquidity in the market.
In his farewell address, Falowo thanked stakeholders for their support and expressed confidence in the incoming chairman, Mrs. Olayimikah Bolo, and the new board. He said the new leadership had the capacity to build on the achievements recorded so far.
Managing Director and Chief Executive Officer of NASD Plc, Mr. Eguarekhide Longe, said the company’s turnaround showed it was on a path of sustainable growth. He explained that the company was engaging listed companies to make more of their shares available for trading, while also reaching out to new issuers to improve liquidity.
He further highlighted the company’s integrated business model, tagged “One Company, Five Platforms”, which includes the Over-the-Counter Market, Digital Securities Platform, Venture Ramp, NASDeP Enterprise Portal, and the NASD Commercial Paper Platform. According to him, these platforms would help companies take advantage of opportunities in the Nigerian economy and strengthen NASD’s role in both local and global capital markets.
Shareholders left the meeting optimistic that the company’s new leadership would sustain its growth and continue creating value for investors.
