Shareholders Applaud NASD’s Return To Profitability, Approve 20kobo Dividend

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.

Despite a challenging operating environment in 2024, NASD recorded a remarkable turnaround from its 2023 performance. This strong showing has positioned the company to pay a dividend for the first time and issue a bonus for the second time since its inception.

During the financial year, fee and commission income rose sharply by 264.28 per cent year-on-year to N1.07 billion, up from N295.36 million in 2023. Interest Income also grew by 43.76 per cent, reaching N61.43 million, compared to N42.73 million in 2023.

The NASD Securities index posted a 21.53 per cent 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 per cent, 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.

The general secretary of the Independent Shareholders Association of Nigeria (ISAN), Eke Emmanuel, stated that “the shareholders are pleased with the Board, Management and Staff of NASD. They have demonstrated exceptional leadership skills and have turned the company around. This success is a hallmark of efficiency and innovation.”

“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.”

The outgoing chairman, Kayode Falowo, expressed gratitude to the Board, Management, and stakeholders for their support, voicing confidence in the incoming chairman, Olayimikah Bolo and the new Board to sustain and improve current achievements.

“From inception, NASD has maintained the highest standards of corporate governance, and I am proud that we are 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,” said Falowo.

NASD’s managing director and CEO, Eguarekhide Longe, emphasised the company’s potential for further growth, saying that “our turnaround clearly demonstrates our capacity for sustainable development.

“We are actively engaging listed companies to make their shares available for trading while prospecting new issuers to increase market liquidity.”

“We are uncovering immense potential in the Nigerian economy. Our platforms are designed to help companies leverage these opportunities, enhancing NASD’s competitiveness locally and in global capital markets,” Longe stated.