‘Key initiatives ‘ll integrate NASD to capital market and economy’

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9 months ago

NASD Plc, the premier Over-the-Counter (OTC) Exchange in Nigeria has said it has embarked on implementation of a number of key initiatives to strengthen its operations, diversify revenue sources, boost profitability and deliver value to shareholders.

With its Enterprise Portal platform (NASDeP), worth over N2 billion, commencing operations on a gradual basis, NASD has traded N50 billion by week 36 this year as against N37. 57 billion traded in the entire period of 2023.

According to a statement signed by its Managing Director and Chief Executive Officer, EguarekhideLonge, the Exchange is focusing on promoting high growth, that is medium to large companies on the NASD.

“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, 2024, at Colonades Hotel, Ikoyi Lagos, said Longe.

NASD is a Securities & Exchange Commission (SEC) licensed Securities Exchange.