NASD Plc Achieves Historic Milestone with Dividend Payout and Bonus Share Issue
Shareholders of NASD Plc have lauded the company’s Board and executive management for orchestrating a significant financial turnaround. This remarkable progress culminated in the company’s inaugural cash dividend payment of 20 kobo per share, alongside a bonus share issuance of one new ordinary share for every five held.
Overcoming Adversity: NASD’s Resilient Performance in 2024
Despite a tough economic landscape in 2024, NASD Plc reversed its previous years of losses, marking a pivotal shift from its 2023 results. This resurgence enabled the company not only to distribute dividends for the first time but also to declare a bonus share issue for the second occasion since its establishment.
Robust Financial Growth Indicators
Throughout the fiscal year, NASD experienced a dramatic surge in fee and commission income, which soared by 264.28% year-over-year to reach N1.07 billion, a substantial increase from N295.36 million in 2023. Interest income also saw a healthy rise of 43.76%, climbing to N61.43 million from N42.73 million the previous year.
Market Indices Reflect Investor Optimism
The NASD Securities Index demonstrated strong momentum, appreciating by 21.53% year-to-date to close at 3,649.1 points as of August 25, 2025, up from 3,002.68 points at the end of 2024. Even more striking was the NASD Pension Index, which surged by 64.44%, moving from 954.33 to 1,569.3 points. These gains underscore heightened investor confidence and increased trading volumes on the Exchange.
Shareholders Applaud Leadership and Strategic Vision
At the recent Annual General Meeting, shareholders expressed strong approval of the outgoing chairman, Kayode Falowo, and the leadership team’s accomplishments. Eke Emmanuel, General Secretary of the Independent Shareholders Association of Nigeria (ISAN), remarked, “The shareholders commend NASD’s Board, Management, and staff for their exemplary leadership and innovative approach that has revitalized the company. This turnaround is a testament to their dedication and strategic foresight.”
Future-Focused Recommendations for Sustained Growth
Emmanuel further urged NASD to maintain its upward trajectory by prioritizing investments in cybersecurity, integrating artificial intelligence (AI) technologies, expanding business development initiatives, and attracting additional listings to enhance market liquidity.
Outgoing Chairman Reflects on NASD’s Progress and Legacy
Kayode Falowo, the outgoing chairman, expressed heartfelt appreciation to the Board, Management, and stakeholders for their unwavering support. He conveyed optimism about the incoming chairman, Olayimikah Bolo, and the new Board’s ability to build on the company’s current momentum.
“Since NASD’s inception, we have upheld the highest standards of corporate governance. I take pride in the fact that we are now distributing cash dividends for the first time and issuing bonus shares for the second time,” Falowo stated. “Our consistent growth over the past two years across key performance indicators such as trading income, profitability, and innovation speaks volumes about our strategic direction.”
CEO Highlights NASD’s Expanding Market Potential
NASD’s Managing Director and CEO, Eguarekhide Longe, emphasized the company’s promising outlook, noting, “Our recent turnaround is a clear indicator of our ability to achieve sustainable growth. We are proactively engaging with listed companies to increase share availability for trading and are actively seeking new issuers to boost market liquidity.”
“The Nigerian economy holds vast untapped potential. Our platforms are strategically designed to empower companies to capitalize on these opportunities, thereby enhancing NASD’s competitiveness both domestically and on the global capital stage,” Longe added.
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