Nigeria: Value of Transactions On NASD OTC Hits N2 Billion

16 December 2014

The value of trading on the NASD OTC market last week hit N2 billion, three months after it hit N2 billion. The NASD OTC is licensed platform for the trading of unlisted securities. Prior to 2013, holders of securities of public companies not listed on the Nigerian Stock Exchange (NSE) found it difficult to trade those securities. However, the commencement of trading by NASD Plc in July 1, 2013 put an end to that difficulty. One year after it stated operations, the NASD OTC facilitated the exchange of unlisted securities valued at N648 million. That value grew to N2 billion last September and rose further to hit N2 billion last Friday.

According to NASD Plc, the N2 billion mark is a cumulative effect of and increasing preference investors have for transparency and participating institutions(PIs) recognition of the liquidity the market affords.

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