NASD OTC to Lunch New Products, Unlock Investment in Critical Sectors

Kayode Tokede

NASD OTC Exchange Plc said it is warming up to unveil some innovative products and unlock investment opportunities in the real estate and co-operative societies in a strategic move to deepen its activities in the Nigerian financial market.

 Although details of the concept, structure and benefits of the new products are kept under wraps, NASD’s Managing Director and Chief Executive Officer, Eguarekhide Longe said the leading OTC Exchange was awaiting regulatory approvals to make public the initiatives.

“NASD is focused on origination. To this extent we are driven by the need to be extremely innovative and propelled to drive inclusion of new business area We are going to conclude the delivery of a few novel products which we have applied to the Securities and Exchange Commission (SEC) for approval. These products will help to unlock value in untapped areas of the Nigerian financial services sector and will broaden the Nigerian Capital market. As a hint, these products will touch upon the Real Estate and the much-untapped Nigerian Cooperative Societies. We see 2025 closing with a strong performance, if not stronger than 2024,” says Longe.

In an interactive session with some financial journalists in Lagos, he stated that despite the inclement operating environment in 2024, the Exchange demonstrated resilience and recorded significant growth.

According to him, the NASD Securities Index (NSI), increased by 223.75per cent y/y, rising to 3,002.68 basis points in December 2024, from 927.77 basis points in December 2023.