Home Business News NASD OTC witnessed 106% increase in transaction in 2018

NASD OTC witnessed 106% increase in transaction in 2018

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NASD (National Association of Securities Dealers) OTC Plc has evaluated the total amount of transactions performed within the company in 2018 to be about N25 billion. This is a 106.6% increase over the 12.1 billion transaction value in 2017.

While addressing market participants at the NASD Breakfast Meeting in Lagos at the weekend, the Managing Director/Chief Executive Officer of NASD Plc, Bola Ajomale said trading activities on the platform had increased tremendously during the period.

In his words, he said, in the last three years, the platform recorded huge capital coming into the country in form of long-term investments, rather than trading capital, and as a result the company decided to launch an enterprise portal – the NASD Enterprise Portal (NASDEP), to boost investment in small enterprises in Nigeria.

“In 2018, we launched three platforms, all of them fully indigenous, built by Nigerian enterprise, because we do have an industry that is growing.

“In addition, the three portals we have, one is a capital raise platform, which is the enterprise portal; the second is the trading platform, which allows brokers to trade from any part of the world at any time, using any devise. The third is creating an information portal where people can observe the market within a couple of minutes. Here you will be engaged with the market without logging into the market”.

This improvement came about ever since it decided to concentrate on being the hub for crowdfunding in Nigeria.

About NASD’s Enterprise Portal

Launched in April 2018, the NASD Enterprise Portal (NASDEP) is designed to address the information gap on start-ups and other growth enterprises and also provides a central database of private investment opportunities and investor pools.

The portal presents structured information on performance, operations and investment opportunities in growth and value enterprises to enable investors, especially private equities, make appropriate investment decisions.

According to Ajomale, the portal is a significant step in driving its vision to become the hub of capital formation in West Africa.

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