After a challenging 2024, NASD Plc has staged a solid turnaround in the second quarter of 2025, reporting a pre-tax profit of ₦129.3 million. This marks a significant improvement from the ₦29.7 million loss posted in the same quarter last year, underlining the growing investor interest in Nigeria’s over-the-counter (OTC) market for unlisted securities.
The performance in the second quarter boosted the company’s half-year results to a pre-tax profit of ₦341.8 million, reversing a ₦62.4 million loss recorded in the first six months of 2024. The turnaround is largely attributed to a sharp rise in fee and commission income, as well as strong growth in interest income.
Fees and commissions rose by an impressive 224.5% year-on-year, reaching ₦237.6 million in Q2. This upswing reflects heightened activity on NASD’s unlisted securities platform. According to market analysts, increased transactions involving companies like Okitipupa Oil, Air Liquide, and Geo-Fluids played a role. Additionally, new listings such as InfraCredit’s private placement and the ₦10 billion Jawa Pharmaceutical commercial paper programme contributed to the uptick.
Interest income also saw a dramatic increase, climbing from ₦9.8 million to ₦58.2 million during the quarter—a 491.5% year-on-year rise. For the half-year period, interest income reached ₦106.7 million, representing a growth of 449%.
Though operating expenses rose—particularly employee benefits and compensation, which jumped 49.6% to ₦87.7 million—NASD still managed to post an operating profit of ₦71 million in Q2 2025, compared to a ₦43.3 million loss in the corresponding period last year.
The company’s financial position also showed notable improvements. Total assets increased by 7.4% to ₦1.4 billion, while retained earnings grew to ₦526.6 million, a leap of nearly 185% year-on-year.
In a statement accompanying the earnings report, Managing Director and CEO Eguarekhide Longe reaffirmed NASD’s commitment to expanding its digital infrastructure and product offerings. He highlighted ongoing development of platforms such as the Enterprise Portal, VentureRamp, Digital Securities Platform, and Commercial Paper Platform—all designed to deepen market participation and support business funding needs.
Looking ahead, the company’s board is expected to propose a 20 kobo per share cash dividend and a 1-for-5 bonus share issue at its upcoming Annual General Meeting, reflecting a more confident outlook on the back of sustained earnings recovery.
Key Financial Highlights – Q2 2025 vs Q2 2024
- Fees and commissions income: ₦237.6 million (+224.49% YoY)
- Employee benefits and compensation: ₦87.7 million (+49.61% YoY)
- Operating income: ₦71 million (+263.74% YoY)
- Interest income: ₦58.2 million (+491.51% YoY)
- Pre-tax profit: ₦129.3 million (+534.78% YoY)
- Retained earnings: ₦526.6 million (+184.96% YoY)
The company’s resurgence highlights growing investor confidence in alternative capital markets and the strengthening role of digital platforms in Nigeria’s financial ecosystem.