NASD Diversifies Operations 

In a strategic move to enhance its competitive edge, attract more customers, boost revenue and deliver shareholder value, the only licensed Over-The-Counter Exchange in Nigeria, NASD OTC has commenced the diversification of its operations.

Beside, The Exchange is already holding talks with the National Pension Commission (Pencom) to grant approval to the Pension Fund Administrators (PFAs), the institutional investors, to take advantage of the numerous opportunities in the  market .

Responding to media enquires about the current developments at NASD, the Chief Executive Officer, Mr Eguarekhide Longe, explained that the Exchange had planned to expand its revenue generation from a minimum of five platforms before the end of 2023, in order to redefine the value proposition of its business .

According to Longe, the proposed five income centre platforms are : The OTC Market, NASD Enterprise Portal, Donor Crowdfunding, Invoice Factoring and the Digital Securities Platform.

“NASD has clearly articulated its future development to diversify its revenue base so that it evolves a more sustainable and resilient business.  In the course of 2023, there is a plan to ensure that the Company begins to generate revenues, no matter how small from at least 5 different platforms. We have also fully engaged the regulator of PFAs, Pencom to grant the PFAs approval to invest through our market, “said Longe.