By Peter Egwuatu
In a strategic move, aimed at unlocking its next phase of growth and complying with the Securities and Exchange Commission’s (SEC) revised minimum capital requirements, NASD OTC Exchange Plc has set a N12 billion recapitalisation target to reaffirm its status as a composite exchange.

The planned capital raise, expected to increase NASD’s capital base from over N1 billion to N12 billion will be executed through a Rights Issue.

Although details of the Rights Offer are yet to be released, the recapitalisation initiative has been approved by the Exchange’s shareholders at the Extraordinary General Meeting (EGM) held in Lagos on Thursday.

According to a statement from NASD, the fund raising is designed to strengthen the Exchange’s institutional capacity, broaden its operational scope, enhance its status as the foremost Alternative-Assets exchange, deepen its digital assets proposition (focused on onboarding real-world assets) ,and boost long-term value creation for shareholders.

NASD targets platform diversification through SMEs and securitising unique assets driven by tokenization on its blockchain based digital securities platform. Its strategic emphasis on emerging sectors such as solid minerals aims to align with global economic opportunities.

Stakeholders expressed confidence in NASD’s valueproposition and support the new capital raise. The EGM enabled them to share perspectives on navigating regulatory changes, managing market complexity, and responding to shifting economic conditions, with a clear emphasis on positioning NASD as a resilient, transparent, and future-ready market institution.

The meeting also focused on disciplined execution of strategy, deeper shareholder collaboration, and the adoption of equitable governance practices aimed at strengthening investor confidence and supporting sustainable returns. Stakeholders also examined ways to enhance NASD’s relevance within Nigeria’s evolving capital market ecosystem while maintaining alignment with global best practices.