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NSE Moves to Deepen Market Liquidity, Appoints New Product Advisory Committees



Nigerian Stock Exchange

Nigerian Stock Exchange Appoints New Product Advisory Committees to Deepen Market Liquidity

The Nigerian Stock Exchange (NSE) said it had appointed new Product Advisory Committees (Committees) across Equities, Fixed Income, Exchange Traded Funds (ETFs) and Derivatives product lines.

In a statement released on its website, the Exchange said the committees comprise of top professionals with expertise, experience and footprint in local and global financial markets.

It said they would provide support and advise the Exchange on emerging trends in the areas of product development and market structure.

Also, they would be tasked with the responsibility of recommending strategic initiatives that would boost market liquidity, deepen and develop the nation’s capital market.

Commenting on the development, Mr. Oscar N. Onyema, the Chief Executive Officer, NSE, said “The Exchange is resolute in its ambition to become Africa’s preferred multi-asset securities exchange. We have, therefore, constituted these Product Advisory Committees to leverage the vast experience, diverse viewpoints and extensive networks of financial market technocrats to further strengthen and deepen our market. We are confident that the Committees will discharge their duties excellently to help us meet the needs of both local and international stakeholders while making The Exchange globally competitive.

The new members that will serve a two-year term are as follows:

Advisory Members for ​​​​Fixed Income Are: Mrs. Hajara Adeola – MD/CEO, Lotus Capital Limited (Chairperson); Ms. Patience Oniha – DG, Debt Management Office; Mrs. Titi Ogungbesan – Chief Executive, Stanbic IBTC Stockbrokers Limited; Mr. Oluseye Olusoga – MD, Parthian Partners Limited; Mrs. Nkoli Edoka – MD/CEO, Cowry Securities Limited; Ms. Esohe Denise Odaro – Head of Investor Relations, International Finance Corporation (IFC); Mrs. Iyobosa Sorae – Group Head, Securities Dealing, Coronation Merchant Bank; and Mr. Akin Adigun – Senior Investment Officer, African Development Bank (AfDB).

Equities: Mr. Wale Agbeyangi – MD, Cordros Capital Limited (Chairperson); Dr. Farouk Aminu – Head, Investment Supervision, National Pension Commission (PENCOM); Mr. Dave Uduanu, CFA – CEO, Sigma Pensions; Mr. Akeem Oyewale – CEO, Stanbic Nominees; Mrs. Lilian Olubi – MD, EFG Hermes Nigeria Limited; Mr. Roy Zimmerhansl – Practice Lead, Pierpoint Financial Consulting; Mr. Ziv Okun – Head of African Sales, Investec; Mr. Thomas Brown – CEO, J. Streicher & Co. L.L.C; and Mrs. Odiri Oginni, CFA – MD, United Capital Asset Managers Limited.

ETFs: Mr. Cliff Weber – CEO, Financial Products Consulting Group (Chairperson); Mr. Effiok E. Effiok – Head, Investment Management, Securities Exchange Commission (SEC); Ms. Debbie Fuhr – Partner, ETFGI, Mr. John Adu – Head Business Development, Europe, the Middle East and Africa (EMEA), JP Morgan Asset Management; Mr. Damilola Ajayi – Managing Director, Vetiva Fund Managers Limited; Ms. Helena Conradie, CFA – CEO, Satrix; Mr. Shuaib Audu – Executive Director, Stanbic Asset Management Limited; Ms. Nerina Visser – Director & Co-owner, etfSA Portfolio Management Company, South Africa; Mr. Akikunmi Majaro – MD, Absa Securities Nigeria Limited; and Mr. Deji Tunde-Anjous – MD, AXAMansard Investments.

Derivatives: Mr. Charlie Rubin – Derivatives Consultant, United States of America (USA) (Chairperson); Mr. Michael Okon – Head of Structuring, West Africa, Rand Merchant Bank (RMB); Mrs. Laura Fisayo-Kolawole – Senior Vice President, FBNQuest Asset Management; Mr. Temi Popoola – CEO, Renaissance Capital; Dr. Peter M. Werner – Senior Council, International Swaps and Derivatives Association (ISDA), United Kingdom; and Mr. Yemi Akisanya – Head of Diversity & Inclusion, OCC, USA.

The Nigerian Stock Exchange commended outgoing members of the Committees whose tenure has now come to an end, and look forward to working with the new members.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.

Nigerian Stock Exchange

Stocks on Nigerian Exchange Limited Sustains Gain on Tuesday



Stock Bull - Investors King

Listed stocks on the Nigerian Exchange Limited gained N36 billion on Tuesday to sustain Monday’s positive momentum.

The bourse All-Share Index rose by 0.18 percent from 39,312.74 index points on Monday to close at 39,382.96 index points on Tuesday. While the market value of listed equities expanded by N36 billion to settle at N20.527 trillion, up from N20.491 trillion recorded on Monday.

Investors traded 296.596 million shares valued at N3.362 billion in 4,265 transactions during the trading hours of Tuesday.

Meyer led gainers with N0.05 or 9.62 percent gain to close at N0.57 per share. This was followed by Presco with N6.90 or 9.58 percent gain as shown below.

Stock Market Snapshot

ASI 39,382.96
DEALS 4,265.00
VOLUME 296,596,623.00
VALUE N 3,361,573,907.37
EQUITY CAP N 20,527,328,320,996.84
BOND CAP N 17,216,586,380,738.50
ETF CAP N 18,261,586,163.62

Top Gainers

Symbols Last Close Current Change %Change
MEYER N0.52 N0.57 0.05 9.62%
PRESCO N72.00 N78.90 6.90 9.58%
UAC-PROP N0.76 N0.83 0.07 9.21%
AFRIPRUD N6.00 N6.55 0.55 9.17%
UNITYBNK N0.55 N0.60 0.05 9.09%

Top Losers

Symbols Last Close Current Change %Change
REGALINS N0.34 N0.31 -0.03 -8.82%
HONYFLOUR N1.20 N1.13 -0.07 -5.83%
CUTIX N2.21 N2.10 -0.11 -4.98%
UCAP N6.00 N5.76 -0.24 -4.00%
WAPIC N0.53 N0.51 -0.02 -3.77%

Top Trades

Symbols Volume Value
ACCESS 58,558,705.00 N494,147,223.85
UACN 38,274,061.00 N394,222,603.70
FIDELITYBK 27,150,533.00 N62,355,969.20
ZENITHBANK 26,421,735.00 N609,738,886.60
TRANSCORP 15,626,067.00 N14,179,618.10

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Stock Market

Global Sell-off Should be a Reality Check for Investors: deVere CEO



Global Sell off - Investors King

Concerns about inflation that are rattling global stock markets on Tuesday should be used as a reality check for investors, says the CEO of one of the world’s largest financial advisory and fintech organizations.

The observation from Nigel Green, chief executive and founder of deVere Group comes as the pan-European Stoxx 600 index dropped 2.3%, with London’s FTSE 100 falling 2.4%.

Losses in Europe follow those in the Asia Pacific region. Hong Kong’s Hang Seng closed more than 2% lower and Japan’s Nikkei 225 ended the Tokyo trading session having shed more than 3%.

Meanwhile, U.S. futures are down across the board ahead of the opening bell in New York.

Mr Green says: “It is to be expected that there would be a jump in prices and supply shortages, in goods like chips and some commodities, as economies re-open and pent-up demand is unleashed by households, businesses and entire industries.

“We’re at a point of major readjustment following an unprecedented economic shock and this is fuelling concerns that rising inflation will trigger central banks to tighten monetary policy which will hit asset prices.

“It is this scenario that is rattling markets and triggering a global sell-off.”

He continues: “Tech shares are bearing the brunt of the sell-off, but this will also be used as an opportunity.

“With our daily lives becoming ever more digitalized – and at a staggering pace – tech will remain one of the mega-trends for investors for the foreseeable future.

“Savvy investors will be drawn to the massive growth that tech offers and this sell-off will used as a buying opportunity.  Nobody seriously believes the future isn’t online.”

Therefore, says Mr Green, investors would be wise to be “selective” about the sell-off.

“With some of the heat being taken out of the markets, with some stocks way too high, they are likely to – perhaps more judiciously than before – move to capitalize on this dip.”

The deVere CEO concludes: “Of course, I don’t have a crystal ball, but history shows that stock markets typically rise over the longer-term.

“Therefore, in the near future, I predict many investors will be seeking out the buying opportunities that exist.”

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Nigerian Stock Exchange

Investors Jump on Union Bank of Nigeria’s Shares Amid Acquisition Rumour



Union bank - Investors King

Shares of Union Bank of Nigeria Plc, a leading financial institution in Nigeria, rose by 50 kobo or 9.26 percent on Monday following reports that Atlas Mara Limited, a 49.7 percent owner in the bank has been talking to investors to sell its stake.

Investors King had reported that Bloomberg sources claimed Atlas Mara Limited, a London Stock Exchange-listed pan-African banking group started by Mr. Bob Diamond is in talks with Zenith Bank, Access Bank and other investors across Africa to sell its holding in the bank.

Since the report became public investors have been acquiring shares of Union Bank in case Zenith Bank or Access Bank, one of the leading banks in the country, acquire it. Even the bank’s CEO, Godson Chukwuemeka Okonkwo, purchased an additional 2,431,917 ordinary shares of the bank on Thursday, according to the bank’s latest disclosure filing.

Union Bank of Nigeria was the third-highest gainer on Monday.

The Nigerian Exchange Limited gained N59.4 billion on Monday to close at N20.491 trillion on Monday.

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