Investors Gain N1 trillion from Investing in Stock of MTN Nigeria
MTN Nigeria’s stock investors have gained about N1 trillion between April 2020 and October 2020, according to the Nigerian Communications Commission (NCC).
The commission said Nigerians have started riping the reward of MTN Nigeria listing on the nation’s bourse, asserting that MTN Nigeria’s stock investors have “raked in approximately N1 trillion in price appreciation and dividends since April 2020”.
Dr Ikechukwu Adinde, the Director of Public Affairs, NCC, said listing MTN Nigeria in the Nigerian capital market was as a result of collective efforts of both the Central Bank of Nigeria and the regulatory body.
“The listing of MTN was as a result of NCC’s effective regulatory action taken during the mobile network operator’s fine settlement agreement in 2016, which compelled the telco to, among other things, list on the Nigerian Stock Exchange (NSE),” he said.
The statement reads: “The listing was one of the outcomes of the NCC’s stringent regulatory posture, which served as tonic for other telcos such as Airtel to follow the same direction.
“As the country’s independent telecoms regulatory authority, the NCC, working with the Central Bank of Nigeria (CBN), facilitated the landmark listing of the country’s largest telecommunications operator on the bourse.
“That important regulatory action enabled Nigerians, consistent with the Nigerian Communications Act (NCA) 2003, to partly, own, manage and control MTN. This bold and courageous regulatory action is now transforming lives and boosting the economy.
Adinde also explained that listing the telecom giant has helped promote local investment and ownership in the telecom industry.
He said “With MTN shares available in the capital market, it is expected that Nigerians will buy shares and by purchasing the shares of MTN, they will be financially empowered and be socially transformed.”
“Also, one of the benefits of listing on the NSE is that telcos have enormous opportunity for raising more capital for network expansion, which will, in turn, bring about improvement in the quality of service delivery and quality of experience for telecom consumers,” he added.
Aliko Dangote, Tony Elumelu and Other Industry Leaders To Speak At The launch of NGX’s The Stock Africa Is Made Of Campaign
The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18.
Industry leaders, including Aliko Dangote and Tony Elumelu, are to speak at the launch of the Nigerian Exchange Group (NGX Group)’s The Stock Africa Is Made Of campaign on Tuesday, May 18, 2021.
NGX Group is set to launch The Stock Africa Is Made Of Campaign to project its positioning and commitment to the African financial markets as a leading capital market infrastructure provider, connecting Nigeria, Africa and the world.
The campaign will be launched at a virtual event scheduled to hold on Tuesday, May 18, 2021, with Dangote and Elumelu as speakers.
Other industry leaders expected to speak at the event include Otunba Abimbola Ogunbanjo, Group Chairman, NGX Group Plc; Zainab Ahmed, Honourable Minister of Finance, Budget and National Planning, Federal Republic of Nigeria; Lamido Yuguda, CFA, Director-General, Securities and Exchange Commission; Masai Ujiri, President, Toronto Raptors; Temi Popoola, CFA, Chief Executive Officer (CEO), NGX; and Tinuade Awe, CEO, NGX Regulation (NGX RegCo) Limited. The event will be moderated by veteran Master of Ceremonies, Ik Osakioduwa.
The Stock Africa Is Made Of comes on the back of the successful demutualisation of The Nigerian Stock Exchange which led to the emergence of NGX Group Plc and its three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited.
The Stock Africa Is Made Of serves to amplify NGX Group’s new brand identity and spotlight the growth potential of the African continent.
“The Stock Africa Is Made Of is designed to reinforce the message that we are fully equipped and better positioned to champion the development of new and improved experiences for the benefit of domestic, regional and foreign stakeholders,” the Group Chief Executive Officer, NGX Group Plc, Oscar N. Onyema, OON said while commenting on the campaign.
“Built around the new corporate identity, the campaign emphasises the vibrancy and dynamism of NGX Group and its subsidiaries.
“It provides stakeholders with an immersive experience through creative messaging and opportunities for direct engagement with the brand.
“Our goal is not only to celebrate this pivotal point in our journey but to also show our stakeholders that we are ready and able to explore new frontiers in our quest to be the partner and platform of choice for meeting their business, financial and investment objectives.”
Nigerian music veteran 2baba and singer Chike will perform at the event.
Japaul Gold and Ventures Plc Drops 7 Percent Following Failure to File 2020, Q1 2021 Financial Statements
Shares of Japaul Gold and Ventures Plc, a mining business and technology development company, fell by N0.04 or 6.78 percent on Friday to close at N0.59 a share after the management of the company announced it will not be filing the first quarter (Q1) 2021 unaudited financial statements due to the pending audited financial statements of 2020.
On Friday, investors transacted 8.362 million shares of Japaul Gold and Ventures, the highest since May 4, 2021 when 9.317 million shares exchanged hands.
The uncertainty surrounding the H&H Mines Limited deal announced in November 2020, the fundraising expected for the deal and the lack of clarity surrounding the company’s financial position continue to drag on its shares and general outlook.
Japaul Gold closed as the third loser on the Nigerian Exchange Limited on Friday. The bourse gained N52 billion to close at N20.579 trillion on Friday.
Eternal Plc, Regency Assurance Plc, Others Boost Nigerian Exchange Limited (NGX) on Friday
Nigerian stocks extended their winning streak to three days as stocks of Eternal Plc, Regency Assurance Plc, NEM Insurance Plc and others closed in the green.
Investors traded 219.549 million shares valued at N2.918 billion in 4,107 deals during the trading hours of Friday.
The Exchange All-Share Index rose by 0.25 percent to 39,481.89 index points, up from 39,382.96 index points recorded on Tuesday before Ramadan break.
The market value of listed equities gained N52 billion from N20.527 trillion it settled on Tuesday to close the week at N20.579 trillion on Friday.
Zenith Bank led the most trade stock with 32,028,318.00 shares valued at N754,936,979.00, while Access Bank followed with 28,759,013.00 shares estimated at N243,792,645.45. See the details below.
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