Nigerian Exchange Limited

Oscar Onyema Completes 10 Yrs Tenure As CEO of Nigerian Stock Exchange

Published

2 years ago

April 7, 2021

CEO of the Nigerian Stock Exchange (NSE), Mr

In commemoration of his leadership at the Nigerian Stock Exchange (NSE), the bourse honoured Oscar Onyema with a digital Closing Gong Ceremony to signify the completion of his tenure as the Chief Executive Officer of the bourse.

Following the successful demutualisation of The Exchange, Mr Onyema has transitioned into the Group Chief Executive Officer (GCEO), Nigerian Exchange Group (NGX Group) Plc.

Speaking at the Closing Gong Ceremony, the Chairman, Nigerian Exchange Group (NGX Group) Plc, Otunba Abimbola Ogunbanjo said, “It is impossible to overstate Oscar Onyema’s contributions to the growth of The Exchange and the development of the capital market in the past ten years.

“After his first year of leadership, it became evident that his strategic mindset and mastery of Exchange business was what NSE dearly needed to rise to its next level of growth. As anticipated, The Exchange went on to experience significant growth as the years went by, most notable of which is the recent completion of the demutualisation of The Exchange. It has indeed been a pleasure working with him in our time at the NSE and I look forward to our continued journey to greatness in the NGX era.”

On his part, the GCEO, NGX Group Plc, Mr Oscar N. Onyema, OON noted thus, “I arrived at The Nigerian Stock Exchange when the stock market was in the doldrums, investors’ confidence low, mono-product and the bourse under regulatory administration. With tunnel vision collaboration with stakeholders in the financial system and perseverance, we have been able to surmount almost all of the challenges.

“I am delighted to have worked with the astute members of the National Council, visionary leaders in the Executive Committee and expert crop of staff at The Exchange to have delivered excellent results. We have come a long way from where we used to be and I am excited about the opportunities demutualisation has opened for us in the coming years. I must reiterate my commitment to ensuring that the NGX Group Plc and its subsidiaries deliver on the mandate to become Africa’s leading capital market infrastructure provider. I look forward to deepening partnerships with existing stakeholders and exploring new collaborations locally and globally to bring this to bear.”

The demutualisation of The Exchange has led to the emergence of the Nigerian Exchange Group (NGX Group) Plc and three subsidiaries – Nigerian Exchange (NGX) Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited. Mr Temi Popoola, CFA will assume the role of CEO, NGX Limited, while Ms. Tinuade Awe will become the CEO, NGX RegCo Limited.

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Nigerian Exchange Limited

Nigerian Stock Market Rebounds on Tuesday as Investors Pocketed N10 Billion

Published

10 hours ago

March 22, 2023

Samed Olukoya

After a period of bearish trends, the Nigerian Exchange Limited (NGX) rebounded on Tuesday to post a N10 billion gain.

The market capitalisation of all the listed equities grew by 0.03% to close the day at N29.909 trillion while the NGX All-Share Index expanded by the same 0.03% to 54,906.65.

Market sentiments were even as both gainers and losers had 12 equities each on their charts at the close of the day’s trading. However, Linkage Assurance, Wapic, and Champion led the gainers’ table, gaining 9.76 per cent, 7.89 per cent, and 4.26 per cent, respectively.

On the other hand, Ikeja Hotel, Cadbury, and UPL topped the losers’ table with 9.65 per cent, 5.83 per cent, and 4.76 per cent loss, respectively, in their share values.

In terms of the most traded stocks, Zenith Bank led with 11,964,640 shares worth N298.835m exchanged in 255 deals, followed by GTCO with 10,472,370 million shares worth N258.239m traded in 252 deals. MTN Nigeria was the third most traded stock with 421,619 of its shares valued at N98.138m.

The rebound of the Nigerian Exchange Limited signifies a positive outlook for investors. As Nigeria’s economy continues to recover from the pandemic’s effects, the stock market is poised to bounce back, providing lucrative investment opportunities for local and foreign investors alike.

It is important to note that investing in the stock market comes with risks and rewards, and it is advisable to seek professional advice before making investment decisions.

Nigerian Exchange Limited

Investors Divests N69.378 Million from Nigerian Exchange Group in March 2023

Published

2 weeks ago

March 9, 2023

Samed Olukoya

Nigerian Exchange Limited - Investors King

The latest disclosures from the Nigerian Exchange Group have shown that a total of N69,378,297.12 was divested from the listed company by investors in March 2023.

Investors sold a combined 2,666,451 shares after the audited financial statement of the group showed profit plunged from N2.248 billion reported in the 2021 financial year to N698.482 million in the financial year ended December 31, 2022.

A breakdown of the disclosures signed by Obehi Ikhaghe, Ag. Company Secretary done by Investors King showed that the MIRI Strategic Emerging Markets Fund LP, Substantial Shareholder, sold 1,480,000 units of shares at N26.09 per share on 03 March 2023.

Pivot Capital Limited, a company related to a Statutory Audit Committee Member, Mr. Samuel Adejumo, relinquished 71,923 units at N26.40 a unit on 07 March 2023.

Somafam Global Concepts, also related to Mr. Samuel Adejumo, a Statutory Audit Committee Member, disposed of 20,000 units of shares at N26.45 per share on 07 March 2023.

Between March 06 and 07, 2023, MIRI Strategic Emerging Markets Fund LP sold another 1,094,528 units of shares at N25.89 a share.

The Nigerian Exchange Limited reported N7.499 billion in revenue and other income in 2022 while profit before minimum tax and income tax expense declined to N823.089 million from N2.401 billion filed in 2021 financial year.

Therefore, after paying N124.607 million in income tax expense for the 2022 financial year, the company announced N692.482 million in profit after tax.

While the decline has been consistent since the company was listed, aggressive selling by Mr. Samuel Adejumo, a Statutory Audit Committee Member of the company with presumable knowledge of the company’s financial position underscores the deteriorating state of the company.

Nigerian Exchange Limited

Stock Investors Gain N107 Billion on Wednesday as Market Capitalisation Hits N30.398tn

Published

2 weeks ago

March 9, 2023

Samed Olukoya

The Nigerian Exchange Limited (NGX) rebounded from its N1 billion loss of Tuesday to post a N107 billion gain on Monday ahead of the governor elections.

Investors transacted 152.743 million shares worth N3.573 billion in 3,293 transactions during the trading hours Wednesday, with the stock of Courtville emerging as the most traded equity with 34.604 million shares worth N16.609 million exchanging hands.

UBA and GTCo followed with 15.001 million and 15.001 million shares valued at N127.311 million and N335.934 million.

The market value of listed equities grew by N107 billion to N30.398 trillion while NGX All-Share Index expanded by 0.36% to 55,801.14 index points.

The financial sector index appreciated by 6 basis points (bps) with the stock of Union Bank of Nigeria leading the chart with 2.27%. The industrial sector index gained 84bps while consumer goods posted a 6 bps gain and the oil and gas sector lost 90 bps.

A total of 18 stocks gained points while 18 stocks lost points.

Top Five Gainers

Symbols	Last Close	Current	Change	%Change
TRANSEXPR	N 0.81	N 0.89	0.08	9.88 %
CUTIX	N 2.00	N 2.17	0.17	8.50 %
FTNCOCOA	N 0.26	N 0.28	0.02	7.69 %
SOVRENINS	N 0.28	N 0.30	0.02	7.14 %
HONYFLOUR	N 2.19	N 2.33	0.14	6.39 %

Top Five Losers

Symbols	Last Close	Current	Change	%Change
MRS	N 31.05	N 27.95	-3.10	-9.98 %
ABCTRANS	N 0.38	N 0.35	-0.03	-7.89 %
CHAMS	N 0.27	N 0.25	-0.02	-7.41 %
ARDOVA	N 18.55	N 17.40	-1.15	-6.20 %
ROYALEX	N 0.75	N 0.71	-0.04	-5.33 %