NGX Regulation Limited (NGX RegCo), the independent regulatory arm of Nigerian Exchange Group, has published its supervision priorities for 2021 on Wednesday, 14 April 2021.
To ensure a fair and orderly market, the supervision priorities provide guidance to Trading License Holders (TLHs) of the Exchange, the investing public, and other stakeholders and are underpinned by business practices considered to be of market wide interest. The 2021 Supervision Priorities can be accessed here.
According to the Chief Executive Officer, NGX RegCo, Ms. Tinuade Awe, “The priority document provides an insight into the performance of TLHs with regards to previous areas of regulatory concerns and observed emerging trends. Some of these include the increased dependence of TLHs on virtual communication and trading channels occasioned by the COVID-19 pandemic, as well as new market trends as it relates to new laws, regulation, and rules. Our supervisory programs have, therefore, been reevaluated to introduce various initiatives designed to deal with the present challenges, including issuing statements, developing dialogue platforms for regulatory updates and providing assistance through regulatory arrangements that seek to cushion the financial and operational effects of regulatory activity on the businesses of our stakeholders as appropriate”.
This year, NGX RegCo will focus primarily on nineteen (19) areas of regulatory concerns organised into four (4) broad categories:
- Market Integrity
- Emerging Trends
Stocks on Nigerian Exchange Limited Sustains Gain on Tuesday
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
|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|
Investors Jump on Union Bank of Nigeria’s Shares Amid Acquisition Rumour
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.
Nigerian Exchange Limited Gains N59.4 Billion on Monday
Stocks in Africa’s largest economy, Nigeria, gained N59.4 billion on Monday amid positive first-quarter results.
The Nigerian Exchange Limited All-Share Index rose by 0.29 percent from 39,198.75 index points it closed on Friday to settle at 39312.74 index points on Monday.
During the trading hours of Monday, investors traded 324.187 million shares valued at N3.281 billion in 4,867 deals.
The market value of listed stocks grew by N59.4 billion from N20.431 trillion recorded on Friday to N20.491 trillion on Monday.
Regency Assurance Plc (Regalins) led gainers with N0.03 or 9.68 percent to close the day at N0.31 per share.
Associated Bus Company Plc (ABCTRANS) followed with the same amount of gain, N0.03 or 9.68 percent to settle at N0.31 a share. Union Bank of Nigeria came third with N0.5 or 9.26 percent to close at N5.5 per share. See the details below.
News4 weeks ago
COVID-19: Nirsal Microfinance Bank (NMFB) Loan – Covid19.nmfb.com.ng
Billionaire Watch1 week ago
Ethereum Co-Founder Becomes The Youngest Crypto Billionaire As ETH Hits $3K
News4 weeks ago
Covid19.nmfb.com.ng: How to Check Nirsal COVID-19 Loan Status
Crude Oil4 weeks ago
Oil Rises on Drawdown in U.S. Oil Stocks, OPEC Demand Outlook
Cryptocurrency3 weeks ago
Electronics Retailer Newegg now Accepts Dogecoin As Payment
News2 weeks ago
FG Declares Monday, May 3rd Public Holiday To Celebrate Workers Day
Appointments1 week ago
Buhari Suspends Hadiza Bala Usman as MD of NPA, Appoints Koko
Brands2 weeks ago
Netflix Partners Ikorodu Bois on Oscars Film Brand Campaign