Dr. Okey Nwuke, a non-executive director in Access Bank, has purchased 1.3 million shares of Access Bank, according to the latest disclosure filing from the bank.
Nwuke bought 1.3 million shares at N7.45 a unit on May 5, 2021 at the Nigerian Stock Exchange (NSE).
Dr. Nwuke has over 28 years’ experience in finance and corporate governance working with top corporates and leading commercial banks in Nigeria. He is a Fellow of both the Institute of Chartered Accountants of Nigeria and Chartered Institute of Taxation of Nigeria, an honorary member of Chartered Institute of Bankers of Nigeria and a member of Business Recovery and Insolvency Practitioners.
He has garnered considerable expertise in credit analysis and bank financial management through professional training as a Chartered Accountant, from relevant training programmes as well as on the job training. He was an Executive Director in Access Bank from 2004 to 2013 and served as the Chairman of the Board of Directors of the Bank’s subsidiaries in Rwanda and Burundi. Dr. Nwuke was a pioneer Non-Executive Director of Stanbic IBTC Pension Managers Limited representing Access Bank.
Dr. Nwuke’s key competencies include finance, strategy development and execution, organizational restructuring and transformation, leadership and change management. He joined the Board of Coscharis Group in August 2014 and is currently responsible for the strategic drive to position it for sustainability. He currently chairs the Shareholders’ Audit Committee of NASCON Plc and sits on the Boards of Access Pension Fund Custodian Limited, First Ally Asset Management Limited, Claritus Limited and Simply Gifts and Interiors Limited.
He holds a B.Sc. Degree in Accountancy from University of Nigeria, Nsukka and an MBA (Distinction) in International Banking and Finance from the Birmingham Business School, United Kingdom. Dr. Nwuke holds a Doctorate Degree in Business Administration (DBA) from Walden University, Minnesota, USA with a research focus on leadership transition challenges in family businesses. He has been exposed to several leadership and professional development programmes at renowned institutions including Harvard Business School, Boston (AMP 175), Wharton Business School, Pennsylvania (both in U.S.A), INSEAD and IMD.
He joined the Board in November 2019 and currently chairs the Board Credit and Finance Committee. He is also the Vice-Chairman of the Board Technical Committee on Retail Expansion.
Equity Investors Gain N10 Billion Last Week
Investors at the Nigerian Exchange Limited gained N10 billion last week despite losing for three consecutive days.
Investors traded 1.290 billion shares worth N13.921 billion in 16,745 deals on the floor of the Exchange, in contrast to a total of 856.289 million shares valued at N10.752 billion that exchanged hands in 15,663 transactions in the previous week.
In terms of volume traded, the Financial Services Industry led the activity chart with 978.172 million shares valued at N8.300 billion traded in 8,716 deals. Therefore, contributing 75.80 percent and 59.62 percent to the total equity turnover volume and value respectively.
The Consumer Goods Industry followed with 62.006 million shares worth N1.187 billion in 2,546 deals. In the third place
was Conglomerates Industry, with a turnover of 49.055 million shares worth N126.288 million in 589 deals.
FBN Holdings Plc, United Bank For Africa Plc and Guaranty Trust Holding Company Plc were the three most traded equities, accounting for a combined 626.958 million shares worth N5.766 billion in 2,526 transactions and contributed 48.58 percent and 41.42 percent to the total equity turnover volume and value, respectively.
The NGX All-Share Index appreciated by 18.41 index points or 0.05 percent from 38,943.87 index points recorded in the previous week to 38,962.28 index point last week. Market Capitalization also appreciated by 0.05 percent or N10 billion to close N20.300 trillion, up from N20.290 trillion.
Similarly, all other indices finished higher with the exception of NGX 30, NGX CG, NGX Banking, NGX Pension, NGX-AFR Bank Value, NGX AFR Div Yield, NGX MERI Value and NGX Consumer Goods indices which depreciated by 0.04 percent, 0.36 percent, 0.43 percent, 0.05 percent, 0.72 percent, 0.50 percent, 0.75 percent and 0.04 percent, respectively. While the NGX ASeM, NGX Growth and NGX Sovereign Bond Indices closed flat.
Stock Investors Lose Another N11 Billion on Wednesday
The Nigerian Exchange Limited (NGX) extended decline on Wednesday as sentiment remained weak across the Exchange.
Investors exchanged 155,773,059 shares valued at N1.510 billion in 3,256 transactions during the trading hours of Wednesday, in contrast to 184,442,908 shares worth N2.343 billion that exchanged hands in 3,809 transactions on Tuesday.
Market value depreciated by N11 billion to N20.243 trillion on Wednesday, further down from N20.254 trillion it closed on Tuesday. While NGX All-Share Index dipped by 0.05 percent to 38,852.69 index points.
Transcorp Hotel Plc led gainers with N0.45 or 10 percent. Followed by Pharm-Deko Plc’s N0.16 or 9.88 percent gain. See the details below.
|TRANSCOHOT||N 4.50||N 4.95||0.45||10.00 %|
|PHARMDEKO||N 1.62||N 1.78||0.16||9.88 %|
|CONOIL||N 22.35||N 24.55||2.20||9.84 %|
|CORNERST||N 0.49||N 0.53||0.04||8.16 %|
|NEM||N 1.90||N 2.00||0.10||5.26 %|
|VERITASKAP||N 0.23||N 0.21||-0.02||-8.70 %|
|UCAP||N 9.00||N 8.55||-0.45||-5.00 %|
|CHAMS||N 0.22||N 0.21||-0.01||-4.55 %|
|ACCESS||N 8.90||N 8.60||-0.30||-3.37 %|
|JAPAULGOLD||N 0.47||N 0.46||-0.01||-2.13 %|
Stock Market Extends Decline Amid Profit-taking
The Nigerian stock market extended declines on Tuesday as selloff in the banking sector plunged investors’ wealth by N17 billion.
The Nigerian Exchange Limited All-Share Index depreciated by 0.08 percent to 38,873.85 index points, down from 38,906.42 index points recorded on Monday. While market value of listed equities dipped by N17 billion from N20.271 trillion on Monday to N20.254 trillion on Tuesday.
Investors traded 184,442,908 shares valued at N2.343 billion in 3,809 transactions during the trading hours of Tuesday, against 190,959,987 shares worth N2.353 billion in 3,462 transactions that exchanged hands on Monday.
In terms of volume traded, United Bank for Africa Plc led with 38994303.00 shares worth N297,640,689.80. GTCO followed with 19036730.00 shares valued at N517,862,116.20. See the details below.
|MRS||N 13.85||N 15.20||1.35||9.75 %|
|VERITASKAP||N 0.21||N 0.23||0.02||9.52 %|
|REGALINS||N 0.44||N 0.47||0.03||6.82 %|
|UNITYBNK||N 0.53||N 0.55||0.02||3.77 %|
|COURTVILLE||N 0.31||N 0.32||0.01||3.23 %|
|NEIMETH||N 1.90||N 1.75||-0.15||-7.89 %|
|CHAMS||N 0.23||N 0.22||-0.01||-4.35 %|
|JAPAULGOLD||N 0.49||N 0.47||-0.02||-4.08 %|
|SOVRENINS||N 0.25||N 0.24||-0.01||-4.00 %|
|WEMABANK||N 0.79||N 0.76||-0.03||-3.80 %|
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