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NGX, Greenwich Securities and Africa Prudential Collaborate on Retail Investor Workshop

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Nigerian Exchange Limited - Investors King

Nigerian Exchange (NGX) Limited in collaboration with Greenwich Securities Limited and Africa Prudential Plc hosted a Retail Investor Workshop on Wednesday, 14 July 2021. The webinar themed, Realizing Income from Your Investments, Dividends to Coupons and Everything In-Between, aimed to promote investor education within the Nigerian capital market.

In delivering his opening remarks, the Divisional Head, Trading Business, NGX, Mr. Jude Chiemeka stated, “NGX is hosting this event in continuation of our commitment to providing relevant and strategic information targeted at equipping investors with the knowledge and skills necessary to effectively leverage the investment opportunities in the Capital Market. It is important that investors understand capital market investments and investment mechanisms, as only then will they be empowered to make sound investment decisions. We are, therefore, pleased to collaborate with two institutions that represent important stakeholders in the Nigerian capital market ecosystem – Greenwich Securities Limited and Africa Prudential Plc – representing the brokers and registrar businesses respectively. Looking ahead, The Exchange through its Retail Investor Coverage Department will continue to roll out initiatives designed to encourage retail investor involvement in the capital market.”

Speaking on the topic, Realising Income from Investment, the Acting Managing Director, Greenwich Securities Limited, Ms. Eniola Osula took participants through the various investment instruments available to retail investors on the NGX platform. On her part, the Deputy Registrar/Chief Operating Officer, Africa Prudential Plc, Ms. Catherine Nwosu shed light on the topic, Investment: Innovations in the Registrar Space, highlighting the efforts of Registrars to ease the investment process end-to-end. The event culminated in a presentation from the Head, X-Academy, NGX, Ms. Ugochi Obi on the learning opportunities NGX provides to deepen knowledge about the capital market.

NGX continues to respond to the growing need for increased retail participation in the market through its products and services, advanced strides in the use of technology and more frequent engagements across touchpoint. The market continues to look forward to initiatives such as this that will ultimately deepen the capital market and improve liquidity.

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

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Capital Market

Oliver Alawuba, UBA Deputy Managing Director, Increases Stake in United Bank for Africa

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Oliver Alawuba - Investors King

Oliver Alawuba, Deputy Managing Director of the United Bank for Africa, has added 986,000 shares valued at N7.148 million to his stake in the bank.

The lender disclosed in a statement signed by Bili A. Odum, Group Company Secretary, UBA Plc.

Mr. Alawuba purchased the shares at N7.25 a unit on Thursday, June 24, 2021 at Lagos, Nigerian Exchange Limited trading floor.

Oliver Alawuba has worked with the UBA Group for almost 20 years and was appointed in January 2020, CEO for the Group’s Africa operations. He previously held the role as CEO of UBA in Ghana and more recently, as Regional CEO for UBA in Anglophone Africa.

Mr. Oliver Alawuba has over twenty years of work experience in the banking industry and the academia. Oliver was at various times an Executive Director at Finbank Nigeria Plc (now FCMB Plc), MD/CEO of UBA Ghana Ltd, MD/CEO of UBA West Africa, Directorate Head, Public Sector and Personal Banking and Regional CEO, UBA Africa – Anglophone.

Oliver has B.Sc and M.Sc degrees in Food Science and Technology and MBA in Banking and Finance. He is an alumnus of the AMP and SEP programmes of the prestigious Insead Business School, France, and London Business School respectively. He is also a Fellow of Nigerian Institute of Management and Honorary Senior Member of Chartered Institute of Bankers of Nigeria.

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Capital Market

Abdul Samad Rabiu, Chairman of BUA Cement, Transfers N7 million Worth of Shares to Godswill Egbe

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Abdul Samad Rabiu - Investors King

Mr. Abdul Samad Rabiu, the Chairman of BUA Cement Plc and founder of BUA International Limited, has transferred 100,000 shares at N69.92 each through BUA International Limited to Godswill Egbe, a project manager.

The details of the transaction were contained in the two disclosure statements released through the Nigerian Exchange Limited on Friday.

The nominal transfer was recorded as a sale of shares for BUA International Limited (Transferor) and as a purchase of shares for Godswill Egbe (Transferee).

“Nominal transfer is the transfer of unlisted public securities between a Transferor and Transferee who are related or connected parties with no exchange of money or consideration for the transfer.”

The total value of the shares stood at N6.9 million. Therefore, bringing the total value of shares divested or sold by Rabiu in the last one month to N1.933 billion.

In June 2021, Investors King had reported that the chairman divested 27,130,000 shares valued at N1,926,230,000. Rabiu still holds about 31 billion shares in the company, representing around 92 percent of the total shares issued by BUA Cement.

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Capital Market

NGX, NG Clearing Hold Engagement Session With PFAs on Derivatives

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Nigerian Exchange Limited Derivatives - Investors King

Nigerian Exchange (NGX) Limited continues to drive understanding of derivatives ahead of the launch of Exchange Traded Derivatives in the Nigerian capital market. On Thursday, 8 July 2021, NGX in collaboration with NG Clearing hosted a virtual engagement with Pension Fund Administrators (PFAs).

Speaking at the event, the Divisional Head, Trading Business, NGX, Mr. Jude Chiemeka stated, “In line with our committment to deepen the Nigerian capital market, NGX will introduce derivatives as a new asset class to the benefit of stakeholders, including PFAs. We are confident that derivatives will provide a greater pool of liquidity and the participation of PFAs in NGX derivatives market will not only allow PFAs to protect their positions but also benefit from various opportunities. That said, being the first line of contact for investors in the capital market, NGX is focused on educating market participants through workshops, webinar and conferences which will continue pre and post-product launch.

Mr. Chiemeka also highlighted three main elements which are critical to the success of any derivatives market and expounded on the efforts of NGX in ensuring these are in place. The areas are: market efficiency and integrity, financial safety and integrity, and customer protection (fair treatment of customers). He further stated, “Ahead of the launch of derivatives, The Exchange trading system, X-GEN, has been configured to trade derivatives products and there are rules governing order priority. Also, The Exchange has a robust market surveillance system – SMART – to monitor the market on a regular basis for any potentially manipulative behaviour of market participants.”

It would be recalled that NGX received approval for seven derivatives contracts from the Securities and Exchange Commission (SEC) on 28 June 2021. The approved contracts are: Access Bank Plc Stock Futures, Dangote Cement Plc Stock Futures, Guaranty Trust Bank Plc Stock Futures, MTN Nigeria Communications Plc Stock Futures, Zenith Bank Plc Stock Futures, NGX 30 Index Futures, and NGX Pension Index Futures.

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