Nigerian Exchange Group Plc Releases Positive Financial Results for Q3 2021

The Nigerian Exchange Group Plc released its financial results for the third quarter ended September 2021.

The results showed revenue increasing from N3.7 Billion in 2020 to N4.3 Billion in 2021 driven by an increase in listing fees from N376.5 Million in 2020 to N423.2 Million in 2021. The Exchanges’s investment in technology continued to bear fruit as revenue from Market data rose from N246 Million in 2020 to N253.8 Million in 2021.

Personnel expenses rose from N2 Billion in 2020 to N2.2 Billion in 2021, this saw operating profit increase from N327 Million in 2020 to N710 Million in 2021. Recognition of its share of profit in its associates of N1 Billion saw profit for the period increase from N1.3 Billion in 2020 to N1.5 Billion in 2021 (Nigerian Exchange Group has a 29.19% investment stake in CSCS Ltd as of September 2021 and has a 27.7% investment stake in NG Clearing as of September 2021)

The Nigerian Exchange Group Plc (“NGX Group”) formerly known as the Nigerian Stock Exchange, was incorporated in Nigeria as a private Exchange Limited by shares on 15 September 1960 as Lagos Stock Exchange and its name was changed to The Nigerian Stock Exchange on 15 December 1977. The Exchange was re-incorporated as an Exchange Limited by Guarantee on 18 December 1990. In 2021, the Nigerian Stock Exchange was fully demutualized changing from a member-owned not-for-profit entity into a shareholder-owned, profit-making entity. This gave rise to a new structure – Nigerian Exchange Group Plc (NGX Group) with subsidiaries – Nigerian Exchange Limited (NGX Exchange), NGX Regulation Limited (NGX REGCO), and NGX Real Estate Limited (NGX RELCO). The address of the NGX Group’s registered office is Stock Exchange House, 2/4 Customs Street, Lagos.

The principal activities of Nigerian Exchange Group Plc (“NGX Group”) and subsidiaries (the Group) include listing and trading securities, licensing, market data solutions, ancillary technology, regulation, real estate, and more through its wholly-owned subsidiaries – NGX Exchange, NGX REGCO, and NGX RELCO.