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Nigerian Exchange Limited

‘Executive Directors Earned N755m as Compensation in 2021’ – NGX

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Nigerian Exchange Limited - Investors King

The Nigerian Exchange Group PLC (NGX) have revealed that three Executive Directors earned N754.87 million as compensation in 2021.

According to the NGX, the amount paid to the executive directors was a 78.41% increase from the N423.12 million compensation received by the executive directors in 2020. The update is contained in the group’s full-year results for 2021.

The report also implies that the executive directors, in 2020, took home as compensation, N141.04 million each and N251.6 each in 2021.

According to the group, the “Executive compensation relates to compensation paid to Chief Executive Officer and Executive Directors who are not Board members.” The Group also explained that it had three executive directors in 2021  and 26 management staff for the second consecutive year.

However, the report by the group also discloses that the non-management staff of the NGX in 2021 dropped to 176 from 241 recorded in 2020.

The executive committee members of the group include its Group Managing Director/Chief Executive Officer, Mr Oscar Onyema; Chief Executive Officer, NGX, Mr Temi Popoola and Chief Executive Officer, NGX REGCO, Ms Tinuade Awe.

Investors King also discovered that in the 2021 financial year report, sitting allowances of NGX directors dropped by 4.7 per cent to N56.74 million, from the N59.55 million reported in 2020 while the remuneration disbursed to the board members (excluding pension and reimbursable allowances) increased by 68.2 per cent to N811.6 million in 2021, from the N482.66 million reported in 2020.

The report also reveals that the Chairman of the board, Otunba Abimbola Ogunbanjo received N6.6 million as remuneration in 2021, which was also an increase of 33.3 per cent from the N4.9 million received in 2020.

Salaries and allowance reports by the Group also rose by 2.5 per cent to N3.03 billion in 2021, against N2.96 billion in 2020.

In total, the group reported N2.25 billion in profit which represented a 22% increase from the N1.84 billion reported in 2020, even though revenue grew by 14.9 per cent to N5.78 billion from N5.03 billion in 2020.

The MD/CEO revealed that the NGX Group focused on formulating and executing the strategy of the Holding company in 2021, which includes building multiple businesses across the entire capital market value chain with diversified revenues as well as strategic and operational flexibility.

Investors King recalls that the Nigerian Stock Exchange (NSE) in 2021 was demutualised to allow the sale of its shares to investors and be listed for trading. This resulted in the creation of a new non-operating holding company, the Nigerian Exchange Group Plc (NGX Group) which Onyema serves as its Group Chief Executive Officer (GCEO,
The listing mandated full disclosure of the Group’s accounts to the investors and general public.

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Nigerian Exchange Limited

NGX Charges Companies on Full Disclosure of Business Impacts 

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Nigerian Exchange Limited - Investors King

The Nigeria Exchange Limited (NGX) says organisations must present full reports about their environmental and social impacts. 

Speaking at a webinar session organised by the Corporate Secretaries International Association on how businesses and organisations could carry a “full 360 approach to market disclosure, the Chief Executive Officer, NGX Regulation Limited, Ms Tinuade Awe said “Our world today is facing major sustainability challenges including inequality, overpopulation, climate change, and several environmental risks.

Discussing the importance of measuring and reporting sustainability performance for companies she said: “By recognising that capital allocation makes a real impact on the environment and society at large, investors can reap sustainable long-term investment decisions through investments in ESG-themed investments.

“Adopting an ESG-lens in our approach to investment is critical for investors to identify businesses that implement a forward-looking approach to managing long-term risks and leveraging opportunities that ensure long-term economic, environmental, and social responsibility,” she said. 

Awe encouraged companies to adopt best practices in their disclosure on ESG issues by ensuring that their sustainability reports capture relevant sustainability disclosures that are relevant to their stakeholders.

“Historically, sustainability reports address a company’s approach to managing the triple bottom line of people, profit and planet. However, disclosures in sustainability reports have evolved over the years to address the needs of a wide array of stakeholders, she said in respect to critical disclosures that should be included in a sustainability report. 

“In publishing their sustainability reports, companies should consider a number of relevant disclosures including materiality, sustainability risks, and opportunities as well as a detailed explanation of how companies are addressing the risks and levering the opportunities.

She added that a sustainability report should include disclosures on how sustainability is governed by the board, executive management, and designated officers responsible for managing the organisation’s impact footprint.

The programme was themed, ‘Unlocking ESG for boards from strategy to disclosure’.

 

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Nigerian Exchange Limited

Stock Activity Rises as Investors Gained N298 Billion

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Stock Bull - Investors King

The Nigerian Exchange Limited (NGX) rebounded from its three days of consecutive declines to close in the green on Thursday despite only 21 stocks recording gains, against 29 stocks that dipped.

Activity in the Nigerian stock market rose on Thursday as investors exchanged 274,556,626 stocks valued at N8.447 billion in 5,184 deals, against 611,973,850 shares worth N 7.426 billion that exchanged hands in 5,948 transactions on Wednesday.

Transcorp was the most traded equity, accounting for 48,381,202 shares valued at N61,433,118.18. MTN Nigeria followed with 20,601,952 shares worth N5,494,941,075.80.

Breaking down each sector, the banking sector shed 76 basis points as stocks of Fidelity Bank, Ecobank, Union Bank of Nigeria, Unity Bank and Zenith Bank closed in the red. Sterling Bank and United Bank for Africa were some of the gainers in the sector.

Similarly, the consumer goods index dropped 23 basis points on the back of a 4.29% decline in Champion, 1.84% loss in Intbrew and a 1.33% decline in Unilever. PZ closed with a 0.37% gain.

The decline in value of Conoil, Ardova and Oando dragged oil and gas index down by 79bps. However, the industrial index, the only sector that closed in the green, posted a 14bps gain as Wapco gained 1.59%.

The market capitalisation of all listed stocks appreciated by N298 billion from N28.423 trillion it settled on Wednesday to N28.721 trillion on Thursday. While NGX All-Share Index appreciated by 1.05% to 53,275.49 index points, up from 52,721.34 index points recorded on Wednesday.

The Exchange year-to-date inched slightly higher to 24.72%. See the details of top gainers and losers below.

Top Gainers

Symbols Last Close Current Change %Change
TRANSCOHOT N 5.36 N 5.89 0.53 9.89 %
BETAGLAS N 57.00 N 62.55 5.55 9.74 %
MCNICHOLS N 1.77 N 1.94 0.17 9.60 %
VERITASKAP N 0.21 N 0.23 0.02 9.52 %
MULTIVERSE N 0.22 N 0.24 0.02 9.09 %

Top Losers

Symbols Last Close Current Change %Change
CONOIL N 31.50 N 28.35 -3.15 -10.00 %
ETERNA N 7.30 N 6.60 -0.70 -9.59 %
PRESTIGE N 0.44 N 0.40 -0.04 -9.09 %
CHAMS N 0.24 N 0.22 -0.02 -8.33 %
ROYALEX N 1.36 N 1.26 -0.10 -7.35 %

Top Gainers 

Symbols Volume Value
TRANSCORP 48381202.00 61433118.18
MTNN 20601952.00 5494941075.80
CONOIL 14343947.00 409104093.15
GTCO 13729757.00 328084274.55
FBNH 13536021.00 162456410.40

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Nigerian Exchange Limited

Nigerian Stock Market Shed 0.07% Despite Investors Dumping N1.897 Billion on FBN Holdings

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stock - Investors King

The Nigerian Exchange Limited (NGX)  shed 0.07% in value on Wednesday to extend its decline despite investors dumping N1.897 billion shares of FBN Holdings Plc following as announcement it was acquiring Access Bank owned pension company.

Investors exchanged 611,973,850 shares valued at N 7.426 billion in 5,948 transactions during the trading hours of Wednesday. FBN Holdings led the most traded stocks with 153,336,385 shares worth N1,897,131,354.35. This was followed by Jaiz Bank and GTCo as shown in the table below.

Analysis of sectoral performance revealed that the banking index appreciated by 10 basis points on moderate gains in Zenith Bank and Fidelity Bank. Wema Bank dipped by 7.61%.

The consumer goods index also rose by 29 basis points as stocks of Champion, Unilever, PZ, Interbrew and Cadbury grew by 7.03%, 2.74%, 1.89%, 1.24% and 0.85%, respectively.  Honey Flour shed 1.06%.

Also, the oil and gas index expanded its gain by 19 basis points on the back of slight gains in Oando (1.3%) and Seplat (o.o1%). However, the industrial index declined by 19 basis points on an 8.86% decline in BERGER, 4.14% in Cutix  and 2.41% in Wapco.

The market capitalisation of all the listed equities depreciated to N28.423 trillion while the NGX All-Share Index lost 0.07% to close the day at 52,721.34 index points. A total of 21 stocks appreciated during the trading hours of Wednesday while 23 stocks lost points. The year-to-date gain moderated to  23.42%. See the details of top gainers and losers below.

Top Gainers 

Symbols Last Close Current Change %Change
MCNICHOLS N 1.61 N 1.77 0.16 9.94 %
TRANSCOHOT N 4.88 N 5.36 0.48 9.84 %
CHAMPION N 3.70 N 3.96 0.26 7.03 %
CHIPLC N 0.61 N 0.65 0.04 6.56 %
MULTIVERSE N 0.21 N 0.22 0.01 4.76 %

Top Losers 

Symbols Last Close Current Change %Change
ACADEMY N 1.51 N 1.36 -0.15 -9.93 %
BERGER N 7.90 N 7.20 -0.70 -8.86 %
NEIMETH N 1.75 N 1.60 -0.15 -8.57 %
MAYBAKER N 4.70 N 4.30 -0.40 -8.51 %
WEMABANK N 3.55 N 3.28 -0.27 -7.61 %

Top Trades

Symbols Volume Value
FBNH 153336385.00 1897131354.35
JAIZBANK 116641894.00 104480216.46
GTCO 65930061.00 1577428696.70
FCMB 43484514.00 152172006.66
TRANSCORP 40734151.00 57855266.09

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