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NSE Moves to Deepen Market Liquidity, Appoints New Product Advisory Committees



Nigerian Stock Exchange

Nigerian Stock Exchange Appoints New Product Advisory Committees to Deepen Market Liquidity

The Nigerian Stock Exchange (NSE) said it had appointed new Product Advisory Committees (Committees) across Equities, Fixed Income, Exchange Traded Funds (ETFs) and Derivatives product lines.

In a statement released on its website, the Exchange said the committees comprise of top professionals with expertise, experience and footprint in local and global financial markets.

It said they would provide support and advise the Exchange on emerging trends in the areas of product development and market structure.

Also, they would be tasked with the responsibility of recommending strategic initiatives that would boost market liquidity, deepen and develop the nation’s capital market.

Commenting on the development, Mr. Oscar N. Onyema, the Chief Executive Officer, NSE, said “The Exchange is resolute in its ambition to become Africa’s preferred multi-asset securities exchange. We have, therefore, constituted these Product Advisory Committees to leverage the vast experience, diverse viewpoints and extensive networks of financial market technocrats to further strengthen and deepen our market. We are confident that the Committees will discharge their duties excellently to help us meet the needs of both local and international stakeholders while making The Exchange globally competitive.

The new members that will serve a two-year term are as follows:

Advisory Members for ​​​​Fixed Income Are: Mrs. Hajara Adeola – MD/CEO, Lotus Capital Limited (Chairperson); Ms. Patience Oniha – DG, Debt Management Office; Mrs. Titi Ogungbesan – Chief Executive, Stanbic IBTC Stockbrokers Limited; Mr. Oluseye Olusoga – MD, Parthian Partners Limited; Mrs. Nkoli Edoka – MD/CEO, Cowry Securities Limited; Ms. Esohe Denise Odaro – Head of Investor Relations, International Finance Corporation (IFC); Mrs. Iyobosa Sorae – Group Head, Securities Dealing, Coronation Merchant Bank; and Mr. Akin Adigun – Senior Investment Officer, African Development Bank (AfDB).

Equities: Mr. Wale Agbeyangi – MD, Cordros Capital Limited (Chairperson); Dr. Farouk Aminu – Head, Investment Supervision, National Pension Commission (PENCOM); Mr. Dave Uduanu, CFA – CEO, Sigma Pensions; Mr. Akeem Oyewale – CEO, Stanbic Nominees; Mrs. Lilian Olubi – MD, EFG Hermes Nigeria Limited; Mr. Roy Zimmerhansl – Practice Lead, Pierpoint Financial Consulting; Mr. Ziv Okun – Head of African Sales, Investec; Mr. Thomas Brown – CEO, J. Streicher & Co. L.L.C; and Mrs. Odiri Oginni, CFA – MD, United Capital Asset Managers Limited.

ETFs: Mr. Cliff Weber – CEO, Financial Products Consulting Group (Chairperson); Mr. Effiok E. Effiok – Head, Investment Management, Securities Exchange Commission (SEC); Ms. Debbie Fuhr – Partner, ETFGI, Mr. John Adu – Head Business Development, Europe, the Middle East and Africa (EMEA), JP Morgan Asset Management; Mr. Damilola Ajayi – Managing Director, Vetiva Fund Managers Limited; Ms. Helena Conradie, CFA – CEO, Satrix; Mr. Shuaib Audu – Executive Director, Stanbic Asset Management Limited; Ms. Nerina Visser – Director & Co-owner, etfSA Portfolio Management Company, South Africa; Mr. Akikunmi Majaro – MD, Absa Securities Nigeria Limited; and Mr. Deji Tunde-Anjous – MD, AXAMansard Investments.

Derivatives: Mr. Charlie Rubin – Derivatives Consultant, United States of America (USA) (Chairperson); Mr. Michael Okon – Head of Structuring, West Africa, Rand Merchant Bank (RMB); Mrs. Laura Fisayo-Kolawole – Senior Vice President, FBNQuest Asset Management; Mr. Temi Popoola – CEO, Renaissance Capital; Dr. Peter M. Werner – Senior Council, International Swaps and Derivatives Association (ISDA), United Kingdom; and Mr. Yemi Akisanya – Head of Diversity & Inclusion, OCC, USA.

The Nigerian Stock Exchange commended outgoing members of the Committees whose tenure has now come to an end, and look forward to working with the new members.

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

Stock Market

United Capital Lists N10Billion Senior Unsecured Fixed Rate Series I Bonds




United Capital N10Billion Senior Unsecured Fixed Rate Series I Bonds

United Capital Plc on Tuesday announced it has listed N10Billion 5 Year 12.5 per cent Senior Unsecured Fixed Rate Series I Bonds Due 2025 Under the N30,000,000,000 Debt Issuance Programme.

In a statement released through the Nigerian Stock Exchange, the company said “United Capital Plc – Listing of United Capital Plc’s N10Billion 5 Year 12.5% Senior Unsecured Fixed Rate Series I Bonds Due 2025 Under the N30,000,000,000 Debt Issuance Programme.”

“Dealing Members are hereby notified that United Capital Plc’s N10Billion 5 Year 12.5% Senior Unsecured Fixed Rate Series I Bonds Due 2025 under the N30,000,000,000 Debt Issuance Programme were today Tuesday, 22 September 2020 listed on Daily Official List of The Nigerian Stock Exchange.”

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Stock Market

Nestlé S.A. Up Stake in Nestle Nigeria Plc to 66.3%




Nestlé S.A. Switzerland Increased Stake in Nestle Nigeria Plc to 66.3%

Despite growing economic uncertainties amid a decline in economic productivity, Nestlé S.A, Switzerland, the parent company of Nestlé Nigeria Plc, has continued to up its ownership percentage in Nestle Nigeria.

Nestlé S.A, Switzerland now owned 66.3 percent of the Nigerian subsidiary.

This was after the company purchased additional shares of 229,697 units in Nestle Nigeria to bring the company’s total purchase from August 20 to date to 977,744 units.

Nestlé S.A has now spent a total sum of N1.17 billion to buy shares in three transactions in its Nigerian subsidiary in 22 days.

A break down of the transactions revealed that the purchase consideration for the 229,697 additional units of Nestlé Nigeria shares at an average price of N1,249.65 per unit is put at N287 million.

Experts said Nigerian shareholders were willing to sell because of the ongoing economic hardships being witnessed in the country.

The National Coordinator, PSAN, Boniface Okezie, said, “It is expected for the foreigners to take the holdings since Nigerian shareholders are offering to sell and no domestic investor has the ability to purchase.

“I don’t see it as a mission to take over the company; I believe it is a morale booster to the Nigerian company. The regulators are watching and they will react if they are crossing the threshold.”

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Stock Market

Nigerian Stock Exchange to Benefit From Low Valuations – Experts



stock bear

Stock Market to Benefit From Low Valuations – Experts

Investment experts have said the Nigerian Stock Exchange would benefit from low stock valuations despite the present mixed performance following sell pressure in banking stocks.

The experts hinged their analysis on the usual investors’ search for undervalued yields with strong fundamentals.

The NSE market capitalisation expanded by N14 billion last week but the All Share Index declined by 0.08 percent 25,572.57 basis points, highlighting the mixed performance of the Exchange amid growing economic uncertainties.

The analysts at Cordros Capital, in the review of the week performance, said the bourse could see a positive performance in the long run over compelling valuations while advising investors to exercise cautions when buying given current uncertainties.

They stated: “In the absence of a positive catalyst, and given the still uninspiring macro story, we guide investors to trade cautiously in the short term.

“However, we expect the market might benefit over the longer term on compelling valuations and as investors seek alpha-yielding opportunities in the face of negative real returns in the fixed income market.”

Experts at Afrinvest Securities, another Lagos-based investment banking company, said the new week would see investors taking profit, a situation they said could weigh on the Exchange and plunge stock value.

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