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Guaranty Trust HoldCo Plc Commemorates Listing On Nigerian Exchange

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L – R shows Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited presenting a replica of NGX Closing Gong to Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

…NGX Closing Gong Ceremony to Commemorate the Listing of GT Holding Company Plc

Olushola Okunlade Writes

Guaranty Trust Holding Company Plc (GT HoldCo Plc) commemorated the listing of its shares on Nigerian Exchange (NGX) with a Closing Gong Ceremony on Tuesday, 13 July 2021.

The event also featured the reveal of the company’s new brand identity to capital market stakeholders and members of the general public.

Speaking at the event, the Chief Executive Officer, NGX, Mr. Temi Popoola, CFA stated, “We are excited to welcome GTCO Plc and to congratulate the Board and Management on a successful restructuring.

Left–Right: Ibrahim Hassan, Non-Executive Director, GTBank Plc; Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited; Osaretin Demuren, Chairman, GTBank Plc; Miriam Olusanya, Executive Director, GTBank Plc and Seyi Osunkeye, Non- Executive Director, NGX Limited during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

Given the recent completion of demutualisation of the Exchange and the emergence of our new structure, we see many similarities between our organisations, particularly our outlook on the use of technology to advance business operations; the burgeoning opportunities in the retail market; and the importance of good governance in the corporate space. 

Today, we reiterate our commitment to being a trusted partner to GTCO and other listed companies and issuers as we continue to build a platform that allows our listed companies, investors and other stakeholders to maximise value in our market.”

On his part, the Group Chief Executive Officer, GTCO Plc, Mr. Segun Agbaje, noted that, “On behalf of the Board and Management of GTBank and the newly formed GTCO, I must thank NGX for its unwavering support in listing GTCO on The Exchange. At GTCO, we are very excited about the opportunities that have opened up to us with this restructuring, particularly because diversifying our income base has always been a major priority. As we venture into this new phase, we look forward to leveraging technology and introducing new business lines – including payments, asset management and more – that go beyond the needs of institutional or wholesale clients to improve retail clients’ access to the financial markets.”

Left–Right: Temi Popoola, CFA, Chief Executive Officer, Nigerian Exchange (NGX) Limited presenting a replica of NGX Closing Gong to Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc; during a Closing Gong Ceremony to commemorate the listing of GTCO on NGX on Tuesday, 13 July 2021.

Also present on the trading floor of NGX to sound the gong and bring the day’s trading to a close were Mrs. Osaretin Demuren, Outgoing Chairman, GTBank Nigeria; Mr. Ibrahim Hassan, Non-Executive Director, GTBank Nigeria; Mr. Hezekiah Oyinlola, Non-Executive Director, GTBank Nigeria; Mrs. Cathy Echeozo, Former, Executive Director, GTBank Nigeria and Chairperson, NGX Regulation Limited; Mrs. Miriam Olusanya, Executive Director, GTBank Nigeria; Mr. Babajide Okuntola, Executive Director, GTBank Nigeria; Mr. Seyi Osunkeye, Non-Executive Director, NGX Limited; Mr. Kamarudeen Kareem Oladosu, Non-Executive Director, NGX Limited; Mr. Yomi Adeyemi, Non-Executive Director, NGX Limited and Mr. Jude Chiemeka, Divisional Head, Trading Business, NGX Limited.

It would be recalled that GTCO officially listed its shares on NGX on 28 June 2021 following the restructuring of Guaranty Trust Bank (GTB) Plc. At the time, the shares of GTB were officially delisted from the market, and GT HoldCo’s entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each were listed on the bourse.

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Popoola Commends Access Holdings’ Contribution To Nigeria’s Growth Story

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Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today

…reiterates The Exchange’s commitment to remain a partner of choice

Olushola Okunlade Writes

The Chief Executive Officer, Nigerian Exchange Limited (NGX), Temi Popoola, commended Access Holding Plc’s contribution to the Nigerian growth story and emphasized NGX’s commitment to collaborating with institutions driving growth in the Nigerian economy.

This was made known during the Closing Gong Ceremony hosted by NGX to commemorate the Access Holdings’ successful restructuring into a holding company structure and the listing of 35,545,225,622 ordinary shares of Access Holdings Plc on NGX on Thursday, 28 April 2022.

NGX CEO further noted that the Exchange is proud to be part of the progress that Access Holdings has successfully achieved over the past 20 years while assuring that the company will find a worthy partner in the Exchange as it commences its new journey”.

Speaking at the event, Mr. A.B. Mahmoud, SAN, OON, Chairman, NGX, congratulated the Board of Directors and Executive Management of Access Holdings and the parties to the transaction, Chapel Hill Denham Advisory Limited, Coronation Securities Limited, Aluko & Oyebode, and Africa Law Practice NG & Company. He said, “NGX has emerged from a recent restructuring and is better positioned to support our stakeholders in their quest to raise long-term capital”.

Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today
Left-Right: Abubakar B. Mahmoud, SAN, OON, Chairman, Nigerian Exchange Limited (NGX); Mr. Temi Popoola, Chief Executive Officer, NGX; Dr. Herbert Wigwe, Group Managing Director/Chief Executive Officer (GMD/CEO), Access Holdings Plc; Mr. Bababode Osunkoya, Chairman, Access Holdings Plc at the Closing Gong Ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited on Thursday, April 28, 2022, in Lagos.
Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today
Left-Right: Abubakar B. Mahmoud, SAN, OON, Chairman, Nigerian Exchange Limited (NGX); Mr. Temi Popoola, Chief Executive Officer, NGX; Ms. Bolaji Agbede, Executive Director, Access Holdings Plc; Dr. Herbert Wigwe, Group Managing Director/Chief Executive Officer (GMD/CEO), Access Holdings Plc; Mr. Bababode Osunkoya, Chairman, Access Holdings Plc; and Mr. Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited on Thursday, April 28, 2022, in Lagos.

In addition, Mr. A.B. Mahmoud, SAN, OON, said, “The Exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market, and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion. We welcome Access Holdings Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out-of-the-box ideas financial products that will dimension the next curve for the capital market”.

Delivering his remarks, Chairman, Access Holdings Plc, Mr. Bababode Osunkoya, said, “The significance of this event as our first external engagement as Access Holdings Plc is not lost on us. Access Holdings Plc is an evolutionary expression for us which signifies our moving away from what was known as Access Bank into a financial institution. We acknowledge the impact of our collaboration with The Exchange over the years and we look forward to continuing this mutually beneficial partnership to take Nigeria and Africa to the world”.

On his part, Group Chief Managing Director/Chief Executive Officer, Access Holdings Plc, Dr. Herbert Wigwe, thanked The Exchange for its remarkable contribution to the Corporation’s story. He said, “In 2004, following the Central Bank of Nigeria mandated recapitalization initiative, Access Bank came to the Exchange on its maiden journey to raise capital. NGX created the platform through which we raised capital and quickly consummated one of the largest mergers in the history of this Country.  Today’s event marks a major milestone for us as we evolve from a traditional banking institution into a full-fledged financial services provider that would create an ecosystem of financial services for all Nigerians to benefit from. This is the Exchange that made Access Bank and we thank the Exchange for its continued support over the years”.

Also present on the Trading Floor of NGX to sound the gong and bring the day’s trading to a close were Mrs. Fatima Bello-Ismail, Independent Non-Executive Director, Access Holdings Plc; Ahonsi Unuigbe, Non-Executive Director, NGX; Mr. Oluseyi Kumapayi, Non-Executive Director, Access Holdings Plc; Mr. Seyi Osunkeye, Non-Executive Director, NGX; Mr. Kamarudeen Kareem Oladosu, Non-Executive Director, NGX; Mr. Yomi Adeyemi, Non-Executive Director, NGX.

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Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today

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Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today

Closing Gong Ceremony to commemorate the restructuring and listing of Access Holdings Plc

Olushola Okunlade Writes

Access Holdings Plc held its closing gong ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited on Thursday, April 28, 2022, in Lagos.

Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today
Left-Right: Abubakar B. Mahmoud, SAN, OON, Chairman, Nigerian Exchange Limited (NGX); Mr. Temi Popoola, Chief Executive Officer, NGX; Ms. Bolaji Agbede, Executive Director, Access Holdings Plc; Dr. Herbert Wigwe, Group Managing Director/Chief Executive Officer (GMD/CEO), Access Holdings Plc; Mr. Bababode Osunkoya, Chairman, Access Holdings Plc; and Mr. Seyi Osunkeye, Non-Executive Director, NGX during the Closing Gong Ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited on Thursday, April 28, 2022, in Lagos.
Access Holdings Plc Held Closing Gong Ceremony To Commemorate Restructuring And Listing At NGX Today
Left-Right: Abubakar B. Mahmoud, SAN, OON, Chairman, Nigerian Exchange Limited (NGX); Mr. Temi Popoola, Chief Executive Officer, NGX; Dr. Herbert Wigwe, Group Managing Director/Chief Executive Officer (GMD/CEO), Access Holdings Plc; Mr. Bababode Osunkoya, Chairman, Access Holdings Plc at the Closing Gong Ceremony to commemorate the restructuring and listing of Access Holdings Plc at Nigerian Exchange Limited on Thursday, April 28, 2022, in Lagos.

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Market Remain Cautious, NSE All-Share Index Green  

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ForexTime Limited

Market Remain Cautious, NSE All Share Index Green  

Written on 27/04/2022 by Lukman Otunuga, Senior Research Analyst at FXTM 

Global stocks were wrapped in caution on Tuesday as investors nursed the nasty hangover from the previous day’s rout as fears over the impact of China’s new lockdowns lingered in the air.  

Yesterday, Wall Street was thrown a lifeline later in the session after Twitter agreed to be bought by billionaire Elon Musk. In the currency space, the mighty dollar climbed to its highest level since March 2020 thanks to risk aversion and expectations over the Fed raising rates by 50 basis points next month. There was no love for gold despite the risk-off mood, with the precious metal securing a daily close below $1900, while oil tumbled below $100 amid worries about the global energy demand outlook. Interestingly, Nigerian Stock markets remain in the green with the NSE All-Share Index up over 13% since the start of 2022. The economic calendar remains relatively quiet over the next few weeks but in May, much attention will be on the inflation report, latest GDP, and CBN meeting which will all be on the same day – Tuesday 24th of May according to Bloomberg. 

Caution is likely to remain the name of the game this week with sentiment fragile as strict lockdowns in China, concerns around a global slowdown, Fed rate hike fears, and geopolitical risks leave investors on edge. On the data front, there are a couple of key economic data releases from major economies, especially in the United States. Tech titans will be publishing their earnings this week with Microsoft and Google’s parent company Alphabet announcing their results on Tuesday after the market close. With so much going on, this promises to be another eventful and potentially volatile week for financial markets. Yesterday’s wild movements across the FX, commodity, and equity space are testament to this. 

Oil wobbles at around $100 

Oil benchmarks pushed back above $100 today after experiencing a sharp selloff in the previous session, due to fears that lockdowns in China will hit energy demand in the world’s second-largest economy. On top of this, an appreciating dollar is adding extra pressure on the global commodity with Brent shedding roughly 1.5% this month. That said, geopolitical risks may limit downside losses, especially if the United States and its allies consider expanding sanctions on Russian oil imports. It is worth keeping in mind that the International Monetary Fund (IMF) raised Nigeria’s growth forecast on the back of higher oil prices. However, if oil bulls fail to deliver and the commodity continues to weaken, expectations may fail to match reality.  

On the data front, it may be wise to keep a close eye on the Energy Information Administration (EIA) report published on Wednesday. Another weekly drawdown in crude inventories could lend oil bulls a helping hand.  

Dollar bulls charge on… 

The dollar kicked off the week by appreciating against almost every single G10 currency as concerns over the economic impact of China’s strict lockdown sent investors rushing towards safety.  

Market expectations over the Federal Reserve aggressively raising interest rates also empowered dollar bulls, propelling the dollar index (DXY) to a fresh two-year high. There are several key economic data points over the next few days which are likely to inject the currency with renewed vigor. US consumer confidence, Q1 GDP, and the PCE deflator will all be published, ahead of the key FOMC meeting next week. Should the data further reinforce market expectations over the Fed aggressively raising interest rates, the dollar could be set to appreciate further? 

Commodity spotlight – Gold  

After trading within a range for many weeks, gold finally experienced a solid breakdown below $1920 support with bears securing a daily close beneath the psychological $1900 level. The precious metal struggled to shine against a mighty dollar and aggressive Fed rate hike bets. With the greenback on a tear and potentially receiving further support in the week ahead, this could spell more trouble for gold despite the market caution and risk aversion.  

Looking at the technical picture, sustained weakness below $1920 could signal a decline towards $1880 and $1850. Should $1900 prove to be reliable support, prices could retest $1920. A move back above this level will send prices into the prior range with the first level of resistance at $1960. 

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