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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.

Capital Market

NGX Holds Inaugural Capital Markets Conference Today

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NGX Holds Inaugural Capital Markets Conference

…as Prof. Yemi Osinbajo, Others laud digitization efforts

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) has, at the maiden edition of the capital markets conference, called for increased collaboration among key players in the nation’s economy towards driving productive investments that would accelerate an elevated and digitized capital market.

Themed the “The Future Ready Capital Markets; Innovating for Nigeria’s Sustainable Recovery the inaugural NGX Capital Markets Conference, which was held at Transcorp Hilton, Abuja, on Tuesday, 30th November, brought together leading policymakers, financial experts, business leaders, investors, international development partners, and regulators, led by the Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing for the capital market.

Speaking after the conference, the Chief Executive Officer, NGX, Mr. Temi Popoola expressed his excitement about the deliberations, outcomes and agreed way forward by key speakers and panelists. He said,  as a major propeller of the economy, we are proud to be at the forefront of this milestone which is defining moment for Nigeria’s finance sector and the capital market specifically. The long list of key stakeholders from the public and private sector in attendance at today’s conference shows how to open NGX is to leveraging relationships and partnerships to advance its digital transformation agenda”.

“Taking this forward, NGX will continue to deepen and increase access to financial services for Nigeria through technology while championing the infrastructural development and the economic growth of the countryTemi assured.

NGX Holds Inaugural Capital Markets Conference
Left-Right: Alhaji Abdul Samad Rabiu, Chairman/CEO of BUA Group; Mr. Abubakar Balarabe Mahmoud, OON, SAN; Prof Yemi Osinbajo Vice President of Nigeria; and Mr. Temi Popoola CFA, CEO Nigerian Exchange Limited.

Held as a hybrid event, the inaugural capital market conference featured a long list of policy makers and business leaders across the public and private sectors in the country, including the Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, who headlined the conference; Chairman, BUA Group, Alhaji Abdul Samad Rabiu, CON, Chairman of the Conference; Senate President, Federal Republic of Nigeria, Senator, Ahmad Ibrahim Lawan Ph.D, CON, represented by the Senator Ibikunle Amosun, Chairman, Senate Committee on Capital Market; Speaker, Federal House of Representatives, Federal Republic of Nigeria, Honourable Femi Gbajabiamila; Chairman, House Committee on Capital Markets, Federal House of Representatives, Federal Republic of Nigeria, Honourable Babangida Ibrahim; Dr. Kayode Fayemi, Executive Governor, Ekiti State and Chairman Nigeria’s Governors Forum; Mr. Godwin Obaseki, Executive Governor, Edo State; Malam Nasir El-Rufai, Executive Governor, Kaduna State; Group Chairman, Nigerian Exchange Group Plc, Otunba Abimbola Ogunbanjo; Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, OON; Mr. Aigboje Aig-Imoukhuede, CON, Chairman, Coronation Capital; Mr. Oscar N. Onyema, OON, Group Managing Director/Chief Executive Officer, NGX Group Plc;  Mrs. Cathrine Echeozo, Director, Guaranty Trust Holding Company (GTCO); and the Honourable Minister of Finance, Budget, and National Planning, (Dr) Zainab Ahmed,  among others.

While delivering his address as Keynote speaker at the conference, Vice President, Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, lauded the digitization efforts of NGX and urged The Exchange to continue to collaborate with all government agencies and regulators, such as the Central Bank, the Securities and Exchanges Commission (SEC) and National Pension Commission (PENCOM) amongst others to ensure that the excessive risk premium of the capital market are abated and foreign investors are strongly reassured of foreign investment mechanisms and other regulations that would help them channel their resources in and take them out with the least possible constraints. As a government, we have shown our commitment to the growth of NGX and we want NGX to see itself as a critical player, even in negotiations on Africa-wide initiatives such as the Africa Continental Free Trade Area (AFCTA). The macroeconomic environment and the regulatory regime present unprecedented opportunities, as heralded by the inaugural Capital Markets Conference,  to bring in more retail investors, deepen the market and positively impact the livelihoods of Nigerians” Osinbajo said.

Also speaking at the conference,  Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, said the Nigerian capital market has the capacity to drive economic development and wealth creation through innovation and digitalization. “As shown by the conclusion of diverse speakers and panelists, an elevated capital market can strongly contribute to the government’s developmental agenda especially around the improvement of the economy”, Mahmoud concluded

The inaugural NGX Capital Markets Conference is the first in the series of events to catalyse the capital market of the future, that sustainably leverages technology to champion the infrastructural development and the economic growth of the country.

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Capital Market

NGX Partners BUA Group, CSCS, Other Private Sponsors To Host Capital Markets Conference

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NGX CONFERENCE

…Theme “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX), led by its Chairman, Mr. Abubakar Balarabe Mahmoud, OON, SAN, and Chief Executive Officer, Mr. Temi Popoola, CFA, is on course to further champion the reawakening of the capital market from the effect of the pandemic.

To achieve this, NGX, alongside its sponsors BUA Group, Central Securities Clearing System Plc (CSCS), and NG Clearing, is putting together the inaugural edition of the NGX Capital Markets Conference with the theme, “The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”.

The flagship hybrid event, which will take place on Tuesday, 30 November 2021, at Transcorp Hilton Abuja, will be attended by the Vice President of the Federal Republic of Nigeria, His Excellency, Professor Yemi Osinbajo, SAN, GCON; the Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila; and a host of key stakeholders, industry players, and top government officials.

Speaking about the importance of the conference, Mr. Popoola, said, “The Nigerian capital market plays a critical role in developing the Nigerian economy and, in proxy, the African economy. The challenges the capital market encountered during the pandemic have created an opportunity to drive sustainable wealth creation and economic development through policies that foster innovation and digitalization, addressing severe societal challenges.

NGX is strategically positioned to invite stakeholders in the capital market to form partnerships that will foster the growth and development of the Nigerian economy.

“The Future Ready Capital Market: Innovating for Nigeria’s Sustainable Recovery”

Chairman/CEO of BUA Group, Abdul Samad Rabiu, CON, said, “The initiative of Nigerian Exchange Limited to engage key stakeholders in the capital market is a commendable step to revitalizing the economy and positioning it to attract greater global flows for sustainable economic recovery. We at BUA Group applaud NGX for this great initiative and are pleased to partner in taking this giant stride to chart a path for the future of a resilient Nigerian economy”.

Also commenting, Haruna Jalo-Waziri, MD/CEO, CSCS said, “I believe that yielding partnerships in the capital market will better strengthen the industry, create opportunities for more players, and support innovation and digitalisation to better drive the Nigerian economy.”

In compliance with COVID-19 protocols, in-person attendance at the conference is by invitation only. Interested persons who wish to attend online via zoom and YouTube can register at https://bit.ly/ngx-cmc2021.

Media partners for the event include CNBC Africa, Proshare, Business Day, and Nairametrics.

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Capital Market

NGX Holds Media Parley Ahead Of Capital Market Conference, Task FG, Private Sector On Capital Market For Infrastructure Development

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Left-Right: Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos on Thursday, November 18, 2021.

Olushola Okunlade Writes

The Nigerian Exchange Limited (NGX) has urged the Federal Government and the private sector to embrace the capital market for long-term funds to address the country’s infrastructure deficit.

Chief Executive Officer of NGX, Mr. Temi Popoola, said this at a news conference on Thursday in Lagos in preparation for the Exchange Capital Markets Conference.

Popoola said the government and the private sector must harness the opportunities in the country’s capital market for infrastructure development and employment, instead of depending on external borrowings.

Popoola noted that the challenges facing the country in terms of infrastructure would be resolved through capital market instruments.

“Most countries have used the capital market to boost their infrastructure. The capital market is the appreciative way of resolving our infrastructural issue.

“For us at the Exchange, we want to push this narrative, let’s bring the capital market to the center of the discussion. This is another tool we can deploy to address many of these challenges,” he said.

He said the NGX would continue to engage the Federal Government, the private sector, policymakers, and other stakeholders on the inherent opportunities in Nigeria’s capital market. Popoola said the Exchange would remain committed to investor education to boost participation in the market.

According to him, the NGX will be holding its inaugural Nigerian Capital Markets Conference on November 30, 2021.

L – R shows Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos – November 18, 2021
Left-Right: Mr. Jude Chiemeka, Divisional Head, Trading Business, Nigerian Exchange Limited (NGX); Mrs. Irene Robinson-Ayanwale, Ag. Divisional Head, Business Support Services/General Counsel|Head, Legal Services, NGX; Mr. Temi Popoola, CFA, Chief Executive Officer, NGX; and Mrs. Chinyere Joel-Nwoekeoma, Chairman, Capital Market Correspondents Association of Nigeria (CAMCAN) during a press briefing in preparation for NGX Capital Markets Conference in Lagos on Thursday, November 18, 2021.

He said the conference would bring together policymakers, government, financial experts, business leaders, investors, international development partners, regulators, and other stakeholders, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing.

Popoola said: “This is going to be the first of its kind in the country. The event will address what the market can do for the government, private sector, and the opportunities the market offers.” He also stressed the need for government policy to drive and revive the capital market.

“Some of the rules that govern the market today need to be reviewed,” Popoola said.

He noted that retail investors in the market at the moment stood at three to four million, which he said was still very low when considering the country’s 200 million population.

Mr. Jude Chiemeka, Divisional Head, Trading Business, NGX, said asset-backed securities could be harnessed by both government and private sector to address the country’s infrastructure needs.

Chiemeka said the conference would highlight how investors, more importantly, issuers can utilise the capital market to raise funds. He said the government could focus on the green bond, Sukuk, in addressing the infrastructural gap.

“The Eurobond the government has raised or going to do, we do have a lot of assets in the domestic economy that can actually be securitized, which government can use to finance the infrastructural needs.

“Our focus will also be around diversification of the capital market. For a long time our market had a lot of international flows and each time we have global financial crises or foreign exchange issues as we are having now, the market takes a huge hit.

“The PFAs have assets of over N30 billion and with proper development, we should be able to have, like other markets, control 70 percent of domestic flows. We should be able to launch our derivatives market, and with this instrument, we can attract the millennium due to their high-risk appetite,” Chiemeka said.

He stressed that the capital market, apart from solving problems, also created opportunities that would help in employment generation. He noted that the economy would not witness the needed growth and development without the active involvement of the capital market.

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