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FG To Partner NGX On Climate Disclosure, Data

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NGX Year End Closing Gong Ceremony

…Federal Government is set to partner NGX on climate disclosure, data

Olushola Okunlade Writes

The Federal Government of Nigeria through the Minister of State for Environment, Chief Sharon Ikeazor, says it will continue to collaborate with Nigerian Exchange Limited (NGX) to build a framework that will help issuers navigate climate disclosure and ultimately improve the climate data available to the investment and finance community.

The Minister of State for Environment stated this during the Digital Closing Gong Ceremony hosted by NGX to mark the end of trading for the year 2021 on Friday, December 31, 2021.

Ikeazor noted that NGX has played an exemplary role in Nigeria’s commitment to mitigating the effects of climate change. She added that climate change is a serious and long-term threat to which “Nigeria has continued to show commitment to the goals of the Paris Agreement on Climate Change with our revision of the Nationally Determined Contributions (NDCs) pre-COP 26 and also the recent accent of the Climate Change by Mr. President which provides, amongst other things, the mainstreaming of climate changes in the country and the establishment of Council on Climate Change to be chaired, Mr. President”.

With the step taken immediately after COP26, Nigeria has further demonstrated its commitment towards the Paris Agreement on Climate Change. As part of measures to comply with the National Determined Contributions (NDC) in emissions reduction to climate change in Nigeria, the Federal Government launched the Nigeria Deep Decarbonization Project”, she explained.

From Up to Down, Left-Right: Honourable Minister of State for Environment, Chief Sharon O. Ikeazor; Chief Executive Officer, Nigerian Exchange Limited (NGX), Mr Temi Popoola, CFA; Ag Head Business Support Services Division\General Counsel| Head Legal Services (NGX), Mrs Irene Robinson-Ayanwale and Divisional Head, Trading Business, NGX, Mr Jude Chiemeka during the Digital Closing Gong held in honour of the Minister as she brings 2021 trading activities to a close, on 31st December 2021.

The Minister further added that investors are increasingly working together in response to climate change and added that the Federal Government will continue to engage NGX on climate disclosure and data. “I hope there would be a continuous collaboration between Nigerian Exchange Limited and the Federal Ministry of Environment to build a framework that will help issuers navigate climate disclosure, associated engagement with their shareholders, and ultimately improve the climate data available to the investment and finance community. Partnership with NGX will provide investors with important new tools to enable capital reallocation”, the Minister said.

In welcoming the Honourable Minister, the Chief Executive Officer, NGX, Temi Popoola, said, NGX remains resolute in its commitment to promoting sustainable finance because it recognises that urgent action is required to combat climate change and its impact as incorporated in the Paris Agreement on Climate Change and Goal 13 of the Sustainable Development Goals (SDGs).

Popoola said, “We are committed to fostering the growth of sustainable financial products which integrate the financial risks and opportunities associated with climate change and other environmental challenges. NGX has shown a strong commitment to sustainable finance over the years. In 2016, NGX collaborated with the Ministry of Environment and the Debt Management office to deepen the Green Bond market. This effort led to the issuance of the maiden N10.69 billion ($25.8 million) 13.48 per cent 5-year green bond in 2017 to fund projects to develop renewable energy. The second tranche, N15 billion ($36.1 million) 14.5 per cent 7-year Green Bond was issued in June 2019 and was over-subscribed.

In 2017, NGX played host to a conference on Sovereign Green Bonds which served as a strategic engagement between the Federal Government and financial market players on the prospects of investing in sustainable development.

Capital Market

BUA Foods Engages Capital Market Stakeholders

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BUA FOODS PLC ENGAGES CAPITAL MARKET STAKEHOLDERS - TUESDAY, 18 JANUARY 2022

BUA FOODS PLC ENGAGES CAPITAL MARKET STAKEHOLDERS – TUESDAY, 18 JANUARY 2022

Olushola Okunlade Writes

BUA Foods Plc has disclosed its engagement with the capital market on Tuesday, 18 January 2022.

The engagement is to commemorate the listing of BUA Foods Plc on NGX Main Board, Mr. Abdul Samad Rabiu, CON, Chairman BUA Foods Plc, in the company of the Acting Managing Director, BUA Foods Plc, Engr Ayodele Abioye, MNSE, and other Executive and Non-Executive members of BUA FOOD Plc, will address market stakeholders with a Facts Behind the Listing presentation and they will be honoured with a Closing Gong ceremony.

Topic: Facts Behind the Listing – BUA Foods set to commemorate the listing of BUA Foods Plc on NGX Main Board, Executive and Non-Executive members of BUA Foods Plc will address market stakeholders with a Facts Behind the Listing presentation time

Jan 18, 2022 10:00 AM in West Central Africa

Join BUA Foods Plc, NGX for the Facts Behind the Listing Presentation via Zoom at:

Time: 10:00am

Dial-in: https://NGX-FBL-BUA

Passcode: 617407

You can also join the Closing Gong ceremony at

Time: 2:05pm

On YouTube (ngxgroup) and Instagram Live (@ngxgrp

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Ronchess Global Resources Announces Appointment And Resignation Of Directors

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#ronchessglobalresources

…NOTIFICATION ON THE APPOINTMENTS AND RESIGNATION OF DIRECTORS

Olushola Okunlade Writes

Ronchess Global Resources Plc has notified the Nigerian Exchange Limited and investors of the company of the appointment and resignation of some members of the Board of Directors at the company.  

Ronchess Global Resources Limited, a leading provider of traffic solution, construction and procurement services in Nigeria. They also offer excellent services in road construction, private, commercial, and municipal buildings construction, clear view fence, and parameter fence construction.

According to the disclosure signed by Barr. Chris Egba Oruete Company Secretary stated appointments of Mr. Adeolu Adeboye – Chairman/ Non-Executive Director, Captain Niyi Ogunnowo – Vice Chairman / Non-Executive Director, Mr. Adebosin Temitope Ernest – Non-Executive Director while the resignation of Miss. Ladipo Evelyn Tolulope – Non-Executive Director takes effect from January 8, 2022, and wished the board and management of Ronchess the very best in the company’s future endeavor.

In accordance with the Nigerian Exchange Limited (NGX) Rule Book, Ronchess Global Resources Plc notify the NGX and the investing public of the appointment and resignation of directors by the Board of Directors of Ronchess Global Resources Plc effective January 10, 2022.

Ronchess Global Resources Plc Announces Appointment And Resignation Of Directors

PROFILE OF THE DIRECTORS ARE LISTED BELOW

Mr. Adeolu Adeboye – Chairman
Adeolu Adeboye is a graduate of Software Engineering from the University of Hertfordshire United Kingdom. He practiced in this field for ten years in the United Kingdom before moving back to Nigeria. A seasoned entrepreneur who has created many businesses. His areas of expertise include Insurance, Retail, Power, and Construction. Adeolu Adeboye is an entrepreneur with experience in running diverse business interests successfully.

Captain Niyi Ogunnowo – Vice Chairman
Capt. Niyi Ogunnowo has experience spanning over 20 years in IT Leadership and the transportation industry. Prior to his appointment as Vice Chairman, he was the pioneer Chairman of Ronchess and as well an Airline Captain at Air Peace Airlines Limited. He also worked in various capacities as a consultant to various organizations in the USA and Nigeria. He has attended various training in Project Management, Implementation of Business Solutions, and Human Developments. He holds many high-profile certifications such as Oracle Certified Professional (OCP), Airline Transport Pilot License, B-737 (Classic) TRI EASA Certification, Microsoft Certified Professional (MCP) and Microsoft Certified Small and Medium Business Specialist. Niyi graduated with a Bachelor of Arts (Magna Cum Laude) in Computer Information Systems from Rutgers University Newark, NJ USA (2016). He also holds a Master of Science in Busines
and Information Systems from New Jersey University of Technology (NJIT) Newark, NJ USA (2008).

Mr. Tope Adebosin – Non-Executive Director
Tope Adebosin is a seasoned professional in management and entrepreneurial advisory and a Fellow of the Institute of Management Consultants. Tope has brought his wealth of experience in management to bear as a Business Development Consultant to companies he has worked for. With AB. Tech degree gained in Biochemistry and Food Technology, he combines his broad knowledge and technical know-how with his management competencies to offer dynamic and critical services, as a Certified Management Consultant, to many reputable organisations in the food and hospitality sector such as The Yellow Chilli Restaurant and Carliza Hotel. Previously Tope ascended from the position of Management trainee at DN Meyer Plc to the position of National Technical Sales Manager. He is currently a partner at Topsenam Consulting, a business consultancy firm, to which he brings his multifaceted skills and experience spanning over 20 years.

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NGX Reveals Results Of Market Indices Review

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NGX Reveals Results Of Market Indices Review

Olushola Okunlade Writes

NGX Reveals Results of Review on Market Indices

Nigerian Exchange Limited (NGX), has announced the results of its full year market index review for the following indices – the NGX 30, NGX Lotus Islamic, NGX Pension, Corporate Governance Index, Afrinvest Bank Value Index, Afrinvest Dividend Yield Index, Meristem Growth Index, Meristem Value Index; and the five Sectoral Indices of The Exchange – NGX Banking, NGX Insurance, NGX Industrial, NGX Consumer Goods and NGX Oil & Gas.

The review has led to the entry and exit of some companies from several indices which took effect when the market opened on Tuesday, January 4, 2022.

Below are the incoming and exiting companies in the various indices:

Indices TitleIncomingExiting
  NGX 30 IndexOando PlcNascon Allied Industries Plc
   
NGX Consumer Goods IndexNoneNone
   
NGX Banking IndexNoneNone
   
NGX Insurance IndexNoneNone
   
NGX Industrial IndexTripple Gee and Company PlcNone
   
NGX Oil & Gas IndexNoneNone
   
NGX Pension IndexNoneNone
   
NGX Lotus Islamic Index  NoneArdova Plc, Unilever Nigeria Plc
   
Corporate Governance IndexNoneNone
   
Afrinvest Bank Value IndexUnited Bank for Africa Plc.FCMB Plc
   
Afrinvest Div Yield IndexGuinness Nig. Plc, Vitafoam Nig. Plc Tripple Gee and Company PlcAIICO Insurance Plc, Conoil Plc,       Dangote Sugar Refinery Plc, Fidelity Bank Plc, United Capital Plc
   
Meristem Growth IndexDangote Cement Plc, Glaxo Smithkline Consumer Nig. Plc, Guinness Nig. Plc, Livestock Feeds Plc Total Energies Marketing Nigeria PlcNestle Plc, Stanbic IBTC Holdings Plc
   
Meristem Value IndexCadbury Nigeria Plc Eterna Plc ·       Nascon Allied Industries Plc       Sterling Bank Plc. Lafarge Africa PlcArdova Plc, Cap Plc, Custodian Investment Plc, FBN Holdings Plc, Honeywell Flour Mill Plc, United Capital Plc, Unilever Nigeria Plc
  

The indices were developed to allow investors to follow market movements and properly manage investment portfolios. Designed using the market capitalization methodology, the indices are re-balanced on a semi-annual basis on the first business day in January and in July.

The Nigerian bourse began publishing the NGX 30 Index in February 2009 with index values available from January 1, 2007. On July 1, 2008, the NGX developed five sectoral indices with a base value of 1,000 points, designed to provide investable benchmarks to capture the performance of specific sectors. The sectoral indices comprise the top fifteen most capitalized and liquid companies in the Insurance and Consumer Goods sectors; the top ten most capitalized and liquid companies in the Banking and Industrial Goods sector; and the top seven most capitalized and liquid companies in the Oil & Gas sector. 

In July 2012, the Nigerian bourse launched The NGX Lotus Islamic Index (NGX LII) which consists of companies whose business practices are in conformity with Shari’ah Investment Principles, with the aim of increasing the breadth of the market and creating an important benchmark for investments as the alternative ethical and noninterest investment space widened. The companies that appear on the Islamic Index have been thoroughly screened by Lotus Capital Halal Investment, in accordance with a methodology approved by an internationally recognized Shari’ah Advisory Board comprising of renowned Islamic scholars. 

What To Know About NGX

The Nigerian Exchange Limited services the largest economy in Africa, and is championing the development of Africa’s financial markets. The Exchange offers listing and trading services, licensing services, market data solutions, ancillary technology services, and more. The Nigerian Exchange Limited continues to evolve to meet the needs of its valued customers, and to achieve the highest level of competitiveness. It is an open, professional and vibrant exchange, and the Entrepreneurial Growth hub of Africa. The Nigerian Exchange Limited aspires to be Africa’s foremost securities exchange, connecting Nigeria, Africa and the world.

The compiler of the indices maintains the right to modify the circulated selection above in connection with any mergers, takeovers, suspension or resumption of trading or any other company structure changes during the period before the effective date of the annual review.

NGX, Greenwich Securities, Africa Prudential Collaborate on Retail Investor Workshop

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