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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

NGX Holds Biggest Capital Markets Awards On December 6, 2022

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NGX Holds Biggest Capital Markets Awards On December 6, 2022

…NGX Made of Africa Awards of The Year

Olushola Okunlade Writes

The NGX Made of Africa Awards is set to hold on Tuesday, 6 December 2022 in Lagos.

The hybrid event themed “Innovation in Capital Markets: The Panacea for Exponential Growth”, will bring together key stakeholders in the capital market.

The Made of Africa Awards is designed to recognise organisations and individuals within the capital market ecosystem that demonstrate exceptional performance in value delivery and sustainable impact and act as key drivers in strengthening the Nigerian and African capital markets. The Awards will also reward adherence to high ethical standards, compliance with the rules and regulations of the Exchange, and other applicable laws and regulations.

Register HERE to join the event virtually.

 

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NGX Celebrates CIS On 30th Anniversary, Reopens Trading Floor

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NGX Celebrates CIS On 30th Anniversary, Reopens Trading Floor

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) hosted the Chartered Institute of Stockbrokers (CIS) to Closing Gong ceremony to commemorate the Institute’s 30th anniversary alongside the reopening of the trading floor of the market on Monday, 7 November 2022.

The Chairman, NGX, Abubakar Mahmoud, SAN, OON, whilst giving his remarks congratulated the Institute for its contribution to upholding integrity and ethics in the capital market while promoting and protecting the interests of the stockbroking community. He also thanked stockbrokers for their cooperation with NGX, attributing the successful record of trading with zero downtime to a combination of NGX’s investment drive in technology and the collective agility and collaboration between the Exchange and the stockbroking community.

He said, “Thirty years of excellence is no small feat and at the Exchange, we recognise the significance of CIS to the capital market as it engenders commitment to the highest standards of service and professionalism. Its advocacy initiatives and support for the stockbroking and investment practice in Nigeria is notable and worthy of celebration.

“Moving forward as the Exchange, we plan to leverage our shared history and cordial relationship with CIS to further drive growth and value creation in the capital market. NGX wishes the Institute many more years of excellence as it continues to markedly enhance the Nigerian capital market and the broader economy.”

NGX Celebrates CIS On 30th Anniversary, Reopens Trading Floor
Left-Right: Patrick Ajayi, Director, Nigerian Exchange Group; Temi Popoola, Chief Executive Officer, Nigerian Exchange Limited (NGX); Dr. Umaru Kwairanga, Chairman, Nigerian Exchange Group Plc; Oluwole Adeosun, FCS, President, Chartered Institute of Stockbrokers (CIS); Mr. Abubakar Mahmoud, SAN, OON, Chairman, NGX; Haruna Jalo-Waziri, Chief Executive Officer, Central Securities and Clearing System (CSCS) Plc and Tinuade Awe, Chief Executive Officer, NGX Regulation Limited during the Closing Gong Ceremony commemorating CIS 30th year Anniversary and the Re-opening of NGX Trading floor at The Exchange on Monday, 7 November 2022 in Lagos.

The Chairman, NGX Group, Alhaji Umar Kwairanga during his remarks noted that it was to the credit of NGX, NGX Regulation, Central Securities Clearing System (CSCS), NGX Group, and the stockbroking community that trading flowed seamlessly during the forced closure period. He however said, “I also know how physical interactions matter to us brokers and will continue to make sure that we see the impact of us coming back to the trading floor.

“We are also marking this alongside the ceremony commemorating our 30th anniversary and I hope that this is just the beginning of the greater collaboration between brokers, NGX Group as a whole, and the capital market,” he added.

Complementing the Chairmens’ comments, the Chief Executive Officer, NGX, Mr. Temi Popoola said, “NGX will continue to support the initiatives of the institute and cooperate for the further advancement of the capital market.”

The President and Chairman of the Governing Council of CIS, Mr. Oluwole Adeosun underscored the longstanding relationship between CIS and the Exchange. He promised that the Institute would continue to cooperate with NGX Group in its new structure. “A lot has been achieved from the initial foundation built by NGX for CIS. For 32 months, we have been trading seamlessly remotely due to the investments NGX made. We the operators express gratitude to the Exchange and believe we are definitely poised to achieve more together onward.”

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NGX Urges International Breweries Plc To Leverage On Frequent Facts Behind The Figures, Commends Progress Performance

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NGX Urges International Breweries Plc To Leverage On Frequent Facts Behind The Figures, Commends Progress Performance

….International Breweries recorded a remarkable increase of 137.4 percent in operating profiting in H1 2022 – Chiemeka

Olushola Okunlade Writes

The Nigerian Exchange Limited (NGX) on Tuesday, November 1 2022 held the “Facts Behind the Figures Presentation” with International Breweries Plc at the exchange building.

NGX advised the management of International Breweries Plc to sustain its commitment to high standards of corporate governance, social impact, and shareholder value creation.

Divisional Head, Capital Markets, NGX, Mr. Jude Chiemeka while commending the management of International Breweries Plc for leveraging the Facts Behind the Figures platform of the Exchange to increase its engagement with the market and its long-term contributions to socio-economic development in the country since its establishment in 1971 and listing in 1995.

Chiemeka said International Breweries Plc has made other contributions to the social economic development of the communities, “One of such contributions is the Responsible Beverage Service (RBS), a first-of-its-kind intervention program in Nigeria with the objective of contributing to the reduction of alcohol-related harms caused by drunk driving, underage drinking, binge drinking, gender-based violence, and alcohol consumption by pregnant women. This program reiterates the NGX’s mission of bringing people together for a better world.”

NGX Urges International Breweries Plc To Leverage On Frequent Facts Behind The Figures, Commends Progress Performance
Left-Right: Mr. Tony Ibeziako, Head, Primary Markets, Nigerian Exchange Limited (NGX); Mr. Jude Chiemeka, Divisional Head, Capital Markets, NGX; Hugo Dias Rochas, Managing Director, International Breweries Plc; Mrs. Tolulope Adedeji, Marketing Director, International Breweries Plc and Mr. Eduardo Caceres, Executive Director, International Breweries Plc during the Facts Behind the Figures presentation at the Exchange yesterday 1 November, 2022 in Lagos.

“International Breweries recorded a remarkable increase of 137.4 percent in operating profiting in H1 2022 reaching 36.6 billion naira compared to the same period of 2021. This achievement is a result of hard work and resilience by the management team to maintain the company’s financial performance and total revenue of 104 billion. “We would like to recognise these efforts being made by the Board and Management of International Breweries Plc towards achieving continuity by improving business operations and restoring investor confidence in the company.

“With the fast-changing macroeconomic environment in Nigeria and globally, we encourage International Breweries Plc to continue to strive for sustainability by adhering to higher standards of corporate governance, deeper social impact, higher regulatory compliance, and greater returns for shareholders,” Chiemeka added.

NGX Urges International Breweries Plc To Leverage On Frequent Facts Behind The Figures, Commends Progress Performance
Left-Right: Mr. Tony Ibeziako, Head, Primary Markets, Nigerian Exchange Limited (NGX); Mr. Jude Chiemeka, Divisional Head, Capital Markets, NGX; Hugo Dias Rochas, Managing Director, International Breweries Plc and Mr. Eduardo Caceres, Executive Director, International Breweries Plc during the Facts Behind the Figures presentation at the Exchange yesterday 1 November, 2022 in Lagos.

The Managing Director/Chief Executive Officer of International Breweries Plc, Mr. Hugo Dias Rocha during his remarks noted that the company would continue to build brands and invest in a sustainable and profitable business for the long term. “Our team is engaged and living in the AB InBev culture of optimising the growth potential of the business and delivering shareholder value,” he added.

Doyen of Capital Market, Alhaji Yusuf urged the management of International Breweries Plc to leverage on frequent facts behind the figures, while commending the progress performance figures, particularly the first half of 2022.

He said moving from being “Category Leader to Category Performer, Category Performer means making money and paying dividends to your investors, you have not been paying dividends to your investors for six years while promising to advise on how to redeem and restructure the debt.

The Nigerian Exchange Limited (NGX) on Tuesday, November 1 2022 held the “Facts Behind the Figures Presentation” with International Breweries Plc at the exchange building.

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