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NGX’s CEO Highlights The Value Of Corporate Governance In Capital Market

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NGX Inducts 117 New Authorised Dealing Clerks

NGX’s CEO highlights the value of Corporate Governance in the capital market

Nigerian Exchange Limited (NGX), highlighted the value of sound corporate governance as the foundation that creates transparency and establishes the trust required to keep the global financial system running.

He said this during the launch of the Corporate Governance Triangle, an initiative of the Nigerian Bar Association Section on Business Law (NBA-SBL), Nigerian Exchange Limited, and the Institute of Directors, Nigeria (IoD) on Tuesday, March 22, 2022.

Speaking at the event, Mr. Popoola, represented by Jude Chiemeka, Divisional Head, Capital Markets, Nigerian Exchange Limited, said, “As a securities exchange, we recognize our unique role in fostering the growth of long-term sustainable capital by positively influencing our key stakeholders to adopt sustainable business practices, including best practice corporate governance. Sound corporate governance ultimately brings about greater transparency and trust in the Nigerian capital market and positions the market on a strong pedestal as a leading capital market in the region”.

Speaking about the launch of the Corporate Governance Triangle, Mr. Popoola expressed delight in the initiative, saying, NGX is delighted to collaborate with the Institute of Directors Nigeria (“IoD Nigeria”) and Nigerian Bar Association-Section on Business Law (“NBA-SBL”) on the establishment of the Corporate Governance Triangle. We look forward to working closely with our colleagues in these highly-reputed organizations to formulate and implement initiatives that will further raise the bar on corporate governance standards and practice in Nigeria”.

The Corporate Governance Triangle was initiated to foster good corporate governance in Nigeria for members of the business law community, directors and managers of businesses, shareholders, and other corporate stakeholders. As key stakeholders in the corporate world, the CCGC, NGX, and IOD are in a position to influence their members, share best practices and develop frameworks that will enhance corporate governance in Nigeria.

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Popoola Canvasses For Increased Investment Toward Sustainable Development Goals

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NGX Inducts 117 New Authorised Dealing Clerks

Popoola canvasses for increased investment toward the Sustainable Development Goals

Olushola Okunlade Writes

The Chief Executive Officer, Nigerian Exchange Limited, Temi Popoola, has canvassed for an increase in long-term sustainable finance to achieve the Sustainable Development Goals in Sub-Saharan Africa.

Popoola made this known while speaking as a panelist at the CEO Breakfast Roundtable hosted by United Nations Global Compact Network Nigeria, during the visit of Sanda Ojiambo, Assistant Secretary-General of the United Nations Global Compact, to secure the commitment of the leadership of the Nigerian private sector to the UN Global Compact Africa Strategy.

Highlighting the unique role played by securities exchanges within the global capital market in driving progress towards sustainable development, Popoola said, “Securities exchanges have a critical role to play in the reallocation of capital towards the achievement of the Sustainable Development Goals (SDGs) and the Paris Agreement on climate change, particularly in Sub-Saharan Africa (SSA) where countries are lagging behind all other regions in various development indicators. At NGX, we remain committed to fostering the growth of sustainable financial products that integrate the financial risks and help issuers leverage the opportunities associated with the SDGs, the fight against climate change”.

Speaking on NGX’s role in fostering the growth of sustainable finance in Nigeria, he highlighted the role of the Exchange in developing Nigeria’s green bond market. He said, “NGX, has over the years, played a leading role in developing financial instruments that address sustainable development and promote financial inclusion in the Nigerian capital market. In recognition of Nigeria’s climate finance needs and the urgent action required to combat climate change as enshrined in the Paris Agreement on Climate Change, the Exchange, in 2016, championed efforts along with government and industry stakeholders that culminated in the issuance of the maiden N10.69Bn (c. $25.8 million) 13.48% 5-year green bond in 2017. The Exchange also played a leading role in promoting the development and issuance of the Federal Government of Nigeria (FGN) Ijarah Sukuk which has proven to be a highly attractive instrument that supports inclusion from Nigeria’s ethical investors and sharia-compliant investors who have a stronger preference for non-interest-based instruments”.

Speaking on NGX’s continuous support for developing the sustainable finance market in Nigeria, Popoola cited the Exchange’s collaboration with International Finance Corporation (IFC) to build the capacity of potential green bond issuers in Nigeria. He said, “NGX has partnered with IFC to train issuers and market operators on the issuance of sustainable financial instruments. Through the training, NGX and IFC shared best practices in sustainable finance issuance, and educated potential issuers on the unique characteristics of green social and sustainable bonds, the specific advantages of each instrument, as well as the detailed step-by-step process for issuing these instruments”.

Popoola stressed the need for collaboration to ensure the SDGs are met by the 2030 deadline. He commended the United Nations Global Compact on the recent launch of the Africa Strategy and encouraged private sector leaders to support the initiative. “The Africa Strategy aspires to recruit and support the 100 most exemplary companies in Africa along with the top ten companies present in each of the ten countries where a Local Network is operating. Business leaders should support the United Nations Global Compact Africa Strategy to develop innovative financing solutions to deliver impact towards achieving the SDGs in Africa”, he added.

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NGX Lauds Immediate Former Chairman, Welcomes Newly Appointed Chairman Of Seplat Energy Plc To The Market

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NGX lauds immediate former Chairman, welcomes newly appointed Chairman of Seplat Energy Plc to the Market

NGX lauds immediate former Chairman, welcomes newly appointed Chairman of Seplat Energy Plc to the Market

Olushola Okunlade Writes

Nigerian Exchange Limited (NGX) hosted members of the Board of Directors and Executive Management of Seplat Energy Plc to a Closing Gong Ceremony to honour the immediate former Chairman, Dr. Ambrosie Bryant Chukwueloka (‘A.B.C.’) Orjiako, and introduce the newly appointed Chairman, Mr. Basil Omiyi, to the market on Thursday, 19 May 2022.

Speaking at the event, Mr. A.B. Mahmoud, SAN, OON, Chairman, NGX, ably represented by, Mr. Kamarudeen Oladosu, Director, NGX, congratulated the immediate former Chairman, Dr. A.B.C Orjiako, for his exemplary leadership and outstanding performance of Seplat Energy for well over a decade, during which the company was listed on both NGX and London Stock Exchange. “The notable acquisition of eight oil and gas assets, expansion of the Oben, and development of the ANOH gas plants under his leadership positioned the company as the largest indigenous domestic supplier of gas”, he noted.

In response, the immediate former Chairman, Dr. Ambrosie Bryant Chukwueloka (‘A.B.C.’) Orjiako, commended NGX for its high levels of corporate governance, which have been critical to the company’s growth. He said, “The high levels of corporate governance promoted by NGX for its listed companies was a key attribute that motivated Seplat Energy Plc to become part of the market. Since our acceptance into the market, Seplat Energy Plc has continued to deliver a corporate governance structure that is accountable and transparent to our investors, employees, government, and all other relevant stakeholders. We are committed to sustaining these high levels of corporate governance through our collaboration with NGX as we implement market-leading measures towards ensuring Nigeria achieves a sustainable energy sector”.

NGX lauds immediate former Chairman, welcomes newly appointed Chairman of Seplat Energy Plc to the Market
Left-Right: Emeka Onwuka, Chief Financial Officer, Seplat Energy Plc; Kamarudeen Oladosu, Director, Nigerian Exchange Limited (NGX); Effiong Okon, Executive Director, Operations, Seplat Energy Plc; Dr. Ambrosie Bryant Chukwueloka Orjiako, immediate former Chairman, Seplat Energy Plc; Temi Popoola, Chief Executive Officer, NGX; Mr. Basil Omiyi, Chairman, Seplat Energy Plc; and Mr. Roger Brown, Chief Executive Officer, Seplat Energy Plc at the Closing Gong Ceremony to hosted to celebrate the immediate former Chairman and welcome the newly appointed Chairman of Seplat Energy Plc hosted on the Trading Floor of Nigerian Exchange Limited.
NGX lauds immediate former Chairman, welcomes newly appointed Chairman of Seplat Energy Plc to the Market
Left-Right: Mr. Roger Brown, Chief Executive Officer, Seplat Energy Plc; Kamarudeen Oladosu, Director, Nigerian Exchange Limited (NGX); Dr. Ambrosie Bryant Chukwueloka Orjiako, immediate former Chairman, Seplat Energy Plc; Temi Popoola, Chief Executive Officer, NGX and Mr. Basil Omiyi, Chairman, Seplat Energy Plc at the Closing Gong Ceremony to hosted to celebrate the immediate former Chairman and welcome the newly appointed Chairman of Seplat Energy Plc hosted on the Trading Floor of Nigerian Exchange Limited.

Delivering his remarks, the recently appointed Chairman, Seplat Energy Plc, Mr. Basil Omiyi, said, “NGX has played an instrumental role in Seplat Energy Plc’s growth within the domestic and international markets. Our history with the Exchange dates back to 2014 when the shares of Seplat Energy Plc were listed in the market and over the years, Seplat has benefitted immensely from its collaboration with NGX. As we celebrate another milestone on the Trading Floor of the Exchange, we look forward to strengthening our partnership with NGX for the fulfillment of our joint goal of leveraging capital to empower sustainable initiatives that positively impact our investors, employees, and the environment.”

On his part, Temi Popoola, Chief Executive Officer, NGX, 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 Seplat Energy Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out-of-the-box ideas that could support Nigeria’s energy transition into a net-zero economy.”

Also present on the trading floor of NGX to sound the gong and bring the day’s trading to a close were Mr. Roger Brown, Chief Executive Officer, Seplat Energy Plc; Mr. Bello Rabiu, Independent Non-Executive Director, Seplat Energy Plc; Mr. Emeka Onwuka, Chief Financial Officer, Seplat Energy Plc; Dr. Chioma Nwachukwu, Director, External Affairs and Sustainability, Seplat Energy Plc; Mr. Effiong Okon, Operations Director, Seplat Energy Plc; Mr. Jude Chiemeka, Divisional Head Capital Markets Division, NGX; Mr. Femi Oyenuga, Divisional Head Digital Technology Services, NGX, and Mrs. Irene Robinson-Ayanwale, Divisional Head Business Support Services Division, NGX.

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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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