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”.
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.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.
NGX Group of Companies plans to celebrate 2023 International Women’s Day and Ring the Bell for Gender equality.
NGX Group of Companies recognises that investing in women’s empowerment in the workplace, marketplace, and community is of strategic importance to business growth and sustainability.
For this reason, NGX Group has chosen to celebrate IWD as part of the global UN SSEI event hosted by over 80 securities exchanges in collaboration with the UN Global Compact, UN Women, IFC, and WFE (the “Global Partners”).
The theme of this year’s celebration is ‘Embrace Equity’ and it seeks to celebrate women’s achievements, raise awareness about discrimination and take action to drive gender parity. To this end, our 2023 IWD celebration would build on the global theme, Embrace Equity.
Date: Wednesday, 8 March 2023 Time: 1:00 pm – 2:30 pm (WAT) Venue: Zoom & Live streamed on YouTube
Few days to go before Nigeria’s highly anticipated general elections, domestic investors in the local bourse are scooping up positions in stocks, shunning potential risks from the impacts of voter’s choices.
Nigerian Exchange Limited (NGX) All-Share Index (ASI) is up 5.80% already in 2023 as of market close on 20 February 2023, maintaining a bullish run from September 2022. Data from NGX revealed that this has been a result of the outsized participation from domestic investors, who currently occupy 84% of total transactions conducted on the Exchange.
Foreign participation in the local bourse has so far moderated in recent years due to issues around forex liquidity and monetary policy, placing their turnover at 16% according to the December 2022 edition of the Domestic and Foreign Portfolio Investment Report of the Exchange. Analysts have commented that this is in due part a result of unimpressive yield in fixed-income securities, pushing investors to buy up fundamentally strong stocks with attractive dividend yields.
Historically, the market has typically experienced volatility during election season with some notable years, particularly the 1999 election – which saw change from military rule – and 2015 election – which saw the first incumbent defeat at the polls – experiencing declines pre-election. The positive domestic investor sentiment, according to analysts, has been driven mostly by strong earnings releases and dividend payouts announced by companies in the wake of earnings season. However, some have advised cautious trading as the 2023 elections approach but maintained their positive outlook on dividend yields and capital appreciation in bellwether stocks.
An analyst with Parthian Securities, Azeezat Awonuga, whilst commenting on the market with CNBC Africa said that investors are poised to hunt for gains in the stock market as the fixed income yields have moderated in recent times. “As we anticipate earnings from the banking sector which comprises about 60% of the volume in the market and also form the bulk of the fundamentals, positive earnings will push investors to plow more funds into the market,” she stated.
Another investment research analyst from Investment One Capital Management Limited, Akosile Oluwasanmi noted to Channels that uncertainties around the elections and the cash crunch in the economy could dampen investor sentiment into taking profits but positive corporate earnings could also see investors increasing their positions.
Arbitration Group, International Chamber of Commerce, Nigeria
Olushola Okunlade Writes
NGX Group has received a courtesy visit from the Arbitration Group, International Chamber of Commerce, Nigeria on Friday 10 February 2023 in Lagos.
Left-Right: Oghenekevwe Akpobia, Legal Manager, Litigation & ADR, Nigerian Exchange Limited (NGX); Irene Robinson-Ayanwanle, Divisional Head, Business Support Services and General Counsel, NGX; Olubunmi Osuntuyi, Secretary General, International Chamber of Commerce (ICC) Nigeria; Oscar N. Onyema, OON, Group Chief Executive Officer, Nigerian Exchange Group; Dorothy Ufot, SAN, Chairman, Arbitration Group, ICC Nigeria; Jean Chiazor Anishere, SAN, Co-Chair, Planning Committee, 7th ICC Africa Arbitration and Centenary Conference and Clifford Akpolo, Head, Marketing and Corporate Communications, NGX, during courtesy visit by the Arbitration Group, International Chamber of Commerce, Nigeria on Friday 10 February 2023 in Lagos.