NGX Group: We’ll focus on corporate strategies to drive sustainability

The Nigerian Exchange Group Plc (NGX Group) says it will focus on four pillars of community, marketplace, workplace, and environment to drive sustainability. 

Oscar Onyema, group chief executive officer (CEO), NGX group, said this on Thursday during the group’s full-year (FY) 2021 investor and analyst presentation.

Presenting the 2021 highlights of the group’s performance, Onyema noted that the NGX Group went through a restructuring of its business to improve its business model and become active along the entire capital market value chain.

According to him, the group formulated and executed the strategy of the holding company by building a multi-exchange business with diversified revenues in 2021.

While breaking down the group’s income streams, Onyema said the revenue of the non-operating Holdco is made up of dividends and treasury investment income, adding that the company is working with its various subsidiaries and associate companies to optimise its strategy and increase profitability, which will support the upstreaming of dividends.

“Nigerian Exchange Limited (NGX), in collaboration with the Group, continues to focus on four pillars of community, marketplace, workplace, and environment to drive sustainability. Furthermore, NGX has digitised its ecosystem to promote more retail participation, and it is leveraging and investing in global market-driven technology, improving the listing universe, and working closely with regulators to enhance ease of doing transactions for issuers,” he said. 

“At NGX Group, we have clear and well-defined strategies and are equipped to sustain market dominance.”

Also speaking, Cyril Eigbobo, group chief financial officer, said the NGX Group’s gross earnings grew from N6.02 billion to N6.78 billion, resulting in a 13 percent increase. 

He added that the group’s profit before tax (PBT) increased by 25.4 percent to N2.39 billion while its profit after tax (PAT) increased from N1.84 billion in 2020 to N2.25 billion in 2021, resulting in a 22.2 percent growth. 

According to him, the jump in the group’s revenue, which rose by 14.9 percent from N5 billion recorded in 2020 to N5.8 billion in 2021, was driven by a 24.8 percent growth in listing fees which grew from N606.9 million in 2020 to N757.4 million in 2021. 

Eigbobo added that the growth was propelled by a 4.9 percent increase in its treasury investment income and a 2.1 percent growth in the transaction fees which rose from N2.8 billion recorded in 2020 to N2.9 billion. 

Last year, the exchange became a publicly listed company after completing its demutualisation process. 

This had resulted in the creation of a new non-operating holding company, the NGX Group.

In October, it successfully listed 1,964,115,918 shares by introduction on the main board of the Nigerian Exchange Limited (NGX).