The Chairman of Nigeria Exchange Group, Alhaji (Dr.) Umaru Kwairanga, has said that Africa’s leading integrated marketing infrastructure institution will continue to sustain high performance based on strategic initiatives from the Board.
The Group Chairman disclosed this at the 63rd annual general meeting of the NGX Group held on Monday at the Nigerian Exchange Group House in Lagos.
Dr. Kwairanga reiterated that: “As the Board oversees the strategic direction and gives management the necessary support and guidance, we believe that the coming year will be a better one in terms of value created for our shareholders.
The Group’s Chairman, who expressed deep optimism on Nigeria’s business environment, noted that the “Group is positioned to capitalize on opportunities amid the positive and forwatd looking reforms by the government, and our stakeholders should rest assured we will deliver excellently”.
The meeting approved the declaration of a final dividend, ratified the appointment of Temi Popoola as the Group Managing Director/Chief Executive Officer of NGX Group, endorsed the financial statements as presented, and re-elected non-executive directors who retired by rotation, among other undertakings at the AGM.
A major highpoint of the resolutions was shareholders’ authorisation of rights issue to raise capital of up to N10 billion with a subjoined resolution to increase its share capital to sufficiently accommodate the rights issue, subject to regulatory approval.
In his remarks, the Group Managing Director/Chief Executive Officer, NGX Group, Mr. Temi Popoola said, “As we complete our 63rd AGM, I extend my sincere gratitude to our shareholders, customers, employees, regulators, and directors for their steadfast support.
Mr. Popoola noted that “in a year that underscored NGX Group’s strategic agility and operational excellence, we witnessed growth stemming from our dynamic revenue streams. We are optimistic and well-positioned to forge a future marked by success, resilience, and prosperity.”
Addressing the digital transformation agenda, Popoola noted, “The future of our business and the capital markets hinges on technology. That is why we are driving this digital transformation journey across our subsidiaries through the Group.
He said NGX Group’s digital transformation will democratize access to public issuances for every Nigerian with a mobile phone, supporting capital-raising efforts for companies. Additionally, we aim to commercialize our technology solutions and expand our footprint across Africa”.
The digital platform, according to him, will provide a smarter and efficient way for Issuers to raise capital and enhances the subscription process and operational workflow of POs in the capital market including initial public offerings (IPOs), rights issues and other public offers.