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Tag: Nigerian Exchange Group (NGX Group) Plc

  • ‘Relationships build enduring legacy’

    ‘Relationships build enduring legacy’

    Group Managing Director, Nigerian Exchange Group (NGX Group) Plc, Mr Temi Popoola has emphasised the importance of relationships and networks in leadership and legacy-building.

    Popoola spoke at the birthday celebration of business magnate and philanthropist, Chief Diana Chen.

    Speaking during a high-level panel session held in her honour, Popoola praised Chen as a living testament to the impact of purposeful connection, describing her as “a powerful bridge-builder whose life reflects the influence of networks built on trust, loyalty, and shared vision.”

    He emphasized that in Africa’s evolving economic and social landscape, success is not just measured by milestones or material wealth, but by the quality of one’s relationships and ability to empower others. “In a world that is constantly changing, one thing that remains timeless is the strength of your relationships and the quality of your network. These connections are the true capital that sustain us, both in business and in life,” he said.

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    Popoola also reflected on the power of mentorship, sharing personal insights and stories from Nigerian students in China whose lives have been positively shaped by Chief Chen’s work. “There’s a kind of calmness, clarity, and drive that comes from living with purpose,” he added. “Mentorship is not always structured; often, it is embedded in how people feel seen, supported, and guided.”

    As Chairman of Choice International Group (CIG), a multinational enterprise with operations across Africa, Chief Diana Chen has consistently championed a model of growth that blends commerce with community, and industry with identity.

    In Nigeria, her vision is most evident in sectors such as mobility, renewable energy, education, and public infrastructure, where CIG is actively helping to redefine the landscape of industrial development.

    Popoola noted that true leadership is about intentional impact, shaping people and systems through vision, service, and relationships that endure. In a country like Nigeria, where challenges often intersect with opportunity, he said leaders must be grounded in purpose and committed to lasting influence.

  • NGX Group declares record dividends on robust earnings

    NGX Group declares record dividends on robust earnings

    The board of directors of Nigerian Exchange Group (NGX Group) Plc has recommended distribution of N4.4 billion as cash dividends to shareholders, the highest dividend by the holding group for the Nigerian Exchange (NGX) and other market-intermediating companies.

    The N4.4 billion dividend recommendation, equivalent to a dividend per share of N2, highlighted NGX Group’s impressive performance in the 2024 business year, with a double in the top-line and 157 per cent growth in pre-tax profit.

    Key extracts of the audited report and accounts of NGX Group for the year ended December 31, 2024 released at the weekend showed that group gross earnings doubled by 103.2 per cent from N11.8 billion in 2023 to N24.0 billion in 2024. Profit before tax rose by 157.3 per cent to N13.6 billion, the highest by the group.

    The strong performance was driven by robust revenue expansion, strategic cost optimisation, and increased market participation. Transaction fees had risen by 64 per cent, driven by heightened market activity. Listing fees increased by 397.1 per cent, reflecting stronger capital market participation.

    A further review showed that technology related income grew by 105 per cent, reflecting the success of the group’s digital transformation efforts. Other fees recorded a 174.8 per cent growth, reinforcing the group’s diversified revenue base. Treasury investment income climbed 45.6 per cent, highlighting NGX Group’s effective asset management.

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    Also, market data revenue grew by 100.5 per cent, contributing to a 102.6 per cent rise in other income, which accounted for 29.6 per cent of gross earnings.

    Group Chairman, Nigerian Exchange Group (NGX Group) Plc, Alhaji Umaru Kwairanga said the dividend recommendation reaffirmed the group’s commitment to delivering value to shareholders while maintaining a strong capital position.

    He said the 2024 results marked a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in the group’s long-term vision.

    “The approval of a record N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development. As we continue to invest in market infrastructure and innovation, we remain focused on creating sustainable value for all stakeholders.

    “The NGX Group under my leadership is focused on harnessing the entrepreneurial and innovative spirit of Nigeria’s private sector to drive the economy to greater heights,” Kwairanga said.

    He added that NGX Group’s outstanding financial performance in 2024 reflected the success of its strategic expansion and innovation agenda, including the launch of NGX Invest, which has facilitated N1.845 trillion in capital raises for the banking sector, enhancing liquidity and investor participation.

    He noted that expansion into new markets, marked by a strategic investment in the Ethiopian Securities Exchange (ESX), reinforced the group’s regional footprint while workforce optimisation and operational efficiency initiatives, led to improved cost management and productivity.

    Group Managing Director, Nigerian Exchange Group (NGX Group) Plc, Mr. Temi Popoola described the 2024 results as remarkable.

    According to him, the 2024 performance reflected the group’s strategic focus on execution, operational excellence, and innovation.

    “The 157.3 per cent increase in profit before tax underscores the strength of our execution strategy and the dedication of our team. By leveraging technology, expanding market data solutions, and strengthening our partnerships, we have built a more resilient and diversified business model that positions us for sustained growth.

    “Looking ahead, we remain committed to deepening market participation, broadening investment opportunities, and driving efficiency across the capital market ecosystem. We will continue investing in innovation, enhancing market infrastructure, and developing new platforms that improve accessibility and attract a wider range of investors. Through these efforts, we are shaping NGX Group into a leading force in Africa’s financial landscape, delivering sustainable value for all stakeholders,” Popoola said.

    He pointed out that with its olid capital base, strong revenue diversification, and a commitment to innovation, NGX Group remains well-positioned to drive capital market development in Nigeria and across Africa.

    He said the group, by continuously enhancing market infrastructure, expanding investment opportunities, and fostering financial inclusion, has been reinforcing its role as a key enabler of economic growth and prosperity.