The Nigerian Exchange (NGX) Group Plc says it has well defined strategies and is equipped to sustain market dominance.

Its Group Chief Executive, Oscar Onyema, made this known to newsmen during the exchange’s Full Year (FY) 2021 Investor and Analyst Presentation via Zoom on Thursday.

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

He said that the NGX Group in 2021, focused on formulating and executing the strategy of the holding company by building a multi-exchange business with diversified revenues, raising capital and optimal corporate governance structure and eliminating redundancy through shared services that are used by multiple divisions across the group.

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

He said, “In collaboration with the Group, the NGX Exchange continues to focus on four pillars of community, marketplace, workplace and environment to drive sustainability. Furthermore, we have digitalised our ecosystem to promote more retail participation. We are 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. So you see that the NGX Group Plc have clear and well defined strategies and is equipped to sustain market dominance.”

Speaking further, the Group’s Chief Financial Officer, Cyril Eigbobo, said, the NGX’s gross earnings grew to N6.78 billion from N6.02 billion, resulting in a 13 per cent increase. He added that the group’s profit before tax (PBT) increased by 25.4 per cent to N2.39 billion while its profit after tax (PAT) rose by 22.2 per cent to N2.25 billion from N1.84 billion recorded in the corresponding period of 2020.