The Nigerian Stock Exchange (NSE or The Exchange) hosted Dangote Cement Plc to a joint virtual Facts Behind the Figures and Sustainability Report on Wednesday, 23 September 2020. The event provided a platform for the Management of Dangote Cement Plc to present its financial performance, strategic and operational developments and sustainability initiatives to the capital market community.
Speaking at the virtual event, the Chief Executive Officer, NSE, Oscar N. Onyema, OON, stated, “Given that the market is driven by timely, relevant and accurate information, we are pleased that Dangote Cement Plc has leveraged this platform to interact with the market. We must also commend the Board and Management of the company for their leadership in integrating sustainability into the core of their business operations evidenced by the fact that Dangote Cement Plc was the first to participate in the maiden edition of the Facts Behind the Sustainability Report (FBSR) series launched last year. At The Exchange, we will continue to highlight the importance of sustainable business practices in delivering value to our listed companies, the investing public and to support African economic growth”
On his part, the Group Managing Director, Dangote Cement Plc, Michel Puchercos, noted, “It is always an honour to be invited by NSE and we are proud of our strong ties with The Exchange. We appreciate the opportunity to continue deepening public interest and knowledge about Dangote Cement, and we are grateful for the continued support of our business from the capital market community. As Africa’s largest cement manufacturer, the future certainly looks bright. We have established a strong platform for future growth and consolidation across Africa, and we are on track to be a global leader in cement production recognised for high quality products and services, and the way we conduct our business.”
The Facts Behind the Figures and Sustainability Report was presented by Dangote Cement Plc’s Acting Chief Financial Officer, Guillaume Moyen and the Head, Sustainability, Eunice Sampson. Also speaking at the event was Bismarck Rewane, Managing Director/Chief Executive Officer, Financial Derivatives Company. In his presentation, he highlighted the investment opportunities Dangote Cement provides stating, “Being the largest company on NSE, Dangote Cement Plc provides ease in execution of investment decision. Furthermore, its stock price has shown the most resilience compared to peers; it provides indirect exposure to Dangote Cement Plc’s operating countries; it delivers a source of income through stable and strong dividend to investors (dividend yield of 11.8%); and has attractive upside potentials with a target price of N173 at a 28% premium to current price.”
Following the presentations and an engagement session with participants, Mr.Puchercos was honoured with a digital Closing Gong ceremony. It would be recalled that The Exchange has leveraged its digital Closing Gong ceremony since April 2020 as part of measures to sustain business activities at The Exchange and continue to engage with Issuers and other stakeholders. This is just one of the ways The Exchange has demonstrated its resilience in recent times and the market continues to look forward to further innovation and opportunities for engagement at NSE.
Furera Jumare resigns from Union Bank Board following appointment by Jigawa State
Mrs. Furera Isma Jumare has resigned her role on the Board of Union Bank of Nigeria Plc.
Following her appointment as Director-General of the Jigawa State Investment Promotion Agency, Mrs. Furera Isma Jumare has resigned her role as Independent Non-Executive Director on the Board of Union Bank of Nigeria Plc. This in line with regulatory guidelines precluding certain categories of public servants from serving on boards of banks and other financial institutions.
Commenting on the Mrs. Jumare’s resignation, Board Chair, Mrs. Beatrice Hamza-Bassey, said:
“Since joining the Board in May 2017, Furera has been an invaluable voice in the Boardroom. Her experience and professional counsel directly contributed to our wins in recent years and in helping us navigate challenging times. She also served studiously as the Chair of the Board Governance Committee and Member of the Board Audit and Risk Management Committees. On behalf of the Board, I thank her for her diligent service and wish her much success as she answers the call of service to her State.”
Chief Executive Officer, Mr. Emeka Emuwa, said:
“Furera’s appointment is a clear acknowledgement of her experience and accomplishments in her long career including in her role as Director with Union Bank. The Board and Management are grateful for her service and wish her the best in her new role.”
Mrs. Jumare’s resignation is effective immediately.
Our website not shut down – First Bank of Nigeria Plc
The management of First Bank of Ni has dismissed rumours alleging that its website was shut down.
Our attention has been drawn to the tweet making the rounds on social media on shutting down the FirstBank website following a false tweet that the Bank prevented staff from joining the ongoing protests in the country.
As the largest banking institution in Nigeria, it is not unlikely that we may be seen as a target in circumstances such as these. This is rather unfortunate as we believe far-reaching reform is necessary and we have said as much on a number of occasions across our platforms.
In the process of change, some pain will be borne by all and some anger may well be misdirected. We understand this as a part of the process of the struggle.
We have a large staff strength and an even larger customer base who may be affected by any disruption and this would be a pity as a number are also contributing in many ways to ensure that voices are heard and required action is taken.
We have been consistent in our message on the need to end all brutality and carry out necessary reforms. We will continue to lend our voice accordingly.
NSE to host industry leaders at Oil and Gas sector webinar
The Exchange is set to host key players across the entire oil and gas value chain at its Oil and Gas sector webinar.
The Nigerian Stock Exchange (“NSE” or “The Exchange”) will host an Oil and Gas sector webinar on Tuesday, 20 October 2020.
With the theme, Perspectives of Operators and Industry Experts Post-COVID-19, the webinar will bring together key players across the entire oil and gas value chain to discuss the impact of the COVID-19 pandemic on the sector as well as its reactions to global trends, government policies, funding dynamics, key challenges and potential shifts. Interested participants can register to attend at http://bit.ly/nse-oilandgas-webinar.
The event will be headlined by the Honourable Minister for State for Petroleum Resources, Chief Timipre Marlin Sylva; the Director-General, Securities and Exchange Commission (SEC), Dr. Lamido Yuguda; and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari. It will feature a stellar line-up of global speakers across the public and private sector who will analyse global trends and insights that will shape the future of the Nigerian oil & gas sector, provide recommendations for policymakers, and identify opportunities for long-term growth and expansion.
Speaking about the webinar, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, OON, noted that, “The impact of the COVID-19 pandemic continues to be felt across diverse industries globally and the oil and gas industry is no exception. Today, the COVID-19 crisis has accelerated what was already shaping up to be one of the industry’s most transformative moments, the impacts of which will likely be felt throughout oil’s global supply chains and ripple into other parts of the energy sector. Nonetheless, oil and gas will remain a multi-trillion-dollar market for decades given its role in supplying affordable energy. The question of how to create value in the new normal is therefore fundamental and one that we hope to discuss in this webinar. We envision that the insights gathered at the forum will lead to actionable solutions that can chart a more sustainable future for the oil and gas sector.”
Some of the other confirmed speakers for the event include CEO, Seplat, Mr. Roger Brown; CEO, Niger Delta Exploration and Production, Dr. Layi Fatona; Chief Investment Officer, Global Energy, International Finance Corporation (IFC), Mr. Olivier Mussat; Deputy Director, Securities and Investment Services, SEC, Mr. Abdulkadir Abbas; President Association of Issuing Houses of Nigeria/CEO Vetiva Capital Management, Mr. Chuka Eseka; Executive Chairman, Àrgentil Capital Partners, Mr. Adekunle Adedeji; CEO, Ardova Plc, Mr. Olumide Adeosun; CEO, Eterna Plc (Rtd), Mr. Mahmud Tukur; CEO, Axxela Group, Mr. Bolaji Osunsanya; Co-Founder/Partner, Verod Capital, Mr. Eric Idiahi; CEO, Stanbic IBTC Capital, Mr. Funso Akere; Head, Oil & Gas Coverage Renaissance Capital UK, Mr. Alex Burgansky; Oil and Gas Industry Expert, Ms. Rolake Akinkugbe Filani; and Partner and Energy Industry Leader for West Africa, PricewaterhouseCooper (PwC), Pedro Omontuemhen.