Shareholders of Nigerian Exchange Group Plc have commended the company’s performance and strategic direction while calling for sustained growth and tighter market surveillance to curb price manipulation.
The commendation was made at the Group’s 65th Annual General Meeting (AGM) held in Lagos on Wednesday, April 29, where investors also approved the audited financial statements for the year ended December 31, 2025.
The meeting highlighted strong shareholder confidence in the Group’s leadership, alongside concerns about market discipline and the need to strengthen investor protection mechanisms.
What they are saying
Chairman Umaru Kwairanga and Group Managing Director/CEO Temi Popoola outlined the company’s strategic focus and reassured investors of continued value creation.
They emphasised disciplined execution, regulatory vigilance, and expansion as key priorities for sustaining growth and protecting market integrity.
- “The progress recorded reflects the strength of the Group’s strategy and the performance of its operating businesses. Our responsibility is to ensure disciplined oversight and position NGX Group for sustainable value delivery,” Kwairanga said.
- “The market is strong with significant liquidity. The key question is how we ensure investor protection. Our regulatory teams have intensified oversight to safeguard market integrity,” Mr Temi Popoola, NGX Group CEO, stated.
- Popoola added that the Group is positioning for scale through infrastructure expansion, broader participation, and new capital formation channels.
The executives also highlighted plans to leverage technology, deepen liquidity, expand across Africa, and introduce new products such as derivatives to strengthen the exchange’s competitiveness.
More insights
Shareholders expressed concerns about rising share prices not backed by fundamentals, urging stronger surveillance to maintain market credibility. They warned that speculative trading could erode investor confidence if not properly addressed by regulators.
- A shareholder activist, Chief Sony Nwosu, noted that the market remains a “bastion of integrity” but requires stricter checks on speculative price movements.
- He stressed that some stock price increases lack fundamental support and should be closely monitored.
- Boniface Okezie, another shareholder activist, called for sustained regulatory vigilance, citing recent company suspensions as evidence of the need for discipline.
- He also raised concerns about government taxation on NGX and rising operational costs affecting market growth.
Despite these concerns, shareholders approved key resolutions including a final dividend of N2.00 per share, a one-for-three bonus share issue, and an increase in share capital, reflecting continued confidence in the Group’s financial strength.
What you should know
The NGX Group is pursuing several initiatives aimed at deepening Nigeria’s capital market and enhancing investor participation. These include structural reforms and strategic positioning to attract both local and foreign investors.
- The Group is working with regulators to introduce extended trading hours and shorten settlement cycles.
- Efforts are ongoing to improve retail investor access and participation in the market.
- The company is positioning Nigeria as a continental hub for securities distribution and capital formation.
- Sustainability and ESG-focused capital mobilisation have also been identified as core priorities.
Shareholders also acknowledged revenue growth and improved cost management as signs of resilience despite macroeconomic challenges, although concerns remain about subsidiary performance consistency, governance structure, and disclosure quality.
