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.
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.