The acting Chief Executive Officer of the Nigeria Exchange Limited (NGX), Mr Jude Chiemeka, has revealed that the stock market contributed to raising over N3.85 Trillion to finance different government and corporate entities' projects.
Chiemeka, the acting CEO, made this known during an interview with the News Agency of Nigeria (NAN) on Friday, January 26, 2024, in Lagos. During this interview, he provided insights into the stock exchange's various contributions.
He said that the N3.85 trillion demonstrates the significant role that the NGX plays in enabling capital formation and investment in the economy.
Chiemeka further noted that the substantial tax contributions made by the top five listed companies amounted to over N362 billion to the federal government, with dividends of N962 billion paid.
He said,
- Our market has resiliently provided stakeholders a platform to raise capital and invest. Year to date, NGX has facilitated the needed financing of more than N3.85 trillion in capital raised by governments and corporations across various asset classes.
- We remain committed to helping issuers gain tremendous value from their interactions with the market by positioning ourselves as the African Exchange of choice. We will continue to adopt rules to improve our listed firms' corporate governance. We also offer products and services tailored to investors' needs in a fair and orderly market.
The CEO said that all the positive results show the importance of the NGX to the Nigerian government and investors who trade stocks on its platform.
He also discussed the resilience and reliability of the NGX, and he highlighted the diverse opportunities that the Exchange has provided, which he said include equities, fixed income, derivatives, and other exchange-traded products (ETPs) like Mutual Funds and exchange-traded funds (ETFs). He attributed all these to the NGX's commitment to offering a robust and efficient platform where both old and new investors can trade and build their portfolios.
Read more: https://www.investingport.com/niger...nd-corporate-projects-in-2023-ngx-acting-ceo/