Economy
NSE, Others Celebrate Aigboje Aig-Imoukhuede
By Aduragbemi Omiyale
The former Group Managing Director of Access Bank Plc, Mr Aigboje Aig-Imoukhuede, could not hide his excitement when he was celebrated at the Nigerian Stock Exchange (NSE) on Wednesday, March 31, 2021.
The respected banker was hosted to a digital closing gong ceremony today in celebration of his years of meritorious service and contributions to the growth of the exchange.
He retired as the ex-officio of the National Council of the NSE. He was the president of the council between 2014 and 2017 when he exited the position. However, he remained in the council as an ex-officio.
“It is my deep pleasure to celebrate Mr Aig-Imoukhuede today for his exemplary stewardship as first vice president, president and ex-officio of the national council for over seven years.
“The transformational groundwork he laid made it easier to succeed him as Council President and avidly pursue the vision to build a world-class exchange.
“Furthermore, I would like to thank him for his wise and valuable counsel to the NSE over the years which were instrumental in the attainment of demutualisation and will continue to guide the entire group in this new era.
“I speak on behalf of the management and staff of the NGX Group Plc and its subsidiaries in commending him for his exceptional service and wishing him well in his future endeavours,” the chairman of the Nigerian Exchange Group (NGX Group) Plc, Mr Abimbola Ogunbanjo, stated.
On his part, the Group CEO of the NGX Group, Mr Oscar Onyema, thanked Mr Aig-Imoukhuede for the hands-on experience and business expertise with which he has contributed to the growth of the NSE over the years.
“During his time as president of the national council, he provided unique insights that saw to the development of the exchange despite the harsh economic and policy environments that often characterised his tenure.
“As ex-officio, Mr Aig-Imoukhuede continued to provide invaluable support to the exchange. We are honoured to celebrate his achievements and are excited that he did indeed enter the ‘promised land’ with us as he said he would when he retired as president of the national council in 2017,” he said.
The stockbroking community, speaking through their representative, Mr Rasheed Yusuf, applauded the founder of Coronation Merchant Bank for his contribution to the capital market and wished him success in his future endeavours.
In his remarks, Mr Aig-Imoukhuede said, “It has been a wonderful journey over the past seven years as first vice-president, president and ex-officio of the national council of the NSE.
“Serving in this prestigious role will always be a highlight in my career and I feel greatly privileged to have worked with amazing colleagues at the national council, the executive committee and staff of the exchange.
“I must also thank the dealing member community, issuers, the investing public, regulatory bodies and all other stakeholders who contributed in one way or the other to our progress over the years, particularly our aspiration to demutualise.
“I also thank my wife (Mrs Ofovwe Aig-Imoukhuede) for her support, especially during the demutualisation process. She was with me even when my spirit was down. I also thank God for his mercies over me.
“Let me assure you that the boards and management of the NGX Group and its subsidiaries remain committed to the course of action and will leave no stone unturned in ensuring that we achieve even more notable feats in this new era.”
By Adedapo Adesanya
APM Terminals Apapa has reported a 31.5 per cent increase in export volumes for April 2025, reaching its highest monthly figure since operations began in 2006.
The terminal handled 8,687 twenty-foot equivalent units (TEUs) of export cargo, up from 6,606 TEUs in April 2024.
According to the terminal manager, Mr Steen Knudsen, this underscores a major milestone in Nigeria’s growing export momentum and reflects years of sustained growth and strategic investment in export infrastructure.
“It’s advantageous for Nigerian shippers when ships depart our ports fully loaded with exports. Preventing ships from leaving empty positively influences the overall cost of shipments into Nigeria,” he said.
Mr Knudsen attributed the growth to targeted operational improvements and alignment with national economic priorities.
“Our aim aligns with the Federal Government’s vision of transforming Nigeria into an export-driven economy. To support this, we launched a new rail service in February to expedite the movement of goods from the hinterland to Apapa port,” he revealed.
“We’ve expanded our yard capacity for exports and introduced dedicated truck lanes to streamline the process, reducing the time exports spend in the terminal and ensuring timely ship departures,” he added.
Mr Knudsen praised top agencies including Nigerian Ports Authority (NPA) and Nigerian Railway Corporation (NRC) for their support in enabling the terminal to focus on delivering top-tier services to its customers.
Since acquiring the Apapa concession, the company has made significant capital investments to boost capacity, efficiency, and overall terminal productivity.
In the last four years, APM Terminals Apapa has recorded a steady rise in export volumes. In 2022, the terminal handled 53,807 TEUs of exports. This number rose to 70,432 TEUs in 2023 and 77,631 TEUs in 2024.
As Nigeria’s largest container terminal and a subsidiary of the A.P. Moller Maersk Group, APM Terminals Apapa continues to play a central role in the modernization and expansion of the country’s maritime logistics network.
By Aduragbemi Omiyale
President Bola Tinubu’s Senior Special Assistant on Entrepreneurship Development in Communications, Innovation and Digital Economy, Ms. Chalya Shagaya, has commended Legend Internet Plc for listing its shares on the Nigerian Exchange (NGX) Limited.
Last month, the internet service provider (ISP) listed about two billion stocks valued at N12.4 billion on the local bourse, becoming the first indefinite telecom operator in Nigeria to do so, reflects strong investor confidence in nation’s digital economy.
Speaking during a visit to the headquarters of the organisation, Ms Shagaya praised the team led by Mr Bruce Ayonote for the achievement.
“The listing of Legend Internet Plc is not just a corporate achievement, it is a national win. It sends a powerful message to indigenous digital and tech companies that the capital markets are within reach,” Ms Shagaya stated.
The President’s aide further highlighted the alignment of this success with the Renewed Hope Agenda of her boss, emphasising the administration’s dedication to building a business-friendly environment driven by digital transformation and inclusive economic growth.
She also applauded the tech firm for its inclusivity efforts, noting that the majority of its executive and senior members of staff are women, describing this as a progressive example of gender representation in leadership, which aligns with national goals for women’s inclusion in economic development.
Ms Shagaya expressed her readiness to support Legend Internet and its affiliate company, Suburban, in future initiatives, including expansion of digital infrastructure, innovation policy development, and capacity building programs for entrepreneurs.
She also stressed the ripple effect such achievements could have on the broader ecosystem, from enhancing local content development and broadband access to creating jobs and fostering innovation, encouraging the organisation to further engage in mentorship, tech training, and entrepreneurship support initiatives.
“Legend Internet’s story is one of vision, resilience, leadership, and inclusivity. It is the kind of story this administration is proud to champion and we look forward to partnering with more companies that are pushing the boundaries of what is possible,” she stated.
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange recorded a 0.64 per cent increase on Monday, May 12, with its total value rising by N12.46 billion to N1.947 trillion from the N1.935 trillion quoted at the preceding session, as the NASD Unlisted Security Index (NSI) went up by 21.28 points to 3,326.06 points from 3,3204.74 points.
The expansion recorded during the first trading session of the week was influenced by price appreciation in the shares of three companies admitted to the platform.
Central Securities Clearing System (CSCS) went up by N2.25 to trade at N24.85 per unit versus last Friday’s N22.60 per unit, FrieslandCampina Wamco Nigeria Plc improved its value by 40 Kobo to settle at N40.43 per share from the previous closing value of N40.03, per share, and Geo-Fluids Plc added 10 Kobo to end at N1.91 per unit, on contrast to the preceding session’s N1.81 per unit.
During the trading day, the volume of shares bought and sold by the market participants decreased by 99.7 per cent to 673,233 units from the 231.6 million units traded in the previous trading day, the value of securities transacted by investors moderated by 98.9 per cent to N6.3 million from N606.4 million, and the number of deals retreated by 38.6 per cent to 35 deals from 57 deals.
When trading activities finished for the day, the most active stock by volume on a year-to-date basis remained Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million, followed by Geo-Fluids Plc with 266.4 million units valued at N470.5 million, and Okitipupa Plc with 153.6 million units sold for N4.9 billion.
The most traded stock by value on a year-to-date basis also remained Okitipupa Plc with the sale of 153.6 million units for N4.9 billion, trailed by FrieslandCampina Wamco Nigeria Plc with 20.0 million units valued at N768.5 million, and Impresit Bakolori Plc with a turnover of 534.0 million units worth N521.1 million.
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