By Dipo Olowookere
Information reaching us indicates that all is now ready for the third edition of the Nigerian Stock Exchange (NSE) Market Data Workshop slated for Friday, October 19, 2018 in Lagos.
The event is put together by the NSE in partnership with Sterling Bank Plc and this year’s programme will take place at the Civic Center, Victoria Island, Lagos and is themed Market Data: Digitization, Disruption and Financial Inclusion.
According to a statement issued by the NSE, this year’s workshop will bring together Investors, Securities Exchanges, Market Regulators, Government Agencies, Policy Makers, Market Data Aggregators, Broker-Dealers and other capital market stakeholders to deliberate on the future of capital markets and financial systems in the wake of disruptive fourth industrial revolution technologies.
The one-day event, which is an exhibition style workshop, will feature presentations and panel discussions from thought leaders within the finance and technology sub-sectors. It will address the future of investing in a world of digitization, strategic partnerships for wider financial inclusion, and the need for customer centricity in digital transformation.
The event will provide businesses within the financial services sector the necessary insights required to key into innovative technology and harness it for enhanced customer experience.
Some of the confirmed speakers for the event include Ms Mary Uduk, Acting Director General, Securities and Exchange Commission (SEC); Mr Lanre Osibona, Senior Special Assistant to President Muhammadu Buhari on ICT; Mr Olayinka Oni, Chief Information Officer, Sterling Bank Plc; Mr Uchenna Igwebuike, Chief Executive Officer, Zanibal Solutions Limited; and Mr Agbe Ilusemiti, Technical Accounts Manager for Thomson Reuters, West Africa.
According to the Acting Divisional Head, Trading Business, NSE, Mr Femi Onifade, “The conference will provide an invaluable opportunity to engage industry experts about key disruptive technologies that are integral to the growth of the financial services sector, and which will indeed define the future of work, as well as the balance of economic power.
“These technologies will catalyse changes within economies and businesses at an unprecedented pace and scale than any of the preceding industrial revolutions. We hope that the event will provide the necessary insights and produce new partnerships that will challenge conventional methods and enhance our collective readiness to evolve and compete favourably on a global scale”.
Also speaking about the event, Mr Afeez Ramoni, Acting Head, Market Services Department, NSE said: “As a result of the convergence of web, mobile, cloud, IoT, big data as well as the increasing need for access to financial information anytime and everywhere, enterprises across all markets are witnessing disruption through digital transformation in every geography. This year’s edition of the workshop presents an opportunity for all stakeholders to share ideas on the best options to leverage in order to deepen financial inclusion”.
Other sponsors of the 2018 NSE Market Data Workshop include Zanibal Solutions, Gems Consult Limited, Meristem Group, Neulogic Solutions, CSL Stockbrokers Limited, Wapic Insurance Plc., Eagle Global Markets Limited, Central Securities Clearing System Plc. and NTEL.
NGX All-Share Index Outperforms Inflation Over Three Years
The 3-year trailing performance of the All-Share Index (ASI) of the Nigerian Exchange (NGX) Limited surpasses the average inflation during the same period.
The annual inflation measured by the Consumer Price Index (CPI) released in September by the National Bureau of Statistics (NBS) was 20.52 per cent in August 2022.
Meanwhile, the NGX ASI, a market capitalisation weighted index of all companies listed on the NGX’s platform, had a year-to-date performance of 15.68 per cent during the same period. This could be misleading about the market performance until you view it through a longer-term lens.
British Economist, Benjamin Graham, made a quote popularly used by Warren Buffett, the Fund Manager of Berkshire Hathaway Inc and widely regarded as the best living investor: “Markets are a voting machine in the short term, and a weighing machine in the long run.” On a 3-year trailing basis, the NGX ASI has outperformed the CPI average in the same period, ensuring that investors with a longer-term hold on their investments remain in the positive region.
Analysis of data of closing prices gathered from the NGX’s website showed that the index has a 3-year moving average of 22.97 per cent, compared to an inflation average of 15.72 per cent.
The year 2022 has been a slow year for global stocks due to volatility resulting from the hiking of interest rates by central banks in the United States and Europe amidst inflationary pressures.
The NGX ASI’s 15.62% YTD return is a significant positive performance compared to the US S&P 500, which has plunged by 22.46% or the FTSE 100, which has declined by 7.68%, according to Google Finance. The local bourse has exhibited resilience and insulated investors from negative return on investment over three years.
Laolu Martins Was Minority Shareholder of Bukka Hut—Management
By Modupe Gbadeyanka
The management of an online restaurant in Nigeria, Bukka Hut, has clarified that one of its late directors, Mr Laolu Martins, was a minority shareholder in the company.
On Wednesday, it was reported that the deceased breathed his last in Lagos. He was said to have co-founded the firm with Mr Rasheed Jaiyeola, who is the Chief Executive Officer.
The deceased was reportedly invited to join the firm by Mr Jaiyeola, who jointly owns majority shares of the company with his wife and sister.
Mr Jaiyeola and Mr Martins were co-owners of the Nigerian International Securities Limited (NISL) before the former resigned from his position as director to focus on Bukka Hut in 2016.
According to the statement from the organisation, Mr Jaiyeola established Bukka Hut but only invited the deceased and two others to invest in the eatery when it was established.
“To clarify, Rasheed Jaiyeola is the founder/CEO of Bukka Hut, a proudly Nigerian brand he built from inception in August 2011 from one outlet to 24 outlets comprising of restaurants, lounges and suya and grill spots, and a learning facility, BH Academy, as at today. He jointly owns the majority shares of the company with his wife and sister.
“Bukka Hut is not a one-man business as there are two other shareholders/directors, but they are not involved in the daily management of the business.
“Rasheed and the late Olaolu Martins were co-owners of Nigerian International Securities Lid (NISL), and naturally, Laolu was one of the three people he invited to invest in Bukka Hut when he founded it in 2011; Rasheed resigned from NISL as a director in 2016 to focus solely on building Bukka Hut while Olaolu remained the MD/CEO of NISL and its related businesses,” the statement explained.
Mr Martins was reported to have died from suicide, but fresh information revealed that he slumped at Lenox Mall after a cardiac arrest and was taken to a hospital in Lekki, where he passed on.
Usman Laments Nigeria, Saudi Arabia Trade Volume of $5m
By Aduragbemi Omiyale
The president of the newly-establishment Nigeria-Saudi Arabia Chamber of Commerce, Industry, Mines and Agriculture, Mr Ibrahim Usman, has lamented the low trade volume between both countries despite their historical relationship.
Mr Usman expressed this frustration when he visited the Minister of Information and Culture, Mr Lai Mohammed, at his office in Abuja.
He said at the moment, the trade volume between Nigeria and Saudi Arabia is about $5 million, promising to deepen the relations between the two countries.
“And whereas many Saudi investors are looking out for profitable investment windows in friendly countries like Nigeria, our businesses have been unable to capitalise on such opportunities due to lack of an organised, reliable, safe and very secure private sector platform like a chamber of commerce,” he said.
Mr Usman said a 60-member inter-ministerial delegation from Saudi Arabia will be in Nigeria next week for the second session of the Nigeria-Saudi Arabia Joint Commission, which will further create opportunities for the chamber to set up trade missions.
On his part, Mr Mohammed praised his guest for his effort to establish the organisation after over 10 years of trial, saying he has proven himself as a man of vision and deep conviction.
“Clearly from your presentation, it’s clear that the major objective is to change the narrative and ensure that the relations between Saudi Arabia and Nigeria should not be seen just from the narrow prism of Hajj and Umrah pilgrimage, but from the prism of two very important nations of the world creating a bridge through better cooperation for the two countries and their citizens,” the Minister said.
Mr Mohammed described the chamber as a clearing house for proposals from business people from the two countries in order to open new vistas for trade opportunities.
He said the absence of such a chamber has led to the decline in the volume of trade and also bred trust deficit between business people from the two countries.
“The absence of this vehicle has led to loss of businesses between the two countries and it has also aggravated the trust deficit between them,” he said.
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