By Aduragbemi Omiyale
In recognition of its positive impact on the stock market landscape, the Nigerian Exchange (NGX) Limited has announced VFD Group Plc as the winner of the Listing of the Year (Equity) award at the 2023 NGX Made of Africa (MOA) Awards.
VFD Group joined the nation’s main stock exchange in October 2023 by listing a total of 190,027,365 units of its shares at a unit price of N244.88, boosting the market capitalisation of the bourse by N46.5 billion.
At the NGX MOA Awards held on Wednesday, December 20, 2023, in Lagos, the organisers said the company clinched the award because its strategic move to list its equities on the Main Board of NGX marked a pivotal milestone, as this not only improved liquidity in the Nigerian capital market but also created opportunities for wealth creation.
Reacting to the recognition, the chief executive of VFD Group, Mr Nonso Okpala, said the organisation was excited to be among members of the flagship stock exchange in the country.
“Thank you very much for receiving us warmly once again. Our excitement persists from the earlier visit this year for the Listing, and we are doubly delighted to be here,” he said, commending the chief executive of the NGX, Mr Temi Popoola, for doing “a fantastic job.”
“I would like to extend my appreciation to the Exchange, under the commendable leadership of Temi Poopola, who has not only done a fantastic job but has also demonstrated great foresight in positioning the exchange for the future,” Mr Okpala stated.
According to him, “One of the remarkable initiatives, from our perspective, is the creation of the investment company category. This is a revolutionary step for the exchange, and we believe it will have a positive impact as the market recognizes the capacity and potential returns, along with the governance enforcement these companies bring.”
“This development will undoubtedly enhance trust in the market, leading to increased participation and involvement, which will ultimately be beneficial for the economy,” he added.
On his part, Mr Popoola explained that, “These awards serve as a platform to showcase the best the capital market has to offer, inspiring more private sector organizations, states and the federal government to list shares, issue debt securities, and inject fresh capital into the market.”
“Through NGX Made of Africa, we remain committed to encouraging and incentivizing our partners, and promoting inclusivity as we contribute to the development of the capital market,” he averred.
Dipo Olowookere 
Modupe Gbadeyanka