- NGX lifts suspension on shares of Oando Plc
Trading on the Nigerian stock market further reduced on Monday as the bearish tone set the previous week prevailed resulting in the All-Share Index dropping by 0.54 percent to 96,907.98 points.
Consequently, the market capitalization also fell by 0.54 percent to ₦59.04 trillion, resulting in investor losses of approximately ₦317.5 billion due to intensified sell-offs.
The downturn saw 17 stocks advance while 30 declined. Leading gainers included JOHN HOLT, UBA, EUNISELL, STERLINGNG, and PZ, while top decliners were CAVERTON, ARADEL, OANDO, FTNCOCOA, and VERITASKAP.
Sectoral performance was mixed, with the banking and consumer goods sectors rising by 1.13 percent and 0.21 percent, respectively, while the insurance and oil/gas sectors declined by 0.75 percent and 0.16 percent. The industrial goods sector remained steady at 0 percent.
Trading activity was strong, with the number of deals and traded volume increasing by 17.98 percent and 37.68 percent, respectively, though trading value declined by 10.15 percent. In total, 1,223.7 million shares were traded across 10,386 deals, amounting to ₦14.23 billion in value. CONHALLPLC led in trading volume, with 567 million units valued at ₦822.5 million across 23 deals.
NGX lifts suspension on shares of Oando Plc
Meanwhile, the Nigerian Exchange has announced that the trading suspension on the shares of Oando Plc was lifted today, Monday. This decision follows the company’s submission of its Audited Financial Statements for the year ended 31 December 2023, alongside its Unaudited Financial Statements for the periods ending 31 March 2024 and 30 June 2024.
The suspension, initially imposed in accordance with Rule 3.1 of the NGX’s Rules for Filing of Accounts and Treatment of Default Filing (Default Filing Rules), was a regulatory response to Oando’s delay in filing its required financial disclosures.
According to the Default Filing Rules, if an issuer does not submit relevant accounts by the end of the Cure Period, the NGX will:
“Issue a Second Filing Deficiency Notification to the issuer within two business days following the Cure Period’s expiration; Suspend trading on the issuer’s securities; and Notify the Securities and Exchange Commission (SEC) and the market within 24 hours of the suspension.”
Following Oando’s compliance with these disclosure requirements, and under Rule 3.3 of the Default Filing Rules—which permits the lifting of a trading suspension once the Exchange verifies that the issuer’s accounts meet all applicable rules—the NGX has now restored trading access to Oando’s shares.
Access Bank wins best digital, website at 2024 digital jurist awards
Also, Access Bank PLC has been named the 2024 Best Digital Award Winner in the Commercial Banks Category at the Digital Jurist Awards, organized by Phillips Consulting (pcl.).
In addition to this top honour, the Bank also secured the Best Website Award, achieving an impressive score of 201 points for its engaging and user-friendly digital experience.
Access Bank’s cumulative score of 380 points reflects its excellence across digital touch points, including its website, web portal, mobile app, and social media.
Commenting on the recognition, Amaechi Okobi, Chief Communications Officer of Access Holdings PLC, said, “We are honoured to receive the Best Digital and Best Website Awards at this year’s Digital Jurist Awards. At Access, our focus on digital innovation is driven by our commitment to deliver seamless, secure, and customer-centric solutions across all touch points. This recognition validates our ongoing efforts to enhance our digital platforms, making financial services more accessible and efficient for our customers. We thank Phillips Consulting for recognising our efforts and will continue to raise the bar in digital excellence.”
Phillips Consulting has long served as a development partner to Nigerian financial institutions and other organisations with an online presence. Leveraging its proprietary Digital Jurist platform, the firm has conducted assessments of digital touch points in various sectors, from financial services and insurance to telecommunications and government agencies, over the past 17 years.
Originally established as Web Jurist, the platform was reimagined as Digital Jurist to assess new and diversified digital channels in the evolving digital economy.
Digital Jurist’s evaluation framework examines a range of factors, including user experience, accessibility, performance, functionality, security, customer service, support, marketing, and content engagement across digital platforms.
These awards reinforce Access Bank’s leadership in digital banking, adding to recent accolades including 2024 Best Digital Bank and Best Mobile Banking App by World Finance, Best Mobile Banking App and Best Digital Bank by The Digital Banker Awards, and Best Digital Banking Initiative at the Global Retail Banking Innovation Awards 2024.
