NGX Group’s gross earnings up 57.4% to N11.8 bn

Nigerian Exchange Group Plc has recorded gross earnings of N11.8 billion in its full year results 2023 up by 57.4% from N7.5 billion in in 2022.

This growth was attributed to performances in core revenue and other income segments.


The company also announced in its full-year audited financial statements for the year ended 31 December 2023, a profit after tax of N5.2 billion and a declaration of a final dividend of N1.5 billion.

Notably, transaction fees rose by 52.6%, driven by increased trading activities, while listing fees and rental income increased by 42.2% and 41.8%, respectively. Strategic investments also contributed to a 5.4% boost in treasury investment income.

Other income, representing 29.7% of gross earnings, witnessed an unprecedented rise of 163.6%, reaching N3.504 billion. Key contributors to this surge were market data income, which increased by 44.1%, and an exceptional 304.8% rise in other operating income.

In light of the robust operational performance, the Board approved a final dividend of N1.5 billion at 75 Kobo per share for the year ended 31st December 2023. This is in addition to an interim dividend of N495.53 million at 25 Kobo per share paid in August 2023, bringing the total dividend for FY 2023 to N1 per share.

Commenting on the dividend, the Group Chairman, NGX Group, Alhaji (Dr) Umaru Kwairanga, expressed profound satisfaction and optimism, stating, “Today’s announcement of both the financial results and dividend pay-out is a testament to NGX Group’s unwavering commitment to maximising shareholder value and the resilience of our financial position. We are elated to reward our shareholders, and this underscores our confidence in the sustainable growth of the Company. I would like to reassure all stakeholders that the Board and Management are focused on positioning NGX Group as the premier financial market infrastructure in Africa.”


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