Wednesday, July 28, 2021

    NGX rebrands market indices

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    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    By Itohan Abara-Laserian
    Lagos, June 28, 2021 The Nigerian Exchange (NGX) Ltd has informed market players of the rebranding of all its existing indices by changing the prefix from NSE to NGX, effective June 28.
    This is contained in a statement signed by Mr Olumide Orojimi, NGX Group, Head, Corporate Communications, made available to Naija247news on Monday in Lagos.
    Orojimi said the transition would leverage on the new brand identity of the Exchange.
    “There are currently 19 indices – either wholly-owned or co-branded – on NGX, servicing the investment management community along the lines of product development, benchmarking.
    The changes to the indices nomenclature were NSE All-Share Index to NGX All-Share Index; NSE-Main Board Index to NGX-Main Board Index; NSE 30 Index to NGX 30 Index and NSE CG Index to NGX CG Index, among others.
    He noted that the recent demutualisation led to the transformation of the Nigerian Stock Exchange to a non-operating holding company, the Nigerian Exchange Group Plc (NGX Group).
    Orojimi said the NGX Group comprised of three wholly-owned operating subsidiaries.
    “Consequently, the rebranding of the indices is in line with the NGX’s drive to standardise and ensure consistent expression of the brand across touchpoints.
    “From today, all indices from the Nigerian Exchange Limited will be rebranded with a pre-fix, NGX, to promote brand awareness and recognition.
    “Market players should note that this exercise will not affect the computation methodology of the indices,” he said.
    He said the NGX would continue to provide a platform for investors and issuers to meet their various investment objectives.
    “This rebranding effort is a testament to NGX’s commitment to providing an efficient market that reflects available information,” Orojimi added.
    Orojimi added that the rebranding effort was a testament to the NGX’s commitment to providing an efficient market that reflects available information,” he added .

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