NGX will on Thursday 24th March launch the Corporate Governance Triangle, an initiative of the Corporate Governance and Compliance Committee of the Nigerian Bar Association Section on Business Law (NBA-SBL), NGX and the Institute of Directors, Nigeria (IoD).
The Corporate Governance Triangle according to the NGX was initiated to foster good corporate governance in Nigeria for members of the business law community, directors and managers of businesses, shareholders and other corporate stakeholders.
As key stakeholders in the corporate world, the CCGC, NGX, and IoD are in a position to influence their members, share best practices and develop frameworks that will enhance corporate governance in Nigeria.
Meanwhile, on the floor of the exchange, investors transacted 213.570 million shares worth N2.677 billion across 4,485 deals. The twin market indicators both reduced marginally by 0.07 percent with market capitalization shedding N17 billion to close at N25.466 trillion while the index dropped 30.74 points to close at 47,251.93 basis points.
On the price movement tables thirty-eight stocks recorded price change with 16 appreciating while the remaining 22 others reduced in price value. Leading the gainers’ table was Guinness with price gain of 10 per cent to close at N71.50 followed by Royal exchange increase of 8.33 per cent to close at N1.30. Others on the top five were Mutual Benefit Assurance, Lasaco, and Livestock with price gain of 8.00 percent, 6.00 percent and 5.63 percent to close at N0.27, N1.06 and N1.69 respectively.
On the losers table, more stocks witnessed price drop with heavier price drops. RT Briscoe led the list with a drop of 10 percent to close at N0.72 followed by Berger paint with price drop of 9.64 percent to close at N7.50. Others on the list were Ikeja Hotel, Champion Breweries and UPDC with price drop of 8.76 percent, 8.07 percent and 8.00 percent to clos at N1.25, N2.05 and N0.92 respectively.
