Odu’a Investment Company Limited on Friday, January 19, 2024 began discussions with the Nigerian Exchage Limited(NGX) to be listed and raise capital from investors.
Group Chairman of the company, Otunba Bimbo Ashiru said this at the closing gong ceremony by the firm at the NGX in Lagos.
Otunba Ashiru said the move would not only strengthen the company’s financial position but also provide opportunities for investors to participate in its growth.
The Group Chairman also said that many dealing investors would be willing to partner with the company without hesitation, due to its diversified investment portfolio.
He mentioned that the company would soon sign a Memorandum of Understanding (MoU) with the NGX, to seal the partnership.
“We are at the Exchange to let the market stakeholders know that we are willing to be part of them and be a partner in progress.
“I want both parties to be part of a success story by working together as a team, and I believe we can be an achiever,” he said.
Commenting, Mr Jude Chiemeka, Acting Chief Executive Officer(CEO), NGX, expressed delight to have Odu’a Investment on the floor of the Exchange.
Mr Chiemeka commended the company for the initiative to list on the NGX while expressing optimism that the capital market would further improve.
He said that the NGX is a major contributor to the revenue drive of the Nigerian economy.
According to him, the top five listed companies on the NGX, in 2023, paid N262 billion as tax to the Federal Government and paid N926 billion as dividends to investors.
“The narrative shows that listed companies are more transparent and tax compliant.
“It is our hope that the government would continue to push policies in a bid to encourage companies to list and raise revenue.