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21-880: Aviation Development Company plc opened in December 1984. In 1990 the company began to set up ADC Airlines, which became operations on 01 January 1991. In 1994 the airline was listed on the Nigerian Stock Exchange . Originally it offered domestic services to Calabar , Port Harcourt , Lagos , Abuja and Kaduna and regional services to Monrovia in Liberia , Freetown in Sierra Leone , Conakry in Guinea , Banjul in Gambia and Accra in Ghana . In 2000 it

42-514: A bid to promote transparency and trust in the capital market , NGX reconstituted the Investors' Protection Fund in 2012. The Fund is mandated to compensate investors who suffer pecuniary loss arising from the revocation or cancellation of the registration of a dealing member; insolvency, bankruptcy or negligence of a dealing member; or defalcation committed by a dealing member or any of its directors, officers, employees or representatives. The NGX

63-545: A computer network. In 2013, NGX launched its next-generation trading platform, X-Gen, intended to enable electronic trading for the retail and institutional segments. Trading on The Exchange starts at 9.30 a.m. and closes at 2.30 p.m. every Monday - Friday. Market prices, along with an All-Share Index, NGX 30, and Sector Indices, are published daily in The Stock Exchange Daily Official List, NGX CAPNET (an intranet facility), newspapers, and on

84-615: A value-weighted All-Share Index formulated in January 1984 (January 3, 1984, = 100). Its highest value of 66,371.20 was recorded on March 3, 2008. The Exchange also uses the NSE-30 Index, which is a sample-based capitalization-weighted index, as well five sector indices. These are the NSE Consumer Goods Index, NSE Banking Index, NSE Insurance Index, NSE Industrial Index, and NSE Oil/Gas Index. The Nigerian Exchange

105-564: A venture in Lagos in Nigeria in 1887. In 1897, the partnerships were absorbed into a new limited company, John Holt & Co. (Liverpool) Ltd . The company built up an extensive produce trade, in which palm oil, palm kernels, rubber and cocoa were exported from Nigeria to England. Imports included textiles from Lancashire and bicycles from Birmingham . A fleet of ships operated a fortnightly service from Liverpool to West Africa and

126-760: Is a member of the World Federation of Exchanges (FIBV). It is also an observer at meetings of the International Organization of Securities Commissions (IOSCO) and a founding member of the African Stock Exchanges Association (ASEA). On 31 October 2013, it joined the Sustainable Stock Exchanges Initiative (SSE). John Holt plc John Holt plc is a Nigerian conglomerate that participates in many areas of

147-577: Is regulated by the Nigerian Securities and Exchange Commission . Nigerian Exchange Group is led by a Group Managing Director/Chief Executive Office, a position currently held by Temi Popoola . Following the demutualisation and rebranding in 2021, NGX Group is made up of the following wholly owned subsidiaries: In October 2022, the NGX Board announced the appointment of Dr. Umaru Kwairanga as its new chairman. The Exchange maintains

168-1082: Is to enable businesses and investors to have reliable access to capital and provide secure saving systems and structure for effective and efficient business operations. The Nigerian Stock Exchange was initially founded on September 15, 1960 as the Lagos Stock Exchange. The exchange is the oldest existing stock exchange in West Africa. There were seven subscribers to the Exchange's Memorandum of Association: R.S.V. Scott, representing C.T. Bowring and Co. Nigeria Ltd.; Chief Theophilus Adebayo Doherty ; John Holt Ltd ; Investment Company of Nig. Ltd.(ICON); Sir. Odumegwu Ojukwu ; Chief Akintola Williams ; and Alhaji Shehu Bukar. Operations began officially on August 25, 1961, with 19 securities listed for trading. However, informal operations had commenced earlier in June 1961. Operations were initially conducted inside

189-537: The Central Bank building with four firms as market dealers: Inlaks, John Holt , C.T. Bowring, and ICON (Investment Company of Nigeria). The volume for August 1961, was about 80,500 pounds and it rose to about 250,000 pounds in September of the same year with the bulk of the investments in government securities. In December 1977 it became known as The Nigerian Stock Exchange, with branches established in some of

210-741: The demutualization of the NSE in 2021, NGX Group now has 3 subsidiaries - Nigerian Exchange Limited (NGX), the operating exchange; NGX Regulation (NGX RegCo, the independent regulation company; and NGX Real Estate (NGX RelCo). The operating exchange, NGX, is a multi-asset exchange with 393 listed securities, comprising 151 listed companies (8 Premium Board, 133 Main Board, 7 Growth Board and 3 ASeM companies), 157 Fixed Income securities, including Green Bonds and Sukuk (106 FGN, 8 State and 43 Corporate Bonds), 12 Exchange Traded Products, 4 Index Futures and 69 Memorandum listings, as at September 12, 2024. The NGX mission

231-470: The Company also had its own fleet of river craft. Apart from produce and merchandise, these river craft also carried cash. Where banks did not exist, John Holt had strongrooms. Even after banks were established, many Nigerians preferred to deposit their cash with John Holt. In 1970, the company was taken over by Lonrho . In 2001, Lonrho sold the company to a management-led group of investors. In 1961,

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252-715: The Liverpool company formed a locally incorporated subsidiary in Nigeria, John Holt Limited, to hold its Nigerian interests. It became a public company and was quoted on the Nigerian Stock Exchange in May 1974. The company's businesses in Nigeria include the assembly and distribution of power generators, leasing, distribution of fire-fighting equipment, logistics, boat building and fabrication of industrial and agricultural equipment. The parent company in Liverpool

273-526: The crash of Flight 053 . The 1990s saw a number of accidents with ADC Airlines planes. In August 1994 and July 1995 two DC-9-31s were written off in non-fatal accidents, both at Monrovia-Spriggs Payne Airport . On 7 November 1996 a Boeing 727-231 Flight 086 en route from Port Harcourt crashed into the lagoon in Lagos 30 kilometres (19 mi) from Lagos airport while trying to avoid a collision with another aircraft flying out of Lagos airport. The fatal flight

294-547: The economy. The Nigerian company is a subsidiary of John Holt & Co. (Liverpool) Ltd , a British company. A minority of the shares are traded on the Nigerian Stock Exchange . The company traces its origins to 1862 when John Holt , 20 years old at the time, with £27 in his pocket, sailed from Liverpool to take up an appointment as a shop assistant in a grocery store in Fernando Po (now part of Equatorial Guinea ). Five years later, he bought out his employer, and he

315-536: The following aircraft in October 2006: A variety of aircraft types have been operated in the past including: 1 Boeing 707-338C , 2 BAC One-Elevens , 3 Boeing 727s , 3 Douglas DC-9s , 1 Lockheed L-1011 TriStar and 1 ATR 42 . Nigerian Stock Exchange The Nigerian Stock Exchange ( NSE ), now Nigerian Exchange Group , is an integrated stock exchange group in Africa founded in 1961 in Lagos . Following

336-513: The major commercial cities of the country. In 2021, the demutualisation of the NSE was initiated which led to the emergence of the Nigerian Exchange Group (NGX Group) Plc and three subsidiaries – Nigerian Exchange Limited (NGX), NGX Regulation Limited (NGX RegCo), and NGX Real Estate Limited (NGX RelCo). Nigerian Exchange has been operating an Automated Trading System (ATS) since April 27, 1999, with dealers trading through

357-662: The stock market page of the Reuters Electronic Contributor System. Historical price and performance data are also posted on the NGX website. In order to encourage foreign investment into Nigeria, the government has abolished legislation preventing the flow of foreign capital into the country. This has allowed foreign brokers to enlist as dealers on the exchange, and investors of any nationality are free to invest. Nigerian companies are also allowed multiple and cross-border listings on foreign markets. In

378-527: Was decided to temporarily suspend ADC Airlines operations in order to re-capitalise the company. In February 2002 a Boeing 737-200 was acquired and operations restarted to Calabar. Since then three further Boeing 737s have joined the fleet. The airline is owned by the Aviation Development Company (ADC). ADC airlines operated over 120 flights a week on the following services (at February 2005): All flights have been suspended since

399-566: Was flown by decorated former Nigeria Airways captain, Captain Dafe. On 29 July 1997 a BAC One-Eleven 203AE landing at Calabar overshot the runway and an engine caught fire. There was one fatality. On 29 October 2006 a passenger plane, crashed near the Nigerian capital, Abuja . Local radio called on doctors to rush to the scene. One hundred and four people were on board the Boeing 737-200, which

420-414: Was joined by his brother Jonathan. In 1868, Jonathan bought a schooner, which enabled the brothers to open more trading posts in West Africa. In 1874 the brothers opened an office in Liverpool. In 1881, John entered the palm oil trade. In 1884, the brothers formed a partnership, John Holt and Company , to consolidate their business interests. Subsequently, John entered into new partnerships, including

441-432: Was traveling to Sokoto , and hospitals report seven survivors were found – six in a stable condition. The spiritual head of Nigerian Muslims, Sultan Maccido of Sokoto, died in the crash. His son, who is a senator, the deputy governor of Sokoto state and at least one other senator were also victims. The airline has since been suspended by the Nigerian government until further notice. The ADC Airlines fleet consisted of

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