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NGX Group
On this page
Company details
- Legal name
- Nigerian Exchange Group Plc
- Listing
- NGXGROUP on the Nigerian Exchange, active · ISIN NGNGXGROUP09 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · annual report, final status not established · source
Read with these figures
- Annual report not confirmed as final. The published copy is unsigned. The FY2025 figures come from it.
Full wording and sources
Annual report for 2025: final status not established
The independent auditor's report (opinion PDF p29, unmodified) ends on PDF p34 with the typeset name 'Kanayo Echena, FRC/2012/PRO/ICAN/004/0000000159, For Ernst & Young, Lagos, Nigeria, 27 February 2026' and an ICAN seal (no. 0831320), but no handwritten signature is visible (page image). The statement of financial position states approval by the Board on 24 February 2026 and carries visible signatures of Dr. Umaru Kwairanga (Chairman), Mr. Temi Popoola (Group Managing Director/CEO) and Mr. Bayo Opatade (Group Chief Financial Officer) (PDF p36, page image).
Source: The Nigerian Exchange Group Plc Annual Report 31 December 2025 Consolidated and Separate Financial Statements (dated 2026-02-27)
-
Revenue
NGN 23.0 billion
22,980,686 NGN thousands · p35
+36.0% vs 2024
-
Operating profit / (loss)
NGN 11.8 billion
11,826,349 NGN thousands · p35
+44.4% vs 2024
-
Profit / (loss) for the year
NGN 10.5 billion
10,479,282 NGN thousands · p35
+5.6% vs 2024
-
Total assets
NGN 71.0 billion
71,049,766 NGN thousands · p36
+4.4% vs 2024
-
Total equity
NGN 55.2 billion
55,203,793 NGN thousands · p36
+13.7% vs 2024
-
Cash from operations
NGN 2.88 billion
2,881,387 NGN thousands · p39
−66.9% vs 2024
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — annual report, final status not established; reported for the year · source
- FY2024 — annual report, final status not established; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Revenue | 22,980,686 | 16,892,913 |
| Other income /(loss) | 3,226,262 | 7,097,631 |
| Total Income | 26,206,948 | 23,990,544 |
| Credit (loss) / write back on financial assets | (61,990) | 251,548 |
| Personnel expenses | (5,253,433) | (4,451,344) |
| Operating expenses | (7,702,715) | (8,800,430) |
| Depreciation of property and equipment | (571,816) | (439,256) |
| Amortization of intangible assets | (25,549) | (44,250) |
| Interest expense on borrowings | (763,013) | (2,314,816) |
| Depreciation of ROU assets1 | (2,083) | (2,083) |
| Total expenses2 | (14,380,599) | (15,800,631) |
| Operating profit | 11,826,349 | 8,189,913 |
| Share of profit of equity accounted investees | 3,724,177 | 5,419,594 |
| Profit before minimum income tax3 | 15,550,526 | 13,609,507 |
| Minimum income tax4 | –5 | (28,412) |
| Profit before income tax expense | 15,550,526 | 13,581,095 |
| Income tax expense | (5,071,244) | (3,660,693) |
| Profit for the year | 10,479,282 | 9,920,402 |
| Other comprehensive income / (loss) | 3,062,624 | 649,809 |
| Total comprehensive income for the year | 13,541,906 | 10,570,211 |
- Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.
Notes and alternative reported figures (4)
- “Depreciation of ROU assets” is an issuer-specific line, not mapped to a shared definition: Right-of-use depreciation, printed apart from property and equipment depreciation.
- “Total expenses” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of credit loss, personnel, operating, depreciation, amortisation and interest expenses.
- “Profit before minimum income tax” is an issuer-specific line, not mapped to a shared definition: Printed subtotal before minimum income tax.
- “Minimum income tax” is an issuer-specific line, not mapped to a shared definition: Minimum tax, printed apart from income tax expense (note 14).
Balance sheet
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash and cash equivalents | 2,552,384 | 870,779 |
| Trade and other receivables | 341,192 | 184,491 |
| Intercompany receivables1 | –2 | –2 |
| Prepayments3 | 441,244 | 491,155 |
| Investment securities | 1,703,536 | 4,844,970 |
| Total current assets | 5,038,356 | 6,391,395 |
| Trade and other receivables4 | 311,548 | 492,901 |
| Investment securities | 26,101,171 | 23,477,520 |
| Investment in associates | 33,984,126 | 33,134,263 |
| Property and equipment | 5,467,179 | 4,418,714 |
| Intangible assets | 106,414 | 54,353 |
| Right-of-use assets | 40,972 | 71,336 |
| Total non-current assets | 66,011,410 | 61,649,087 |
| Total assets | 71,049,766 | 68,040,482 |
| Other liabilities | 6,527,277 | 7,150,550 |
| Deferred income5 | 1,900,572 | 1,542,892 |
| Term borrowings | –6 | 798,258 |
| Current Income tax payable | 4,767,121 | 3,758,962 |
| Lease liabilities | –6 | 1,221 |
| Total current liabilities | 13,194,970 | 13,251,883 |
| Term borrowings | –7 | 4,994,099 |
| Retirement benefit obligations | 182,244 | 121,242 |
| Provisions | 405,744 | 405,744 |
| Lease liabilities | –7 | 27,060 |
| Deferred tax liabilities | 2,063,015 | 693,285 |
| Total non-current liabilities | 2,651,003 | 6,241,430 |
| Total liabilities | 15,845,973 | 19,493,313 |
| Share capital | 1,102,310 | 1,102,310 |
| Other reserves | 5,538,099 | 2,580,037 |
| Retained earnings | 48,563,384 | 44,864,822 |
| Total equity | 55,203,793 | 48,547,169 |
| Total liabilities and equity | 71,049,766 | 68,040,482 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_assets.
- Printed “-”, read as nil: subtotal_arithmetic: bs.current_liabilities.
- Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (4)
- “Intercompany receivables” is an issuer-specific line, not mapped to a shared definition: Current asset line (note 17); dashes in the Group columns.
- “Prepayments” is an issuer-specific line, not mapped to a shared definition: Current asset line (note 18).
- “Trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Non-current asset line (note 16).
- “Deferred income” is an issuer-specific line, not mapped to a shared definition: Current liability line (note 24i).
Cash flow
| Line (as printed) | FY2025Annual reportreported for the year | FY2024Annual reportcomparative in FY2025 filing |
|---|---|---|
| Cash generated from operations (unlabelled subtotal) | 6,723,212 | 9,324,545 |
| Income tax paid | (3,828,037) | (589,643) |
| Retirement benefit obligation paid1 | (13,788) | (22,177) |
| Net cash flows from/(used in) operating activities | 2,881,387 | 8,712,725 |
| Interest received | 2,106,772 | 2,265,767 |
| Dividend received2 | 3,446,706 | 2,937,534 |
| Dividend paid | (6,613,860) | (1,486,605) |
| Maturity / (Purchase) of investments - financial assets3 | 8,107,818 | (6,126,608) |
| Acquisition of property and equipment | (1,759,478) | (1,349,247) |
| Proceeds from the sale of property and equipment | 140,500 | 160,287 |
| Acquisition of intangible assets | (77,610) | –4 |
| Net cash flows from/ (used in) investing activities | 5,350,848 | (3,598,872) |
| Repayment of borrowings- principal | (5,035,250) | (8,348,583) |
| Interest paid | (1,520,120) | (2,474,900) |
| Net cash flows used in financing activities | (6,555,370) | (10,823,483) |
| Net increase / (decrease) in cash and cash equivalents | 1,676,866 | (5,709,630) |
| Cash and cash equivalents at the beginning of the year | 870,779 | 6,577,579 |
| Effect of movements in exchange rates on cash held | 4,739 | 2,830 |
| Cash and cash equivalents at end of year | 2,552,384 | 870,779 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (3)
- “Retirement benefit obligation paid” is an issuer-specific line, not mapped to a shared definition: Operating cash outflow after working-capital changes.
- “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing cash inflow (note 35(vi)).
- “Maturity / (Purchase) of investments - financial assets” is an issuer-specific line, not mapped to a shared definition: Investing cash flow, net (note 35(vii)).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend paid |
(6,613,860) | NGN thousands | Annual report, p39 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid |
(1,486,605) | NGN thousands | Annual report, p39 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
The Nigerian Exchange Group Plc Annual Report 31 December 2025 Consolidated and Separate Financial Statements
Year ended 31 December 2025 · Annual report · final status not established
Audit: Ernst & Young, Lagos, unmodified opinion
Auditor's sign-off: Kanayo Echena (FRC/2012/PRO/ICAN/004/0000000159), for Ernst & Young (name printed)
Final status: The independent auditor's report (opinion PDF p29, unmodified) ends on PDF p34 with the typeset name 'Kanayo Echena, FRC/2012/PRO/ICAN/004/0000000159, For Ernst & Young, Lagos, Nigeria, 27 February 2026' and an ICAN seal (no. 0831320), but no handwritten signature is visible (page image). The statement of financial position states approval by the Board on 24 February 2026 and carries visible signatures of Dr. Umaru Kwairanga (Chairman), Mr. Temi Popoola (Group Managing Director/CEO) and Mr. Bayo Opatade (Group Chief Financial Officer) (PDF p36, page image).
- Document date
- 27 Feb 2026
- Auditor's report
- 27 Feb 2026
- Board approval
- 24 Feb 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · NGN thousands (printed “In thousands of Naira”)
- Amortisation of intangible assets is printed (25,549) in the Group income statement (p35) but 6,527 among the Group cash-flow adjustments (p39). Not transcribed from the cash-flow statement; noted only.
- Auditor's signature block (p34): typeset name, FRC number, firm, place and date with an ICAN seal; no handwritten signature is shown, so the signature is recorded as name printed, unsigned.
- Dividend paid (6,613,860) (2024: (1,486,605)) is printed within investing activities (p39); the statement of changes in equity records dividends paid of (6,780,720) for 2025 (p37).
- Key audit matter (consolidated statements): 'Revenue Recognition around transaction and listing fee income' — N19.88 billion of N22.98 billion revenue (p30). No going-concern or emphasis-of-matter paragraph.
- Earnings per share printed in naira: basic and diluted 4.75 (2024: 4.50) (p35).
Technical details
- File
- 119 pages, with a text layer
- SHA-256
8879754fb9b64c4e39e16f8eb64a824be595764561bcc1dabc4f7e48e4499ecc- Entity as printed
- The Nigerian Exchange Group Plc ("the Company") and its subsidiaries (together "the Group")
- Issuer copy
- retrieved 2026-10-08T18:02:49Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.