The Chairman of Nigerian Exchange NGX Mr. Abubakar Mahmoud (SAN) has said NGX as the Nigeria’s premier securities exchange, remains strategically positioned to support the aspirations of its stakeholders and the Nigerian economy as a whole.
The chairman made this statement in Lagos at the NGX Chief Executive Officer Roundtable with a theme “Creating the Enabling Ecosystem for Accessing Capital from the Nigerian Capital Markets”
In his opening remark he said we convened this Roundtable with the ultimate objective of enhancing the listing experience for listed companies and providing useful insights to prospective companies.
He said “NGX, as Nigeria’s premier securities exchange, remains strategically positioned to support the aspirations of its stakeholders and the Nigerian economy as a whole and we believe the deliberations from the panel sessions will help us improve our operations and offerings in listings experience, market development, advocacy, and investment opportunities”
Presenting keynote address, the Minister of Industry, Trade, and Investment,, Otunba Adeniyi Adebayo said that the Federal government is working diligently to improve the economy through diversifying the economy and strengthening institutions and structures. He also said, “as more of our startup companies grow and mature, we must ensure that there is access to a range of financial options to support their expansion plans”.
The Minister of Finance, Budget and National Planning, Dr. (Mrs) Zainab Shamsuna Ahmed in a goodwill message, said that as a nation faced with the burden of economic recovery as a result of the global pandemic, the capital market is an efficient, reliable solution for businesses to raise capital and for investors to grow wealth.
Ahmed who was represented by the Permanent Secretary at the Ministry of Finance, Alhaji Aliyu Ahmed, said the theme of the roundtable is apt and will contribute to providing a deep, liquid and, integrated capital market which will deepen the alternative sources of finance and boost investors’ confidence to invest long term in the capital market.
On his part, the Director General, Securities and Exchange Commission, Mr. Lamido Yuguda noted that the theme of the roundtable resonates with the mandate of the Securities and Exchange Commission in developing and regulating the market while protecting investors. “The Commission welcomes the sound initiatives of NGX as it continues to engage with experts on for changes that will lead to a more desired expansion of the market”, he added.
Chief Executive Officer of, Nigerian Exchange Limited, Mr. Temi Popoola, reassured stakeholders of NGX’s commitments to improving issuers’ experience by providing a platform that enables companies to raise capital more efficiently whilst protecting investors. “As part of efforts to improve the listing experience of current issuers and attract new listings, NGX has intensified efforts with policymakers to shape reforms and policies that are supportive of listings and the capital market at large. We are strengthening the value proposition for corporates to consider the capital markets as a platform for raising capital and working to ensure we are competitive when compared to options that are available to issuers. We are, therefore, actively involved in contributing to policy formulation and advocacy to ensure an enabling environment for listings, including, working with several stakeholders to ensure that the time to market and the costs for listing are optimized.”
