December 02, (THEWILL) – Nigerian Exchange Limited (NGX) has called for increased collaboration among key players in the nation’s economy towards driving productive investments that would accelerate an elevated and digitised capital market.
The inaugural NGX Capital Markets Conference is the first in the series of events to catalyse the capital market of the future, that sustainably leverages technology to champion the infrastructural development and the economic growth of the country.
Themed the “The Future Ready Capital Markets; Innovating for Nigeria’s Sustainable Recovery”, the conference, which was held at Transcorp Hilton, Abuja, on Tuesday, 30th November, brought together leading policymakers, financial experts, business leaders, investors, international development partners and regulators, led by Vice President Yemi Osinbajo (SAN), to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing for the capital market.
Speaking after the conference, the Chief Executive Officer, NGX, Mr. Temi Popoola expressed his excitement about the deliberations, outcomes and agreed way forward by key speakers and panelists.
He said, “as a major propeller of the economy, we are proud to be at the forefront of this milestone which is a defining moment for Nigeria’s finance sector and the capital market specifically. The long list of key stakeholders from the public and private sector in attendance at today’s conference shows how open NGX is to leveraging relationships and partnerships to advance its digital transformation agenda.
“Taking this forward, NGX will continue to deepen and increase access to financial services for Nigeria through technology while championing the infrastructural development and the economic growth of the country.”
Held as a hybrid event, the inaugural capital market conference featured a long list of policy makers and business leaders across the public and private sectors in the country, including Professor Yemi Osinbajo, who headlined the conference; Chairman, BUA Group, Alhaji Abdul Samad Rabiu, Chairman of the Conference; Senate President, Federal Republic of Nigeria, Senator, Ahmad Ibrahim Lawan, represented by Senator Ibikunle Amosun.
Others included, Chairman, Senate Committee on Capital Market; Speaker, Federal House of Representatives, Honourable Femi Gbajabiamila; Chairman, House Committee on Capital Markets, Federal House of Representatives, Honourable Babangida Ibrahim; Dr. Kayode Fayemi, Governor, Ekiti State; Mr. Godwin Obaseki, Governor, Edo State; Alhaji Abubakar Sani Bello, Governor, Niger State; Group Chairman, Nigerian Exchange Group Plc, Otunba Abimbola Ogunbanjo; Chairman, NGX, Mr. Abubakar Balarabe Mahmoud; Mr. Aigboje Aig-Imoukhuede, Chairman, Coronation Capital; Mr. Oscar N. Onyema, OON, Group Managing Director/Chief Executive Officer, NGX Group Plc; Mrs. Cathrine Echeozo, Director, Guaranty Trust Holding Company (GTCO); Erelu Angela Adebayo, Chairperson, NGX Real Estate; and the Honourable Minister of Finance, Budget, and National Planning, (Dr) Zainab Ahmed, among others.
While delivering his address as Keynote speaker at the conference, Professor Osinbajo lauded the digitisation efforts of NGX and urged the Exchange to continue to collaborate with all government agencies and regulators, such as the Central Bank, the Securities and Exchanges Commission (SEC) and National Pension Comission (PENCOM) amongst others to ensure that the excessive risk premium of the capital market are abated and foreign investors are strongly reasurred of foreign investment mechanisms and other regulations that would help them channel their resources in and take them out with the least possible constratints.
“As a government we have shown our commitment to the growth of NGX and we want NGX to see itself as a critical player, even in negotiations on Africa-wide initiatives such the Africa Continental Free Trade Area (AFCTA). The macroeconomic environment and the regulatory regime present unprecedented opportunities, as heralded by the inaugural Capital Markets Conference, to bring in more retail investors, deepen the market and positively impact the livelihoods of Nigerans”, Osinbajo said.
Also speaking at the conference, Chairman, NGX, Mr. Abubakar Balarabe Mahmoud, SAN, said Nigerian capital market has the capacity to drive economic development and wealth creation through innovation and digitalisation.
“As shown by the conclusion of diverse speakers and panelists, an elevated capital market can strongly contribute to the government’s developmental agenda especially around the improvement of the economy”, Mahmoud said.
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