Nigerian Exchange Limited (NGX), in collaboration with the Chartered Institute of Stockbrokers and the Association of Securities Dealing Houses of Nigeria (ASHON), has expressed their readiness to work alongside the Federal Government through the Ministry of Finance Incorporated (MOFI) to facilitate market development and listings.
The commitment to collaboration was announced during the Closing Gong Ceremony held at the NGX trading floor in Lagos, which honored MOFI’s engagement with capital market stakeholders.
Temi Popoola, CEO of NGX, lauded MOFI for its role in safeguarding government investments and assets.
He emphasized that NGX is eager to partner with MOFI to facilitate capital access for listed entities and contribute to the growth of Nigeria’s capital market.
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“This partnership is an opportunity for the capital market to actively play a key role in growing the economy under President Bola Tinubu’s agenda. This is an exciting time and you may have seen that our local investors really stepped up their participation in the market recently. We think that with a lot of foreign capital, together with the strengthening and enhancements that have been done, that the market is ready to support many initiatives from the government. We really look forward to working together towards the support in developing our markets,” he said.
Dr. Armstrong Takang, CEO of MOFI, stressed the importance of maximizing the value of government investments and assets to mobilize investment capital in key sectors of the economy. He aimed to grow MOFI’s asset under management (AuM) to N100 trillion.
He said: “MOFI intends to collaborate with NGX to guide companies in meeting governance, operational, and reporting requirements necessary for listing on the Exchange. This move also contributes to MOFI’s objective of professionalizing Government Owned and Government Linked entities (GOE and GLEs).”
Oluwole Adeosun, President of the Chartered Institute of Stockbrokers (CIS), expressed the institute’s commitment to cooperating with MOFI, particularly in capacity development and other market-related initiatives.
Sam Onukwue, Chairman of ASHON, highlighted that the partnership’s positive impact on the Nigerian economy would extend beyond financial gains to encompass broader socio-economic advantages that contribute to sustainable development.
Tinuade Awe, CEO of NGX Regulation Limited (NGX RegCo), emphasized NGX RegCo’s dedication to collaborating with MOFI on transparency, investor protection, and mitigating systemic risks.