By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: SEC, PENCOM, and NGX Collaborate to Strengthen Securities Lending Landscape in Nigerian Capital Market
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

SEC, PENCOM, and NGX Collaborate to Strengthen Securities Lending Landscape in Nigerian Capital Market

Muhammad A. Aliyu
By Muhammad A. Aliyu
Published: August 9, 2023
Share
4 Min Read
NGX
NGX
SHARE

In a move aimed at bolstering investor engagement and securities lending operations in Nigeria’s capital market, the Securities and Exchange Commission (SEC), National Pension Commission (PENCOM), and Nigerian Exchange Limited (NGX) have reaffirmed their commitment to further developing the securities lending landscape.

This commitment was highlighted during the recently held NGX Securities Lending workshop, which served as a platform for diverse stakeholders to explore ways to deepen securities lending in Nigeria.

The virtual workshop, themed “Business Facilitation Act 2023 as a catalyst for deepening Securities lending in Nigeria,” was organized in collaboration with Central Securities Clearing System Plc (CSCS), Cardinalstone Partners, Stanbic IBTC Nominees, and the Pension Fund Operators Association of Nigeria (PenOps).

The event brought together a wide spectrum of participants, including retail and institutional investors, Pension Funds Administrators (PFAs), Fund Managers, ETF Issuers, regulators, and policymakers.

- Advertisement -

Jude Chiemeka, the Divisional Head of Capital Markets at NGX, emphasized the significance of the recent legislative developments in his opening remarks.

He pointed out that the Business Facilitation (Miscellaneous Provisions) Act, 2022, signed into law on February 14, 2023, marked a pivotal milestone.

This legislation resulted in crucial amendments to Section 89 (2) of the Pension Reform Act, permitting pension assets to be utilized in securities lending, subject to guidelines set forth by PENCOM.

Chiemeka highlighted that these amendments open up new horizons within Nigeria’s securities landscape, particularly benefiting institutional investors like Pension Fund Administrators.

- Advertisement -

He underscored NGX’s commitment to collaborating closely with PENCOM to deepen the securities lending domain for the betterment of Retirement Savings Account (RSA) holders and the broader pension industry.

This collaborative effort, he emphasized, aims to foster growth and development within the Nigerian capital market and extend its impact across the African continent.

Speaking on behalf of SEC, Abdulkadri Abass, the Director of Registration, Exchanges, Market Infrastructure, and Innovation, expressed the regulator’s dedication to maintaining a just, organized, and efficient market that prioritizes the interests of investors.

Abass emphasized that the provisions within the Business Facilitation Act, enabling Pension Fund Administrators to engage in securities lending, will undoubtedly enhance market depth and liquidity.

Ibrahim Kangiwa, the Head of Investment Supervision at PENCOM, echoed this sentiment, noting that the enactment of the Business Facilitation Act in 2023 empowered PENCOM to develop guidelines aimed at facilitating securities lending in collaboration with NGX and other stakeholders.

Kangiwa revealed that the commission is actively working on formulating these regulations and processes, with plans to unveil guidelines for PFAs by the end of the year.

Panel discussions during the workshop delved into various aspects of the securities lending landscape, with participants addressing challenges such as limited awareness and insufficient securities supply.

Panelists stressed the importance of increased collaboration among stakeholders to drive growth and activity within the securities lending space.

The CEOs of PenOps, Stanbic Nominees, CardinalStone Securities, and the President of the Fund Managers Association of Nigeria provided valuable insights during these discussions.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NGXPenComSEC
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByMuhammad A. Aliyu
Follow:
Muhammad Ameer Aliyu, is a prolific journalist who joined Okay Nigeria in 2015 with the aim staying committed to bringing more positive growth to the digital news platform. He is the Senior Editor at Okay Nigeria.
Previous Article Kehinde Ogundare, Country Manager, Zoho Nigeria Driving scalable growth through exceptional customer experience
Next Article Tinubu Hosts Ex-Governors, Wike and El-Rufai at Aso Rock

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities
News
Mike Ejeagha
Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95
News
Tinubu Welcomes Gov Eno to APC as Political Realignments Intensify Across States
Politics Top stories
Super Eagles Rally to Draw Against Russia in International Friendly
Sport
Manchester United Raises Annual Core Profit Forecast to Between £180m and £190m After Europa League Boost
Sport
- Advertisement -
Ad imageAd image

You May Also Like

Ange Postecoglou
Sport

Tottenham Hotspur Part Ways with Ange Postecoglou Despite Europa League Glory

Yusuf Abubakar
Yusuf Abubakar
June 6, 2025
News

Dangote Names Main Refinery Access Road “Bola Ahmed Tinubu Road” in Honor of President

Muhammad A. Aliyu
Muhammad A. Aliyu
June 6, 2025
L-R: Ify Okoye, Digital Creator; Linda Ejiofor-Suleiman, Actress; Stella Erebor, Head Internal Audit, Nigerian Communications Commission; Emanuella Samuel, Comedienne/Actress, Sylvia Musalagani, Safety Policy Manager, Africa, Middle East & Turkey (AMET), Meta, and Nicole Chikwe, founder of The Mummy Summit, during the launch of Instagram teen accounts in Lagos on Wednesday, June 4, 2025
Tech

Meta Launches Teen Accounts on Instagram in Nigeria to Enhance Online Safety for Young Users

Farouk Mohammed
Farouk Mohammed
June 6, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?