Aduragbemi Omiyale
By Aduragbemi Omiyale
The chief executive of the Nigerian Exchange (NGX) Limited, Mr Temi Popoola, has disclosed that efforts are being made to ensure the Nigerian capital market achieves the net zero emissions target.
Net zero emissions refers to achieving an overall balance between greenhouse gas emissions produced and greenhouse gas emissions taken out of the atmosphere.
At an event on Tuesday in Lagos, the NGX boss said the bourse wants to achieve the target by exploring partnerships with organisations on sustainability initiatives and overall market development.
“This aligns with our goal at NGX to do more for SMEs as we believe they are the engine of economic growth,” Mr Popoola said at the closing gong ceremony held to introduce the new Group Chief Executive Officer (GCEO) of Ecobank Transnational Incorporated (ETI), Mr Jeremy Awori, to the capital market.
“This has led to a few of our partnerships, including the Memorandum of Understanding with the Bank of Industry (BoI).
“I also want to commend ETI for its work on sustainability and for playing an important leadership role in setting an example for the market,” he said further.
The CEO stated that the exchange had notable plans in sustainability, especially around carbon emissions reduction and was exploring partnerships with organisations like ETI to move the capital market further on the path to net zero.
On his part, Mr Awori explained that Nigeria, being the largest economy in the African region, was a core market for SMEs.
“As a pan-African bank, we are working on tapping value from the African Continental Free Trade Area Agreement (AfCFTA).
“We will continue to create more value in the country amidst the developments in technology, payments and SMEs.” Mr Awori said.
Commending NGX for its leadership role and innovations, including the NGX Technology Board, Exchange Traded Funds market development, and sustainability drive, the GCEO stated that ETI would actively work with the bourse on developmental initiatives.
“We will be building up our corporate and SME banking businesses as we are focused on growth transformation and maximising value for shareholders and investors,” he stated.
Also speaking, the chairman of Ecobank Nigeria, Mrs Bola Adesola, and the Managing Director of Ecobank Nigeria, Mr Bolaji Lawal, both stated that the domestic business would partner with NGX and was open to more collaborations.
