NGX, Stakeholders to Suggest Ways to Deepen ETFs Ecosystem

By Aduragbemi Omiyale

On Wednesday, April 19, 2023, capital market stakeholders will be expected to recommend strategies to be adopted by regulators for a robust Exchange Traded Funds (ETFs) market.

The ETFs ecosystem in Africa, and in Nigeria in particular, has been largely untapped, with investors struggling to understand how to explore the opportunities in it.

But next Wednesday, the Nigerian Exchange (NGX) Limited will organise a workshop to address the major challenges and opportunities in the space. Interested participants can register through this link http://bit.ly/ngx-etfs-forum.

The NGX ETFs Conference themed ETFs in the Nigerian Capital Market: Opportunities and Challenges will feature major players in the capital market, including retail investors, regulators, pension fund administrators, fund managers issuers, trading license holders, and other institutional investors.

Some of the persons expected to speak at the event are the Executive Commissioner for Operations at the Securities and Exchange Commission (SEC), Mr Dayo Obisan; the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka; the Manager for Business Development and Exchange Traded Products at the Johannesburg Stock Exchange, Ms Adele Hattingh; the Executive Director of the Central Securities Clearing System (CSCS) Plc, Adeyinka Shonekan; and the chief executive of Stanbic IBTC Asset Management, Oladele Sotubo.

Also featuring on the panel are the CEO of FBN Quest Asset Management, Ike Onyia; the Managing Director of Vetiva Fund Managers Limited, Oyelade Eigbe; the President of the Fund Managers Association of Nigeria and CEO of Coronation Asset Management, Aigbovbiose Aig-Imoukhuede; and the Chief Equity Analyst/CEO of Palesa Capital Markets Associates, Nornah Awoh.

According to a statement from the stock exchange, the panel would be moderated by the Markets Editor for West Africa at CNBC Africa, Wole Famurewa.

Commenting on the forthcoming event, the Head of Marketing and Corporate Communications at NGX, Mr Clifford Akpolo, said, “The conference will provide an overview of the ETF securities framework in Nigeria and enlighten market participants on the regulatory framework of SEC around ETFs.”

“It also aims to resolve the challenges experienced by issuers in the Nigerian ETF market. We believe the conference will further complement our efforts to boost liquidity and increase retail participation in the capital market,” he added.