By Dipo Olowookere
The Chairman of the Nigerian Exchange (NGX) Limited, Mr A.B. Mahmoud, has disclosed that the exchange has all it takes to make the capital market attractive to retail investors, especially through technology.
Speaking at the listing of the shares of Access Holdings Plc on the bourse last Thursday, he said the NGX boasts of products that will interest retail investors, especially the youths.
“The exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion,” he stated.
He welcomed “Access Holdings Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out of the box ideas financial products that will dimension the next curve for the capital market.”
Mr Mahmoud congratulated the board of directors and executive management of Access Holdings and the parties to the transaction, Chapel Hill Denham Advisory Limited, Coronation Securities Limited, Aluko & Oyebode, and Africa Law Practice NG & Company.
On his part, the Chief Executive Officer of NGX, Mr Temi Popoola, commended the financial institution for its contribution to the Nigerian growth story and emphasized NGX’s commitment to collaborating with institutions driving growth in the Nigerian economy.
The CEO further noted that the exchange was proud to be part of the progress that Access Holdings has successfully achieved over the past 20 years while assuring that the company will find a worthy partner in the bourse as it commences its new journey.
Delivering his remarks, Chairman of Access Holdings Plc, Mr Bababode Osunkoya, said, “The significance of this event as our first external engagement as Access Holdings Plc is not lost on us.
“Access Holdings Plc is an evolutionary expression for us which signifies our moving away from what was known as Access Bank into a financial institution.
“We acknowledge the impact of our collaboration with The Exchange over the years and we look forward to continuing this mutually beneficial partnership to take Nigeria and Africa to the world.”
The Group Chief Managing Director/Chief Executive Officer of Access Holdings, Mr Herbert Wigwe, while speaking at the event, thanked the exchange for its remarkable contribution to the company’s story.
“In 2004, following the Central Bank of Nigeria (CBN)-mandated recapitalisation initiative, Access Bank came to the exchange on its maiden journey to raise capital. NGX created the platform through which we raised capital and quickly consummated one of the largest mergers in the history of this country.
“Today’s event marks a major milestone for us as we evolve from a traditional banking institution into a full-fledged financial services provider that would create an ecosystem of financial services for all Nigerians to benefit from. This is the exchange that made Access Bank and we thank the exchange for its continued support over the years,” he stated.
Precisely on Thursday, April 28, 2022, a closing gong ceremony was hosted by the NGX to commemorate the Access Holdings’ successful restructuring into a holding company structure and the listing of 35,545,225,622 ordinary shares of the company on its trading platform.
