Aduragbemi Omiyale
By Aduragbemi Omiyale
The Nigerian Exchange (NGX) Limited and the NGX Regulation (RegCo) have been given kudos for fostering sustainability and investor resilience in the capital market.
This commendation came from the Securities and Exchange Commission (SEC) on Monday at the closing gong ceremony held in commemoration of the International Organisation of Securities Commissions’ (IOSCO) World Investor Week.
The apex regulatory agency in the nation’s capital market said it was impressed with the two organisations, noting that the World Investor Week was a crucial part of its 10-year Capital Market Masterplan.
“Financial literacy and investor protection are central to the main objectives of the commission in driving the development of the market,” the Director-General of SEC, Mr Lamido Yuguda, represented by the Executive Commissioner of Operations at SEC, Mr Dayo Obisan, said.
Also speaking, the Divisional Head of Capital Markets at NGX, Mr Jude Chiemeka, said that the key message for the year, investor resilience and sustainable finance, was apt as investors weathered various challenges globally.
Mr Chiemeka stated that financial literacy and inclusion were top priorities for stakeholders. NGX prioritised these topics as part of its quota to achieve key targets of the National Financial Inclusion Strategy.
He said, “Through collaborations with other organisations and agencies, we have hosted several engagement sessions to educate both institutional and retail participants within and outside Nigeria about specific products and services. Some of our recent sessions have been around securities lending, technology board, green and Sukuk bonds, derivatives, ESG investing and generally investing in the digital age.”
“With the Ring the Bell for Financial Literacy being the anchor part of the week-long celebrations, we look forward to driving more campaigns now and in the future with the overall goal of gaining investors’ confidence and continuing in our quest to be Africa’s sustainable exchange championing Africa’s growth,” he stated.
On his part, the Head of Broker-Dealer Regulation at NGX RegCo, Mr Femi Shobanjo, said that the regulator employs its sustainability disclosure guidelines to ensure the market complies with global best practices in Environmental, Social and Governance (ESG) initiatives.
“We regularly collaborate with stakeholders to update the guidelines and communicate effective approaches to incorporating sustainability that aligns with international standards and frameworks in their activities and operations.
“We encourage market-wide efforts to further entrench sustainability values that enhance the Nigerian capital market’s image and standing,” he disclosed.
