Dipo Olowookere
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited has been tasked to consider areas that can be explored to make the nation’s capital market more robust.
The Vice President of Nigeria, Mr Yemi Osinbajo, who gave this charge, believes that the country’s capital market is not deep at the moment as there are other areas of the market yet to be explored to give value to investors.
However, he said he was impressed with the growth the stock exchange has recorded so far, noting that he was particularly glad about the demutualisation of the old Nigerian Stock Exchange (NSE).
After years of work, the NSE was demutualised and turned into a public company via the Nigerian Exchange Group Plc.
This new company now has three other organisations under it and they include NGX Limited, NGX Regulation (NGX RegCo) Limited and NGX Real Estate (NGX RelCo) Limited.
On Tuesday, the CEO of NGX Limited, Mr Temi Popoola, led the management team to Mr Osinbajo.
Those with Mr Popoola were the acting Head of Business Support Services, Mrs Irene Robinson-Ayanwale; the Head of Listings Business, Mr Olumide Bolumole; and the Head of Government Relations, Mr Soji Akinyele.
At the visit, the Vice President commended the NGX for the successful completion of the demutualisation of the NSE and urged the team to venture into emerging frontiers market to deepen the capital market.
Mr Osinbajo assured the exchange of the government’s support by way of policy to enable the organization and the capital markets to reach greater heights.
In making a presentation, Mr Popoola stated, “At NGX, we have been repositioned for profit and to align to the tastes and preferences of the market.
“Under this new arrangement, the market will be opened up for more companies to be listed, resulting in more revenues for government as listed companies are more responsible to the environment they operate in.
“We, therefore, appeal to the federal government to support the rejuvenation of the exchange and we assure you of better times ahead both for the public and corporate.”
