Nigerian Exchange Limited to implement new strategy to build on gains of demutualisation

As part of ongoing activities aimed at improving business operations and processes at Nigerian Exchange Limited (NGX), the Board of the Exchange has approved a new strategy centered on digital transformation, strategic partnerships, and customer-centric solutions.

These will ensure that the bourse becomes a “LEADING” organisation with a focus on deepening the capital market, diversifying our products and services, enhancing retail participation, and delighting our stakeholders across board.

The new structure, which will take effect from Tuesday, 1 March 2022, is designed to increase efficiency, enhance value, reduce cost, and maximise revenue generation.

This comes on the back of impressive performance recorded at the Exchange following the demutualisation. In 2021, Nigerian Exchange Limited experienced growth in trading figures with the NGX All Share Index returning 6.1percent and turnover in the fixed income market increasing by 158.19percent.

Equity capitalisation rose by 5.89percent, while fixed income figures rose by 12.81percent during the year. Several landmark transactions were also recorded including the first-ever end-to-end digital offer in the Nigerian capital market, the groundbreaking listing of BUA Cement PLC’s N115billion Bond, the largest corporate bond issuance, etc.

Read also: NGX tasks investors on diversification of portfolios

To effectively consolidate these results, the Board of the Exchange has approved the restructuring of the bourse to efficiently implement its new strategy. As part of the restructuring, the Board has equally approved a change in the organisational structure with the attendant rightsizing of the workforce to better position the bourse to deliver competitive value in today’s dynamic technology-driven global capital market.

As such, the Exchange will transition from an operational structure of four Divisions, namely, Listings Business, Trading Business, Business Support Services, and Technology Services, to a refreshed operational structure of three Divisions namely: Capital Markets, Digital Technology, and Business Support Services. While there is a deep appreciation for the efforts of all employees in building the thriving Exchange that exists today, these actions are necessitated by the need to effectively position Nigerian Exchange Limited to lead the digitalisation and digital transformation of the Nigerian capital market.

This new strategy reflects the Exchange’s commitment to developing the Nigerian capital market through agile, innovative, and disruptive approaches, which will in turn contribute to the growth of Nigeria’s economy. Ultimately, Nigerian Exchange Limited remains focused on providing investors and businesses a reliable, efficient, and adaptable exchange hub in Africa, to save and access capital.