A delegation of London businesses led by Alderman Roger Gifford, Lord Mayor of the City of London, is in Nigeria to woo Nigerian investors, particularly those interested in the capital market.
The delegation’s first port of call yesterday was at the Nigerian Stock Exchange (NSE) after which it proceeded for various breakfast meetings with banks like Access Bank plc and Guaranty Trust Bank plc.
“It is a symbolic moment to showcase the business potentials between Nigeria and United Kingdom. We in London recognise that Nigerian Stock Exchange is the gateway to Africa. It must continue to build on investor confidence. At the London Stock Exchange (LSE), supported by full range of professional services, we offer companies from around the world access to an unrivalled pool of liquidity and to a broad and deep investor base,” Gifford said.
Since he took office as the 685th Lord Mayor of the City of London on Friday, November 9, 2012, Gifford has been promoting UK financial, professional and maritime services both at home and abroad.
He said at the forum organised by GTBank plc that African based companies have raised from the London Stock Exchange about 4.2 billion pounds since 2008 – looking at past 6 months period, Eland and Zenith Bank plc are most recent.
“There are 600 non-UK companies at the London Stock Exchange. We want to see more Nigerian companies. We offer opportunity of unrivalled pool of liquidity. There are key reasons why a lot of companies choose to raise money on the LSE which include global visibility. We want Nigerian firms to see London as its international financial market. We in the city of London are very proud of our markets because we know the kind of financial depth they provide,” Gifford added.
Oscar Onyema, chief executive officer, Nigeria Stock Exchange, said, “Mayor’s presence conveys the importance of Nigeria stock market,” adding that the NSE’s goal has been to restore confidence in the market.
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