The Chief Executive Officer, Nigerian Exchange Limited (NGX), Temi Popoola reiterates its commitment to leverage technology to digitize securities investment and other market-related transactions.
He disclosed this recently during the Business Morning Show on Channels Television. Popoola said that even though there has been few challenges, NGX has experienced strong track of growth whether from the view of the number of securities listed now, the types of securities listed and types of business activity.
According to him, The Exchange is in sync with the apex regulator, the Securities and Exchange Commission (SEC) to digitalize the market and make sure that investors can buy and sell securities easily. ‘The Exchange on its part is doing its bit to coordinate the activities of players across the entire investment value chain to create an experience where within the space of minutes, a transaction can be initiated and completed. This is particularly important given that the next generation of investors are typically on their mobile phones, and until we can meet them there the value we can deliver to them will be limited. Over the next few months, we expect to deliver some positive structural changes building on our existing activities in this regard,” Popoola stated.
Read also: Nigeria’s foreign portfolio investment slides 3-year low on FX crisis
He also revealed that the Exchange is looking at strategies as to how to attract more foreign capital. Popoola noted that, “While attracting foreign capital is largely based on the macroeconomic environment of the nation, NGX continues to address factors within its immediate control to provide a conducive environment for these investments. We recognise that investors look into the quality of the companies and asset classes available before making investment decisions. As such, we place significant emphasis on governance, as well as the rules guiding the behavior of Issuers in our market. On the trading side, we also consider factors around the ease in settling transactions, resolving complaints, finding the right infrastructure and engaging the right intermediaries”.
Speaking to trading in the market, Popoola noted that the increase in domestic participation on NGX in few months is a testament of the financial power of Nigeria as a whole while adding that the Exchange will look to drive local participation and at the same time, position itself to attract investments
Join BusinessDay whatsapp Channel, to stay up to date
Open In Whatsapp
