NGX, SEC engage stakeholders on Investment and Securities Bill at Lawmakers’ retreat

No doubt countries with well-developed capital markets experience higher economic growth. It is on this note that the Chief Executive Officer, Nigerian Exchange Limited, Temi Popoola, addressed capital market stakeholders at the Investment and Securities Bill (ISB) Lawmakers’ Retreat convened by the Securities and Exchange Commission (SEC) on January 30, 2021.

Speaking at the session, Popoola stated, “A significant number of the developmental challenges the country presently faces could be solved through the capital market. This is supported by the fact that the capital market stimulates economic growth, mobilises savings, creates wealth, contributes to infrastructure development, reduces scarcity of foreign currency, aids financial inclusion, and promotes transparency and good governance. It is, therefore, crucial that the market becomes more innovative in product development to attract a more diversified array of market players both in the listing and trading segments.”

In his presentation, Popoola highlighted three priority areas for deepening the capital market stating, “For the capital market to effectively contribute to sustainable economic growth, the following must be looked into critically: legislation and effective legal frameworks; macroeconomic and political stability; and flow of capital. It is, therefore, a delight to see key capital market enablers come together to analyse the Investment and Securities Bill, and identify how it can be properly harnessed to create a healthy environment for capital market growth. It is through collaborative efforts such as these that we will be able to reap the emerging opportunities – particularly in technology – available in our economy.”

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By Iheanyi Nwachukwu • January 31, 2022

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.