The Chief Executive Officer, NGX, Temi Popoola, disclosed
this during the Business Morning Show on Channels Television on Tuesday.
Popoola who spoke on the journey of the Exchange in 60 years, 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,” Mr. Popoola stated.
He also revealed that the Exchange is looking at strategies
as to how to attract more foreign capital. Mr. 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.
In concluding, Popoola expressed his excitement about the
future of The Exchange especially with the possibilities advancements in
technology provide. “We may not be able to wrap our minds around the potential
that technology will open up to us, but I am confident that the Exchange of the
future is one that will offer a diversified range of capital raising
opportunities, as well as sophisticated investment products that meet
stakeholders’ needs.”
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