…as Vice-President, Others laud digitization efforts
The chief executive officer of NGX, Mr Temi Popoola, said
this at a news conference in Lagos in preparation for the Exchange Capital
Markets Conference.
The NGX will be holding its inaugural Nigerian Capital
Markets Conference on November 30, 2021. The conference, a hybrid event;
physical and virtual will bring together policymakers, government, financial
experts, business leaders, investors, international development partners,
regulators and other market stakeholders, to share insights and broaden the thinking
needed for greater capital flows through innovative sources of financing.
Popoola said, the government and the private sector must
harness opportunities in the country’s capital market for infrastructure
development and employment, instead of depending on external borrowings.
Popoola noted that the challenges facing the country in
terms of infrastructure would be resolved through capital market instruments,
saying, “most countries have used the capital market to boost their
infrastructure. The capital market is the appreciative way of resolving our
infrastructural issue.”
Divisional head, Trading Business, NGX, Mr Jude Chiemeka,
said asset-backed securities could be harnessed by both government and private
sector to address the country’s infrastructure needs.
Chiemeka said the conference would highlight how investors,
more importantly issuers can utilise the capital market to raise funds, saying,
the government could focus on green bond, Sukuk, in addressing the
infrastructural gap.
“Our focus will also be around diversification of the
capital market. For a long time our market had a lot of international flows and
each time we have global financial crises or foreign exchange issue as we are
having now, the market takes a huge hit.
“The PFAs have assets of over N30 billion and with proper
development, we should be able to have, like other markets, control 70 per cent
of domestic flows,” he pointed out.
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