The Nigerian Exchange (NGX) intends to review its rules to attract more listings and deepen participation at the Nigerian capital market.

The Exchange said It was also implementing a more deeply intentional strategy that seeks to foster collaboration with the President Bola Tinubu’s administration, which the NGX described as a “pro-market leader”.

Group Managing Director, Nigerian Exchange Group (NGX Group) Plc, Mr. Temi Popoola, outlined these as part of plans by the Exchange to revamp its technology infrastructure, attract listings, enhance retail investors’ participation and foreign capital inflows.

Addressing leaders of exchanges from across the globe at the working group committee meeting of the World Federation of Exchanges hosted by Deutsche Boerse in Frankfurt Germany, Popoola said the NGX has found a new vigour with the macroeconomic outlook under the Tinubu government.

“After navigating a challenging eight years with the previous administration, we now find ourselves under a more pro-market leadership. This shift positions NGX for renewed growth and resilience in the evolving economic landscape.

“Recognising the importance of government advocacy historically, our strategy involves deeper intentionality to collaboration with government in enhancing listing incentives. A prime example is the prioritization of listed companies in government procurement processes. Also, working with the regulator, we intend to review our listing rules aligning them with markets such as London to attract a more diverse array of businesses to the Exchange,” Popoola said.

He said the Exchange recognized the stark contrast between the investors currently engaged in the capital market and the vast potential represented by the 65 million banking accounts in Nigeria.

According to him, the strategic vision is to bridge the divide, onboarding millions into the capital market and fostering financial inclusion on an unprecedented scale.

He said the NGX was exploring deepening data revenue generation and engaging market infrastructure stakeholders from the CCPs to the CSDs in meaningful API conversations to further strengthen agility. (The Nation)

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