The Managing Director and Chief Executive Officer of the Nigerian Exchange Group (NGX Group), Temi Popoola said that gender equity has evolved from a moral obligation to a strategic driver of governance, profitability, and resilience in corporate Nigeria.
Speaking at the 2025 Women in Management, Business and Public Service (WIMBIZ) Annual Conference, Popoola revealed that, for the first time, none of the NGX-30 companies has an all-male board, a milestone that marks a new phase of inclusion in Nigeria’s private sector.
“Inclusion is a fundamental pillar of strong governance and a driver of superior business outcomes,” Popoola stated. “Gender-diverse boards deliver better oversight, stronger ethical judgment, and greater investor confidence.”
Echoing his remarks, Dr. Arunma Oteh, OON, Chairperson of the Royal African Society and Academic at the University of Oxford, urged women to take greater ownership of Nigeria’s development.
“Female participation is critical, and smart, for the country,” she said. “Let us own Nigeria’s journey and safeguard its legacies.”
Popoola emphasized that inclusion must be cultivated from the foundation. “It starts from the entry level,” he noted.
“When we give women opportunities early, we empower them to grow into leaders in their fields. Leadership is built, not bestowed.”
To support this vision, NGX promotes EquipHER, an initiative by NGX Regulation Limited that empowers women in the capital market through mentorship, financial education, and investor protection awareness.
The program helps women transition from first-time investors to influential market participants.
The Exchange has also embedded gender inclusion in its corporate strategy, aligning with the UN Sustainable Stock Exchanges Initiative and the UN Women’s Empowerment Principles.
NGX is the first exchange group in Africa to receive the Economic Dividends for Gender Equality (EDGE) certification and continues to champion the global Ring the Bell for Gender Equality campaign.
Through its partnership with the International Finance Corporation (IFC) under the Nigeria2Equal programme, NGX has worked with 18 listed companies to bridge gender gaps across leadership and workforce levels, benefiting more than 49,000 employees.
Findings from the 2025 PWR Advisory NGX-30 Board Gender Diversity Scorecard show that women now occupy 31.1 per cent of board seats among the top 30 listed companies, up from 29.7 per cent in 2024, with five firms led by female chief executives the highest figure to date.
Reaffirming NGX’s long-term commitment, Popoola said the goal is to institutionalize gender equity in every aspect of corporate governance.
“Our goal is simple,” he concluded. “One day, women’s inclusion will no longer be a special initiative it will simply be how corporate Nigeria operates.”