The Chairman of the Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, has called on the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and other policymakers to harmonise regulatory frameworks ahead of 2026 to boost investor confidence and market stability.
Speaking with newsmen on Monday, Kwairanga stressed the importance of clear and consistent policies on taxation, foreign exchange, and cross-border capital repatriation to reduce uncertainty and attract sustained foreign investment.
“Policy harmonisation is critical to reducing volatility and attracting sustained foreign investment,” he stated.
He also highlighted the need for enhanced regulatory clarity on market levers such as capital gains tax, clearing and settlement efficiency, and disclosure standards, noting that clear rules and efficient processes strengthen market integrity and operational confidence.
Kwairanga urged regulators to foster product innovation in the capital market, including the development of derivatives, exchange-traded products, and securitised instruments, which he said would expand the investor base and improve risk management.
He further advised market operators to prioritise continuous investor education, improve technology and infrastructure to enhance market access, and maintain high standards of market integrity.
“Efficient trading platforms, settlement systems, and cross-border connectivity are essential for competitiveness. High standards of transparency and enforcement underpin investor trust, both domestic and international,” he added.
Kwairanga encouraged investors and issuers to adopt long-term strategies, diversify portfolios, and leverage digital tools to reduce costs and enhance transparency.
He also stressed the importance of strong environmental, social, and governance (ESG) practices in attracting global capital.
Reflecting on 2025, Kwairanga noted the Nigerian capital market’s commendable performance, attributing gains to reforms, stronger corporate actions, and resilient market participation.
He expressed confidence that the foundations laid would position the market for greater opportunities in 2026 and beyond.
“Collaboration among investors, regulators, and operators remains central to building a deeper and globally attractive capital market,” he concluded.