The Nigerian Exchange Group (NGX Group) has called for stronger institutional collaboration, consistent economic policies, and deeper international financial ties to attract sustainable foreign investment into Nigeria’s capital market.
Speaking at the Nigeria–Asia Financial Connectivity Dialogue in Singapore, NGX Group Managing Director and Chief Executive Officer, Temi Popoola, emphasized that Nigeria’s growing capital formation presents a vital opportunity to broaden investor participation and position the local exchange as a primary engine for economic growth.
“We are witnessing a level of capital formation in Nigeria and on the continent that we really haven’t seen in a very long time,” Popoola stated, noting that market development must be pursued as a shared undertaking among regulators, policymakers, and exchanges rather than in isolation.
The two-day dialogue, held on October 8 and 9, 2026, was hosted by J.P. Morgan and the Central Bank of Nigeria (CBN) in collaboration with NGX Group and FMDQ Group.
Discussions centered on liquidity, foreign-exchange stability, policy consistency, and the expansion of key sectors like agriculture, technology, infrastructure, and healthcare to mobilize long-term funds.
Popoola also highlighted recent structural milestones, including the transition to a T+1 settlement cycle in June 2026 and Nigeria’s reclassification to Frontier Market status by FTSE Russell in September, both of which improve accessibility for international investors.
Echoing these sentiments, CBN Governor Olayemi Cardoso stressed that the true measure of reform lies in maintaining investor trust. “The real test of reform is not whether you can attract capital once; it is whether you create the confidence for capital to stay, return, and grow,” Cardoso said.
As part of the Singapore engagements, Nigerian delegates including FMDQ Group CEO Zeal Akaraiwe met with Singapore Exchange Group (SGX Group) CEO Loh Boon Chye to explore regulatory credibility and potential secondary listings of major companies with substantial Nigerian operations, such as Olam, Tolaram, and Indorama, on the domestic bourse.
The CBN also signed a Memorandum of Understanding with the Global Finance & Technology Network to foster cooperation in financial innovation.
