NGX, LCCI to partner on private sector advocacy, listings

By Philemon Adedeji

Nigerian Exchange Limited (NGX) has expressed its eagerness to collaborate with the Lagos Chamber of Commerce and Industry (LCCI) in advancing advocacy efforts, encouraging listings, and enhancing capacity development for both chamber members and the broader economy.

The Chief Executive Officer, NGX, Temi Popoola, disclosed this during the Closing Gong Ceremony marking the 135th year Anniversary of LCCI on August 31, 2023.

Popoola emphasised the potential for NGX and LCCI to work together in promoting the advantages of listing for non-listed corporates, while also calling on LCCI to work with NGX Regulation on regulatory compliance, governance, and knowledge sharing.

Regarding retail participation, Popoola highlighted NGX’s plan to leverage technology to engage millions of Nigerians in the market. He drew parallels with the banking industry’s success in acquiring millions of customers through digitization and Fintech collaborations, indicating NGX’s readiness to partner with Fintechs to increase retail investor participation.

He further noted that NGX remains committed to building a thriving market and promoting innovative solutions that provide a globally competitive platform for issuers to raise capital, and investors to meet their financial objectives. “This commitment drives the Exchange to continuously seek strategic partnerships with key stakeholders.”

On his part, the President, LCCI, Michael Olawale-Cole, expressed enthusiasm about collaborating closely with NGX.

“We will work on signing an MoU; including developing action plans and timelines for a more vibrant partnership for the sustainable development of the Nigerian capital market.”

He commended NGX for its achievements and reiterated LCCI’s commitment to working together to enhance the exchange’s operations.