Nigerian Exchange set to deliver value to domestic, foreign investors ─GMD/CEO

*The Management of the Nigerian Exchange Group (NGX Group) Plc have said the company is positioned to deliver value to domestic, foreign as well as retail and institutional investors

Emmanuel Akosile | ConsumerConnect

Following the successful listing of the group, the Nigerian Exchange Group (NGX Group) Plc has said it is positioned to become Africa’s leading capital market infrastructure holding company that promises to delivering value to all investors.

ConsumerConnect reports Mr. Oscar N. Onyema, OON, Group Managing Director and Chief Executive Officer (GMD/GCEO) of the NGX Group Plc stated this development in a blog post Friday, October 15, 2021.

Onyema said: “Today marks a critical milestone in my career as GMD/CEO of Nigerian Exchange Group (NGX Group) Plc (NGX Group) as we successfully listed on Nigeria’s premier Exchange, Nigeria Exchange Limited (NGX).”

He explained that the listing opens up the possibility for the NGX Group to become Africa’s leading capital market infrastructure holding company, while delivering value to domestic and foreign, as well as retail and institutional investors alike.

“I am grateful to the Board and Management of NGX Group, all professional parties to this transaction, and the Management of NGX who worked tirelessly to bring this one home,” Onyema stated.

SEC partners EFCC to curb infractions in capital market  

In a related development, Nigeria’s Securities and Exchange Commission (SEC) has engaged staff of the Economic and Financial Crimes Commission (EFCC) on capital market training to reduce financial crimes in the country.

Mr. Stephen Falomo, Director, SEC Lagos Zonal Office, in an address during a day’s training Wednesday October 13, 2021, in Lagos, said the training was to drive development in the capital market, agency report stated.

The theme of the training was entitled: “Enlightenment Programme on the Capital Market and the Investigation of Capital Market Complaints.

Falomo said the training was one of the strategies of the SEC to drive the development of the market.

According to him, it is aimed at sharing knowledge with the EFCC to achieve a well-regulated, dynamic, fair and equitable market.

“The special enlightenment programme is aimed at intimating the officers of the EFCC on the workings of the capital market in general and enhancing the investigative skills required to handle capital market related complaints.

“The SEC is the apex regulator of the Nigerian capital market. It is empowered by the Investment and Securities Act (ISA) of 2007 to regulate and develop the Capital Market,” he said.

Falomo also noted: “We are all aware that the EFCC is responsible for the investigation and prosecution of financial crimes and that a large chunk of complaints and infractions in the capital market can be deemed to be financial crimes.

“It is, therefore, imperative that the SEC supports the EFCC with up-to-date knowledge of the intricate workings of the capital market and some useful information on the investigations of financial crimes emanating from players in the capital market space.”

Mr Ahmed Ghali, EFCC Zonal Commander, in Lagos, recalled the existing relationship between both agencies, and charged the participants to take maximum advantage of the training.

“I assure you that the facilitators will throw light on a number of capital market matters, where you may be having challenges,” Ghali stated.

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