NGX: We’ll mobilise capital to supports FG’s economic agenda, foster wealth creation

Temi Popoola, chief executive officer (CEO) of the Nigerian Exchange Limited (NGX), says the firm is fully poised to lend its support to the federal government’s objectives.

The NGX boss, who spoke recently on the sidelines of the Roadshow to BBC in London.

Poopola said the NGX aims to support theNGX Poopola government by mobilising capital that “will address government challenges and foster wealth creation for Nigerians”.

He said President Bola Tinubu’s administration, presently engaged in tax reforms to boost revenue, can harness the potential of the capital market to create value and simultaneously achieve its objectives while delivering returns to investors.

“What we are trying to achieve is to emphasize to investors that Nigeria is open for business and also reinforce that the enormity of the challenges are clear and work has begun to address all the issues,” he said.

“Whether capital inflows or foreign exchange are illiquid, NGX remains a veritable platform for solving these economic challenges.”

Popoola said encouraging listings could also address the government’s problems including tax revenues.

He said this would also create value for shareholders as listed companies have better governance and are more accountable with tax payments.

Meanwhile, speaking to Sky News on the sidelines of the London Stock Exchange (LSE) Roadshow, Michael Nzewi, managing director and CEO, of CardinalStone Partners, said the roadshow aimed to capitalise on the pace of reforms by the new administration.

Nwezi also said the event would help to reverse the trend of foreign capital outflows, adding that his firm is willing to collaborate closely with NGX to ensure the roadshow creates a substantial impact.

The federal government, in an attempt to improve investments and generate income, had said it plans to collaborate with the NGX to stimulate startup listings.

On September 21, Tinubu rang the closing bell at the National Association of Securities Dealers Automated Quotations (NASDAQ)  exchange in New York, where he called for investment in the Nigerian economy.