19 May Buhari Lauds transition of Nigerian capital market
President Muhammadu Buhari on Tuesday lauded the successful transition of the capital market into a new era of increased competitive value creation for all stakeholders.
He spoke at the virtual launch of the Nigerian Exchange Group (NGX) Plc’s campaign held to showcase the successful demutualisation of the then Nigerian Stock Exchange (NSE) and to further amplify the emergent NGX Group as a leading capital market infrastructure provider.
Buhari described the successful demutualisation of the then NSE as a national pride and the beginning of a new era for the Nigerian capital market.
He noted that he had signed the Demutualisation Bill in August 2018, which paved the way for the long -awaited demutualisation of the then NSE.
The President said, the occasion of the demutualisation of the NSE was a proud moment for all Nigerians who indeed deserve congratulations for the feat as it marked the beginning of a new era for the capital market.
“It is also important for me to highlight that the history of NGX Group is tied to that of the nation itself, founded 61 years ago at a pivotal time when Nigeria gained her independence. The Exchange continues to play its part in nation building by stimulating economic growth and providing a platform for businesses and individual to save and raise capital through innovation, diversified products and services, enabling regulatory environment and much more”, Buhari said.
Group Chairman, Nigerian Exchange Group (NGX Group) Plc, Otunba Abimbola Ogunbanjo said that the Exchange has come a long way, through different leadership regimes that have overseen multiple boom and bust economic dispensations within the Nigerian economy, to emerge as a leading integrated market infrastructure in Africa and the engine of growth for Africa’s largest economy.
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