NGX Facilitates Over N3.85 Trillion Capital Raising, Reinforces Role in Economic Growth

Soukaina Sghir
Soukaina Sghir
2 Min Read

Mr. Jude Chiemeka, the Acting Chief Executive Officer of the Nigerian Exchange Ltd. (NGX), has highlighted the significant contributions of the stock market in 2023, stating that it facilitated the raising of over N3.85 trillion by government and corporate entities to fund various projects. In an interview on Friday in Lagos, Chiemeka underscored the pivotal role of the stock market in enabling capital formation and investment, emphasizing its crucial impact on the economy.

Chiemeka shared key figures that exemplify the market’s influence, revealing that the top five listed companies contributed over N362 billion in taxes to the federal government, while N962 billion was paid as dividends. He emphasized the resilience of the NGX, describing it as a platform that continues to provide stakeholders with opportunities to raise capital and invest. Chiemeka expressed the commitment of the NGX to offer value to issuers and investors, positioning itself as the preferred African Exchange.

Highlighting the diversity of investment opportunities provided by the exchange, Chiemeka mentioned equities, fixed income, derivatives, Mutual Funds, and exchange-traded funds (ETFs). He stressed the NGX’s dedication to delivering a robust and efficient platform for investors across various asset classes.

The CEO emphasized the positive impact of the stock market on government revenue and shareholder returns. Chiemeka also pointed out the NGX’s role in long-term investing and innovation, reflecting the exchange’s commitment to fostering a dynamic and responsive capital market.

Addressing the advancements in technology, Chiemeka highlighted the investments made by NGX to ensure a seamless and uninterrupted transaction experience for investors. He affirmed the NGX’s reliability as a platform for investors, backed by its advocacy efforts with the Nigerian government on tax reforms, foreign exchange allocation, and stakeholder engagement.

In conclusion, Chiemeka reiterated the Exchange’s commitment to operational excellence and customer satisfaction, showcasing the NGX as a dependable and forward-thinking player in the Nigerian financial landscape.

Soukaina Sghir

Share this Article
Leave a comment