Vice-President Osinbajo urges NGX to reduce excessive risk premium through collaborations

The Vice President of Nigeria, Professor Yemi Osinbajo,  has been the Nigerian Exchange (NGX) to ensure that the excessive risk premium of the capital market are abated and foreign investors are strongly reassured of foreign investment mechanisms and other regulations that would help them channel their resources in and take them out with the least possible constraints through continued to collaborate with all government agencies and regulators, such as the Central Bank, the Securities and Exchanges Commission (SEC) and National Pension Commission (PENCOM), amongst others.

He stated this while delivering his address as Keynote speakers at the maiden edition of the capital markets conference with the theme “The Future Ready Capital Markets; Innovating for Nigeria’s Sustainable Recovery”, held at Transcorp Hilton, Abuja, on Tuesday, November 30.

“As a government, we have shown our commitment to the growth of NGX and we want NGX to see itself as a critical player, even in negotiations on Africa-wide initiatives such the Africa Continental Free Trade Area (AFCTA). The macroeconomic environment and the regulatory regime present unprecedented opportunities, as heralded by the inaugural Capital Markets Conference, to bring in more retail investors, deepen the market and positively impact the livelihoods of Nigerians” Osinbajo said.

Speaking after the conference, the Chief Executive Officer, NGX, Mr Temi Popoola expressed his excitement about the deliberations, outcomes and agreed way forward by key speakers and panellists. He said, “as a major propeller of the economy, we are proud to be at the forefront of this milestone which is defining moment for Nigeria’s finance sector and the capital market specifically. The long list of key stakeholders from the public and private sector in attendance at today’s conference shows how to open NGX is to leveraging relationships and partnerships to advance its digital transformation agenda”.

“Taking this forward, NGX will continue to deepen and increase access to financial services for Nigeria through technology while championing the infrastructural development and the economic growth of the country” Temi assured.

Also speaking at the conference, Chairman, NGX, Mr Abubakar Balarabe Mahmoud, SAN, said the Nigerian capital market has the capacity to drive economic development and wealth creation through innovation and digitalization. “As shown by the conclusion of diverse speakers and panellists, an elevated capital market can strongly contribute to the government’s developmental agenda especially around the improvement of the economy”, Mahmoud concluded

The hybrid conference brought together leading policymakers, financial experts, business leaders, investors, international development partners and regulators, led by the Vice President,  Professor Yemi Osinbajo, to share insights and broaden the thinking needed for greater capital flows through innovative sources of financing for the capital market.