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By Aduragbemi Omiyale

A few months ago, some digital brokerage firms came up with ways to allow Nigerian investors to invest in foreign stocks, but the Securities and Exchange Commission (SEC) cracked down on them, saying they had no permission. to do it.

However, the Nigerian Exchange (NGX) Limited works tirelessly to ensure that domestic investors have access to diaspora and other investments.

According to the Managing Director of NGX, Mr. Temi Popoola, this is one of the priority areas for the exchange to deepen the Nigerian capital market.

At NGX, our efforts focus on four key areas: first, how can we further diversify products through securitization of fixed income instruments; second, how can we create a platform where we can trade infrastructure tax credits; third, how to tap into new sources of capital to improve retail investment and participation; and finally, how to create access for diaspora investments.

“We are confident that with the right regulatory support and commitments like this, we are beginning to build and deploy solutions that address these issues and more,” Mr. Popoola said during a strategy meeting with market participants organized by the Debt Management Office (DMO) in Lagos last week.

He reaffirmed the exchange’s commitment to supporting the debt office to deepen the capital market, acknowledging the agency’s contributions to capital market growth.

“The Nigerian capital market is certainly deeper due to the activities of by-products highlighted by the DMO such as Sukuk Bonds, Eurobonds and Federal Government Bonds.

“It’s obvious to capital market facilitators that we need to take a collaborative approach to deepen our market for the benefit of all,” he said.

In her remarks, the Director General of DMO, Ms. Patience Oniha commended key stakeholders for their role in helping the Federal Government build the Nigerian economy.

She acknowledged the critical importance of debt financing in Nigeria, particularly in relation to financing infrastructure projects, stating that “Given the importance of debt in any economy, capital market catalysts are integral to the development of the Nigerian economy, so it is imperative that we have commitments like this.

“I thank you for all your commitment, as evidenced by your presence here today, and I believe that the DMO can continue to count on your support,” said the head of the debt office.

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