The Chairman of the Nigerian Exchange Group Limited (NGX Group), Dr Umaru Kwairanga, says the Nigerian Exchange is ready to learn from the experiences of the Stock Exchange of Hong Kong Limited (HKEX) as a vibrant, innovative Exchange in a bustling economy.
Applauding the Hong Kong Stock Exchange for its resilience and success since its inception over a hundred years ago, Dr Kwairanga said the Hong Kong Exchange—which ranks among the biggest in the world with over two thousand listed securities and a variety of products—has always been a marvel and an inspiration to the world.
The NGX Chairman, while on a courtesy visit and Board interaction between the Stock Exchange of Hong Kong and the Nigerian Stock Exchange, noted that the Hong Kong Exchange—having served as a bridge between the People’s Republic of China and the world—has some experiences and knowledge which the Nigerian Exchange could tap.
“The Nigerian Stock Exchange was established more than sixty years ago, but it was just over three years ago that we transformed from a mutual organisation limited by guarantee to a for-profit public company owned by and run for the benefit of thousands of shareholders.
That transformation has come with various challenges in such areas as governance and regulation, technology, market expansion, product development, cost optimisation, and profitability.
We know that the Stock Exchange of Hong Kong has most probably tackled and surmounted similar challenges, and so we look forward to learning from your experience and partnering with you to move forward very quickly,” said Dr Umaru Kwairanga, optimistic that the sharing, learning, and partnership between the two sides would bring about tremendous benefits in the long term.