Nigerian Exchange Group, SEC Deepen Global Partnerships By Visiting India
By: Salamatu Ejembi, Lagos
The Nigerian Capital Market in an effort to enhance global partnerships is engaging in discussions around retail participation and education, governance, strategic investment, and the adoption of innovative technologies to enhance market efficiency.
This formed part of the takeaway from the recently held high-level engagements with the National Stock Exchange (NSE) of India and key players in India’s financial ecosystem at the NSE headquarters in Mumbai, India.
The Nigerian Exchange Group (NGX Group) and the Securities and Exchange Commission Nigeria, were on a two-day visit to the NSE headquarters in Mumbai, India, to explore shared opportunities and strategies for driving innovation, market expansion, and sustainable growth.
Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, lauded India’s achievements as a global economic powerhouse, drawing parallels between the two nations.
“We congratulate you on your success as a nation and an exchange, but, more importantly, we are here to learn from your experiences as a vibrant, innovative, technology-driven exchange in a bustling economy.” Alhaji Kwairanga said.
Director-General of SEC Nigeria, Dr. Emomotimi Agama emphasized the regulatory benefits of the visit,stating that “Collaborations like these allow us to adopt global best practices in regulating and developing our markets. The insights gained from this engagement will play a critical role in shaping policies that promote transparency, stability, and investor confidence.”
The Group Managing Director and Chief Executive Officer of NGX Group, Temi Popoola reinforced the importance of this collaboration, stating, “This interaction marks a new chapter in our commitment to fostering innovation and driving growth in Nigeria’s capital markets. By learning from the National Stock Exchange of India, a leader in leveraging technology for market development, we aim to enhance our operational efficiency and introduce cutting-edge solutions tailored to our market’s unique needs.”
For his part, Managing Director and Chief Executive Officer of NSE India, Ashishkumar Chatham expressed pride in the contributions of NSE to India’s economic development.
He said “We are proud of what NSE has achieved for the Indian economy and government, particularly in increasing retail participation and facilitating capital raising for companies, including small and medium-sized enterprises. We look forward to exploring collaborations with NGX Group to exchange knowledge and foster mutual growth in our markets.”
The Nigerian delegation’s visit provided a comprehensive view of India’s financial ecosystem, showcasing how regulation and technology catalyze market growth.
During the visit, the Nigerian delegation also visited Deutsche Bank India, one of the trading license holders of NSE, where discussions focused on the operational dynamics of trading within India’s robust financial framework.
A visit to the National Payments Corporation of India (NPCI) offered insights into payment system infrastructure and their role in enhancing financial inclusion and investor accessibility.
Furthermore, the delegation met with the Securities and Exchange Board of India (SEBI) to discuss regulatory frameworks that promote market stability and innovation.
The ceremonial market closing at NSE India marked the highlight of the visit. The bell-ringing ceremony symbolized the commitment to forging stronger ties and fostering collaboration between the two markets.
Olusola Akintonde
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