Yemisi Izuora
The Chairman of the Nigerian Exchange (NGX) Group, Alh (Dr) Umaru Kwairanga, has restated commitment of the Group to serve as a bridge between investors and issuers which he said it demonstrated in the banking recapitalisation exercise in various ways.
During such exercises the Nigerian Exchange organised Facts Behind the offer ceremonies for most of the banks that have floated rights and public issues, he said.
Kwairanga, further assured that after the offers are concluded , the Nigerian Exchange will ensure that the banks meet their disclosure requirements promptly and fully so that investors are kept abreast of how their monies are being used.
Speaking at the 2024 Workshop of the Capital Markets Correspondents Association of Nigeria ( CAMCAN), which held at Orchid Hotel in Lagos at the weekend, the Chairman, stressed that the NGX Group is one of those at the forefront of actualizing the theme of the workshop and promised to continue to carry out that role for the benefit of the investors, the market and the Nigerian economy.
Dwelling on the theme , Recapitalisation: Bridging the Gap between investors and issuers, Kwairanga noted the critical connections of the topic and reality of Nigeria’s economic environment pointing that the theme is very topical given that we are only halfway through the banking recapitalisation mandated by the Central Bank of Nigeria.
At those ceremonies, the issuers are required to outline their plans for the capital they intend to raise and answer very relevant questions from CAMCAN and investors.
The Exchange also set up X Rails which is a technology platform to enable investors subscribe to ongoing offers directly from the comfort of their homes and offices without needing to fill paper forms or battle through traffic in order to go to the offices of financial intermediaries.
He used the occasion to applaud CAMCAN, which he said plays a critical role in the capital market by facilitating the dissemination of timely and accurate information that investors can use to make informed decisions.
“The daily publication of the All Share Index and publicity given to all capital market activities by CAMCAN keeps the capital market in the public eye and ensures the markets sustainability.
“With programmes like today’s , CAMCAN is also encouraging robust discussion on contemporary financial issues and helping to improve the work of regulators and operators in the capital market.” Kwairanga added.