By Delight Abosi
On the backdrop of the recent wave of delisting from the Nigerian Exchange Limited (NGX), the Chairman of NGX GROUP, Dr. Umaru Kwairanga, has called on the Federal Government to spearhead legislative adjustments and reforms that will make listings more attractive.
He stated this during the Closing Bell ceremony of NASDAQ, New York, organised by the United States Chamber of Commerce, Nigerian Exchange Group Plc, (NGX GROUP) and Nigerian Investment Promotion Council (NIPC).
The closing bell ceremony was part of events lined up in the NGX Roadshow, supported by Stanbic IBTC, CardinalStone Partners and Chapel Hill Denham. Kwairanga also nudged the US business community to explore more partnership avenues with Nigeria.
The chairman noted that the capital market was in need of reforms that can unlock the increased prosperity for the Nigerian economy.
He also emphasized the need for deepening of the pension reforms and amendments to government free zones to facilitate easy access to the capital market through listings.
Going further he said: “The removal of fuel subsidies and liberalization of the foreign exchange market have boosted confidence in our capital market, with the Nigerian Exchange Limited’s All-Share Index surging by 29.04% since President Bola Tinubu’s inauguration.”
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