The Group Chairman of Nigerian Exchange (NGX) Group, Alhaji (Dr) Umaru Kwairanga, on Saturday, 7th December 2024, commended the media for its critical role in sustaining the capital market through accurate and timely dissemination of information.
Speaking at the 2024 Capital Markets Correspondents Association of Nigeria (CAMCAN) Workshop in Lekki, Lagos, Dr. Kwairanga underscored the importance of transparency and collaboration in bridging the gap between investors and issuers during the ongoing banking recapitalisation exercise.
“The media, through CAMCAN, ensures the sustainability of the capital market by keeping it in the public eye and encouraging robust discussions on contemporary financial issues,” he said.
Themed “Recapitalisation: Bridging the Gap Between Investors and Issuers,” the workshop provided a platform to assess progress in the banking recapitalisation mandated by the Central Bank of Nigeria, identify shortcomings, and propose solutions for the future.
Dr. Kwairanga highlighted the efforts of the NGX Group in facilitating the recapitalisation process, including organising Facts Behind the Offer ceremonies where banks present their capital-raising plans and address stakeholders’ concerns.
He also pointed to NGX’s innovative X-Rails technology, which simplifies investment by allowing investors to subscribe to offers remotely, eliminating the need for paper documentation or physical visits to financial intermediaries.
“These initiatives underscore NGX’s commitment to supporting both investors and issuers while enhancing the transparency of the market. We are at the forefront of actualising today’s theme for the benefit of the economy.” he added.
The keynote lecture by Mr. Johnson Chukwu, Managing Director of Cowry Asset Management Limited, and a panel discussion by financial experts delved into the complexities of the recapitalisation exercise.
The event reaffirmed CAMCAN’s role as a vital bridge between the capital market and the public, ensuring informed decision-making and fostering growth in Nigeria’s financial sector.
