“NGX Chairman Kwairanga: Investor Base Doubles in Six Months with SEC Support”

Kwairanga noted that while Nigeria has emerged as a global hub for Bitcoin, blockchain, and other financial innovations, the traditional market’s growth has lagged. “We are coming from less than 100,000 investors, which is unacceptable. Today, with the support of the Securities and Exchange Commission and other stakeholders, we’ve doubled or tripled that number in just six months — a milestone we couldn’t achieve in the last 20 years,” he stated.

Highlighting the role of technology, Kwairanga added, “The younger generation wants convenience and efficiency. They prefer to do everything with their phones. That is why we’ve invested in technology to eliminate paperwork and simplify processes. However, challenges like lengthy verification processes remain a barrier. We urge the Central Bank of Nigeria to reduce these obstacles, enabling more Nigerians to capitalize on market opportunities quickly.”

Reflecting on the theme of the event, ‘Banks’ Recapitalisation: Bridging the Gap Between Investors and Issuers in the Capital Market,’ Kwairanga lauded the Nigerian Exchange Group’s contributions to fostering a dynamic capital market. He highlighted the launch of NGX Invest, a digital platform that has revolutionized public offerings and rights issues, facilitating over N1.26 trillion in capital-raising efforts by major banks such as Zenith Bank, GTCO, and Access Bank.

 

“The capital market is a bridge between issuers seeking capital and investors looking to create value. At NGX Group, our mission is to ensure this bridge is efficient, transparent, and accessible. Through platforms like NGX Invest, we’re building investor confidence and supporting economic growth across sectors,” he explained.

Kwairanga also addressed journalists, emphasizing their critical role in shaping perceptions and fostering trust in the capital market. “Accurate and contextual reporting is essential to maintaining the credibility of our market. In an era of rapid misinformation, journalists must uphold the highest standards, inspiring confidence and fostering transparency,” he remarked.

He concluded by urging correspondents to remain steadfast in their commitment to integrity, recognizing their role as pivotal to the market’s growth and long-term vibrancy.