NGX Group, SEC Forge Stronger Global Partnerships With India  

The Nigerian Exchange Group (NGX Group), in collaboration with the Securities and Exchange Commission (SEC) Nigeria, has strengthened its global partnerships through strategic engagements with India’s financial ecosystem.

The high-level meetings, held on December 16 and 17, 2024, at the National Stock Exchange (NSE) headquarters in Mumbai, marked a significant step in enhancing the Nigerian capital market’s reach and innovation.

During the visit, the NGX and SEC delegation, led by key stakeholders, explored opportunities for collaboration, technology adoption, and sustainable market growth. Dr. Umaru Kwairanga, Chairman of NGX Group, highlighted India’s success as an economic powerhouse, emphasising the parallels between the two nations.

“We are here to learn from your experiences as a vibrant, innovative, technology-driven exchange in a bustling economy,” Dr. Kwairanga remarked.

Dr. Emomotimi Agama, SEC Nigeria’s Director-General, stressed the regulatory benefits of the visit, stating that adopting global best practices would enhance transparency and investor confidence in Nigeria’s capital markets.

Mr. Temi Popoola, Group Managing Director and CEO of NGX Group, highlighted the significance of this partnership, noting: “By learning from the National Stock Exchange of India, we aim to enhance our operational efficiency and introduce cutting-edge solutions tailored to our market’s needs.”

Mr. Ashishkumar Chauhan, Managing Director and CEO of NSE India, expressed his enthusiasm for collaboration, highlighting NSE’s contributions to India’s economic development and its success in increasing retail participation and facilitating capital raising for companies.

The delegation engaged with various Indian financial entities, including Deutsche Bank India and the Securities and Exchange Board of India (SEBI), to discuss trading dynamics, governance, and regulatory frameworks. A visit to the National Payments Corporation of India (NPCI) provided insights into payment systems infrastructure, while a strategic meeting with Tata Consultancy Services (TCS) focused on leveraging technology for cost optimization and operational efficiency.

The ceremonial market closing at NSE India symbolised the commitment to fostering deeper collaboration between the two nations. These engagements reaffirm the shared vision of NGX Group, SEC Nigeria, and NSE India to drive market innovation, leverage technology, and unlock new opportunities for growth in their respective markets.