NGX, UBA to collaborate on improving participation of Nigerians in Diaspora in the Capital Market

Nigerian Exchange Limited (NGX) and United Bank for Africa (UBA) are set to collaborate on Diaspora investments in the Nigerian capital market. This was revealed at the Closing Gong Ceremony held to welcome the newly appointed GMD of UBA, Mr. Oliver Alawuba, DGM, Mr. Muyiwa Akinyemi and other management on Wednesday, 14th September 2022.

Mr. Temi Popoola, Chief Executive Officer, NGX stated that “The Exchange is positioned to solve challenges in the capital market, a step we believe sets us ready for the future. Through technology, we are repositioning the Exchange in our interaction with issuers and other capital market stakeholders. In December 2021, we successfully introduced the first digital offer platform that attracted a large amount of retail participation from the younger Nigerian demography. We are, therefore, encouraging UBA to take advantage of this digital platform for future equity capital formations and broaden its shareholding structure.”

Popoola also noted that the strategic direction for the Exchange is to attract the underbelly of the Nigerian economy and Nigerians in Diaspora, giving other product options to those interested in digital assets and not stocks.

GMD, UBA, Mr. Oliver Alawuba talked about the need to do a lot in ensuring millennials and Gen Z key into opportunities at the Exchange. “We need to collaborate on Digital Banking to ensure the younger generation can conveniently buy into the stocks traded on the Exchange for enormous opportunities. We are also open to collaborate with NGX to attract the Diaspora community to invest in the Nigerian capital market.”

Director, NGX and Chairman, NGX Real Estate Limited, Erelu Angela Adebayo, while congratulating the new GMD noted that NGX will continue to stimulate the growth of the Nigerian economy while pursuing strategic partnership with both public and private sector stakeholders.

Picture caption:

L – R: Group Company Secretary, UBA, Mr. Bili Odum; Executive Director Finance and Risk Management, UBA, Mr Ugo Nwaghodoh; Divisional Head(DH), Business Support Services, Nigerian Exchange Limited, Mrs. Irene Robinson-Ayanwale;  Deputy Managing Director, United Bank for Africa (UBA) Plc, Mr. Muyiwa Akinyemi; Director, Nigerian Exchange (NGX) Ltd , Erelu Angela Adebayo;; Chief Executive Officer, NGX, Mr. Temi Popoola and Group Managing Director/CEO, United Bank for Africa(UBA) Plc, Oliver Alawuba;  Executive Director, North, UBA, Ms Emem Usoro and DH, Capital Markets, NGX; and Executive Director/GCOO, UBA, Mr Alex Alozie,  during the visit of recently appointed UBA’s executive management and ceremonial strike of  the closing gong at the floor of the Exchange by Mr. Alawuba