NGX Reaffirms Commitment to Enhancing Investor Protection, Transparency
Kayode Tokede
The Nigerian Exchange Limited (NGX) has reiterated its commitment to enhancing investor protection measures, reinforcing its dedication to maintaining a secure and transparent trading environment.
At a recent event, NGX highlighted its efforts to implement robust mechanisms designed to safeguard investors and uphold market integrity. This renewed focus addresses evolving market dynamics and the growing need for comprehensive safeguards in the investment landscape.
“At NGX, our primary goal is to ensure that investors can engage the market with confidence,” said Jude Chiemeka, Chief Executive Officer, NGX, during a panel session at the Afrinvest 2024 Banking Sector launch in Abuja, themed “Recapitalisation: Catalyst for a $1 Trillion Economy?” Chiemeka underscored the exchange’s commitment to reforming listing rules and encouraging more companies to go public as part of a broader strategy to fortify the capital market.
“Our dedication to investor protection is integral to our mission of maintaining a fair, transparent, and efficient market,” the CEO added.
NGX is collaborating closely with regulatory bodies to refine and enforce regulations that protect investors from potential risks and fraudulent activities. This includes enhancing disclosure requirements and improving oversight mechanisms.
The Exchange is also investing in advanced technology to upgrade surveillance and monitoring systems, aiming to detect and prevent market manipulation and ensure the integrity of trading practices.
To promote informed decision-making, NGX is expanding its investor education programs. The NGX X-Academy, a specialized learning centre, offers tailored capital market courses to equip business leaders with the knowledge needed for sustainable business growth. X-Academy provides a broad range of courses designed to bridge knowledge gaps for capital market professionals, investors, and the general public, thereby promoting financial literacy and inclusion.
Additionally, NGX is improving its processes for handling investor complaints and disputes, including establishing dedicated channels for addressing concerns and ensuring timely resolutions.
In 2023, NGX Regulation Limited (NGX RegCo), a sister company of NGX under the NGX Group umbrella, introduced the “Code of Conduct for Approved Persons of Trading License Holders.” This code aims to promote high professional standards and ethical conduct within the capital market, fostering professionalism, integrity, and fairness in interactions with clients, employers, regulators, and other stakeholders.
NGX is reinforcing its code of conduct to ensure the highest standards of ethical behaviour among market participants, including stringent measures to address conflicts of interest and ensure transparency in transactions.
The Exchange’s ongoing commitment to these initiatives reflects its broader vision of creating a resilient and trustworthy market environment. NGX’s proactive approach underscores its role as a key player in the Nigerian financial sector, dedicated to enhancing investor confidence and market stability.
As NGX continues to strengthen its investor protection efforts, the Exchange remains focused on supporting sustainable market growth while upholding principles of fairness and transparency.
