Popoola, Yuguda, Agboola Chart Course for Technological Advancements in Nigeria’s Capital Market

Friday
October 01, 2021 / 08:32 PM / by NGX/ Header Image
Credit:  
NGX

 

Nigerian Exchange (NGX) Limited brought
together a caste of leading industry experts to dimension the digital
transformation of the financial services space with a keen focus on the
Nigerian capital market at its inaugural NGX TechNovation Conference. The virtual
event with the theme, Technology, Platforms and Markets held on Thursday, 30
September 2021 and featured critical discussions around
technology, partnerships and innovation that can boost
the advancement of the Nigerian economy.

 

Speaking during the conference, the Chief
Executive Officer, NGX, Mr. Temi Popoola, CFA noted, “The conference is
particularly important to us at NGX because we have stepped into an era that
signals a new horizon of opportunities. NGX is a technology powerhouse that
leverages smart business models to deliver vertical platforms across capital
formation, investment, capacity building, market development and a plethora of
other services within the capital markets ecosystem. We are committed to
developing innovative solutions that drive, not just internal efficiency at the
exchange but that support wider efforts by various stakeholders at ensuring a
full digitalization of the Nigerian capital markets. We are extending our
platform competencies in line with our strategic aspirations while leveraging
best in class digital innovation to deliver value to our stakeholders and
markets.”

 

In giving his goodwill message at TechNovation, the
Director General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda
stated, “I would like to begin by commending Mr. Temi Popola, CEO, NGX and his
team for putting together and event like this which shows our resilience as a
people and ability to face challenges. The theme  of today’s conference, Technology, Platforms and Markets indeed captures the mood in world today and the
inevitable coming together of the three segments in view of the COVID-19
pandemic which has forced us all to stretch possibilities and adopt new ways of
performing our functions. These recent shifts certainly pose a challenge and a
huge opportunity to both financial sector regulators and conventional financial
services providers like NGX. It is, therefore, important that we facilitate
conversations like this to ensure we strike the right balance between
innovation, integrity and protection of investors, without whom there will be
no markets”.

 

This was immediately followed by the keynote address
delivered by Co-Founder and CEO, Flutterwave, Olugbenga Agboola, who noted, “As
of today, we are in the information age where technology is leapfrogging every
business model and infrastructure we can think about. This has of course
facilitated growth that we see across the landscape in different terrains. A
key driver in the proliferation of technology solutions in Nigeria has been mobile
penetration and we expect to see continued growth in this regard. Against the
backdrop of evolving solutions, African startups have raised over $1Billion in
funding which is unprecedented for technology companies. The industry must
however recognise that funders and regulators are the biggest stakeholders that
must work together to drive digitalisaton across Africa and provide a platform
for capital raising and global recognition for Nigerian companies at all
stages.”

 

The event also featured a presentation from President,
Africa Fintech Network, Dr. Segun Aina who commented thus, 2I commend NGX
Limited for putting this conference together, as it shows continued commitment
to digital initiatives that can reposition and improve the  Nigerian Capital
Market and ensure its leadership position not only in Africa and across the
world. I would also like to acknowledge the contributions of NGX to the Fintech
Association of Nigeria of which it is an early member and continues to
contribute and leverage on its membership and also support the growth of the
Nigerian capital market.”

 

NGX TechNovation was a truly inspired event with two
panel sessions that provided insights into a wide spectrum of topics. The first
panel session themed, The Path to Exponential Growth – New Technology,
Platforms, Emerging Markets,
highlighted, the need for stakeholders to take
a proactive and deliberate approach to building infrastructure that will
support the growth of technology companies and the adoption of innovative
solutions in operating businesses and creating value within the industry. The
panel featured Founder & General Partner, Future Africa, Iyin Aboyeji;
Partner, McKinsey & Company, Topsy Kola-Oyeneyin; Country Manager, Opay
Nigeria,; Divisional Head, Listings Business, NGX, Mr. Olumide Bolumole; with
Director, Frontier/SSA Banks & FinTech Equity Research, Renaissance
Capital, Adesoji Solanke serving as moderator.

 

The second session of the day focused on the topic, Beyond
Tech – Partnerships, Business Models, Innovation, Data and Regulation
and
highlighted the interconnectedness of stakeholders within the business
ecosystem that requires extensive stakeholder engagement and forward thinking
partnership and collaborations to harness the competitive advantage across the
spectrum. Speakers on the panel were Executive Commissioner
(Operations), Securities and Exchange Commission, Dayo Obisan; Founding
Partner, Ventures Platform, Kola Aina; Chief Executive Officer &
Co-Founder, F10, Andreas Itern; Senior Ambassador, Seedstars Nigeria, Alessia
Balducci; Partner, Microtraction, Chidinma Iwueke; with Chief Customer
Experience Officer, Interswitch Group, Oremeyi Akah as moderator.

 

Showcasing NGX’s technology investments over the
years, NGX TechNovation featured a video production on the array of products
and services NGX provides leveraging technology for the benefit of its various
stakeholder groups.

 

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Minnie Arwood

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