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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.

 

Watch Video

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Let’s unlock Nigeria’s housing deficit, Osinbajo tasks financial market experts

Let’s unlock Nigeria’s housing deficit, Osinbajo tasks financial market experts

Vice President Yemi Osinbajo SAN gets in the audience the FMDQ Team led by its CEO Mr. Bola Onadele at the Point out Home, Abuja. 20th Sept, 2021. (Image by Tolani Alli)

In the quest to near the housing deficit in the place, Vice President Yemi Osinbajo, SAN has tasked money marketplace authorities to aid government’s efforts by building an appropriate housing finance product that will noticeably rework the housing sector on a significant scale, Business Class.

Prof. Osinbajo said this on Monday when he obtained on a courtesy go to to the Presidential Villa, a delegation from the FMDQ Team led by its CEO, Mr Bola Onadele.

He also been given a delegation from the Independent Petroleum Producers Group right now.

Economic authorities say the housing deficit in Nigeria is approximated amongst 18-22 million housing models, while the ratio of home loan finance to GDP in the place is only .5{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} it is 31{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in South Africa and 2{21df340e03e388cc75c411746d1a214f72c176b221768b7ada42b4d751988996} in Ghana and Botswana.

But just after listening to a presentation by the FMDQ delegation, Prof. Osinbajo said “I like the issue you built about the National Housing Blueprint. I quite strongly think that if we are ready to unlock the conundrum in the sector, we can get things functioning.”

In accordance to the Vice President, “in our ESP, we have anything on social housing but just one of the significant concerns there is how to market these properties, how we are ready to deliver the finance so that people can afford to get them. These are homes that are in the order of about N2 million or N2.5 million.

“But there are however constraints on account of the fact that we just do not have anything like a feasible housing finance model, I imagine it is time for us to do so. It just appears to be like like it has generally escaped our potential to uncover a actual remedy to the difficulty.”

Speaking on the risk of getting a product that will get the job done, Prof. Osinbajo famous that “everyone acknowledges that we are in very challenging instances. But I agree with you that the sheer vary and vastness of our potentials make it appear to be practically intuitive that we are sure to succeed.

“I have no question in my thoughts in any respect, that provided the right mix of policy initiatives, we can get these points carried out. And your characterization of what demands to be accomplished like attracting money and sustaining it is so crucial simply because ultimately, cash will go wherever it is very best taken care of.

“And if we are capable to attract it (mainly because we have the marketplace, we have almost everything likely for us), even in the worst of situations, despite the predicament, you discover that there is nonetheless a wonderful offer of curiosity.”

Speaking earlier, Mr Bola Onadele reported the check out was to advise the Vice President about the transformation getting spot in the FMDQ and the have to have for governing administration aid in expanding the financial market place for the gain of Nigerians and the economy.

Even though applauding the attempts of the Buhari administration in producing the setting for the transformation to manifest, Mr Onadele discovered locations of desire for financial commitment in the market place to include housing finance, and mobilizing cash for tasks in the transportation sector, between many others.

Fiscal Market Sellers Quotation (FMDQ) is Africa’s initially vertically built-in economical current market infrastructure (FMI) team, strategically positioned to provide registration, listing and quotation solutions, and is owned by the Central Bank and professional banking companies in Nigeria.

During the other conference with stakeholders in Nigeria’s oil and gas industry beneath the auspices of Unbiased Petroleum Producers Team (IPPG), the team counseled the Vice President’s peace endeavours in the Niger Delta in 2016 that ensured peace and protection of investments in the area at a time when the nation experienced a economic downturn.

Chairman of IPPG, Mr Abdulrazak Isa built the commendation right now even though he and major executives of the team compensated a courtesy visit to the Presidential Villa, Abuja.

In accordance to him, “Your Excellency, you have been a wonderful supporter of our association. Recall that a long time in the past, your unprecedented intervention assisted in resolving the safety scenario that we confronted in the Niger Delta area. Given that that time, we have not recorded a single incident of attack on our services.”

Contributing, the quick earlier president of the team, Mr Ademola Adeyemi-Bero additional that since the intervention of the VP when he frequented oil-manufacturing communities in the 8 states of Delta, Rivers, Akwa Ibom, Edo, Bayelsa, Imo, Abia and Ondo, “we have not experienced just one shutdown of our amenities.”

When soliciting the aid of the Federal Authorities in securing investments in the sector, Mr Isa disclosed that the crisis resolution model deployed by the VP in 2016 will be replicated by IPPG to handle emerging safety threats on oil and fuel facilities in the southeast.

The VP then assured the group of the Buhari administration’s commitment to the stability of lives and home, noting that federal government is open up to suggestions that would direct to lasting resolution of the disaster.

Prof. Osinbajo also called for collaboration among the Federal Governing administration and other stakeholders in the oil and gas sector in advocating for a just electricity transition pertaining to the world wide internet-zero emission target in 2050.


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Osinbajo Urges Financial Market Experts to Tackle Nigeria’s Housing Problem

Yemi Osinbajo

By Deji Elumoye

Vice President Yemi Osinbajo has charged the nation’s fiscal marketplaces experts to collaborate with government with a perspective to tackling Nigeria’s housing trouble.

He has therefore, tasked the professionals to create an acceptable housing scheme design which will drastically transform the housing sector on a big scale and shut the housing deficit in the country.

Osinbajo created this contact yesterday at the State House, Abuja, when he played host to the management of FMDQ Group led by its main govt officer(CEO), Mr. CEO, Mr. Bola Onadele.Koko.

FMDQ is Africa’s initially vertically built-in economical market infrastructure group, strategically positioned to providing registration, listing, quotation and noting providers built-in buying and selling, clearing

& central counterparty, settlement, and chance administration for economic market transactions depository of securities, as very well as facts and info providers, throughout the credit card debt funds, international exchange, derivatives and equity marketplaces, via its wholly owned subsidiaries.

Economic experts experienced set the housing deficit in Nigeria involving 18-22 million housing models, though the ratio of property finance loan finance to GDP in the country is only .5 per cent, 31 for each cent in South Africa, and 2. for each cent in Ghana and Botswana.

Talking soon after listening to a presentation by the FMDQ CEO, Osinbajo reported: “I like the level you designed about the National Housing Blueprint. I extremely strongly consider that if we are capable to unlock the conundrum in the sector, we can get items doing the job.”

In accordance to him, “in our ESP, we have one thing on social housing but a person of the critical difficulties there is how to current market these houses, how we are equipped to give the finance so that people can afford to buy them. These are homes that are in the buy of about N2 million or N2.5 million.’

“But there are however constraints on account of the point that we just do not have just about anything like a possible housing finance model, I feel it is time for us to do so. It just appears to be like it has usually escaped our ability to come across a actual resolution to the difficulty.”

On the possibility of having a model that will perform, Osinbajo observed that “everyone recognizes that we are in very hard instances. But I agree with you that the sheer array and vastness of our potentials make it feel virtually intuitive that we are certain to triumph.

“I have no doubt in my brain in any way, that specified the correct combine of coverage initiatives, we can get these items carried out. And your characterisation of what requires to be carried out like attracting money and sustaining it is so crucial because in the end, money will go the place it is best dealt with.

“And if we are equipped to bring in it (since we have the sector, we have all the things likely for us), even in the worst of periods, despite the scenario, you come across that there is even now a excellent deal of fascination.”

Previously in his remarks, Onadele said the go to was to advise the vice president about the transformation using put in the FMDQ and the want for govt help in growing the money sector for the reward of Nigerians and the financial state.

Whilst applauding the initiatives of the Buhari administration in creating the environment for the transformation to occur, Onadele recognized areas of fascination for expenditure in the marketplace to incorporate housing finance and mobilizing money for tasks in the transportation sector, among the many others.

He reiterated FMDQ’s determination to accomplishing its strategic roles as

a industry organiser, catalyst for capital formation, adviser to governments and regulators and economical marketplaces diplomat, to aid the advancement and implementation of progressive alternatives in the direction of attracting cash to improve productiveness in Nigeria, lessen unemployment, bridge the infrastructure

gap, and help Nigeria’s accomplishment of the United Nations Sustainable Development Goals.

Onadele also asserted that a single of the top priorities for FMDQ was to guidance the progress of commerce in Nigeria, postulating that commerce was the everyday living blood of each individual nation, and that flourishing and liquid dollars, money and foreign exchange markets ended up sine qua non in the improvement of Nigeria’s

trade, sector, and commerce. He indicated that FMDQ demonstrated its agenda in this respect as a result of the establishment of the FMDQ private marketplaces, to advertise the inclusion of non-public providers in the cash marketplaces, and give accessibility to lengthy-term non-public funds to small, medium,

and huge enterprises.

Also yesterday, at yet another conference with stakeholders in Nigeria’s oil and gas market beneath the auspices of Impartial Petroleum Producers Team (IPPG), the group recommended the VP’s peace efforts in the Niger Delta in 2016 that ensured peace and security of investments in the area at a time when the country endured a recession.

Chairman of IPPG, Mr. Abdulrazak Isa, declared that Osinbajo had been a fantastic supporter of the affiliation declaring “your unparalleled intervention helped in resolving the protection problem that we faced in the Niger Delta area. Considering the fact that that time, we have not recorded just one incident of attack on our facilities.”

When soliciting the guidance of the federal governing administration in securing investments in the sector, Isa disclosed that the disaster resolution product deployed by the VP in 2016 will be replicated by IPPG to tackle rising security threats on oil and fuel amenities in the southeast.

Also speaking, the quick earlier president of the team, Mr. Ademola Adeyemi-Bero, included that considering that the intervention of the VP when he visited oil-making communities in the 8 states of Delta, Rivers, Akwa Ibom, Edo, Bayelsa, Imo, Abia and Ondo, “we have not experienced just one shutdown of our facilities.”

Responding, the VP assured the team of the Buhari administration’s determination to the stability of lives and property, noting that federal government is open up to recommendations that would guide to permanent resolution of the crisis.

Osinbajo also named for collaboration between the Federal Governing administration and other stakeholders in the oil and fuel sector in advocating for a just strength changeover concerning the world-wide net-zero emission concentrate on in 2050.