Nigerian Exchange Group (NGX Group) says it is constantly on the lookout for opportunities to finance projects in Nigeria and for capital raising.
The Group Managing Director and CEO of NGX Group, Temi Popoola, said the organization is committed to identifying new avenues for financing and capital formation.
Speaking during an interview with Nairametrics at the First Bank ground-breaking event in Lagos, Popoola highlighted how the proposed Lagos International Financial Centre (LIFC) symbolizes growing investor and stakeholder confidence in Nigeria’s economy.
The LIFC initiative, driven by the Lagos State Government and Enterprise NGR, aims to position Lagos as a leading financial hub globally.
Enabling environment for seamless trading
It is designed to create an enabling environment for seamless trading, attract foreign investments, and boost the competitiveness of Nigeria’s financial markets.
“As a financial market intermediary company, the NGX Group is constantly looking for opportunities to finance, opportunities for capital formation, [and] capital raising,” Popoola explained.
He added, “The LIFC is envisioned to establish Lagos as a financial hub akin to Dubai, Korea, New York, and London. A hub that offers a free zone with tax-free incentives, standardized regulatory frameworks, and human capital development—helping Lagos compete on a global scale. Ultimately, this benefits both the country and the economy.”
Popoola emphasized the NGX Group’s commitment to playing a central role in driving this initiative.
“We want to ensure that the exchange is at the very center of pushing initiatives like this. We’ve engaged with the governor and other exchanges, and we are committed to improving the quality of our ecosystem,” he noted.
What you should know
Lagos State Governor Babajide Sanwo-Olu described the Lagos International Financial Centre as a transformative move to solidify Lagos as Africa’s foremost financial hub.
The governor highlighted the project’s potential to foster capital market growth, attract global investments, and drive financial sector innovation.
“As Nigeria’s largest economic and financial centre, Lagos plays a critical role in driving the nation’s capital markets. Our licensed exchanges are at the heart of this ecosystem, facilitating investment flows, enhancing market liquidity, and promoting financial literacy,” Sanwo-Olu stated.
Aigboje Aig-Imoukhuede, co-chairman of the LIFC project alongside Governor Sanwo-Olu, urged CEOs of licensed exchanges, including NGX Group, FMDQ Group Plc., NASD OTC Security Exchange Limited, and Lagos Commodities and Futures Exchange (LCFE), to adopt global best practices. He described the LIFC as a “game changer,” calling for strategies that would enhance liquidity, innovation, and market depth within Lagos’s financial ecosystem.
He described the LIFC as a “game changer” and called on the exchanges to adopt strategies that enhance liquidity, innovation, and market depth.
