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September 23, 2021
Business

Explore Emerging Frontiers Market, Osinbajo Urges NGX

Osinbajo Commends Stock Exchange Demutualisation
Vice President Yemi Osinbajo (File Photo)

 

Vice President Yemi Osinbajo has urged the management of the Nigerian Exchange Limited to explore more avenues of growing the stock market by venturing into emerging frontiers.

He said this on Monday at the State House in Abuja when he met with the company’s management led by its Chief Executive Officer, Mr. Temi Popoola.

The Vice President also commended the completion of the demutualisation of the stock exchange, describing it as a welcome development, as Popoola made a presentation on the post-demutualisation of the company’s activities.

This is the process of the transition of a stock exchange from a mutual association of exchange members, operating on a not-for-profit basis to a limited liability company, operating for-profit and accountable to shareholders.

Speaking further, Professor Osinbajo assured the management that the government will create policies that will enable the company and the stock market to reach greater heights.

In his remarks, Popoola said the organisation has been repositioned for profit and is now aligned to the tastes and preferences of the market.

According to him, under the new arrangement, the market will be opened for more companies to be listed, resulting in more revenues for the government as listed companies pay more taxes and are more responsive to the environment they operate in.

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