Experts chart course for Technological advancements in Capital Market

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’, featured critical discussions around technology, partnerships, and innovation that can boost the advancement of the Nigerian economy.

Speaking during the conference, Chief Executive Officer, NGX, Mr. Temi Popoola, said, “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 the 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,” he said.

In his goodwill message, the Director-General, Securities and Exchange Commission (SEC), Mr. Lamido Yuguda said, “I would like to begin by commending Mr. Temi Popola, CEO, NGX, and his team for putting together an 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 the 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,” he said.

Co-Founder and Chief Executive Officer, Flutterwave, Olugbenga Agboola, said, “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,” he stated.