The Nigerian Stock Exchange (NSX) is taking steps to future proof its capital markets.
With the launch of its digital platform NSX Invest, it plans to streamline and make more transparent public offerings and rights issues in the capital market, according to Africa Business Communities.
The launch coincides with the Nigerian Central Bank’s announcement of a banking recapitalisation directive, which has prompted several banks to issue rights and offers of subscriptions.
‘The e-Offering Platform aligns perfectly with our objective of future proofing the Nigerian capital market. By digitalising and automating financial intermediation processes, we are fostering a more efficient, transparent and inclusive capital market,’ says Emomotimi Agama, director-general of the Securities and Exchange Commission, which has given the platform its stamp of approval.
NGX CEO Jude Chiemeka says the platform ‘will expedite reconciliation and allotment processes, reduce unclaimed dividends and boost investor confidence’.
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