By Alexander Chiejina
A digital transformation push has got to a cracking start at the Nigerian Exchange Limited (NGX) with the constitution of an advisory panel that will drive a holistic agenda on digitisation that the NGX is looking to unfold in the market and the economy.
The panel, aptly named NGX Digital and Technology Products Advisory Panel is expected to provide a forum for the Exchange to interact with the capital market community and the fintech ecosystem to enhance and increase NGX’s digital product offerings.
Among other things, the panel is meant to provide insight into product innovation and propose ways to increase technology listings on the NGX; recommend ways to boost data and digital market liquidity; provide thought leadership by developing whitepapers, create frameworks and make recommendations; and a host of advisory matters like market trends, risks and sentiments.
In a statement made available to Business A.M., Olufemi Oyenuga, chief digital officer, NGX, noted that technology and innovation are the driving forces of progress, and that the NGX is committed to leveraging both to transform the Exchange into a leading force of product development in the capital market.
“With the establishment of the committee, we are poised to explore new frontiers, pool groundbreaking ideas and strategies, unlock exciting opportunities for the future addressing creativity, innovation and sustainability,” Oyenuga added.
It will be recalled that the Securities and Exchange Commission (SEC) approved the Rules for Listing on the NGX Technology Board in December 2022. The creation of the committee is part of a continuous process to further scale the capacities of NGX in the technology ecosystem.
Appointed to the panel are Tope Kola-Oyeneyin (McKinsey); Iyin Aboyeji (Future Africa); Kola Aina (Ventures Platform); Idris Saliu (Ceviant); Fope Adelowo (Helios Group); Richmond Bassey (Bamboo); Tayo Oviosu (Paga); Wale Ayeni (International Finance Corporation); Ahmad Zuaiter (Jadara Capital Partners LLC) and Adedeji Olowe (LendsQr).
The NGX explained that as the sustainable exchange championing Africa’s development, recognises the potential of diverse viewpoints and aims to leverage the extensive networks of experts across the budding technology ecosystem and the capital market in designing breakthrough frameworks to position itself for global competitiveness.
What does Africa need to develop? Certainly not aid