NGX, CSCS  seeks stronger synergies to foster capital market growth

By Cynthia Ezekwe

The Nigerian Exchange Limited(NGX) and Central Securities Clearing System (CSCS) have called for stronger synergies to foster the growth of the capital market.

This was made known at the CSCS 25th anniversary ceremony held recently in Lagos, where both entities celebrated their long-standing cooperation and commitment to sustain innovations that will foster the growth of the capital market.

Temi Popoola, NGX chief executive officer noted that CSCS occupies a critical position in the capital market,and the both organisations have worked synergistically,to boost transaction volumes and drive up  liquidity in the capital market.

Popoola commended  CSCS for its support for NGX’s initiatives and appreciated the company’s performance and the value they create for shareholders despite the challenging economy.

“We understand that amidst the uncertainty and tough business climate, you have shown that you can propel the company to greater heights; On this note, we at NGX look forward to more cooperation, especially as we aim to champion the next stage of the market’s development, which will involve transformational technologies like Blockchain,’’he said.

On his part, Haruna Jalo-Waziri, expressed delight at the collaboration between both parties and called for a stronger one.

He commended the NGX in establishing  the central clearing and settlements firm and structuring the company for consistent growth through its 25 years of existence

“We are optimistic that we can create more synergies to grow the market and create more value for the capital market and Nigerian economy,” Waziri stated.