UK, Nigeria Unveils Emerging Capital Market Taskforce

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The Nigeria-United Kingdom Capital Markets Project Tuesday unveiled the Emerging Capital Market Taskforce, which it said, would deepen market capacity and attract domestic and international investments to the country.

The group also launched its inaugural report on the state of the Nigerian Capital Markets, with detailed recommendations for the legal and regulatory environment, noting that one of the recommendation “is to establish a platform through which market participants can collectively focus on key issues around market development.”

The President of Nigerian Stocks Exchange (NSE), Mr. Aigboje Aig-Imoukhuede disclosed this at a news conference at the State House, Alausa alongside Lagos State Governor, Mr. Akinwunmi Ambode, British Deputy High Commissioner, Mr. Ray Kyles and former Mayor of London, Sir Roger Gifford among others.

Aig-Imoukhuede said the Nigeria Delivery Group, the local execution arm for the Emerging Capital Markets Task Force Nigeria project (ECMT), and a collective made up of Capital Markets operators, regulators, platforms and experts, had responded to the recommendation by pledging to institutionalize their interim structure.

He outlined other recommendations, which he said, focused on establishing a broad industry platform, made up of industry participants “to represent their interests, develop initiatives to raise transparency, governance and performance standards across the industry and to canvas for relevant legislation and regulatory changes.”

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