Business
NGX Digital Investment Platform Gets SEC Approval
Securities and Exchange Commission (SEC) has approved the Nigerian Exchange Group’s Investment, a digital platform designed to streamline public offerings and rights issues in the capital market.
In a statement made available to newsmen, the NGX noted that the platform was live, promising an efficient, convenient, and seamless experience for managing primary market transactions.
It stated that the platform was built on the success of the country’s first digital public offering in 2021, which attracted over 150,000 new retail investors, with 75 per cent being female and 85 per cent under the age of 40.
It noted that the platform aimed to enhance transparency and accessibility in primary market transactions.
According to NGX, the launch of Invest coincides with the Central Bank of Nigeria’s banking recapitalisation directive, which has led to numerous subscription offers and rights announcements by Nigerian banks.
The organisation disclosed that Access Holdings, FCMB Group, and Fidelity Bank were utilising the NGX Invest APIs to distribute their offerings to retail investors, with more banks in the process of onboarding.
The Drector-General of the Securities and Exchange Commission, Emomotimi Agama, commended the initiative, stating, “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.
“Our focus is on creating an enabling regulatory environment that promotes innovation without compromising compliance or investor protection”.
The Group Chairman of NGX Group, Umaru Kwairanga, praised the regulator, noting, “The supportive regulatory environment has provided a solid foundation that enabled the swift delivery of the platform.
“This reflects our mutual commitment to market development and will undoubtedly contribute to boosting the participation of retail investors in the capital market”.
He added that the integration of technology, strong partnerships, and collaboration, alongside a positive policy environment, would be essential to Nigeria’s economic development.
Also, the Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, expressed enthusiasm for the new platform, stressing its significance in NGX Group’s digital transformation journey and its potential to enhance market access and foster economic growth.
“We sincerely appreciate SEC and CBN for their strong support and leadership. Our intermediaries and partners, including the Central Securities Clearing System, have been instrumental in achieving this success”.
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.