While recent years have seen many more established capital markets in the red, Nigeria’s capital markets have shown positive growth. At the close of 2022 the Nigerian Exchange (NGX) had a 19.9% return on investment, earning it the fourth best-performing index in the world, according to the MSCI-All Country World Index which tracks the performance of some 3000 stocks in 48 developed and emerging market countries. This success has come despite a battery of international headwinds, starting with the…
From The Report: Nigeria 2023
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Nigeria’s capital markets have demonstrated positive growth despite the downturn in regional capital markets and global headwinds. Indeed, at the close of 2022 the rebranded Nigerian Exchange (NGX) had a 19.9% return on investment, making it the world’s fourth-best performing index. Key to sustaining this momentum in the coming years is attracting blue-chip companies to list on the NGX and easing access to capital markets by expanding retail channels. Despite turbulence in the bond and sukuk (Islamic bond) market, Nigeria continues to attract foreign and domestic interest, and new rules, tighter regulations, digitalisation and paperless transactions are likely to further enhance its attractiveness. The country’s capital markets already offer a wide range of products, and further innovations are expected to broaden and deepen the market.
This chapter contains an interview with Tapas Das, Managing Director and CEO, NG Clearing.