The stock market celebrates six decades of activity amid a series of important events that have made the market the most technologically advanced and second-largest market in Africa.
The Lagos Stock Exchange (LSE) was founded on September 15, 1960, but began operations on August 25, 1961; it was later converted to the Nigerian Stock Exchange (NSE) and now the Nigerian Exchange Group (NGX Group) Plc.
The stock exchange was also converted from a private limited company to a joint non-profit organization owned by its members and converted to a public limited company.
The stock exchange has also moved from open manual trading based on the screamer exchange platform to an automated trading system that enables real-time online trading and access to traders. Stockbrokers and their accredited investors can trade in the Nigerian market from anywhere in the world.
In celebration of the diamond milestone, Nigerian Exchange Group (NGX Group) Plc President Otunba Abimbola Ogunbandjoenthusiasticallythanked the early registrants for the rules, including RSV Scott, RepresentativeK.T. Bowing& Nigeria Ltd .; Chief Theophilus Adebayo Doherty; Sir Odumegwu Ojukwu; Mr. Akintola Williams and Alhaji Shehu Bukar as well as John Holt Limited and Nigeria Investment Company Limited (ICON).
“We respect the vision of seven people, and this organization with the Nigerian spirit has set new ground by initiating the exchange, and we are proud of our history of excellence spanning six decades of this century.“From the beginning, when only 19 securities were listed for trading, we have now checked and sold over 300 securities worth approximately 35 trillion naira,” said Ogunbandjo.
In recognition of the contributions of the capital markets ecosystem, Group CEO, NGX Group Plc, Oscar Oniema, praised the invaluable contributions of the stakeholders who were partners.
“For business licensees, issuers, regulators, governments and their agencies, the media and other stakeholders, we reaffirm your support and reaffirm our commitment to building a team of market infrastructures that support your business goals throughout the value chain for years to come, ”Oniema said
He emphasized the ongoing efforts to develop the existing heritage and noted that this is in line with the innovative spirit of the people who lived there. The founders continued to manage the Exchange’s operations, and the recent language processing allowed the Exchange to transform itself into a revenue-driven,shareholder-controlled and competitive marketplace. organization.
Based on sixty years of growth and partnerships, the NGXgroup is now positioned as a key player in increasing competitiveness on a larger scale, he said.
“Our recently launched Africa Made of Stocks campaign further reinforces our commitment to realizing the dreams of our founding fathers not only in Nigeria but also in Africa,” said Oniema.
It should be recalled that the NGX Group recently renewed its brand during an official launch by President Muhammadu Bukhari. The new structure of the NGX Group includes three wholly-owned subsidiaries: Nigerian Exchange (NGX) Limited, an exchange managed by Mr. TemiPopula as CEO; NGX Regulation (NGX RegCo) Limited, independently managed by Ms TinuadeAve as CEO, and NGX Real Estate (NGX RelCo) Limited, a real estate company with Mr Gabriel Igbeka is acting CEO.