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NGX: Nigeria Joins Global Best Practice on Exchange Structure

Mary Nnah The birth of the Nigerian Exchange Group (NGX) from what was hitherto known as the Nigerian Stock Exchange (NSE) has brought Nigeria to par with the global best practice. Through what has been an eventful history, the Exchange, under Mr. Oscar Onyema, its GCEO, has eventually succeeded, despite all odds, in joining the global league of demutualised exchanges. Scheduled to be launched soon, it has been a long journey from when the idea was first mooted to its achievement through the passage of the Demutualisation Act by the Nigerian National Assembly, and approvals by both the Securities and Exchange Commission (SEC) and the Corporate Affairs Commission (CAC).

Demutualised NGX, Heralds New Era for Capital Market, Says Buhari

By Goddy Egene President Muhammadu Buhari has described the demutualisation and transitioning of Nigerian Stock Exchange (NSE) to the Nigerian Exchange Group (NGX) Plc as the beginning of a new era for the nation’s capital market. Buhari spoke yesterday when the NGX Group hosted him at the launch of its campaign titled: ‘The Stock Africa Is Made Of.’ The demutualisation of the NSE led to the creation of the Nigerian Exchange Group Plc (NGX Group) with three operating subsidiaries. The subsidiaries are: Nigerian Exchange Limited (NGX Limited) that will be the operating exchange; NGX Regulation Limited (NGX REGCO), the independent regulation company; and NGX Real Estate Limited (NGX RELCO), the real estate company.

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