The Nigerian Exchange Group (NGX Group) has launched NGX Invest, a digital platform designed to revolutionize public offerings and rights issues in the Nigerian capital market. The platform, now live with approval from the Securities and Exchange Commission (SEC), promises a seamless and efficient experience for managing primary market transactions.

Building on the success of Nigeria’s first digital public offering in 2021, which drew over 150,000 new retail investors, NGX Invest is poised to further enhance transparency and accessibility. The platform’s launch is timely, coinciding with the Central Bank of Nigeria’s (CBN) recapitalization directive, which has spurred numerous offers for subscription and rights announcements by Nigerian banks.

“The e-Offering Platform aligns perfectly with our objective of futureproofing the Nigerian capital market,” said Dr. Emomotimi Agama, Director-General of the SEC. “By digitalizing and automating financial intermediation processes, we are fostering a more efficient, transparent, and inclusive capital market.”

Alhaji (Dr) Umaru Kwairanga, Group Chairman of NGX Group, acknowledged the regulators’ support, stating, “The supportive regulatory environment…reflects our mutual commitment to market development and will undoubtedly contribute to boosting the participation of retail investors in the capital market.”

Temi Popoola, Group Managing Director/Chief Executive Officer of NGX Group, emphasized the platform’s importance in the group’s digital transformation journey and its potential to enhance market access and economic growth. He expressed gratitude for the strong support from the SEC and CBN, as well as the instrumental role played by intermediaries and partners like the Central Securities Clearing System (CSCS).

Jude Chiemeka, CEO of NGX, highlighted the platform’s transformative potential: “NGX Invest addresses the demand for a more efficient and transparent process in managing public offers and rights issues. It will expedite reconciliation and allotment processes, reduce unclaimed dividends, and boost investor confidence.”

The platform is already being utilized by Access Holdings Plc, FCMB Group, and Fidelity Bank Plc, with more banks in the process of onboarding. Investors can access the platform at https://invest.ngxgroup.com.

As Nigeria strives for its capital market to play a larger role in economic development, NGX Invest, with its integration of technology, robust partnerships, and regulatory support, represents a significant step forward.