NGX seeks partnership with Hong Kong’s stock market
Umaru Kwairanga, chairman of the Nigerian Exchange Group, has urged stronger collaboration between Nigerian Exchange Ltd and the Stock Exchange of Hong Kong.
Mr Kwairanga made this call during a high-level board interaction between both exchanges held in Hong Kong on Tuesday.
In a statement, the NGX chairman said the partnership would bolster market development, enhance expertise sharing, and align operations with global best practices.
He praised the Hong Kong stock market for its resilience, innovation, and continued relevance, calling the city a model of economic excellence.
“Hong Kong has always been a marvel and an inspiration to the world. Its people have consistently aspired higher than its skyline, achieving success despite shifting global conditions,” he added.
He lauded the exchange’s century-long history, wide range of listed securities, and its strategic position as a financial gateway between China and global markets.
Mr Kwairanga noted that NGX, established over 60 years ago, had recently undergone significant transformation. He highlighted NGX’s evolution from a mutual entity to a for-profit public company over the past three years.
He acknowledged that the reforms, while promising, also introduced challenges around governance, regulation, technology, and market growth.
“The Hong Kong Exchange has faced similar hurdles. We are here to learn and explore collaboration that drives mutual advancement,” he said.
The NGX chairman restated the growing necessity of partnerships in today’s connected financial environment.
He noted that collaboration was vital for exchanges seeking to remain competitive and globally relevant.
“In this fast-changing, borderless world, such engagements will shape the future of exchanges like ours,” Mr Kwairanga stated.
He expressed interest in multiple areas for cooperation between NGX and the Hong Kong Exchange.
Mr Kwairanga voiced confidence that the visit would launch a lasting relationship with shared gains and long-term value.
He added that the dialogue aligns with NGX’s broader strategy to foster global ties and spur innovation in Nigeria’s capital market.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
TAJBank signs agreement for N20 billion Mudarabah Sukuk bond issuance
The bank’s maiden ₦10 billion Sukuk bond on the NGX in February 2023 was over-subscribed by 115 per cent.
NationWide
Nigerian mothers beg Tinubu for peace amid bandits, Boko Haram rampage
“I have not seen or heard where the abusers were punished or made to pay for their crimes,” said Ms Nyor.
World
NATO rearmament signals preparation for conflict with Russia: Official
The Russian foreign ministry states that Moscow remained open to dialogue with NATO, but only on equal terms.
States
Trader jailed 18 months for stealing machine parts
The convict stole a kick-starter, a spanner and metal base, all worth N1.2 million.
States
Trader jailed two years for stealing palm oil
The magistrate, Shawomi Bokkos, summarily tried and sentenced the convict.
Politics
Buhari donates cow to corps members in Daura
Former President Muhammadu Buhari has donated a cow and other food items to corps members serving in his hometown Daura.
