Sir Roger Gifford (UK Emerging Capital Markets Taskforce Champion) and Mr. Aig-Imoukhuede (Nigeria Emerging Capital Markets Taskforce Champion) will jointly launch a report on capital markets reform in Nigeria at a business event in Lagos on July 28.
The report reviews and makes recommendations for reforms that will deepen Nigerian capital markets and attract domestic and international investments, to the benefit of Nigeria and Nigerians.
A statement by Communication Manager, British Deputy High Commission, Lagos, Wale Adebajo, says the report will focus on four key areas: integrity of the market; regulatory infrastructure; market incentives and barriers; and market development.
The report was produced by the Law Society of England & Wales and the Nigeria Capital Market Solicitors Association.
Nigeria and UK delivery groups bringing together government and industry experts from both countries, were established to identify areas of capital market development where the combination of UK and Nigeria private and public sector expertise will increase capital flows between Nigeria and the UK, for mutual benefit.
The ‘Nigeria-UK Capital Markets Project’ was officially launched in Lagos last year by the UK and Nigeria Champions of the project – Sir Roger Gifford (Alderman of the City of London and former Lord Mayor of London), and Mr. Aig-Imoukhuede (CON, President of the Nigerian Stock Exchange).
Sir Roger Gifford and members of the UK delivery group will be visiting Lagos and Abuja on 28 – 30 July for a series of meetings with key stakeholders in government and the private sector, alongside the Nigeria delivery group.
Speaking before his visit, Sir Roger said: “I am delighted this joint report is shortly to be launched in Nigeria. I am impressed by the dynamism and energy of the people I have met in the capital markets sector, and I believe that their commitment to the reform of Nigeria’s capital markets can benefit both people and economy, allowing greater access to funding for companies, and investment opportunities for institutions and individuals, both at home and abroad.”
Speaking on the initiative, Mr. Aig-Imoukhuede said: “I am particularly delighted that the ECMT Nigeria Capital Markets Project has reached its first milestone of producing a report which addresses regulation and transparency in the Nigerian capital market. The initiative has the potential to greatly impact further development of our capital markets and boost capital flows between the UK and Nigeria”
In 2013, the UK’s Foreign and Commonwealth Office launched the Emerging Capital Markets Taskforce under the umbrella of HM Treasury’s Financial Services Trade and Investment Board, with an objective to increase the openness and depth of capital markets in key markets through fostering innovative collaboration between Government and the private sector.
