Nigerian Exchange Group (NGX Group), in partnership with the Securities and Exchange Commission (SEC) Nigeria, on Monday and Tuesday, in Mumbai, India, engaged in high-level engagements with the National Stock Exchange (NSE) of India and key players in the country’s financial ecosystem to enhance global partnerships within the Nigerian capital market.
The two-day visit to the NSE headquarters in Mumbai, brought together the leadership of SEC, NGX Group, and NSE to explore shared opportunities and strategies for driving innovation, market expansion, and sustainable growth.
Speaking during the visit, Alhaji (Dr.) Umaru Kwairanga, Chairman of NGX Group, lauded India’s achievements as a global economic powerhouse, noting the visit was to enable the Nigerian team “learn from your experiences as a vibrant, innovative, technology-driven exchange in a bustling economy.”
Emphasizing the regulatory benefits of the visit, Dr. Emomotimi Agama, Director-General of SEC Nigeria, said such collaborations “allow us to adopt global best practices in regulating and developing our markets. The insights gained from this engagement will play a critical role in shaping policies that promote transparency, stability, and investor confidence.”
On his part, Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group reinforced the importance of this collaboration.
For hi, the “interaction marks a new chapter in our commitment to fostering innovation and driving growth in Nigeria’s capital markets. By learning from the National Stock Exchange of India, a leader in leveraging technology for market development, we aim to enhance our operational efficiency and introduce cutting-edge solutions tailored to our market’s unique needs.”
Responding, Ashishkumar Chauhan, Managing Director and Chief Executive Officer of NSE India, expressed pride in the contributions of NSE to India’s economic development.
The NSE, he noted, “has achieved for the Indian economy and government, particularly in increasing retail participation and facilitating capital raising for companies, including small and medium-sized enterprises. We look forward to exploring collaborations with NGX Group to exchange knowledge and foster mutual growth in our markets.”
The delegation’s visit provided a comprehensive view of India’s financial ecosystem, showcasing how regulation and technology catalyze market growth.
During the visit, the Nigerian delegation engaged with the NSE India to discuss retail participation and education, governance, strategic investment, and the adoption of innovative technologies to enhance market efficiency.
The team also visited Deutsche Bank India, one of the trading license holders of the NSE, where discussions focused on the operational dynamics of trading within India’s robust financial framework.
A visit to the National Payments Corporation of India (NPCI) offered insights into payment system infrastructure and their role in enhancing financial inclusion and investor accessibility.
Furthermore, the delegation met with the Securities and Exchange Board of India (SEBI) to discuss regulatory frameworks that promote market stability and innovation.
A strategic meeting with Tata Consultancy Services (TCS) explored leveraging technology for cost optimization, operational efficiency, and overall market development.
There was a ceremonial market closing at the NSE India which marked the highlight of the visit, with a bell-ringing ceremony that symbolized the commitment to forging stronger ties and fostering collaboration between the two markets.
