The Chairman of the Nigerian Exchange (NGX) Group Plc, Mr Umaru Kwairanga, has urged the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC) and other policymakers to harmonise policy frameworks in 2026.
Mr Kwairanga said clear and consistent policies on taxation, foreign exchange and cross-border capital repatriation would reduce uncertainty and boost investor confidence.
“Policy harmonisation is critical to reducing volatility and attracting sustained foreign investment,” he said while speaking with the News Agency of Nigeria (NAN) on Monday.
The NGX Chairman also called for enhanced regulatory clarity on key market levers, including capital gains tax, clearing and settlement efficiency, and disclosure standards.
“Clear rules and efficient processes will strengthen market integrity and operational confidence,” he said.
Mr Kwairanga urged regulators to promote product innovation within the capital market.
“The development of derivatives, exchange-traded products and securitised instruments will expand the investor base and improve risk management,” he said.
Mr Kwairanga advised market operators on the need for continuous investor education, saying this will broaden participation, deepen liquidity and build long-term confidence.
He disclosed operators must also invest in technology and infrastructure to improve market access, stressing that market integrity must remain paramount.
“Efficient trading platforms, settlement systems and cross-border connectivity are essential for competitiveness.
“High standards of transparency and enforcement underpin investor trust, both domestic and international,” he said.
Mr Kwairanga also advised investors and issuers to adopt long-term investment strategies as diversified, long-horizon portfolios support market depth and capital stability.
He encouraged market participants to leverage digital tools to reduce costs and enhance transparency.
Mr Kwairanga noted that strong environmental, social and governance practices were vital for attracting global capital.
“ESG and sound governance are critical for sustainable valuations,” he said.
Mr Kwairanga said the Nigerian capital market recorded a commendable performance in 2025 as he attributed the gains to reforms, stronger corporate actions and resilient market participation.
He expressed confidence that the foundations laid would position the market for greater opportunities in 2026 and beyond.
“Collaboration among investors, regulators and operators remains central to building a deeper and globally attractive capital market,” he said.