The Nigerian Exchange Group (NGX Group) has launched NGX Invest, a digital platform aimed at streamlining public offerings and rights issues in the capital market.
In a statement on Friday, NGX Group announced that the platform, approved by the Securities and Exchange Commission (SEC), is now operational. It promises an efficient and seamless experience for managing primary market transactions, marking a significant improvement for stakeholders in Nigeria’s capital market.
NGX Invest builds on the success of Nigeria’s first digital public offering in 2021, which attracted over 150,000 new retail investors—75% of whom were female and 85% under the age of 40. The new platform enhances transparency and accessibility in primary market transactions.
The launch of NGX Invest coincides with the Central Bank of Nigeria’s (CBN) Banking Recapitalisation directive, leading to numerous subscription offers and rights announcements by Nigerian banks. Both the CBN and SEC have provided strong regulatory support for this initiative. Investors can access the platform at [NGX Invest](https://invest.ngxgroup.com).
Access Holdings Plc, FCMB Group, and Fidelity Bank Plc are already using NGX Invest APIs to distribute their offerings to retail investors, with more banks in the process of onboarding. Emomotimi Agama, director-general of SEC, praised the initiative, stating that it aligns with the commission’s goal of modernizing the Nigerian capital market. By digitalizing and automating financial processes, the platform promotes efficiency, transparency, and inclusivity.
Umaru Kwairanga, group chairman of NGX Group, thanked the regulators for their support, emphasizing the mutual commitment to market development and the enhancement of retail investors’ participation in the capital market. He highlighted the importance of technology integration, strong partnerships, and collaboration in advancing Nigeria’s economic development.
Temi Popoola, group managing director of NGX Group, expressed excitement about the new platform, noting its role in the group’s digital transformation and its potential to boost market access and economic growth. He also acknowledged the support of SEC and CBN, as well as the contributions of intermediaries and partners, including the central securities clearing system (CSCS), in making the platform a success. This platform demonstrates NGX Group’s commitment to innovation and strengthening Nigeria’s capital markets, particularly in supporting the banking sector’s recapitalization efforts.
