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Capital market in Nigeria: free zones soon to be listed

21/02/2023
Source : ORISHAS FINANCE
Categories: Index/Markets

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Professor Adesoji Adesugba, Nigerian Free Export Zones Authority (NEPZA) announced that plans are underway to allow the easy listing of the country's free zones and their businesses on the Nigerian capital market.

During a business meeting with the Chief Executive of the Securities and Exchange Commission (SEC), Alhaji Lamido Yuguda Adesugba a declared that development will allow, among other things, a greater redistribution of wealth and prosperity in the country. According to the professor, NEPZA was a partner of the Nigeria Economic Zones Association (NEZA), the capital market regulator, SEC, as well as the Lagos Free Zone (LFZ). According to him, the prosperity and wealth of the free trade zone would effectively be extended to the investing public through the stock market.

Also, the law establishing NEPZA gave it substantial latitude to make changes that guaranteed dimensional links between the free zone and the Nigerian public for mutual benefits. According to the NEPZA spokesperson, Dr. Martins Odeh, “the best structure and governance framework to pilot this innovation are also being developed. This initiative is a sign of greater things that the Authority and the Commission can do together to position the country's business environment and the stock market for global competitiveness.”

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