*A paradigm shift on how to approach finance and development – Jude Chiemeka
WorldStage Newsonline– The Nigerian Exchange Ltd. (NGX) has unveiled its Impact Board for listing sustainability instruments, following approval from the Securities and Exchange Commission (SEC).
The initiative was launched alongside a Closing Gong Ceremony in honour of Mr Balarabe Lawal, Minister of Environment, and in commemoration of the 8th Green Bond Advisory Group Meeting.
The initiative was launched alongside a Closing Gong Ceremony in honour of Mr Balarabe Lawal, Minister of Environment and in commemoration of the 8th Green Bond Advisory Group Meeting.
In an address, Lawal, also Co-Chair of the Green Bond Advisory Group, said that with issues like flooding, pollution and deforestation urgently need funds to be addressed, hence the approach to the capital market.
He emphasised that the environmental challenges confronting the country, particularly in the northern regions, demand significant financial resources.
“We have many issues that we need funding for, such as floods, erosion, pollution, and more.
“This is why we are here, to make the issuance of the green bond an annual event,” he said.
Lawal said that there was a need for collaboration between the financial sector and public institutions to support environmental projects.
According to him, a clean environment is the bedrock to public health.
On his part, the Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, lauded the unveiling of the NGX Impact Board, while reassuring the group of the support of the commission.
Agama stated the commission was ready to bolster the sustainable finance market, and also deepen it with diverse instruments that contributes to Nigeria’s sustainable development.
He said: “We will continue to support the NGX in their relentless efforts at deepening the capital market.
In his remark, Alhaji Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX Group), stated that the Exchange possesses the capacity, resources, and technology to raise the funds required by the Federal Ministry of Environment.
Kwairanga added that the NGX was also capable of raising fund for the Nigerian economy to achieve the goals outlined in the Paris Agreement and the Sustainable Development Goals.
Mr Ahonsi Unuigbe, Chairman of NGX, underscored the significance of the Impact Board, noting its potential to encourage issuers like the Federal Government to leverage the market for financing strategic, sustainability-focused projects.
Further emphasising the Group’s commitment, Mr Temi Popoola, Group Managing Director/ CEO of NGX Group, said that the Exchange remained dedicated to driving sustainability with the right frameworks.
Popoola said that was why giving visibility to this class of instruments was crucial to achieving its goals.
Mr Jude Chiemeka, CEO of NGX, described the launch as more than just a new platform, but a paradigm shift on how to approach finance and development.
As Nigeria steps into a new chapter of sustainable finance, the Impact Board stands to attract both domestic and international investment, driving growth and supporting the nation’s sustainable development agenda.
The innovative platform not only represents NGX’s vision for the future, but also sets a new standard for responsible investing in Africa’s largest economy, and potentially serves as a model for other emerging market.
