August 3, 2021

Vice President Yemi Osinbajo has commended the completion of the demutualization of the stock exchange, noting that “it is a welcome development and fantastic that the process is now complete.”

In a statement by Laolu Akande,
Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, he said Osinbajo disclosed this on Monday when he received, on a courtesy visit to the Presidential Villa, the management of the Nigerian Exchange Limited led by its Chief Executive Officer, Mr Temi Popoola.

The delegation made a presentation on the post-demutualization activities of the Nigerian Exchange Group to the VP, who urged the management of the company to explore areas of growing the stock market by venturing into emerging frontiers.

He assured the management of government’s support by way of policy to enable the company and the stock market reach greater heights.

Earlier in his presentation, the CEO of the Nigerian Exchange Ltd, Mr Popoola said the organisation has been repositioned for profit and to align to the tastes and preferences of the market.

He said under the new arrangement, the market will be opened up for more companies to be listed, resulting in more revenues for government as listed companies pay more taxes and are more responsible to the environment they operate in.

He appealed to the Federal Government to support the rejuvenation of the stock exchange, assuring of better times ahead both for the public and corporate.