NGX Group’s e-offering platform goes live

The Nigerian Exchange Group (NGX Group) has unveiled NGX Invest, a digital platform designed to streamline Public Offerings and Rights Issues in the capital market.

This followed the approval of the platform by the Securities and Exchange Commission (SEC).

The NGX Invest is for primary market transactions in the country, representing a significant leap forward in improving stakeholder experience within Nigeria’s capital market.

Building on the country’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 – NGX Invest 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 which has prompted numerous offers for subscription and rights announcements by banks.

Both the CBN and SEC have provided regulatory support for the initiative.

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Investors can now access the platform at https://invest.ngxgroup.com.

It was gathered that Access Holdings Plc, FCMB Group, and Fidelity Bank Plc are already utilizing the NGX Invest APIs to distribute their offerings to retail investors.

Speaking on the initiative, the SEC Director-General, Dr. Emomotimi Agama, said: “The e-Offering Platform aligns perfectly with our objective of future-proofing the Nigerian capital market. By digitalising and automating financial intermediation processes, we are fostering a more efficient, transparent, and inclusive capital market”.

The Group Chairman of NGX Group, Alhaji Umaru Kwairanga, commended the regulators for their support.

He said: “The supportive regulatory environment has provided a solid foundation that enabled the swift delivery of the platform. This reflects our mutual commitment to market development and will undoubtedly contribute to boosting the participation of retail investors in the capital market.

“As we strive for the market to play a larger role in Nigeria’s economic development, the integration of technology, strong partnerships, and collaboration, alongside a positive policy environment, will be essential.”

By: Babajide Okeowo

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