Other initiatives by the NGX

Beyond the proposition of dollar-denominated listings and foreign-currency bond issuances, Nigerian Exchange Ltd. is collaborating with the local Securities and Exchange Commission to revise regulations that would enable selected companies to distribute dividends in dollars.

Popoola remarked, “Given the proactive stance of the current administration, it is reasonable to anticipate that these objectives can be achieved.”

The move is expected to tap into substantial reserves of dollars held by both retail and institutional investors, thereby fostering a more conducive environment for local listings.

Popoola however warned thus, “If the target companies cannot access dollars within our market, many of them may opt to list abroad,” #fx #crypto2023