The Securities and Exchange Commission has given Nigerian Exchange Limited the approval to launch its Impact Board, a platform to enhance the listing and visibility of sustainability-focused instruments in the country’s targeted $1 trillion economy.
In a statement by NGX on Saturday, this initiative was announced during a Closing Gong Ceremony in Lagos.
According to the statement, the NGX Impact Board was designed to cater to green financial products, address climate change and promote sustainable economic practices.
NGX noted that the initiative was important as the government prepares for a proposed Green Bond issuance aimed at furthering environmental sustainability.
Commenting on the initiative, the Director-General of the SEC, Emomotimi Agama, emphasized the regulatory body’s support for innovations that advance sustainability and drive responsible investment practices in Nigeria’s capital market.
“The NGX Impact Board is expected to provide a dedicated platform for issuers of green bonds and other sustainability instruments, facilitating greater investor participation in environmentally friendly projects. This move is anticipated to attract both domestic and international investors who are increasingly prioritizing ESG factors in their investment decisions,” he said.
The Group Managing Director of NGX Group, Temi Popoola, stressed that the Impact Board will enhance transparency and accountability in sustainability investments, fostering trust and confidence among investors.
This comes weeks after the SEC also approved NGX, an Invest digital platform to boost public offerings and rights issues in the capital market.
Nigerian economy: SEC approves NGX impact board to enhance sustainability
