04 June 2018, Sweetcrude, Lagos – The partnership between the Nigerian Stock Exchange, NSE, and the London Stock Exchange, LSE, continued last week with the fifth edition of the NSE/LSE Dual Listing Conference, which held in Lagos.
Capital markets experts said the five-year old collaboration is driving engagement between the two markets to strengthen their partnership.
Specifically, they said, the partnership has created opportunity for the Nigerian capital market players to list in both markets.
This year’s conference, with the theme, “Attracting Global Capital to Drive Nigeria’s Economic Reforms and Sustainable Growth Development,” brought together companies keen to explore a London/Lagos dual listing, corporate finance experts, lawyers, capital market operators, regulators, government officials, media and thought leaders to discuss investment opportunities in Nigeria.
Speaking on the conference, the Chief Executive Officer, NSE, Mr. Oscar N. Onyema, said: “This event comes at a time when Nigeria has turned a corner from its worst recession in over two decades to have the best performing stock Exchange in Africa and third best performing globally.”
“The recent dual listing of the first-ever FGN Sovereign FX denominated $1 billion Eurobond on The Nigerian Stock Exchange and London Stock Exchange gives credence to the successful partnership between the two exchanges”, he added.
Nikhil Rathi, Chief Executive Officer, London Stock Exchange Plc, said: “The fifth NSE-London Stock Exchange Dual Listing Conference is a reflection of the strength of the partnership between our two exchanges and the global investment community’s strong desire to be a part of the Nigeria story.
He stated that the London Stock Exchange, as the world’s most international exchange, looked forward to building on the success of existing dual listings in Nigeria and London and partnering with the NSE to showcase the rapid developments in Nigerian capital markets and the Nigerian economy.
Present at the conference were Oscar Onyema, Chief Executive Officer, The Nigerian Stock Exchange; Babatunde Raji Fashola, Minister of Power, Works and Housing; Eme Essie Lore, Country Manager, International Financial Corporation; Afolabi Oladele, Director Portfolio Management Department, Debt Management Office (DMO); Gokul Mani, Head Primary Markets, London Stock Exchange; Elias Kagumya, Director, Risk Management, The African Export-Import Bank; and Mark Eddo, Communicator & Founder, Mark Eddo Media, among others.
Recall that the NSE and LSE signed a capital markets agreement in 2014 and renewed it in 2017, to support African companies seeking dual listings in London and Lagos. The agreement followed the implementation earlier in 2014 of a unique new cross-border settlement process between the UK and Nigeria.
