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Saturday, December 10, 2022

NGX to Roll Out NASDAQ Style Exchange for Nigerian Tech Firms

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The Nigerian Exchange Limited (NGX) says it will launch a NASDAQ Style stock exchange for the Nigerian market this year in a bid to encourage more technology listings.

The Nasdaq is a global electronic marketplace for buying and trading securities and where many of the world’s technology giants—including Apple and Google—are listed.

“We are likely to launch a NASAQ style board,” said Temi Popoola, CEO, Nigerian Exchange Limited, at a conference in Lagos.

The aim of the new marketplace would be in part to attract listings from Nigeria’s dynamic Fintech space, as well as capital from Nigerians in the diaspora, local investors, interact with the domestic technology ecosystem and get closer to young Nigerians, Popoola said.

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