NGX Regulation Limited (NGX RegCo), a subsidiary of Nigerian Exchange Group, and the Economic and Financial Crimes Commission (EFCC) have called for enhanced partnership to enhance market surveillance and combat financial crimes in the capital market. This is aimed to strengthen investor protection mechanisms.
In a recent meeting between NGX RegCo’s Chief Executive Officer, Olufemi Shobanjo, and EFCC’s Executive Chairman, Ola Olukoyede, NGX Regulation boss highlighted the critical need to adapt regulatory frameworks to address sophisticated digital financial crimes emerging in today’s evolving market landscape.
Shobanjo stated thus:
“The digitalisation of our markets has brought new challenges, necessitating a more robust collaborative approach. While our 2013 MoU established initial cooperation parameters, the substantial market growth in 2024 demands an enhanced partnership framework.
“As a frontline regulator, we recognize the EFCC’s crucial role in providing enforcement support and specialized expertise to combat market abuse and protect investor interests.”