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MTN Group CEO lauds NGX for democratising access to financial securities

MTN Group Chief Executive Officer (CEO), Ralph Mupita, has lauded the Nigerian Exchange Limited (NGX), for democratising access to financial securities, thereby empowering more Nigerians.

He said this when he paid a courtesy visit to the management of the Nigerian bourse, led by its CEO, Temi Popoola.

To mark the occasion, Mr. Mupita, was given the honour of sounding the closing gong to indicate market closure for the day.

Recall that last February, MTN and NGX announced the signing of a Memorandum of Understanding (MoU) to further promote financial literacy and enhance retail participation in the Nigerian capital market.

The announcement was made at a signing ceremony led by Mr. Popoola and the CEO, MTN Nigeria, Mr. Karl Toriola.

The MoU was a two-year partnership that would see NGX and MTNN collaborate to develop capital market solutions, leverage technology to support data dissemination and technology-as-a-service, promote capacity development and eliminate barriers to retail participation in the capital market.

Our collaboration with NGX gave us the opportunity to empower our customer base with the tools and knowledge to engage effectively with the capital market and meet their financial and investment objectives.

According to Mr. Mupita, within a year of signing the MoU, a lot has been achieved due to the hard work invested on both sides in forging and sustaining a productive partnership.

“At MTN, we believe we have a responsibility to ensure that our customers not only stay connected but can access increasing value and better services through our network, deepening their participation in the digital economy.

“Our collaboration with NGX gave us the opportunity to empower our customer base with the tools and knowledge to engage effectively with the capital market and meet their financial and investment objectives. For this, NGX deserves to be commended for democratising access to financial securities, and thereby empowering more Nigerians.”

On his part, MTNN CEO, Mr. Toriola said: “We will continue to identify other areas of cooperation with NGX and we look forward to a continuous mutually beneficial partnership that will contribute to the inclusive growth of the Nigerian economy.”

The courtesy visit coincides with the first anniversary of the completion of its landmark public offer in Nigeria, which was completed on January 31st 2022. 

]Widely applauded as the first public offer to be conducted via a digital platform in Nigeria, the offer expanded MTN Nigeria’s domestic shareholder base to include 126,720 retail investors alongside a range of institutional investors, including Nigerian pension funds representing approximately 6.5 million Nigerian contributors.

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