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Nigerian Exchange Limited (NGX) has introduced its Impact Board, a dedicated platform for listing sustainability-focused financial instruments, following approval from the Securities and Exchange Commission (SEC).
This initiative was announced during a Closing Gong Ceremony in Lagos, honoring Mr. Balarabe Abbas Lawal, the Minister of Environment, and marking the 8th Green Bond Advisory Group Meeting.
The event featured Mr. Lawal, Co-Chair of the Green Bond Advisory Group Meeting, engaging with investors and stakeholders about the federal government’s proposed Green Bond issuance. Key figures in Nigeria’s financial and environmental sectors attended, including Dr. Emomotimi Agama, Director-General of the SEC, and representatives from the Debt Management Office, Ministry of Environment, issuers, and issuing houses.
This launch underscores NGX’s commitment to integrating sustainability into Nigeria’s capital market. By offering a high-visibility platform for sustainability instruments, NGX aims to promote responsible investing and provide issuers with access to purpose-driven capital.
Addressing the country’s urgent environmental challenges, Lawal said, “With issues like flooding, pollution, and deforestation, we urgently need funds to tackle them. This is why we are approaching the market.”
Alhaji (Dr.) Umaru Kwairanga, Group Chairman of Nigerian Exchange Group (NGX Group), highlighted NGX’s capabilities, stating, “We have the capacity, resources, and technology to raise the funds required by the Federal Ministry of Environment and the Nigerian economy to achieve the goals outlined in the Paris Agreement and the Sustainable Development Goals.”
Further emphasizing the Group’s commitment, Mr. Temi Popoola, Group Managing Director and CEO of NGX Group, added, “We are dedicated to driving sustainability with the right frameworks, which is why giving visibility to this class of instruments is crucial for achieving our goals.”
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