Dr. Umaru Kwairanga, Group Chairman, Nigerian Exchange Group (NGX) recently led an NGX delegation to the Nigeria T+1 Roundtable in London to engage officials of Russell FTSE, global investors and major market leaders on Nigeria’s capital market reclassification and its attractiveness for Foreign Direct Investment (FDI).
At the meeting, the NGX wanted to know the reasons for FTSE’s hesitation in reclassification of the Nigerian capital market and how to address emerging issues in that regard.
The delegation insisted that T+1 was agreed after consultation between regulators, operators, market infrastructure providers and other stakeholders and has operated very well since it came into effect last month.
Furthermore, the reclassification also received the approval of the capital market regulator, Securities & Exchange Commission (SEC).
Kwairanga said the NGX team were ready to address the concerns of its international stakeholders within the T+1 framework.
“We made some proposals by aligning with the T+1, awaiting their outcomes. The trust, openness and participation of Big Institutional Investors and Custodians at the meeting made it a successful trip.”
In a recent post, Dr. Khalid Yusuf Ahmed extolled the leadership qualities of Kwairanga in respect of the reclassification process.
“True leadership is not defined by titles: It is defined by the ability to shape the future of institutions, markets, and nations. I was deeply inspired to learn that Umaru Kwairanga, the Chairman of the Nigerian Exchange Group (NGX), who has also been a father and my mentor in the field of finance and financial management, recently led the NGX delegation to the Nigeria T+1 Roundtable in London.
The engagement brought together representatives of Russell FTSE, international investors, and key market stakeholders to discuss issues surrounding Nigeria’s capital market classification and the country’s continued attractiveness as an investment destination. Behind engagements like these lies something far greater than a series of meetings.
They represent strategic efforts to strengthen investor confidence, enhance market credibility, improve capital flows, and reinforce Nigeria’s position within the global financial ecosystem. In today’s interconnected world, capital markets thrive on confidence, transparency, sound governance, and continuous engagement with global investors.
Strengthening these relationships is essential not only for market development but also for unlocking economic opportunities that drive business growth, job creation, innovation, and national prosperity. Watching this level of leadership reinforces an important lesson for me: strategic finance is not simply about financial statements or investment decisions.
It is about shaping institutions, influencing policy, building trust, and creating an environment where economies can flourish sustainably.
As Chairman of the NGX, his leadership continues to exemplify these principles. His vision extends beyond strengthening Nigeria’s capital market to contributing meaningfully to regional and global economic development through collaboration, institutional excellence, and long-term strategic thinking.
For many of us in the next generation of finance professionals, these moments are more than milestones; they are examples of the standard of leadership we aspire to emulate. They remind us that our profession carries a responsibility not only to create financial value but also to build stronger institutions, expand opportunities, and contribute to sustainable economic progress. I remain grateful for his mentorship and for the example he continues to set through service, humility, integrity, and excellence.
Equally commendable is the dedication of the entire NGX team, whose collective efforts continue to advance Nigeria’s capital market and strengthen its standing on the international stage.
To my mentor, thank you for demonstrating that true leadership is measured by the opportunities we create for others, the institutions we strengthen, and the legacy we leave behind.
Your commitment to Nigeria’s economic future and to the advancement of Africa’s capital markets continues to inspire many of us who are privileged to follow the path you and your team are helping to pave.”
