NGX Introduces Impact Board for Sustainable Instruments Listing

Nigerian Exchange Limited (NGX) has unveiled its Impact Board, a dedicated platform for listing sustainability instruments, following approval from the Securities and Exchange Commission (SEC).

This initiative was announced during a Closing Gong Ceremony in Lagos, honouring Mr. Balarabe Abbas Lawal, Minister of Environment, and commemorating the 8th Green Bond Advisory Group Meeting.

The ceremony, which saw Lawal, Co-Chair, Green Bond Advisory Group Meeting, engage with investors and stakeholders on the proposed federal government Green Bond issuance, brought together key figures in Nigeria’s financial and environmental sectors. Attendees included Dr. Emomotimi Agama, Director-General of the SEC, alongside delegates from the Debt Management Office, Ministry of Environment, issuers, and issuing houses.

This launch marks a pivotal moment in NGX’s steadfast commitment to integrating sustainability into the core of Nigeria’s capital market. By providing a high-visibility platform for sustainability instruments, NGX aims to usher in a new era of responsible investing, offering forward-thinking issuers access to purpose-driven capital.

Addressing the pressing environmental challenges facing the country, 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, Nigerian Exchange Group (NGX Group) highlighted NGX’s capabilities, stating, “We possess 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, stated, “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.”