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Nigeria, UK Poised To Increase Investment Capital Flows

Nigeria and the United Kingdom are pushing ahead with efforts aimed at leveraging existing strong commercial and economic ties for mutual benefit through the Emerging Capital Market Taskforce project.
The President of the Nigerian Stock Exchange and Co-Chairman of the UK-Nigeria capital market’s project, Mr. Aigboje Aig-Imoukhede, on Tuesday led a Nigerian delegation to meet with his UK Co-Chair, Sir Roger Gifford, former Lord Mayor of London, officials of the UK foreign and Common Wealth Office, officials of the CitiUK and other key players in the UK financial services sector.
The meeting, according to a statement, was aimed at continuing discussions on the implementation of the Emerging Capital Markets Taskforce’s work programme. The meeting took place at the Foreign and Commonwealth Office in London.
The UK-Nigeria capital markets project is a programme of cooperation and engagement between the UK and Nigeria, aimed at increasing capital flows between the UK and Nigeria and deepening the Nigerian capital market.
The taskforce’s main objective is to improve market access to financial instruments and resources in the Nigerian capital market as well as to strengthen investor protection through effective regulation and oversight, according to the statement.
It said the work of the taskforce in Nigeria would include knowledge-sharing, capacity-building, dual listings on NSE and London Stock Exchange, product innovation and the design of bilateral investor protection treaties.
Speaking on the visit, Aig-Imoukhuede stated, “This initiative, if well implemented, will see Nigerian’s economy benefiting from a more developed and successful capital markets sector and lead to significant flows of investment capital to the mutual benefit of Nigeria and the United Kingdom.”

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