adsOmoniyi Ajayi, chairman and group managing director of Nigeria’s first indigenous stockbroking company, Financial Trust Company (FTC), speaks on the Nigerian stock market, reforms required to deepen market participation, enduring importance of trust and integrity in financial services, and FTC’s Pan-African ambitions, writes Iheanyi Nwachukwu. Excerpts
How do you assess the performance of the stock market in the current economic climate?
The Nigerian stock market has shown remarkable resilience despite foreign exchange (FX) volatility, inflationary pressures, and tight monetary policy. The market continues to post positive momentum, reflecting both the strength of listed companies and growing recognition that Nigerian equities offer long-term value.
The market has matured considerably. Infrastructure is stronger, settlement systems are reliable, and regulatory oversight has improved. The transition to T+1 settlement and ongoing digitalisation efforts have enhanced efficiency. However, liquidity remains a challenge, especially among mid- and small-cap stocks, underscoring the need for broader retail and institutional participation.
What is driving investor confidence?
