NGX Group advocates stronger capital market integration into monetary policy framework

May 29, 2026

By Peter Egwuatu

Group Managing Director/CEO, Nigerian Exchange Group (NGX Group), Temi Popoola, has urged the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to treat capital market development as a macroeconomic necessity, arguing that the effectiveness of monetary policy increasingly depends on the depth, liquidity, and coherence of Nigeria’s financial markets.

Popoola made this call in a presentation delivered during a session at the CBN Monetary Policy Committee, MPC workshop themed: “Structure and Behaviour of Nigeria’s Equity and Government Debt Markets: Implications for Monetary Policy Effectiveness.”

Represented by Jumoke Olaniyan, Group Chief Strategy Officer, NGX Group Popoola, noted that monetary policy decisions travel through market architecture before reaching households and businesses, and weak market structures can dilute policy effectiveness regardless of the stance adopted by the MPC.