NGX Regulation Limited (NGX RegCo) and the Economic and Financial Crimes Commission (EFCC) have agreed to enhance their collaboration to address market surveillance and financial crimes in Nigeria’s digitalized capital market. The commitment was made during a high-level meeting in Abuja between NGX RegCo’s CEO, Olufemi Shobanjo, and EFCC’s Executive Chairman, Ola Olukoyede.
Shobanjo highlighted that the digital transformation of the market requires a stronger partnership, noting that their previous 2013 MoU needs updating to address the market’s growth and new challenges. He stressed the importance of EFCC’s enforcement role in combating market abuse and protecting investors, which would bolster overall market integrity.
EFCC’s Olukoyede expressed support for the initiative, underscoring the importance of regulatory compliance and market integrity. He assured that the EFCC is committed to working closely with NGX RegCo, including reviewing and strengthening the MoU to better address capital market abuses and ensure compliance with relevant laws.
Source: THE SUN