Umaru Kwairanga, chairman of the Nigerian Exchange Group, has urged stronger collaboration between Nigerian Exchange Ltd and the Stock Exchange of Hong Kong.

Mr Kwairanga made this call during a high-level board interaction between both exchanges held in Hong Kong on Tuesday.

In a statement, the NGX chairman said the partnership would bolster market development, enhance expertise sharing, and align operations with global best practices.

He praised the Hong Kong stock market for its resilience, innovation, and continued relevance, calling the city a model of economic excellence.

“Hong Kong has always been a marvel and an inspiration to the world. Its people have consistently aspired higher than its skyline, achieving success despite shifting global conditions,” he added.

He lauded the exchange’s century-long history, wide range of listed securities, and its strategic position as a financial gateway between China and global markets.

Mr Kwairanga noted that NGX, established over 60 years ago, had recently undergone significant transformation. He highlighted NGX’s evolution from a mutual entity to a for-profit public company over the past three years.

He acknowledged that the reforms, while promising, also introduced challenges around governance, regulation, technology, and market growth.

“The Hong Kong Exchange has faced similar hurdles. We are here to learn and explore collaboration that drives mutual advancement,” he said.

The NGX chairman restated the growing necessity of partnerships in today’s connected financial environment.

He noted that collaboration was vital for exchanges seeking to remain competitive and globally relevant.

“In this fast-changing, borderless world, such engagements will shape the future of exchanges like ours,” Mr Kwairanga stated.

He expressed interest in multiple areas for cooperation between NGX and the Hong Kong Exchange.

Mr Kwairanga voiced confidence that the visit would launch a lasting relationship with shared gains and long-term value.

He added that the dialogue aligns with NGX’s broader strategy to foster global ties and spur innovation in Nigeria’s capital market. 

(NAN)