NGX CEO Temi Popoola Discusses Capital Growth in Singapore

Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group Plc (NGX Group), addressed the Nigeria–Asia Financial Connectivity Dialogue in Singapore on October 8 and 9, 2026. He highlighted the increasing scale of capital formation in Nigeria and Africa, noting that Nigeria is experiencing its strongest capital formation in years.

Popoola pointed out that banks have raised approximately N4.65 trillion under a recapitalisation programme, and the Dangote Petroleum Refinery Initial Public Offering (IPO) aims to raise N2.15 trillion. He mentioned the transition to a T+1 settlement cycle in June 2026 and Nigeria's reclassification to Frontier Market status by FTSE Russell in September as significant developments that enhance market efficiency and attract international investors.

CBN Governor Olayemi Cardoso emphasized the need for investor confidence to sustain long-term capital flows. Popoola also participated in discussions with representatives from the Central Bank of Nigeria, FMDQ Group, and J.P.

Morgan to explore collaboration opportunities with the Singapore Exchange Group.