NGX Group advocates stronger capital market integration into monetary policy framework
NGX Group Urges Central Bank to Focus on Capital Market Development
By Peter Egwuatu
The Group Managing Director and CEO of the Nigerian Exchange Group (NGX Group), Temi Popoola, has called on the Central Bank of Nigeria (CBN) to prioritize capital market development as a critical component of macroeconomic policy. During a recent workshop of the CBN’s Monetary Policy Committee (MPC), Popoola emphasized that the effectiveness of monetary policy is increasingly reliant on the depth, liquidity, and coherence of Nigeria’s financial markets.
Popoola’s remarks were delivered by Jumoke Olaniyan, the Group Chief Strategy Officer at NGX Group, who highlighted the intricate connection between monetary policy decisions and market structures. She noted that these decisions travel through the financial architecture before impacting households and businesses. According to Olaniyan, inadequate market structures can weaken the effectiveness of monetary policy, regardless of the MPC’s position.
The workshop, themed “Structure and Behaviour of Nigeria’s Equity and Government Debt Markets: Implications for Monetary Policy Effectiveness,” brought together key stakeholders to discuss the relationship between capital markets and monetary policy.
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