NGX Regulation Limited, the independent regulation subsidiary of the Nigerian Exchange Group, has partnered with the Economic and Financial Crimes Commission to strengthen market surveillance and combat financial crimes in Nigeria’s evolving capital market.

This was disclosed in a meeting between NGX RegCo’s Chief Executive Officer, Olufemi Shobanjo, and EFCC’s Executive Chairman, Ola Olukoyede, at the Commission’s Abuja headquarters on Tuesday.

Speaking at the meeting, Shobanjo underscored the need to adapt regulatory frameworks to address sophisticated financial crimes emerging in the digital era.

“The digitalisation of our markets has brought new challenges, necessitating a more robust collaborative approach,” he said.

While our 2013 MoU established initial cooperation parameters, the substantial market growth in 2024 demands an enhanced partnership framework. As a frontline regulator, we recognise the EFCC’s crucial role in providing enforcement support and specialised expertise to combat market abuse and protect investor interests.”

He added that NGX RegCo remained committed to maintaining market integrity and investor confidence, emphasising that “reinforced collaboration with the EFCC will strengthen investor protection mechanisms.”

https://punchng.com/ngx-regco-efcc-agree-to-curb-capital-market-infractions/