Nigerian Exchange Limited and MTN Nigeria Communications Plc have signed a Memorandum of Understanding to promote financial literacy and enhance retail participation in the Nigerian capital market.

A statement said the announcement was made at the signing ceremony led by the Chief Executive Officer, NGX, Mr Temi Popoola and the Chief Executive Officer, MTNN, Mr Karl Toriola.

According to the statement, the MoU is a two-year partnership for NGX and MTNN to collaborate to develop capital market solutions, leverage technology to support data dissemination and technology-as-a-service, promote capacity development, and eliminate barriers to retail participation in the capital market.

Speaking about the MoU, Popoola said, “In building on our rich heritage as the first and foremost multi-asset securities exchange in Nigeria, we are resolute in our commitment to democratise finance in Nigeria by leveraging current advancements in technology and relying on strategic partnerships.

Toriola said, “AT MTNN, we believe we have a responsibility to ensure that our customers not only stay connected but can access increasing value and better services through our network, deepening their participation in the digital economy.”