The Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has commended the Association of Issuing Houses of Nigeria (AIHN) for its three decades of contribution to Nigeria’s capital market and economic development.
Kwairanga said issuing houses had played a critical role in mobilising substantial funds for the Federal Government, state governments, other sub-national entities and corporate organisations over the past 30 years.
He made this remarks in Lagos on Wednesday while delivering a goodwill message at the 30th Anniversary Awards Night and Dinner of the Association of Issuing Houses of Nigeria.
According to him, members of the association have been instrumental in major capital-raising exercises, including the recapitalisation of banks and insurance companies, while also helping governments finance their governance and development objectives.
“Those years have also witnessed the mobilisation of the greatest amount of funds in this nation’s history for the Federal Government, sub-nationals and corporate bodies,” he said.
Kwairanga noted that issuing houses continued to raise funds that enabled businesses to remain operational, expand their activities and contribute to broader economic growth.
He said their impact on the development and deepening of Nigeria’s capital market could not be underestimated, given their role in connecting businesses and governments with long-term sources of finance.
The NGX Group chairman also reaffirmed the Exchange’s commitment to working closely with the Association of Issuing Houses of Nigeria to strengthen the capital market.
“At the Nigerian Exchange Group, we recognise the important role that the Association of Issuing Houses of Nigeria plays in the capital market and its positive impact on our Exchange, and we are always open to partnering with you in the development of the capital market,” he said.
Kwairanga described the anniversary celebration as an opportunity not only to reflect on the association’s achievements but also to recognise individuals and organisations that had made outstanding contributions to the association and the wider financial sector.
He congratulated the award recipients, urging them to build on their achievements and contribute even more to the growth of Nigeria’s capital market in the years ahead.
He said the continued collaboration among market operators and other stakeholders remained important to expanding access to capital, strengthening businesses and supporting Nigeria’s economic development.
Kwairanga concluded by congratulating the Association of Issuing Houses of Nigeria on its 30th anniversary and wishing it continued success in the years ahead.