Lagos
Nigerian Exchange Group (NGX Group) has appointed Ms Jumoke Olaniyan as its new Chief Strategy Officer, in what many see as a strong move to grow Nigeria’s stock market, bring in more investors, and modernise the system.
In simple terms, her job is to help the Exchange think ahead, plan better, and make the market work more smoothly for businesses and investors.
Nigeria’s capital market — where companies raise money and investors buy and sell shares — is going through big changes. There are new rules, more use of technology, and stronger competition from other investment options like treasury bills, fixed income products and even digital assets.
NGX wants to stay competitive and attractive, both to Nigerians and foreign investors. That’s where Olaniyan comes in.
She will be in charge of planning and executing strategies across the Group’s companies. This includes:
- Creating new financial products
- Bringing more investors into the market
- Improving trading activities
- Strengthening digital systems
- Ensuring the company grows steadily over time
Many Nigerians still remember when it was called The Nigerian Stock Exchange. In 2021, it changed its structure in a process known as “demutualisation.”
That change turned it from a member-owned organisation into a public company. It was then listed on the Exchange itself in March 2021.
Today, NGX Group operates through three major arms:
- Nigerian Exchange Limited – Handles buying and selling of shares and other investments
- NGX Regulation Limited – Oversees rules and compliance
- NGX Real Estate Limited – Manages property assets
This structure separates business operations from regulation, which is seen globally as best practice.
Even though the Nigerian stock market has recorded strong rallies in recent years, experts say there is still a major issue — liquidity.
Liquidity simply means how easy it is to buy and sell shares without causing prices to rise or fall sharply. In Nigeria, trading volumes are still lower than what is seen in many similar economies.
Many ordinary Nigerians are also not actively investing in the stock market. Most retail investors stay away due to lack of understanding, trust issues from past market crashes, or easier alternatives like fixed deposits.
NGX wants to change that.
The goal now is to:
- Make investing easier through technology
- Introduce more products beyond just shares
- Attract foreign investors back into the market
- Encourage more Nigerians to participate
Before joining NGX, Olaniyan worked at FMDQ Group Plc, a major player in Nigeria’s fixed income and currency markets.
She has over 20 years of experience in banking, financial markets and consulting. At FMDQ, she helped expand Nigeria’s bond and currency markets, making them more structured and globally competitive.
That experience is expected to help NGX expand beyond traditional stock trading into areas like derivatives and other advanced financial instruments.
She studied Accounting and also earned an MBA from INSEAD Business School, one of the world’s top business schools.
Her appointment also reflects a growing trend in Nigeria’s financial sector — more women are taking up top executive and board positions.
Industry observers say diverse leadership often improves decision-making and strengthens investor confidence.
Nigeria’s capital market has faced tough times in the past — currency instability, foreign investors pulling out, and economic uncertainty.
However, recent economic reforms, changes in interest rates, and improved corporate earnings have renewed investor interest.
For NGX, the task now is to maintain that momentum and modernise quickly.
Experts say success will depend on:
- Maintaining strong regulation and transparency
- Using technology to make investing simple
- Attracting both local and foreign investors
- Expanding the types of investment products available
Olaniyan’s appointment signals that NGX is not just looking for small improvements but planning a bigger, long-term transformation.
As Nigeria pushes to become a leading financial hub in Africa, the performance of its stock exchange will play a key role.
For investors and market watchers, all eyes will now be on how fast and how effectively this new strategy delivers results.