NGX Group advocates stronger capital market integration into monetary policy framework

By Peter Egwuatu

Temi Popoola, the Group Managing Director/CEO of the Nigerian Exchange Group (NGX Group), has called on the Central Bank of Nigeria’s (CBN) Monetary Policy Committee (MPC) to prioritize the advancement of the capital market as a vital macroeconomic factor. He contended that the efficiency of monetary policy increasingly rests on the depth, liquidity, and integrity of Nigeria’s financial markets.

Popoola conveyed this message during a presentation at a CBN Monetary Policy Committee, MPC workshop titled: “Structure and Behaviour of Nigeria’s Equity and Government Debt Markets: Implications for Monetary Policy Effectiveness.”

During this session, he was represented by Jumoke Olaniyan, the Group Chief Strategy Officer of NGX Group. Popoola emphasized that decisions made regarding monetary policy navigate through the market structure before affecting households and businesses, and insufficient market frameworks may undermine the effectiveness of policies, irrespective of the approach taken by the MPC.