NGX Regulation Limited (NGX RegCo), the independent regulation subsidiary of the Nigerian Exchange Group, and the Economic and Financial Crimes Commission (EFCC) have called for enhanced partnership to enhance market surveillance and to combat financial crimes in Nigeria’s increasingly digitized capital market.

This was discussed during a high-level meeting between NGX RegCo’s Chief Executive Officer, Olufemi Shobanjo, and EFCC’s Executive Chairman, Ola Olukoyede, at the commission’s Abuja headquarters.

During the meeting, Shobanjo highlighted the critical need to adapt regulatory frameworks to address sophisticated digital financial crimes emerging in today’s evolving market landscape.

“The digitalization of our markets has brought new challenges, necessitating a more robust collaborative approach.

“While our 2013 MoU established initial cooperation parameters, the substantial market growth in 2024 demands an enhanced partnership framework.

“As a frontline regulator, we recognize the EFCC’s crucial role in providing enforcement support and specialized expertise to combat market abuse and protect investor interests,” he stated.

Shobanjo emphasized NGX RegCo’s dedication to maintaining market integrity and expressed confidence that reinforced collaboration with the EFCC would strengthen investor protection mechanisms.

Responding, Olukoyede commended the desire to strengthen the existing relationship between the two agencies and assured that the commission was ready and willing to collaborate.