NGX chair seeks capital market, insurance partnership to drive growth

The chairman of Nigerian Exchange Group, Dr Umaru Kwairanga, has called for stronger collaboration between the capital market and insurance industry to mobilise long-term capital, deepen financial inclusion and accelerate sustainable economic growth.

Kwairanga made the call on Friday at the investiture of Mr Akinjide Orimolade as the 53rd President of the Chartered Insurance Institute of Nigeria (CIIN).

He said closer cooperation between both sectors had become important as Nigeria seeks to achieve inclusive and sustainable economic development.

According to him, the insurance industry and the capital market share a common purpose of mobilising long-term capital, managing risk, deepening financial inclusion and creating the confidence required for businesses to invest and economies to grow.

“As Nigeria pursues sustainable economic development, stronger collaboration across our financial ecosystem has become more important than ever,” he said.

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Kwairanga urged stakeholders to build resilient institutions, promote innovation, embrace technology and develop products and services that respond to the changing needs of individuals, businesses and investors.

He said stronger institutional partnerships would promote knowledge sharing, drive innovation and produce practical solutions capable of strengthening Nigeria’s economic resilience and national prosperity.

The NGX chairman reaffirmed the commitment of Nigerian Exchange Group to initiatives aimed at deepening the capital market, improving access to finance and strengthening investor confidence.

He also congratulated Orimolade on his election, describing it as recognition of his dedication, professional excellence and the confidence reposed in him by insurance practitioners.

Kwairanga said leadership transitions provided institutions with opportunities to review past achievements while renewing their commitment to future growth and organisational development.

He praised the Chartered Insurance Institute of Nigeria for its consistent promotion of professionalism, ethical standards, capacity building and public confidence in the insurance industry.

According to him, the institute’s contributions over the years have strengthened one of the country’s key pillars of the financial system.

Kwairanga expressed confidence that Orimolade would strengthen professional standards, develop future insurance leaders and expand the industry’s contribution to Nigeria’s economic transformation.

He also commended members of the institute for their commitment to professional excellence, saying their efforts remained critical to strengthening public trust and protecting the interests of millions of Nigerians.

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