The NASD OTC Securities exchange as part of its vision of becoming the choice hub for capital formation in West Africa, today launched its enterprise portal in Lagos.
Geared towards galvanising entrepreneurial development in Nigeria, the event brought together stakeholders from the policy, economy, business, financial and capital market space.
In his opening remarks the Chairma of the NASD OTC Mr Olutola Mobolurin said the enterprise portal is expected to “transform the investment environment in Nigeria”.
He noted that the initiative was coming at the time the Federal Government is energizing its Economic Recovery & Growth Plan.
Mr Mobolurin shared that NASDEP is focused on addressing three issues namely; i)the information gap on investment activities going on in the economy, ii)the documentation problem that companies face in reporting their performance to a relevant audience that can provide the much needed capital and iii) capturing a more accurate picture of the size, scope & direction of significant primary private capital market activity.
CEO of NASD Mr Bola Ajomale in his address stated that it took three years for the evolution and realization of the enterprise portal.
Ajomale said NASDEP was designed to develop a community of genuine entrepreneurs, who can access long-term cash and expand their business frontiers.
He stressed that the platform was creating a channel for key deals, where private equity & venture capitalists can finance enterprise development. Ajomale speaking further stated that the portal was premised on the values of transparency.
Chairman House Committee on Capital Markets Hon Tajudeen Yusuf in his remarks commended NASD OTC for providing a platform for the growth of SMEs in the Nigerian economy.
According to Hon Yusuf “ No economy grows without providing opportunities for enterprises, and the 8th National Assembly is committed to taking the Nigerian capital market, to the global competitive stage”.
The representative of the Acting Director-General of the Securities and Exchange Commission Prof Ahmadu Sanda assured stakeholders that the apex market regulator, will continue to support initiatives that are targeted at market development.
The Minister of Industries, Trade and Investments Dr Okechukwu Enelamah described NASDEP as apt and timely, which will deepen the financial and capital markets, providing liquidity.
Dr. Enelamah asserted that across the globe there was a strong correlation between a deep capital market and economic growth.
He said the Federal Government was partnering with private capital to drive the ERGP plan, and believed the enterprise portal will complement its plans.
Enelamah tasked NASDEP to build its platform on trust which is vital to instilling market confidence.
The portal can be accessed through the website www.nasdep.com