The Nigerian Exchange Group (NGX Group) on Tuesday said that weak data governance and unreliable digital systems could make it harder for African businesses to attract investment and increase the risks investors attached to funding them.

The Group Managing Director, NGX, Mr Temi Poopola said this while delivering a keynote address on ‘Africa Capital Markets in a Data-driven Economy’ at the seventh CIO and C-Suite Conference and Awards Africa 2026 in Lagos.

Popoola, who was represented by Ms Jumoke Olaniyan, Group Chief Strategy Officer, NGX Group, said businesses with reliable data, strong controls and resilient systems were better positioned to earn investors’ confidence.

He described the financial disadvantage associated with weak information and governance as a trust discount.

According to him, investors can demand greater assurances or factor perceived risks into their funding decisions.

“Data strategy is also a business strategy, technology leaders and corporate boards should measure digital investments by their contributions to revenue, growth and access to capital, rather than treating them merely as operating costs,” he said.

Popoola said the consequences of unreliable systems extended beyond information technology failures, potentially delaying transactions, weakening liquidity and undermining investor confidence.

He cited NGX Invest as an example of how reliable digital infrastructure could widen access to capital markets.

According to the NGX Group, the platform has facilitated more than 23 primary-market transactions and supported over N3 trillion in capital raising since its launch in 2024.

He said that through application programming interface, more than 100 digital distribution channels, including banks, stockbrokers, fintech companies and a WhatsApp investment platform were connected.

According to him, NGX Invest is expanding the routes through which investors can participate in Nigeria’s capital market.

On data localisation, Popoola said keeping data within national borders did not automatically guarantee security.

He said that overly restrictive policies could increase costs, limit access to advanced services and complicate cross-border business.

He called for secure, interoperable digital systems that would enable African businesses to operate across markets while complying with different national regulations.

According to him, trusted identities, reliable data and regulatory cooperation are necessary to make regional capital markets more accessible to investors.

Also speaking, Dr Rakiya Yusuf, Director, Payment, System Supervision Department, Central Bank of Nigeria (CBN), said that effective data localisation could stimulate investment in local data centres, cloud services, telecommunications infrastructure and digital platforms.

Yusuf, who spoke on ‘Policy, Regulation and Data Sovereignty’ said that localisation could also improve regulators’ access to information for supervision, investigation and enforcement.

However, she identified infrastructure readiness as a major challenge, noting that successful implementation required reliable electricity, connectivity, data centres, cloud infrastructure and cybersecurity capabilities.

She said inadequate capacity could increase operational costs and reduce efficiency, particularly for financial institutions that depended on cross-border digital services and international technology partnerships.

Yusuf urged financial institutions to treat data localisation as a strategic and risk-management responsibility for their boards, rather than merely an information technology project.

She also called for comprehensive mapping of payment-data flows, stronger cybersecurity and data protection, tested recovery systems and continued engagement with the CBN on implementation challenges.

Meanwhile,Mrs Abiola Laseinde, Convener of the CIO and C-Suite Awards Africa said the conference was designed to move beyond recognising technology leaders to examining issues affecting businesses and ordinary Nigerians.

Laseinde said the awards began during the COVID-19 pandemic to recognise digital transformation leaders, whose work helped organisations navigate the disruption.

She said that organisers introduced policy discussions to help people understand how developments such as data localisation could affect their financial services and everyday digital interactions.

Laseinde said the long-term ambition was to take African technology leaders onto the global stage.

She said that the continent needed to tell its own stories and participate in shaping international technology policies and regulations.

It was reported that the conference had the theme, “Data Localisation: Policy, Prospects and Challenges.”

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The Nigerian stock market traded 446.99 million shares valued at N22.95 billion across 38,905 transactions on Wednesday.

This contrasted with the previous day’s 579.25 million shares worth N36.07 billion in 41,072 deals.

Consequently, market activity declined across volume, value and number of deals, with traded volume falling by 22.85 per cent.

Meanwhile, the market closed on a negative note as investors lost N110 billion at the close of the market.

This was due to profit-taking in 31 equities including: Thomas Wyatt Nigeria, Sovereign Trust Insurance, Livingtrust Mortgage Bank, Neimeth International Pharmaceutical and Veritas Kapital Assurance.

The market capitalisation which opened at N162.495 trillion closed at N162.385 trillion, shedding N110 billion.

Similarly, the All-Share Index dropped from 250,273.50 to 250,096.75, representing a decline of 0.07 per cent or 176.75 points.

The market’s Year-to-Date return fell to 60.72 per cent while the market breadth closed negative, recording 31 losers and 23 gainers.

Thomas Wyatt Nigeria led the losers’ chart by 9.74 per cent, closing at N2.41, Sovereign Trust Insurance trailed by 7.60 per cent, finishing at N2.31 and Livingtrust Mortgage Bank dipped by 7.25 per cent, settling at N3.20 per share.

Neimeth International Pharmaceutical fell by 4.61 per cent, ending the session at N7.25 while Veritas Kapital Assurance shed by 4.42 per cent, closing at N1.08 per share.

On the other hand, Tripple Gee led the gainers’ chart by 9.96 per cent, settling at N3.09, Critical Minerals Financing Corp followed by 9.86 per cent, closing at N4.01 while Champion Breweries climbed by 9.50 per cent, ending the session at N10.95 per share.

WAPIC increased by 9.24 per cent, finishing at N2.60 and Multi-Trex Integrated Foods grew by 8.33 per cent, closing at 39k per share.

Zenith Bank led trading by volume and value, with 34.90 million shares exchanged, representing 7.81 per cent of total volume and N4.74 billion, accounting for 20.69 per cent of total value.

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The Nigerian stock market extended its bullish run on Wednesday, gaining N374 billion to record its 10th consecutive positive session.

The sustained buying interest was driven by Eterna, Thomas Wyatt, Critical Minerals Financing Corp, Haldane McCall, Omatek Ventures and 38 other stocks.

The Nigerian Exchange Ltd. (NGX) market capitalisation rose to N163.056 trillion from N162.682 trillion recorded on Tuesday.

This represented a gain of N374 billion, equivalent to a 0.23 per cent increase in the market’s capitalisation.

Similarly, the All-Share Index (ASI) advanced by 576.36 points, representing a 0.23 per cent increase.

The ASI closed at 251,191.02, compared with 250,614.66 recorded at the previous trading session.

The market’s year-to-date return consequently improved to 61.42 per cent, reflecting sustained positive sentiment among investors.

Market breadth also closed positive, recording 43 gainers against 20 losers during the trading session.

Trading activity strengthened significantly, with total volume rising by 89.97 per cent to 1.59 billion shares.

The shares were traded in 49,836 deals, with the transactions valued at N45.82 billion during the session.

Fortis Global Insurance dominated trading by volume, with 860.31 million shares exchanged, representing 54.09 per cent of total market volume.

Guaranty Trust Holding recorded the highest transaction value, with deals worth N11.85 billion, accounting for 25.87 per cent of total value traded.

Eterna led the gainers’ table, appreciating by 10 per cent to close at N38.50 per share.

Thomas Wyatt followed, gaining 9.88 per cent to settle at N2.78, while Critical Minerals Financing Corp rose 9.76 per cent.

Critical Minerals Financing Corp closed at N2.70 per share, extending the positive performance among actively demanded equities.

Haldane McCall appreciated by 9.70 per cent, closing at N3.28, while Omatek Ventures gained 9.63 per cent.

Omatek Ventures ended the session at N1.48 per share, joining the leading stocks that supported the market’s upward movement.

On the losing side, Caverton Offshore Support Group led decliners, shedding 9.09 per cent to close at N4.00 per share.

University Press followed with a 9 per cent decline, finishing at N4.55, while WAPIC fell by 6.30 per cent.

WAPIC closed at N2.23 per share, while Veritas Kapital Assurance declined by 5.45 per cent to N1.04.

United Capital also lost 5 per cent, settling at N17.10 per share at the close of trading.

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The stock market closed on a positive note on Tuesday, as performance indices grew by 0.18 per cent due to increased buying activity.

Banking, financial services and consumer goods stocks drove the market higher.

Market capitalisation rose by N297 billion, or 0.18 per cent, to close at N162.682 trillion, compared with N162.385 trillion on Monday.

Similarly, the All-Share Index (ASI) increased by 457.86 points, or 0.18 per cent, to settle at 250,614.66.

The uptrend was driven by strong buying interest in medium and large-capitalised stocks such as Sovereign Trust Insurance, Critical Minerals Financing Corp, Neimeth International Pharmaceutical, Cadbury Nigeria, Fortis Global Insurance and 31 other stocks.

While the market’s year-to-date (YTD) return improved to 61.05 per cent, the market breadth closed positive with 36 gainers and 26 losers.

On the gainers’ chart, Sovereign Trust Insurance led by 9.95 per cent, finishing at N2.21.

Critical Minerals Financing Corp followed by 9.82 per cent, closing at N2.46, while Neimeth International Pharmaceutical rose by 8.90 per cent, settling at N7.95 per share.

Similarly, Cadbury Nigeria increased by 8.29 per cent, ending the session at N60.10 and Fortis Global Insurance advanced by 7.73 per cent, finishing at N1.95 per share.

On the flip side, Multiverse Mining led by 9.86 per cent, closing at N19.20, Haldane McCall trailed by 9.39 per cent, settling at N2.99 and Champion Breweries shed by 8.68 per cent, finishing at N10 per share.

Also, Mutual Benefits soared by 8.38 per cent, closing at N3.50, while AXA Mansard Insurance fell by 6.67 per cent, ending the session at N11.20 per share.

Trading activity strengthened during the session, as total volume rose by 45.82 per cent to 837.26 million shares, valued at N48.57 billion in 52,126 deals.

Fidelity Bank led trading volume with 165.43 million shares, representing 19.76 per cent of total volume, while Zenith Bank accounted for the highest value traded at N13.73 billion, representing 28.27 per cent of total value.

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The Nigerian equities market opened the week on Monday, sustaining its upward trend as investors recorded a gain of N228 billion.

Sustained interest in Sunu Assurances, Nascon Allied Industries, Omatek Ventures, Thomas Wyatt and Critical Minerals Financing Corp as well as 34 other advancing stocks boosted market performance.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation, which opened at N162.157 trillion, appreciated by N228 billion or 0.14 per cent to close at N162.385 trillion.

Similarly, the All-Share Index added 0.14 per cent or 352.24 points to close at 250,156.80, compared with 249,804.56 recorded on Friday.

This led to the market’s year-to-date (YTD) return rising to 60.76 per cent.

The market breadth also closed positive with 39 gainers and 26 losers.

Nascon Allied Industries, Sunu Assurances, Thomas Wyatt Nigeria, Critical Minerals Financing Corp and Omatek Ventures led the gainers’ chart by 10 per cent each, settling at N176, N3.08, N2.53, N2.24 and N1.32 per share respectively.

Conversely, Okomu Oil led the losers’ chart by 10 per cent, closing at N1,276.20, Custodian Investment followed by 9.13 per cent, finishing at N68.15 while Sovereign Trust Insurance dipped by 8.64 per cent, ending the session at N2.01 per share.

Also, Haldane McCall fell by 8.33 per cent, settling at N3.30 and Ellah Lakes dropped by 5.39 per cent, closing at N7.90 per share.

Trading activity strengthened during the session, as volume rose by 9.16 per cent to 574.19 million shares, valued at N38.06 billion in 68,655 transactions.

Zenith Bank led market activity by volume and value, with 77.07 million shares worth N9.90 billion traded, representing 13.42 per cent and 26.01 per cent of total volume and value, respectively.

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The Nigerian stock market extended its upward trend on Friday, gaining N2.265 trillion in its seventh consecutive bullish session.

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The Nigerian stock market extended its positive momentum on Wednesday, marking the fifth consecutive bullish session.

The market’s upward movement was driven by gains in equities like: Sovereign Trust Insurance, Champion Breweries, Livestock Feeds, Learn Africa, Mutual Benefits and 29 other stocks.

The market capitalisation increased by 0.20 per cent, adding N315 billion to investors’ portfolio as the market opened at N158.399 trillion and closed higher at N158.714 trillion.

Similarly, the All-Share Index (ASI) rose by 0.20 per cent, advancing by 487.28 points to close at 244,791.79, compared to 244,304 51 recorded on Teusday.

Consequently, the market’s Year-to-Date return improved to 57.31 per cent.

Also, the market breadth closed positive with 34 gainers against 26 losers.

On the gainers’ chart, Sovereign Trust Insurance led by 9.69 per cent, closing at N2.15, Champion Breweries followed by 9.50 per cent, finishing at N10.95 while Livestock Feeds increased by 9.42 per cent, ending the session N7.55 per share.

Similarly, Learn Africa gained by 9.09 per cent, settling at N8.40 and Mutual Benefits advanced by 8.93 per cent, closing at N3.05 per share.

Conversely, Industrial and Medical Gases led the losers’ chart by 9.93 per cent, settling at N27.65, John Holt trailed by 9.88 per cent, finishing at N7.30 while Livingtrust Mortgage Bank lost by 9.84 per cent, ending the session at N2.84 per share.

Also, Fidson Healthcare declined by 9.19 per cent, closing at N72.65 and Royal Exchange dipped by 9 per cent, finishing at 91k per share.

Market activity strengthened during the session, with total volume traded rising by 27.23 per cent to 662.43 million shares, valued at N37.45 billion in 63,271 deals.

Sterling Nigeria led trading volume with 142.04 million shares, accounting for 21.44 per cent of the total.

Guaranty Trust Holding Company recorded the highest value traded at N5.27 billion, representing 14.07 per cent of the day’s total.

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