…Targets September 2026 launch
By Seun Ibiyemi
Nigeria’s Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) for the establishment of Contisx Securities Exchange Plc, a new full-service securities exchange expected to commence operations in September 2026.
The development was disclosed by the founder of Contisx, Ndubuisi Ekekwe, in a statement shared via his verified X handle on Monday.
According to Ekekwe, the proposed exchange is designed to deepen capital formation, broaden investor participation, and expand Nigeria’s capital market beyond its current structure.
He noted that the platform would support both public and private markets, alongside derivatives trading across a range of instruments, including equities, corporate and government bonds, commercial papers, and exchange-traded funds.
The new exchange is expected to operate alongside existing market players such as Nigerian Exchange Limited and NASD, which currently dominate equities and over-the-counter trading segments, respectively.
Ekekwe said the exchange is built on the principle of “investment inclusion,” aimed at mobilising idle capital within the Nigerian economy.
He stressed that a significant volume of cash remains outside the formal financial system, limiting its productive deployment.
“If we can channel even 50 per cent of that into simple sovereign instruments at about 10 per cent, that would generate roughly N250 billion in returns for citizens, while also providing the government with capital to fund development,” he said.
He added that pre-launch activities have commenced, with a decentralised rollout strategy that includes plans to establish the exchange’s headquarters in Owerri, alongside regional centres in Aba, Kano, and Ibadan.
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According to him, Contisx will provide an alternative platform for businesses, cooperatives, and subnational governments to raise capital, while catering to a broader pool of investors, including those traditionally excluded from formal investment channels.
Ekekwe also emphasised the role of regulatory reforms in supporting the initiative, citing the recently enacted Investments and Securities Act 2025 as a key enabler for the exchange’s operations and the overall development of Nigeria’s capital market.
He further invited stakeholders across the country to participate in the project, noting that a countdown to the official launch has already begun on the exchange’s website.
