By Taiye Olayemi
The Nigerian Exchange (NGX) Group on Wednesday honoured the Inspector-General of Police (IGP), Mr Kayode Egbetokun, at its closing gong ceremony in Lagos.
The recognition, according to the NGX Group, formed part of efforts to strengthen the fight against financial crimes and boost investor confidence in Nigeria’s capital market.
The Chairman of NGX Group, Dr Umaru Kwairanga, said closer collaboration between law enforcement agencies and market regulators had become critical to safeguarding the nation’s financial system.
Kwairanga said the Nigerian capital market was central to mobilising long-term capital for economic development, but warned that the rising incidence of fraudulent investment schemes and other financial crimes posed serious threats to market stability.
“A credible market thrives on trust, and trust is built on accountability, transparency and the assurance that wrongdoing will not go unchecked.
“The Nigerian capital market plays a vital role in mobilising long-term capital for economic growth. However, the rise of fraudulent schemes, illegal investment operations and financial crimes poses risks not only to investors but to the stability of the financial ecosystem.
“Addressing these threats requires coordinated action, intelligence sharing and strong institutional partnerships,” he said.
According to him, the deepening cooperation between the Nigeria Police Force and the Securities and Exchange Commission (SEC) was already strengthening enforcement actions and improving responses to capital market-related offences.
Kwairanga noted that the presence of the police within the capital market framework sent a strong signal that financial crimes would no longer be tolerated, adding that accountability was essential to sustaining trust in the market.
He commended Egbetokun for his leadership and support for initiatives aimed at protecting investors and preserving the integrity of the financial ecosystem.
Kwairanga reaffirmed the commitment of NGX Group to working with regulators and enforcement agencies to build a transparent, resilient and inclusive capital market capable of supporting Nigeria’s economic aspirations.
Earlier, Egbetokun described the closing gong ceremony as a beacon for investor prosperity in the capital market.
He expressed hope that the sound of the closing gong would resonate in boardrooms across the world and in the homes of Nigerians participating in the market.
The IGP thanked the NGX Group for the honour, describing the event as a new beginning in the partnership between the Nigeria Police Force and the Exchange.
“A transparent and well-regulated capital market is vital to Nigeria’s economic growth.
“The Nigeria Police Force remains committed to working with regulators and market operators to prevent financial crime, protect investors, and uphold the integrity of our financial system,” he said. (NAN) (www.nannews.ng)
PTB/AWA
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Edited by Olawunmi Ashafa
