The Pension Reform Act, PRA, 2014 will reduce the challenges of accessing long-term financing for infrastructural development in the country, says Chinelo Anohu-Amazu, director general, National Pension Commission, PenCom. While addressing investors at a road show at the London Stock Exchange, LSE, organised by the Nigerian Stock Exchange, NSE, she said the initiative was part of the drive to promote dual listing and showcase the potential of quoted companies on the NSE to global markets.
The PenCom boss noted that her organisation had persistently pursued strategic reform for the pensions industry in Nigeria.
Anohu-Amazu also stated that the PenCom relentlessly pursued strategic alliances that were aimed at shoring up foreign direct investment, FDI, to Nigeria. The DG was part of a team of regulators, corporate finance experts, lawyers, capital market operators led by Oscar Onyema the CEO of the NSE at the event.
Onyema said the road show was an opportunity for engagement between the UK and operatives of the Nigerian capital market with a view to deepening domestic and regional markets; enhancing liquidity and identifying institutional and capacity building initiatives needed to develop both markets and create long term value for respective stakeholders. “The plan to get local firms to list both on the NSE and LSE is part of our strategy of transforming Nigeria into an international financial centre that serves not only the Africa region but also the global market,” he said.
Xavier Rolet, CEO of the LSE, added that the event was a reflection of the global investment community’s strong desire to be a part of the Nigeria story via the increasingly strong partnership being forged between Nigeria and London.