Finance

Minister of Finance compliments NGX on capital market improvement

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The Federal Government has recognized the Nigerian Exchange Group (NGX) Limited for its endeavors in guaranteeing that the Nigerian capital market (NCM) is developed.

This was affirmed by the Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, during a graciousness visit of the administration of the NGX, drove by its Chief Executive Officer, Mr Temi Popoola.

While recognizing the responsibility of NGX’s administration, which finished in the demutualisation of the trade, Ahmed asked the administration to use innovation and developments which could facilitate the cycles of exchanging on the trade and encouraged the NGX to guarantee that normal residents partook effectively in the capital market.

“The Federal Government had coordinated the Securities and Exchange Commission (SEC) to put together a saving approach and program that would urge residents to partake effectively in the capital market as a methods for opening the potential.

The service was chipping away at the Finance Bill 2021 and would address frustrating ventures like Company Income Tax (CIT), among others,” Dr Zainab Ahmed said.

Talking further, the Permanent Secretary, Aliyu Ahmed, asked Popoola and his group to increase the tasks of the NGX for the advantages of financial backers and the market.

Popoola clarified that the point of the visit was to acquaint the NGX’s new administration with the Minister and furthermore to see the value in the service for its help to the Nigerian capital market.

He guaranteed the Minister that the trade will keep on tossing its help in making Nigeria an objective for unfamiliar speculation and to help the Ministry’s financial arrangement while communicating readiness to serve on the council of the Finance Bill 2021.

However, he called for a reduction in CIT, from 25% to 20%, among others, stressing that it would ultimately attract more taxes to the government.

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