Nigerian Exchange (NGX) Announces Extension of Daily Trading Hours

Strategic Shift in Market Operations

The Nigerian Exchange Limited (NGX) has officially announced that it will extend its daily trading hours, moving to a new schedule of 9:00 a.m. to 4:00 p.m. WAT. This change, which is set to take effect on April 27, follows receipt of the necessary regulatory approvals. The initiative is part of the exchange's ongoing efforts to modernize its infrastructure and improve the overall efficiency of the Nigerian capital market.

Objectives for Market Liquidity

The primary driver behind this extension is the desire to improve market liquidity and provide market participants with greater flexibility. By increasing the duration of the trading session, the NGX aims to:

• Facilitate increased trading volumes
• Allow for better price discovery
• Provide investors with more time to react to market-moving information
• Enhance the competitiveness of the Nigerian bourse on the global stage

Alignment with Global Standards

Industry experts have noted that this move aligns the Nigerian Exchange more closely with international trading standards. Extending the trading window is a common practice among major global exchanges, designed to accommodate diverse time zones and institutional investor requirements. Market stakeholders, including stockbrokers and institutional investors, have expressed optimism that the additional hour will contribute to a more robust and active trading environment in Nigeria.

Next Steps for Market Participants

As the April 27 implementation date approaches, the NGX is expected to continue engaging with trading license holders and other stakeholders to ensure a seamless transition to the new schedule. The exchange has emphasized that this adjustment is a key component of its broader strategy to deepen the market and attract both domestic and foreign capital.