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The Nigerian Exchange Group (NGX) has called for stronger collaboration with the Economic and Financial Crimes Commission (EFCC) to enhance compliance in digital asset trading and safeguard Nigeria’s stock market from fraud.
The appeal was made on Tuesday, when the NGX CEO, Olufemi Shobanjo, led a delegation on a courtesy visit to EFCC Chairman Ola Olukoyede at the Commission’s corporate headquarters in Abuja.
Shobanjo emphasised the growing sophistication of fraud in the digital age, highlighting the need for renewed efforts to protect the stock market’s integrity.
“We signed an MOU in 2013 that served us well, but with the market’s growth, criminal elements are taking advantage. We need to strengthen our collaboration with the EFCC, given your broad powers and expertise in tackling financial crimes,” he stated.
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Responding, EFCC Chairman Olukoyede assured the NGX of the Commission’s commitment to supporting efforts to secure the stock market.
“Compliance is critical, and as part of our mandate, we are ready to collaborate. We will review the previous MOU and explore creating a desk for seamless cooperation,” he said, reiterating the EFCC’s dedication to curbing asset abuse and illegal trading practices.
The collaboration aims to reinforce investor confidence and ensure that Nigeria’s capital market remains credible and fraud-free.
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