The Nigerian Exchange Group (NGX Group) on Tuesday stated that weak information governance and undependable digital systems might make it harder for African services to bring in financial investment and increase the dangers financiers connect to moneying them.
The NGX Group handling director, Temi Popoola, stated this while providing a keynote address on ‘Africa Capital Markets in a Data-driven Economy’ at the seventh CIO and C-Suite Conference and Awards Africa 2026 in Lagos.
Mr Popoola, represented by Jumoke Olaniyan, Group Chief Strategy Officer, NGX Group, stated companies with reputable information, strong controls and durable systems are much better placed to make financiers’ self-confidence.
He explained the monetary downside connected with weak details and governance as a trust discount rate.
According to him, financiers can require higher guarantees or element viewed dangers into their financing choices.
“Data technique is likewise a service method; innovation leaders and business boards must determine digital financial investments by their contributions to earnings, development and access to capital, instead of treating them simply as running expenses,” he stated.
Mr Popoola stated the repercussions of undependable systems extended beyond infotech failures, possibly postponing deals, damaging liquidity and weakening financier self-confidence.
He pointed out NGX Invest as an example of how trusted digital facilities might broaden access to capital markets.
According to the NGX Group, the platform has actually helped with more than 23 primary-market deals and supported over N3 trillion in capital raising considering that its launch in 2024.
On information localisation, Popoola stated keeping information within nationwide borders did not immediately ensure security.
He stated that extremely limiting policies might increase expenses, limitation access to sophisticated services and make complex cross-border organization.
Mr Popoola required protected, interoperable digital systems that would allow African companies to run throughout markets while abiding by various nationwide policies.
According to him, relied on identities, reputable information and regulative cooperation are required to make local capital markets more available to financiers.
Speaking, Rakiya Yusuf, director of the payment system guidance department at the Central Bank of Nigeria (CBN), stated efficient information localisation might promote financial investment in regional information centres, cloud services, telecoms facilities and digital platforms.
Ms Yusuf, who spoke on ‘Policy, Regulation and Data Sovereignty’, stated that localisation might likewise enhance regulators’ access to details for guidance, examination and enforcement.
She recognized facilities preparedness as a significant difficulty, keeping in mind that effective execution needed trusted electrical energy, connection, information centres, cloud facilities and cybersecurity abilities.
She stated insufficient capability might increase functional expenses and decrease performance, especially for banks that depended upon cross-border digital services and worldwide innovation collaborations.
Ms Yusuf prompted banks to deal with information localisation as a tactical and risk-management duty for their boards, instead of simply an infotech task.
She likewise required thorough mapping of payment-data circulations, more powerful cybersecurity and information security, evaluated healing systems and continued engagement with the CBN on execution difficulties.
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