The Association of Asset Custodians of Nigeria recently hosted its Annual Nigerian Investors Day in London, drawing close to 100 global participants including custodians, fund managers, international brokers and dealers, and both domestic and foreign institutional investors. The conference, which the association has been organizing for 15 years, aimed to promote portfolio investments in Nigeria by providing insights into the economy and opportunities for engagement with government officials. Babatunde Majiyagbe, president of the association, said the core mission remains to make Nigeria one of the most compelling destinations for investment in Africa.
Senior government and regulatory figures attended the event, lending weight to discussions about Nigeria's economic direction. Finance Minister Taiwo Oyedele provided details of ongoing economic reforms by the Federal Government, their expected outcomes and future policy interventions. Bola Ajomale, Executive Commissioner for Operations at the Securities and Exchange Commission, represented the regulator and its Director General. Jude Chiemeka, Chief Executive Officer of the Nigerian Exchange Limited, was represented by Abimbola Babalola, while Shehu Shantali, CEO of Central Securities Clearing Systems Plc, and Onome Komolafe also from CSCS attended. Leadership from Angola's BODIVA stock exchange was present to explore future collaborations.
The event focused on the theme 'Nigeria's Next Chapter: From Reforms to Returns', examining the capital market's role as the foundation of capital formation and economic development. Majiyagbe said foreign investors are crucial to Nigeria's economy, contributing to liquidity in capital and money markets and serving as a major source of foreign exchange that helps stabilize the naira. As asset custodians, members of the association occupy a unique position in the investment ecosystem, he noted, seeing capital before it arrives, while it is invested, and when it leaves.
Majiyagbe emphasized that participants are not retreating from Nigeria but seeking greater policy predictability and sustained reform momentum. Officials from the Securities and Exchange Commission and Nigerian Exchange Limited spoke about the capital market's readiness to unlock transformative opportunities for investors. Majiyagbe commended regulators including the Central Bank of Nigeria and the Securities and Exchange Commission for their efforts, though he acknowledged that macroeconomic developments can impact performance.
Looking ahead to the next edition, the Finance Minister suggested focusing on reinvestment as a natural progression from reforms to returns. Majiyagbe said the conversation should move beyond whether reforms are occurring to whether they are improving Nigeria's competitiveness relative to alternative investment destinations. The association will reflect on highlights from this year's and previous conferences before determining next year's focus. The AACN is marking 17 years this year, having grown from a small membership to a significantly larger organization that now facilitates a substantial proportion of investment transactions in the market.