The Nigerian Stock Exchange (NSE) and the Luxembourg Stock Exchange (LuxSE) have signed a Memorandum of Understanding (MoU) to promote cross-listing and trading of green bonds in Nigeria and Luxembourg.
The MoU was signed by the Chief Executive Officer (CEO) of the NSE, Mr. Oscar Onyema and CEO of LuxSE, Mr. Robert Scharfe, during the annual meeting of the World Federation of Exchanges in Singapore yesterday.
NSE said in a statement that the MoU further established an agreement for the two exchanges to collaborate with a view to sharing best practises and organising joint initiatives in their respective markets.
Commenting, Onyema said: “This collaboration reinforces NSE’s drive to foster the growth of sustainable finance in Nigeria, a journey that commenced with the launch of the first sovereign green bond by NSE, in partnership with the Federal Ministry of Environment, Federal Ministry of Finance and the Debt Management Office. With the MoU, issuers will enjoy the benefit of increased visibility through the cross-listing of their securities in Nigeria and Luxembourg.
“The partnership will further facilitate the growth of the Green Finance industry in Nigeria and ultimately deepen the Nigerian capital market through the mobilisation of the foreign green capital needed to fund sustainable projects in Nigeria.”