NGX and Bank of Industry Take SME Financing Campaign to Kano to Bridge Capital Market Gaps

NGX and the Bank of Industry take their capital market advocacy to Kano, helping Northern SMEs access long-term growth funding and formalize operations.

By: AXL Media

Published: Apr 15, 2026, 6:09 AM EDT

Source: Information for this report was sourced from Leadership

Strategic Engagement in Nigeria’s Commercial Hub

Nigerian Exchange Limited (NGX) and the Bank of Industry (BOI) have intensified their collaborative efforts to bring small and medium-sized enterprises (SMEs) into the nation’s formal financial fold. The partnership recently held a high-level workshop in Kano, marking the second leg of a national advocacy drive that began in Lagos last year. By targeting Kano, a historic center of commerce, the institutions aim to tap into the significant but largely informal entrepreneurial base of Northern Nigeria, connecting local potential with structured long-term capital.

Unlocking Growth Through Market Frameworks

The workshop, themed "Unlocking Growth – Harnessing the Capital Market for SME Growth," focused on practical financing pathways rather than mere theory. Dr. Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group, noted that while funding is essential, sustainable growth requires the right institutional platforms. He described Kano as a critical gateway for the capital market to engage with untapped economic potential, emphasizing that formalizing these businesses is key to their longevity and resilience in a volatile macroeconomic climate.

Demystifying the Capital Market for Small Businesses

Jude Chiemeka, CEO of NGX, addressed the common perception that the capital market is only for large corporations. He highlighted the central role SMEs play in deepening market resilience and explained that the NGX is actively working to demystify listing requirements. Through the "NGX Growth Board," the exchange provides a specialized platform tailored to the needs of scaling businesses, allowing them to raise capital while maintaining high standards of corporate governance that attract serious investors.