Nollywood can boost investors in capital market, says NGX boss

The Chief Executive Officer of Nigerian Exchange Limited, Temi Popoola, has said that the domestic entertainment sector, Nollywood, can help to further boost retail investor activity in the capital market due to its appeal to Nigeria’s younger generation.

Popoola said this at the Closing Gong Ceremony commemorating the year’s final trading day and celebrating the achievements of Nollywood stalwart  Richard Mofe Damijo popularly referred to as RMD on Friday.

The CEO stated, “Nollywood plays a critical role in selling the Nigerian economy and can help to catalyse increased retail investor activity by educating the younger generation to crowd them into the market further.

“Nollywood stakeholders can also leverage the market to raise capital to fund their businesses and projects, deepening the synergy between the creative and capital sectors.”

Mofe Damijo, in his remarks, also noted that it was important that the business community and the creative sector stimulate interactions as both sides had tremendous value to offer each other and drive the growth of the Nigerian economy.

“We cannot promote Nigeria or attract foreign investment without integrating our art and culture into it, he said, adding that other countries who promote their economies on international platforms go through their art and culture”, he said.

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