NASD Plc has finalised the processes for issuances on the NASD Digital Securities platform, which cuts across real estate, agriculture real estate, entertainment, creative and infrastructure assets involving public-private partnerships (PPPs).
Managing Director and Chief Executive Officer of NASD, Eguarekhide Longe, while outlining various initiatives rolled out to strengthen the operations of the OTC Exchange, said it has also developed the short-term debt market on NASD.
This followed approval from the Securities and Exchange Commission (SEC) for NASD’s rules for the issuance of commercial papers (CP).
He pointed out that the exchange has established a structured process for supporting growth companies, especially SMEs on the NASD enterprise portal – NASDeP.
According to him, it is useful given the increase in the monetary policy rate (MPR) to 26.25 per cent, which makes traditional funding sources more expensive for relevant businesses.
Recall that the SEC had recently approved NASD to launch its digital securities platform (N-DSP).
The N-DSP is powered by Blockstation, under the Regulatory Incubation (RI) Programme of the Commission.
The milestone, according to NASD, signifies a stride in fostering new-age innovation, enhanced transparency and deepening of trust and inclusion in Nigerian capital markets.
“Our objective is to empower millions of young investors with access to promising digital assets, ensuring they can make purchases with confidence in a compliant and secure investment environment. Nigeria currently ranks second globally for blockchain wallets, and our exchange is poised to support high-quality assets thriving on the blockchain.
“The diaspora, with $20 billion in annual remittances, can have a promising way to invest their money back home. The tokenisation of entertainment assets, such as publishing rights, can further empower and monetise the world’s largest film content creators, nollywood currently undercapitalised.
“New markets like tokenised real estate and mortgage-backed securities (MBS), can leverage tokenization to address challenges, such as the 28 million housing deficit, thereby creating a substantial market opportunity,” he said.
