Contisx Receives SEC Approval for New Nigerian Stock Exchange

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Nigeria’s capital market is on the cusp of meaningful expansion. The Securities and Exchange Commission (SEC) has granted Approval-in-Principle (AIP) to Contisx Securities Exchange Plc to operate a new full-service securities exchange, marking a notable step toward diversifying trading infrastructure in Africa’s largest economy.

Prof. Ndubuisi Ekekwe, founder of Contisx, announced the milestone on April 20, 2026. With the AIP secured, the team is now focused on completing remaining regulatory and operational requirements, with a full commercial launch targeted for September 2026 specifically September 8 according to the exchange’s website countdown.

Contisx positions itself as a next-generation financial market infrastructure. It aims to support both public and private market listings, including equities, fixed income instruments such as corporate and government bonds, commercial papers, exchange-traded funds, and potentially derivatives. The platform emphasises multi-asset trading, institutional-grade execution, and decision intelligence tools designed to broaden participation and deepen capital formation beyond the current dominant Nigerian Exchange (NGX).

Headquartered in Owerri, Imo State at Plot F/14, Prince Dr. Alex Mbata Rd, Area G, New Owerri Contisx has already raised its flag at its permanent base. Plans are underway to establish regional centres in major commercial hubs including Aba, Kano, and Ibadan, with further expansion envisaged across the country. This decentralised approach signals an intention to reach businesses and investors outside Lagos and Abuja, addressing long-standing concerns about the concentration of capital market activity in a few urban centres.

In his announcement, Ekekwe extended a direct invitation to several stakeholder groups. Companies, cooperatives, and government entities seeking to raise capital are encouraged to engage early. The exchange promises experienced professionals who can guide capital market strategy, from pre-listing preparation through to ongoing compliance and scaling. Both public listings and private market solutions are on offer, potentially opening pathways for smaller and mid-sized enterprises that have historically found traditional routes challenging or inaccessible.

The founder also issued a pointed call to Nigeria’s broad African diaspora. “The moment is here,” he stated, framing Contisx as a mechanism to channel diaspora capital into communities and cities across Nigeria and the wider continent. With Nigeria positioned as a hub, the exchange plans to engage diaspora networks globally to co-create practical investment channels. A key message: “Invest at Home, Thrive Globally.” Ekekwe confirmed he will be in Ontario, Canada, in August 2026 and invited interested members of the diaspora to connect and explore opportunities to invest in Africa through the new platform.

On the talent front, Contisx is preparing to open its careers page on contisx.com in the coming weeks. The exchange is actively recruiting, with a strong emphasis on providing opportunities for young Nigerians to join what it describes as a national journey in building modern market infrastructure. This focus on youth participation aligns with broader efforts to harness Nigeria’s demographic dividend in the financial services sector.

The timing of the AIP comes against a backdrop of ongoing conversations about capital market development in Nigeria. While the NGX remains the primary venue for listed securities, initiatives that introduce competition, improve liquidity, or extend reach to underserved segments are often viewed as positive for overall market depth. Contisx aspires to contribute to mobilising what Ekekwe has described as under-mobilised domestic capital, creating an ecosystem where more businesses can “build, list, and trade” in a transparent, regulated environment.

For now, the exchange’s website features a waitlist and pre-launch information, with live trading and listing functionalities scheduled to activate post-launch. Contisx describes its mission in straightforward terms: “exchanging prosperity” not for the benefit of a few, but for broader economic participation.

Whether Contisx can translate regulatory approval and ambitious regional plans into a vibrant alternative marketplace will depend on execution in the months ahead: securing additional licences where needed, onboarding issuers and brokers, building robust technology infrastructure, and earning investor confidence in a competitive landscape.

As Nigeria continues to grapple with funding gaps for infrastructure, SMEs, and industrial growth, new platforms that facilitate efficient capital allocation carry strategic importance. Contisx’s entry adds another layer to the country’s evolving capital market architecture. The countdown to September 2026 has begun, and the coming period will reveal how quickly this new exchange can move from approval to active trading and how widely it is embraced by businesses, investors, and the Nigerian diaspora it seeks to engage.