Dr. Umaru Kwairanga, Chairman of the Nigerian Exchange Group (NGX Group), says the first trading day following the extension of market hours was smooth, with no operational issues recorded.
The new trading hours took effect on Monday, April 27, changing from 9:30 a.m. – 2:30 p.m. to 9:00 a.m. – 4:00 p.m. This move aims to enhance market efficiency and liquidity.
Speaking with reporters on Tuesday in Lagos, Kwairanga said staff feedback indicated that the transition to the new schedule was seamless.
“From my observation and feedback from staff, the first day went smoothly with no hitches. It may take our operators a few days to adjust internal processes to the new extended hours. The Exchange also needs to set timings for events such as closing gong ceremonies, but we have successfully started a new trading era,” he said.
Reacting to the change, Mr. David Adonri, Vice President of Highcap Securities Ltd., said the first trading session under the new regime went well, with all schedules met.
“The first trading day of extended hours went very well yesterday. All schedules were met, and the system functioned properly,” Adonri said.
The seven-hour extended trading window is part of efforts to modernize the exchange. It will allow the market more time to absorb macroeconomic data, corporate disclosures, and global financial developments, improving price discovery.
Additionally, the extension will enable the market to respond more quickly to new information, reinforce its role as an information-driven system, and create better overlap with major international markets—making it easier for foreign investors to manage positions in real time.
