Nigeria Commodity Exchange (NCX) Recent Developments August 2018
Stay informed about the recent developments at the Nigeria Commodity Exchange (NCX) as discussed in the August 2018 update by the Managing Director/CEO. Learn about product development, capacity building programs, acquisition of CAPI devices, collaboration with NNCMC, and the next steps in warehouse renovation and system development. Explore factors responsible for development and issues for CMC deliberation, including the need for comprehensive information on listed commodities, contract specifications, strengthening the supply side, passage of relevant bills, and development of commodity grades and standards.
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Presentation Transcript
NIGERIA COMMODITY EXCHANGE (NCX): AN UPDATE BY THE MANAGING DIRECTOR/CEO AUGUST 2018
RECENT DEVELOPMENTS FROM LAST MEETING Product Development: Consultants were commissioned to conduct in-depth Research Studies on two principal commodity classes - agro commodities (staples and cash crops) and - solid minerals. The research has been concluded and published, copies have been sent to the National Library of Nigeria Capacity building programmes on solid minerals have also been conducted by the consultants for the staff of NCX Acquisition of CAPI devises for the management of MIS Collaboration with NNCMC
FACTORS RESPONSIBLE FOR DEVELOPMENT Need to have comprehensive information on listed commodities Contract specification and product classification Strengthening the supply side
NEXT STEPS Renovation of more warehouses Conclusion of the development of new Warehousing Management System and Trading System
ISSUES FOR CMC DELIBERATION Expeditious passage of the Warehouse Receipt Regulatory Agency and Other Related Matters Bill at the National Assembly into law Need for the conclusion of the development of Nationally Acceptable Commodity Grades and Standards by the SON and other stakeholders
