NGX CEO harps on art investment at Coronation Group’s exhibition

The Chief Executive Officer of Nigerian Exchange Limited, Jude Chiemeka, says art as a form of investment has been very viable globally and there’s a need for Nigerian investors to tap into it.

“Art as an investment is a very good thing to have because the value appreciates just like any other commodity,” Chiemeka told Daily Trust in an interview at the sidelines of the Coronation Art Gallery’s 2024 exhibition, held in Lagos on Thursday.

The event, which was curated by Ugoma Ebilah, showcased the works of 13 female art collectors, including Funmi Oyetunji, Sola Carena, Toyin Odulate, Tinuade Awe, Grace Osime, Bimpe Nkontchou, Dudun Peterside, Ego Boyo, Freda Isingoma, and Dolores Odogwu.

Top distinguished guests who graced the occasion were the Minister of Finance, Wale Edun, Chairman of Coronation Group, Aigboje Aig-Imoukhuede; the CEO of the Nigerian Exchange Group Limited, Jude Chiemeka; and Chairman of Eko Electricity Distribution, Dere Otubu, among others.

Speaking with our correspondent, Chiemeka applauded the initiative, saying art investment is gaining ground globally.

“At the NGX, what we have tried to do is to create an art exchange where it is not exclusively for the rich, but ordinary aspiring individuals can be part of that community by owning a fraction. As the value appreciates, their investment in it can also appreciate.

“So, art as a form of investment is very viable globally, and we are beginning to catch up in Nigeria. It’s a good thing and we must commend the organisers of this event for creating this awareness,” the NGX CEO said.

The Managing Director and CEO of Coronation Trustees, Yemi Sadik, said the exhibition was to promote and preserve African art and culture, adding that it was part of the company’s corporate social responsibility.

“Art is not just a form of cultural expression; it is a sustainable asset that can drive wealth creation. We are committed to broadening access to the art world and ensuring that it becomes a resource for economic empowerment,” he said.

On her part, the company’s Chief Marketing and Communications Officer, Ngozi Akinyele, said “This exhibition is more than just a display of art; it is a celebration of the incredible contributions of women in the art world. It aligns perfectly with our broader goals of promoting inclusivity and cultural enrichment.”