On August 14, 2025, AFEX convened key stakeholders for an engagement session on the proposed Electronic Warehouse Receipt (EWR) Repository platform. The event, held at AFEX’s head office in Victoria Island, Lagos, brought together warehouse operators, traders, processors, financiers, collateral managers, and internal stakeholders to discuss the benefits, requirements, and implementation of the new system.

The session aimed to formally introduce the EWR Repository in line with the Investments and Securities Act (ISA) 2025 Nigeria, gather feedback from stakeholders on its design and functionality, and identify areas of collaboration to ensure the platform addresses the needs of all market participants.

Financiers highlighted concerns around the risk of default and delays in insurance claims on insured collateral. Collateral Managers echoed these views and proposed the creation of a sinking fund, to be managed by the Exchange or the Repository, as an additional safeguard. Collateral Management Companies expressed interest in working with AFEX and the Securities and Exchange Commission (SEC) to establish a formal Association for Collateral Managers in Nigeria, to enhance industry standards and encourage collaboration.

The engagement also provided an opportunity for participants to share insights that will guide the development of the platform, ensuring it improves transparency, reduces risk, and strengthens confidence in Nigeria’s commodities market.

The outcomes of the session will feed into the final design and rollout of the EWR Repository, reinforcing AFEX’s mission to deepen participation, enhance trust, and unlock financing opportunities in Africa’s commodities sector.