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New NSE DG Promises Better Times for Investors

By on April 5, 2011

The newly appointed Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, assumed duty Monday and  promised better times for stakeholders and investors in the capital market.
Onyema, who was officially  introduced to stockbrokers on the trading floor by the outgoing Interim Administrator, Mr. Emmanuel Ikazoboh, told brokers that he was available for advice on how to move the market forward.

He said funds were moving from developed countries to emerging market,  stressing that the Nigerian stock market needed to be positioned for such funds. The NSE boss rang the opening and closing bell on the trading floor of the Exchange.
He also had a maiden meeting with the management and staff of the Exchange where he charged them to rededicate themselves to work  in order to build an exchange that would be a pride of all.

He praised the efforts of the interim administration at repositioning the Exchange and laying a solid foundation to build upon.  According to him, productivity, hard work, commitment and loyalty to the Exchange would be the hallmark of his administration even as he promised that he would operate an open-door policy where all suggestions that can move the Exchange forward would be encouraged.
Responding on behalf of the stockbrokers, the Chairman of Association of Stockbroking Houses of Nigeria (ASHON), Alhaji Rasheed Yussuff pledged the cooperation of  his colleagues and called on Onyema  to work closely with them. According to him, working with brokers would enable him achieve his aim of finding  solutions  to the problems besetting the market. He added that  the brokers were those who know what the challenges in the market were.

Some of the brokers who spoke with THISDAY expressed confidence in the ability of Onyema to move the market to the next level.
” I am really impressed with his speech and very optimistic that he will deliver the goods. As he has called for our cooperation, we will definitely give him the needed support so that the market can be back on track. We are excited that he has assumed duty as the CEO of the Exchange,”  a broker, Mr. Mike Ezeh of Crane Securities Limited said.
Meanwhile, investors traded 250.463 million shares worth N2.279 billion in 6,115 deals, while the NSE All-Share Index fell by 0.34 per cent to close lower at 24,667.66.

source : Thisday