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NSE to increase capital market visibility

By on March 30, 2014

The Nigerian Stock Exchange has said that it will focus on efforts aimed at increasing global visibility for the nation’s capital market.

This, according to the exchange, will consolidate its activities and help to develop increased attraction from the global community towards the Nigerian market.

The NSE’s Chief Executive Officer, Mr. Oscar Onyema, who said this in a statement on Monday, noted that already, the previous efforts aimed at building corporate governance in the market had paid off.

He also said that the exchange would put things in place as a top player in the continent, thus, earning the emerging market status.

He said, “While the NSE’s focus from 2011 to 2013 has been on revamping corporate governance, improving human capacity, cleansing and restructuring the market, improving technology, product development, and advocacy for changes to policy; from 2014, we are determined to shift gears to drive innovations centered on increasing global visibility for the Nigerian capital market.

“We intend to develop a larger footprint on the African continent and ultimately, targeting emerging market status. That is why we are very much in support of the West African Capital Market Initiative efforts and similar programs.”

Onyema explained that focus on these initiatives would improve activities in the Nigerian capital market as there would be increase in volume and value of trades on the Exchange.

“This will open opportunities for the Nigerian investors to extend their reach, and we believe that these steps are critical to the NSE becoming the foremost securities exchange on the continent,” he added.

He added that the continuing education programs benefit both businesses and workers as the participants would sustain a highly skilled and specialised workforce with the skills to perform variety of tasks.

The Acting Head, Market Operations, NSE, Mr. Ade Ewuosho, said recently the Exchange would focus on the training of stockbrokers as one of the ways to build capacity and improve activities in the market.

While noting that the Exchange would be involved in various sessions to this end, he said the sessions will also offer brokers an insight into how to reach the retail market using new technology implemented with XGEN.

“The broad-based programme will also provide the participants with an opportunity to hone in their existing skills as well as interact with other stockbrokers to deepen their knowledge of the new system,” he said.

Ewuosho explained that Dealing Clerks who upgrade their work skills and knowledge would be equipped with the opportunity to keep up with the latest technologies and business techniques.

[Punch]