NSE Pledges to Lead Growth of Regional Capital Markets

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By Goddy Egene

The Nigerian Stock Exchange (NSE) said it has a unique role to play in the sustainable growth of the domestic and regional capital markets as well as the broader economy.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema said this while speaking to THISDAY in Lagos.

He said the role of the NSE would  be fulfilled by mobilising savings for domestic investment in the economy including sectors that require  special attention such as small and medium scale enterprises(SMEs) and infrastructure  sectors.

“We will also provide thought leadership on economic and business issues, build capacity for institutions and communities and promote good governance as the foundation of sustainable and equitable long-term growth and competitiveness,” he added.

According to Onyema, the business model of the exchange ensures long-term sustainability that enables it to weather cyclical changes in the market conditions and provide new, innovative opportunities for wealth creation.

“We provide a market for the issuance and trading of range of investment products (including equities, bonds, exchange traded funds and mutual funds) powered by world-class technologies and robust regulatory framework, for reliable and efficient access to capital formation and value creation,” he said.

The NSE boss had last Thursday said the demutualisation process  was still on course.

According to him, they are waiting for the signing of the Demutualisation Bill to be signed into law to fast-track the process.

“While waiting for the Bill to be signed into law, we are working on some oustatding aspects and providing clarity on the process through regular engagement with stakeholders. We are very positive that the demutualisation of the NSE will further catalyse the development of transparent and efficient capital market that is very critical to the country’s economy,” he said.

Reviewing the performance of  the exchange in 2017, Onyema said a total income of N8.30billion   and N3.82 billion surplus before tax were recorded , representing 86 per cent and 5,629 per cent  when compared with N4.46 billion and N27.45 million respectively  posted in 2016.

“This positive performance, after the significant headwinds witnessed over the past two years, affirms the resilience of our market and its potential as a catalyst of economic growth in Nigeria and the hub for Africa. Focus on executing our robust strategy of cost efficiency, products and revenue diversification, as well as innovative and improved operational delivery, underpins this strong performance,” he said.