NSE Restates Commitment to Protect Investors, Recovers N1.44bn Shares

Oscar Onyema

Goddy Egene

The Nigerian Stock Exchange (NSE) facilitated the restitutions and recoveries of shares worth N1.436 billion in 2019, the Chief Executive Officer of NSE, Mr. Oscar Onyema disclosed this yesterday, saying it showed the commitment of the exchange to protect investors in the stock market.

According to Onyema, the restitution of the shares is one of the milestones recorded by the exchange in 2019, stressing that the exchange would continue to protect investors’ interests.

Reviewing the performance of the stock market in 2019 and giving outlook for 2020, the NSE boss said the exchange also worked with securities lending agents to develop a securities lending pool currently worth about N1.07 billion.

“ The NSE launched: X-Mobile App to boost investors’ participation; investor relations data pack to enhance issuers’ stakeholder engagement and mutual fund trading and distribution platform to enhance the retail customer experience,” he added.

On market development, he said the exchange hosted interactive session in collaboration with Coronation Merchant Bank to spur growth in the insurance sector.

“The NSE also hosted an interactive session with stakeholders in the Consumer Goods Sector to discuss the role of the capital market in unlocking value in its sector. We also held the inaugural edition of the Islamic Finance in Nigeria (IFN) forum in partnership with REDmoney Group to harness the Islamic Finance Sector for infrastructure development and economic growth. We equally organised fixed income trading workshop and retail investor coverage workshop to enhance the capacity of dealing members and increase investors participation from various investment classes,” he added.

Onyema said the NSE amended rules on pricing methodology to ensure overall market stability and efficiency and fairness in pricing securities.