NSE Restates Commitment to Support Capital Market Stakeholders

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Chief Executive Officer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema

Goddy Egene

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema has assured stakeholders in the capital market of the NSE’s commitment to support them saying the exchange’s operations and trading activities continue seamlessly throughout this period.

Onyema gave this assurance following the listing of Flour Mills of Nigeria Plc N12,499,600.000 3-year 10 per cent Series 3 Fixed Rate Senior Unsecured Bond due 2023 and the N7,500,400,000 5-year 11.10 per cent Series 3 Fixed Rate Senior Unsecured Bond due 2025. The NSE also listed the Primero BRT N16,500,000,000 Series 1, 17 per cent Fixed Rate Bonds due 2026 under the N100,000,000,000 Medium Term Bond Programme.

“We have put in place the requisite measures to guarantee that our staff are able to provide requisite support, our stakeholders are able to conduct business digitally, and that all relevant information continues to flow into the market to spur capital market activity during the COVID-19 pandemic,” Onyema said.

The Group Managing Director, Flour Mills Nigeria Plc, Mr. Peter Gbededo expressed excitement over the listing of the bond on the NSE.

“We are delighted to return to the capital market with such a successful outing, especially with the level of interest shown by investors. The response from the market vindicates our decision to have taken this additional step to diversify our financing options beyond short-term commercial bank debt. Furthermore, we are excited about the role NSE is playing in deepening secondary market liquidity thus aligning our market with international best practices, and we look forward to enjoying the benefits of these efforts in our short and long-term instruments,” Gbededo said.