Positive year for local stock exchange
from OKORO CHINEDU in Lagos, Nigeria
LAGOS – CHIEF Executive Officer of the Nigerian Stock Exchange, Oscar Onyema, hailed the significant strides the bourse had made this year.
He highlighted among the major achievements as the launch of the Corporate Governance Rating System (CGRS), signing onto the UN Sustainable Stock Exchange (SSE) initiative, playing a leadership role in the West African Capital Markets Integration (WACMI) programme, World Federation Exchanges and his election as the President of the African Securities Exchanges Association.
“To strategically position the Nigerian capital market for this expansion,
the NSE, with immense support from capital market participants and various agencies in Nigeria, has made great strides in transforming the Exchange.
“As we shift gear into a growth phase, our combined triumph hinges on the
successes we have celebrated thus far,” he said at a welcome dinner of the
fourth Annual Capital Market Committee Retreat.
“Each of these five developments presents a real opportunity to create
wealth in the Nigerian capital market ecosystem, from investors to
corporates through market intermediaries to regulators and by extension
“Creating and sustaining the growth trajectory of our capital market, economy and the continent as a whole, requires a strong commitment from each of us here today. It is a journey we must embark upon, in order to guarantee our competitive advantage in today’s hyperconnected world.”
He said Nigeria must facilitate the drive for wealth creation for our own
people, while providing the platform to mobilize global savings for the
development of the real economy.
This past weekend Onyema was elected as the President of the African
Securities Exchanges Association.
“This presents us a real opportunity to drive the African capital market
development and growth agenda.
“Using this platform we can engage policy makers on a continental scale, create deeper pools of liquidity through linkage of the key financial markets in African, and bring financing of sustainable development goals to the fore for our markets in Africa,” he said.
– CAJ News
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