NSE reiterates commitment to enhance investor conference

 

L – R: Mr. Dunama Stanley Balami, Council Member, The Nigerian Stock Exchange (NSE); Oscar Onyema, Chief Executive Officer, NSE; Ade Bajomo, Executive Director, Market Operations and Technology, NSE; Adeola Mojisola, Head, Council Secretariat/Council Secretary, NSE; Bola Adeeko, Head, Corporate Services Division, NSE and Emeka Madubuike, Chairman, Association of Stockbroking Houses of Nigeria (ASHON) at the Induction Ceremony for recently qualified dealing clerks at The Nigerian Stock Exchange.

The Nigerian Stock Exchange (NSE) has reiterated its willingness to enhance investor confidence that will upturn Nigerian stock market.

Speaking at the induction ceremony for recently qualified dealing clerks on Monday, Chief Executive Officer, Oscar Onyema said the exchange has implemented a strong regulatory environment to protect investors against infractions while enhancing investor confidence in the market.

According to him, “We have developed and revised enforceable rules for dealing members and Issuers, and signed an memoranding of understanding with Economic and Financial Crimes Commission (EFCC) to increase cooperation and communication in the fight against financial crimes in the capital market.

Onyema stated that the ceremony is very important to the bourse as an organization, as it is the official welcome ceremony for the future leaders of the Nigerian capital market.

“The capital market will only be as good as the people working in it. You are here today after undergoing a rigorous screening process which is essentially aimed at ensuring only the best hands operate in this market.”

At the NSE, we are driving a growth strategy based on three strategic objectives which are to increase listings across five asset classes; increase order-flow across these asset classes; and operate a fair and orderly market based on just and equitable principles, he added.

Onyema stressed that the target of NSE is to work with a strong ecosystem in a seamless manner to introduce to achieve those objectives.

He recall that NSE recently launched the Minimum Operating Standards (MOS) and carried out a series of inspections of its dealing members to ensure that they meet the set requirements and standards. “This was essentially to ensure a stronger, more efficient broker-dealer community that is well suited for doing business in the 21st century.”

He however pledged that, the exchange, will continue to do its part in ensuring that it provide a competitive platform for the dealing members to participate in the financial market.

Out of 50 candidates who wrote the Chartered Institute of Stockbrokers (CIS) examination and went through the mandatory practical Automated Trading System (ATS) training at the exchange, 39 candidates passed the oral examination.