Capital market remains economic development and wealth creation-Oscar

L – R: Ade Bajomo, Executive Director, Market Operations and Technology, The Nigerian Stock Exchange (NSE); Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE; Oscar N. Onyema, OON, Chief Executive Officer, NSE; Dr. Yemi Kale, Statistician General, National Bureau of Statistics; Bola Ajomale, Managing Director, NASD and Harriet Agbenyi, Moderator of the Panel at the NSE Market Data Workshop 2016 at the Civic Centre, Victoria Island, Lagos.
L – R: Ade Bajomo, Executive Director, Market Operations and Technology, The Nigerian Stock Exchange (NSE); Haruna Jalo-Waziri, Executive Director, Capital Markets Division, NSE; Oscar N. Onyema, OON, Chief Executive Officer, NSE; Dr. Yemi Kale, Statistician General, National Bureau of Statistics; Bola Ajomale, Managing Director, NASD and Harriet Agbenyi, Moderator of the Panel at the NSE Market Data Workshop 2016 at the Civic Centre, Victoria Island, Lagos.

The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Oscar Onyema has said in spite of the challenging economic conditions experiencing in Nigeria, the capital market still remains one of the main vehicles for economic development and wealth creation.

Onyema made this known at the market data workshop, hosted by the NSE today in Lagos.

According to him, “the NSE Premium Board has returned 11.3 per cent year till date 17th October 2016. The level of private sector time deposits have declined by 14.4 per cent to N3.8 trillion over the last one year (Sep ’15 to Aug ’16), while private sector savings deposits have increased by 19 per cent to N3.5 trillion. The average interest rate on these savings and time deposits are 3.6 per cent and 5.9 per cent respectively. With an average inflation rate of 12.7 per cen over the last year, the NSE Market Data Workshop, themed, “Understanding Market Data for Savvy Investing and Wealth Creation” could not be more apt.”

He stressed that, domestic investors, and indeed foreign portfolio investors, require an elevated level of insight in order to discern between great investments and lame investments, especially during a challenging down cycle.

That is why this workshop is designed specifically to provide capital market participants with sufficient knowledge about exploiting NSE market data for smart investment decisions, Onyema stated.

In his word: As we go through the current challenging economic headwinds, I have no doubt that the presentations and discussions here today will provide us with a deeper understanding of the opportunities that are available through the effective use of market data in the Nigerian capital market.

Speaking on value of market date Onyema said, NSE market data informs traders, investors, media and others in the market on the quotations, latest price, and historical trends for the equities, fixed-income, and ETF products that are traded on the platform.

This information is not only used in real time to make instantaneous buy and sell decisions, but the historical market data is used to make price projections, as well as calculate market risk on investment portfolios, he affirmed.