From Ngozi Onyeakusi, Lagos
Following renewed investors’ confidence in the nation’s capital market, the Nigeria Stock Exchange (NSE) has recorded growth in value of share traded to the tune of 57.3 per cent, from N2.65 billion 2012 to N4.17 billion 2013.
The Chief Executive Officer, NSE, Mr Oscar Onyema who disclosed this at the Investors Clinic held at the NSE building yesterday noted that all vital performance metrics in the market have bounced from the critical low in 2008 to an upward trend, leading to the market capitalization increasing by over 47.33% in the recent past.
According to him, presently, local Investors participation in the market stood at over 50% compared to the 49.28% foreign participation.
He added that improved regulatory environment and performance of quoted companies from 2012 till date, has positively impacted on stock prices and overall market indices.
Highlighting other achievements recorded by the market, he opined that in line with one of the markets core strategic pillars for enhanced performance and growth, i.e. instituting a “strong investor protection” framework, the market has re-constituted the Board of Trustees for the Investor Protection Fund (IPF) following approval secured from the Securities and Exchange Commission (SEC).
Onyema equally stated that the market has adopted a zero-tolerance stance on dealing member firms and listed companies violations adding that the market has started building a robust financial literacy program. “Back in February 2012, we kicked off our financial literacy program as a first step in protecting investors. This program aims to enhance investors’ understanding of the basics of investing around portfolio construction, asset allocation and risk diversification”, he assured.
On technology, he stated that the market has rolled out X-Gen, which is a new generation Trading Platform that supports the effort to drive the market to a higher level.
He assured that the focus of the market