Business Briefs
THE Nigerian Stock Exchange, NSE, has said that the participation of domestic investors in the Nigerian capital market has risen to 60 percent as foreign investors exited the country. Oscar Onyema, chief executive officer, NSE, said the decision of the federal and state governments to raise funds through the capital market is yielding results.
Speaking at a webinar on Wednesday, June 10, Onyema said: “During the lockdown, we kept the capital market opened. We immediately activated business continuity plans and luckily for us, the evolution of technology and digitalisation at all capital markets globally started before the pandemic.
“We were able to quickly flip the switch and go completely remote. We were reaching out to our dealing member firms via electronically and supporting corporate that are listed on the Exchange and putting out market-moving information.”
Onyema said the NSE engaged with policymakers and regulators to provide various palliatives and accommodations for market players to continue to drive liquidity in the market. “What we have seen as a result is that there has been a significant increase in activities in the capital market at the secondary level, driven by domestic players,” he said.
The NSE boss said the remote trading and engagement of market stakeholders was yielding results, with increased domestic investors’ participation as well as federal and state governments’ decision to raise funds through the capital market. “We have seen domestic players coming into the capital market in the context of foreign players doing flight to safety.
“60 percent participation in market activities is currently from domestic players, which is a major departure from the last four years where we show 50-50 percent in terms of market participation by domestic and foreign players.”
– Jun. 12, 2020 @ 16:34 GMT |
Tags: Domestic investors’ participation rose to 60% – NSE
