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Lagos/Ibadan branch of NSE records trading activities worth N17b in 2014

Nigerian Stock Exchange, Director-General Oscar Onyema
Nigerian Stock Exchange, Director-General Oscar Onyema

The Lagos/Ibadan branch of Nigerian Stock Exchange (NSE) has recorded trading activities worth N17 billion in its 2014 operations, compared to N32billion achieved in the previous year.

Speaking during the yearly general meeting of Lagos/Ibadan zone branch, the Chief Executive Officer of the NSE, Oscar Onyema attributed the decrease to inactivity in some of the branch trading floors, which, he said was mostly as a result of the non-completion of the implementation of the x-Gen across some of the branches.

The NSE boss, however noted that the branch Exchanges participated in the interactive sessions of many trade groups and state governments across the country, which, according to the Exchange to reach existing and potential market participant.

He added that the Exchange, during the year under review, initiated strategic partnership with some state government and the organised private sector outside Lagos state.

“In 2004, the Exchange’s thirteen branch offices executed 202 financial literacy programme across the country. We participated in many radio and television programme as part of our enlightenment efforts, while also assisting many news and print media with market information.”

He expressed the Exchange’s commitment to continue to give its branch offices priority in order to enhance efficiency.

Oscar explained that work was completed on the plan for the branch approval of the National council.

The primary objective of the transformation initiative, according to him, was to strategically turn the outpost into a revenue generating units.

The programme, which he described as a reversal of the age-long cost centre status, according to him would ensure that all NSE branch offices are cited in the Central Business District across the country.

“With standardised facade, office appropriately staffed with requisite manpower and supported with technology to deliver exchange business in their catchment areas.”

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