Oscar Onyema
Goddy Egene
The Chief Executive Officer of the
Nigerian Stock Exchange (NSE), Mr. Oscar Onyema will on
Monday lead
other members of the executive committee of the exchange to review the
performance of the market last year and unveil plans for this year.
According to the exchange the
presentation to be given by Onyema would cover global capital market
review including Africa and the world.
“A review of the performance of the
exchange. This will cover product performance (equities, fixed income
and exchange traded products); The NSE’s strategic performance across
business development (listings, index launch, strategic projects etc.);
market initiatives (business partnerships, innovation, advocacy and
more); and corporate citizenship development (ESG related efforts),” the
exchange said.
The exchange added that Onyema would
also give the prognosis for 2020 covering local and international market
postulations, the NSE’s strategic initiatives, and more.
According to the NSE, the Nigerian
capital market mirrors the performance of the larger economy, which
continued its moderate path of recovery.
“Despite challenges faced, the NSE
continued to execute on the its 2018 – 2021 corporate strategy, geared
towards (a) enhancing the customer experience across the value chain,
(b) reorganization for success, and (c) capitalising on mission critical
strategic initiatives (demutualisation).
“In 2019, we continued to enhance our
product portfolio, orchestrated ground-breaking investment forums and
listed some of Africa’s largest companies. This resilience saw the
market capitalisation increase by 20.42 per cent to N12.92 trillion from
N10.72trillion in 2018. Turnover also increased by 389.26 per cent when
compared to 2018. Capital raising was dominated by the federal
government, being responsible for 60 per cent of bond issuances during
the period in a bid to finance fiscal and infrastructure deficits,” the
exchange said.
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