13 December 2012

Nigeria: NSE Will Transform to Gateway of African Capital Markets - CEO

The Nigerian Stock Exchange (NSE) on Wednesday said it would transform the Nigerian Capital Market to gateway of African Capital Markets.

Mr Oscar Onyema, the Chief Executive Officer of the Exchange said this in Lagos at the 11TH Annual National Competition for secondary and tertiary institutions and Awards sponsored by the Exchange.

He said that the management of the NSE would continue to focus on innovations centred on technology and new product development in 2013.

Onyema said that these would help in technology-based solutions and data services as well as advocating changes in policy.

He said that the exchange would continue cleaning and restructuring, and making the market accessible.

He said that the exchange introduced the annual national competition in order to develop a culture of wealth creation among the youths.

Onyema said that the competition was meant to expose the young ones to the operations of the stock market, develop a culture of medium and long-term investment habits among the youths.

He added that the competition would also expose the students to career choices in the Securities market and related professions.

Dr Kingsley Monghalu, the Deputy Governor of Central Bank of Nigeria (CBN) urged the NSE to continue the competition for children.

Monghalu advised the children to develop themselves in writing, reading and solving arithmetic.

He said that all institutions in Nigeria should introduce "Financial Literacy" as a course to enhance the market place.

Miss Chiamaka Olu of Abia State won the first position in the Secondary School Essay Competition, while Mr Moses Ajireloja from Obafemi Awolowo University was the runner-up in Tertiary Institutions category. NAN

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