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Published On: Sun, Dec 14th, 2014

NSE boss advocates for strong regulatory environment

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The Chief Executive Officer of the Nigerian Stock Exchange NSE,   Mr Oscar Onyema has reiterated the need  for strong regulatory environment such that will promote  investors confidence in the nation’s capital market.

According to him, strong regulation environment would protect investors against infractions and other market sharp practices.

He said that sustainable investor protection framework would remain a key pillar in its transformation agenda.

Onyema said that the focus of the transformation programme was to strengthen the regulatory framework to ensure a safe investment destination for both local and foreign investors and establish a favourable business environment for companies to thrive in.

According to him, with immense support from capital market participants and various agencies in Nigeria, the NSE has made great strides in its transformation journey which has brought about major review in market governance, structure and operations.

“We have worked tirelessly to revise key rules for dealing members and issuers, and developed several new rules to create the much needed order, equitable treatment, efficiency and protection for all participants in our market,” Onyema said.

He stated that the exchange had reinvigorated its Investor Protection Fund  to provide a statutorily backed solution for reducing losses investors  might suffer due to bankruptcy, insolvency, negligence or wrong-doing of a dealing member.

Onyema said that the exchange was committed to developing a more transparent, liquid and accessible market with a modern market structure to support the delivery of a wider range of investment products.

Onyema stated that the nations capital market has recorded huge recovery in the recent past.

Onyema who was represented by the Head of Corporate Communications NSE, Bola Adeeko attributed the recovery to initiatives and recovery measures introduced in the market which include good corporate governance, regulations aimed at protecting investors, attraction of investors to the market and promoting investors’ confidence.

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