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