By Michael Eboh
As part of efforts aimed at assisting the Nigerian capital market to attain full recovery to sustain its pivotal role in the nation’s economic development, The Nigerian Stock Exchange (NSE) has concluded arrangements to host the Chief Executive Officers (CEOs) of all its quoted companies.
According to a statement by the spokesperson of the NSE, Mr. Sola Oni, the meeting tagged “The Nigerian Stock Exchange’s Town Hall Meeting with Chief Executive Officers of Quoted Companies” is scheduled to hold Tuesday, July 7, 2009 at the premises of the NSE.
Professor (Mrs.) Ndi Okereke-Onyiuke
He disclosed that the forum is designed to help stakeholders examine the current economic climate, especially as it affects the capital market; taking into consideration their effects on the various stakeholders in the market.
He noted that the Director-General/CEO of the NSE, Professor (Mrs.) Ndi Okereke-Onyiuke, would brief the chief executives on current trends in the market with special emphasis on the NSE’s critical success factors.
He said, “The forum would provide a top level interactive session whereby CEOs would discuss the efforts being put in place to improve shareholder value. It is also expected to strengthen the relationship between The NSE and listed companies. In recent time, The NSE’s performance indicators have been rising while investors’ confidence is also on the upswing. This has been largely due to impressive corporate performance and the NSE’s dynamic risk management approach, among others. As the market has embarked on effective path to full recovery, captains of industries should come together to harmonize their thoughts on the short, medium and long term measures needed to reposition the market for its historic role as the heart beat of Nigeria’s economy.
Eko, am not sure about thar hedge fund talk of yours, are they not some of the root causes of current problems in the western markets. much stronger regulation is being planned for them in the west, all they do is bet on things falling or rising, no productivity. they have the capacity to destroy good companies.
The Dg Ndi Okereke has been doing a good job in managing our stock exchange in the face of the global financial melt down in the West,however i think in addition to having an interactive session with top CEO,s of the major corporations, she should also encourage the active participation of Hedge funds, and Private Equity firms in the market,who will mop up cheap stocks when stock prices fall to the levels we have seen in recent times.Most of the most active and “vibrant” exchanges around the world,London,New York,Hong Kong have a large involvement of institutional investors which we still dont have in Nigeria.I will also urge the NSE to partner with Johannesburg Stock Exchange so Nigerian firms can enjoy the benefit of dual listings…Eko Oni baje O.