LAGOS -The Nigerian Stock Exchange, NSE, has announced plans to further extend its trading hours by additional two hours, from five hours to seven hours by June 2011
Speaking in Lagos, yesterday, Interim Administrator of the NSE, Mr. Emmanuel Ikhazoboh, reiterated the agency’s plans to remove the five per cent ceiling on upward and downward movement of share prices in the market.
He explained that the extension of trading to seven hours would increase participation in the market, especially from investors in the Americas.
He said: “Within the next month or two, I am going to increase it to seven hours, from between 9:30 am and 4:30 pm, to increase volumes and allow American investors to trade in our market.
“Trading volumes rose by a quarter and the value of deals by 15 per cent in the first two months, after trading was widened by two hours to 9:30 am to 2:30 pm in December.”