The Nigerian Stock Exchange, NSE, will concentrate on achieving global visibility in 2014 having recorded some milestone in the effort of restructuring and improving technology development in the last three years, says Oscar Onyema, the NSE’s Chief Executive Officer.

Making the remark at a world press conference on performance of the Nigerian capital market in 2013 and projections into the New Year, Oscar said, “While the NSE’s focus from 2011 to 2013 has been on restructuring, improving technology, product development, and advocacy for changes to policy, in 2014, we will shift gear to drive innovations centered on increasing global visibility into the Nigerian capital market, developing a larger footprint on the continent, and ultimately, targeting emerging market status.”

He added, “In 2014, the Exchange’s primary focus will be on growing the capital market in preparation for achieving emerging market status. The NSE will facilitate access to and participation in the market; increase our footprint on the continent; and deploy a risk framework to safe-guard the market venue.”
He noted that the steps were critical to NSE becoming the foremost securities exchange on the continent.
He stated that the Exchange is poised to support growth in the real sector of the economy in line with the Federal Government’s objective through its five strategic objectives for 2014 to 2016.

According to the NSE’s boss, the five strategic objectives were derived from its new strategic plan, which include: achieving increase in the number of new listings across five asset classes; increase order flow in the five asset classes; operate a fair and orderly market based on just and equitable principles; champion the development of enabling laws and policies to drive capital market development; and diversify income its streams.

He as well admitted that non-commencement of Securities Lending has been an impediment to effective Market Making, since it birth the concept in 2012.
On local/foreign investors participation in the market, Onyema stated that that the Exchange does not have the power to determine who invests in the market, saying that equal support and level playing ground would be given to both local and foreign investor interested in investing in the market.

He said, “We don’t have the power to decide who comes into the market or not. We need both local and foreign investors. Our market cannot get where it is supposed to be without any category of the investors. So, we will continue to encourage both the local and foreign investors.”

Making a review of its activities in 2013, Onyema said the NSE focused on executing the “five pillars” of its transformation strategy, which targeted business development; enhanced regulatory programmes, 21st century technology strategies, enhanced market structure, and investor protection initiatives, buttressed by vital market development efforts.