The Nigerian Stock Exchange (NSE) on Tuesday reaffirmed commitment to a well-regulated and transparent market through innovative technologies.
Mr Oscar Onyema, NSE Chief Executive Officer, gave the assurance at a retail investor webinar organised by the Exchange and Money Africa themed “Understanding Stock Market Investing”, in Lagos.
Onyema said that the Exchange would continue to provide a secure, convenient and accessible stock market for both retail and foreign investors.
He said that the Exchange had weathered challenges posed by the COVID-19 pandemic with the aid of technology.
“Innovations in technology have made investing in the Nigerian stock market secure, convenient and easily accessible.
“The year 2020 will be remembered as one with significant economic challenges for government, businesses and individuals.
“These challenges adversely affected the means of livelihood for many and many others saw their purchasing power eroded by inflationary trends.
“Viable investment options were few with interest rates of many securities falling considerably throughout the course of the year.
” In spite of this, the stock market proved to be the silver lining for many investments due to impressive feats acheived during the year,” he said.
Onyema said that the NSE All-Share Index year-on-year return stood at 27.86 per cent.
He said that N877 billion had been paid as dividends to investors during the year.
Onyema said that the need for diversification of investment portfolios, dividend payments and enhanced returns on investments contributed to enhanced interest in the stock market.
Also speaking, the Chief Executive Officer, Money Africa, Ms Oluwatosin Olaseinde, while highlighting the misconceptions of the stock market, allayed fears that the capital market was risky.
Olaseinde who spoke on the Basics of Stock Investing, advised investors to invest in stocks with strong fundamentals.
She said that the best time to invest in the stock market is now.
Olaseinde said that the stock market was not an exclusive club for brokers and the rich only.
Mr Olufemi Shobanjo, NSE Head, Broker/Dealer Regulation, said that the Securities and Exchange Commission, stockbrokers and other players in the stock market ecosystem must play their roles to sustain investor confidence.
Shobanjo said that the nation’s bourse was an important contributor in achieving a healthy and resilient economy.