By Emeka Aginam

As part of an empowerment programme for both hardware and software manufacturers and vendors in the country, the Nigerian Computer Society is seeking the support of the Nigerian Stock Exchange, (NSE) for the facilitation of funding plans for IT companies by creating IT venture capital.

Before now, NCS has been in discussion with banks towards setting up IT intervention funds for local OEMs (original equipment manufacturers) operating in the country.

IT firms in dire straits
The President of the NCS, Sir Demola Aladekomo while addressing NSE management last week in Lagos during a courtesy visit noted that economic fortunes of SMEs, especially in the ICT sector  were dwindling by the day as a result of competition from the foreign brands.

According to him, unless SMEs were adequately funded, their market will continue to shrink in the face of economic realities. He commended the NSE on its enhancement of its technology infrastructure which significantly reduced wastage and improved performance of the exchange’s operations and services.

“We are excited on your continued success in the development of your new trading platform and supporting technology infrastructure. We trust that the dynamic team at NSE will successfully reform the market and accelerate Nigeria’s economic development and we look forward to a mutually rewarding working relationship between you, Nigerian Stock Exchange and Nigeria Computer Society,” he said.

ASEM is solution
The CEO of Nigerian Stock Exchange, Mr. Oscar Onyema in his reaction told NCS team that the exchange was already providing qualitative standards for Alternative Securities Market (ASEM), as listing standards have been made easy for small-to-medium enterprises to come to the market to access funds.

He noted that the exchange was offering listed companies value-added services aimed at ensuring that all companies realize the value of a listing, to make the listing experience valuable and pleasant.

He commended NCS partnership with government agencies, adding that NSE was ready to support SME funding through the ASEM platform.

NCS is the umbrella body of all IT professionals and organizations in Nigeria. It has more than 17,000 members with three major interest groups — the Institute of Software Practitioners of Nigeria (ISPON), Information technology Association of Nigeria (ITAN) and ISPAN).

The areas of focus and intervention areas of NCS are not limited to the following:
*Employment Creation: In view of the current events in the country, we have a major initiative to create One Million jobs in the next five years. We are hoping to use Call centre, BPO and E-payment initiatives and technologies in relationship with Governments towards generating these jobs.

*IT in Security. We are fully engaging the Governments in using IT to fight the current issues we have in the country. Currently engaging them in Cybercrime laws, legislation, etc.

*Engage in strategic partnership with government agencies, to set up standards in software, hardware and system integration issues with a view to creating an enabling environment for a win-win situation.