Tuesday, 14 May 2013

NSE adopts wide consultations

nseTHE Nigerian Stock Exchange (NSE) said the current reforms at the nation’s bourse are anchored on the principle of wider consultations, just as its Executive Director, Haruna Jalo-Waziri, disclosed that the reforms were beginning to yield positives, as the market has already risen 19 per cent this year.

“As we write new rules and regulations, we sensitise the market through our publications on the website and allow a certain period of time for stakeholders to make input before final approval,” he said. “The policy of getting stakeholders to contribute into the regulation processes is the highest standard you can get anywhere in the world and that makes for easy compliance.

“Presently, there are draft rules on the website waiting for contributions. Theses are aimed at codifying the way we do things. Though not necessarily new, they were not codified before now. This would ensure efficiency and transparency.”

Jalo-Waziri noted that the 2016 market capitalization target of $1 trillion was being pursued vigorously, as the present administration has outlined series of reform programmes to drive it. Also, the Managing Director of Afrinvest West Africa, Ike Chioke, expressed optimism in the ability of the market to resurge fully.

Source: Guardian

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