Connect with us


Nigerian capital market key to economic growth, wealth creation – Onyema



Nigerian capital market key to economic growth, wealth creation – Onyema

Oscar Onyema, the Chief Executive Officer, Nigerian Stock Exchange (NSE), on Tuesday, said that the capital market was important for economic development and wealth creation.

Onyema made the declaration at the Market Data Workshop organised by NSE in partnership with the Independent Software Vendors (ISVs) and Market Data Vendors (MDVs) in Lagos.

He said that “in spite of the challenging economic conditions we are experiencing in Nigeria, the capital market still remains one of the main vehicles for economic development and wealth creation.”

He added that the capital market should be used effectively to ensure economic development.

He explained that the NSE Premium Board had returned 11.3 per cent Year-To-Date as at Oct. 17.

According to him, the level of private sector time deposits have declined by 14.4 per cent to N3.8 trillion over the last one year, from September 2015 to August 2016.

He noted that “with an average inflation rate of 12.7 percent over the last year, the NSE Market Data Workshop, themed “Understanding Market Data for Savvy Investing and Wealth Creation” could not be more apt.”

Onyema said domestic investors and foreign portfolio investors required an elevated level of insight in order to discern between great investments and lame investments, especially during a challenging down cycle.

He added that “when we talk about market data, we refer to the pre and post trade-related data for the financial instruments traded on the NSE.

“NSE market data informs traders, investors, media and others in the market on the quotations, latest price, and historical trends for the equities, fixed-income, and ETF products that were traded on its platform.

“This information is not only used in real time to make instantaneous buy and sell decisions, but the historical market data is used to make price projections, as well as calculate market risk on investment portfolios.”

He stated that the workshop was designed specifically to provide capital market participants with sufficient knowledge about exploiting NSE market data for smart investment decisions.

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.The Verge Communications (NEWSVERGE) is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.