The Nigerian Stock Exchange now Nigerian Exchange Group was founded in 1960 as the Lagos Stock Exchange, on September 15, 1960. Operations began officially on August 25, 1961 with 19 securities listed for trading but informal operations had commenced earlier in June, 1961. As Nigeria celebrates 62 years anniversary, Kayode Tokede writes on how the Exchange has driven Africa’s largest economy, integrated market infrastructure, and its role in wealth creation.
With the economic expansion, the management of the Exchange created mechanisms such as the All-Share Index , NGX 30, and sectoral Indices to track the market performance. The CEO also boasts of the Exchange’s impact on government and corporates with reference to major listings recorded in the bourse like the Tripartite listings of the Sukuk bond by the Debt Management Office and other debt bonds such as the FGN Bonds. “In the end, we are contributing our own quota in improving Nigeria’s economy through the various strategic listings on the Exchange”, he said.
NGX successfully launched West Africa’s first Exchange Traded Derivatives platform and collaborated with the premier central Counterparty in Nigeria, NG Clearing Limited, to provide the clearing infrastructure for NGX Derivatives Market.
“The capital market has been a driving force in the nation’s GDP growth and if more companies are listed, most especially the telecommunication and upstream companies, it will enhance the economic growth and capital market wealth creation.
I hope all is well THISDAY. It seems like this logo is for another NSE sha.. Nigerian Society of Engineers. Or na logo blocking things?