NSE holds clinic to further empower market stakeholders

To further empower and educate capital market stakeholders on dematerialisation, direct cash settlement and e-dividend, the Nigerian Stock Exchange has organised an investor clinic, the Exchange has organised investor clinic on the above stated areas.
The clinic which took place Wednesday, September 12, 2017 at the Stock Exchange House, Lagos was targeted at sensitizing the investing public and brokerage community of contemporary initiatives in the market.
This edition of the NSE Investor Clinic which was sponsored by ARM Pension Fund Managers Limited and Africa Prudential Registrars Plc, according to a press statement by the Exchange, shed light on the importance of dematerialisation as a necessity in the trading of shares.
Participants were also made to understand the advantages of direct cash settlement and e-dividend processing in the consolidation of returns on their equity investment as well as the overall benefits to the Nigerian Capital Market.
Speaking at the event, the Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said “the NSE Investor Clinic brings to the fore the importance of dematerialisation in ensuring improved market velocity and integrity as well as the role of direct cash settlement in enhancing investor confidence by ensuring that proceeds from the sale of securities are remitted directly into investors’ accounts”.
He stressed the importance of e-dividend in not only reducing the perennial issue of unclaimed dividend growth, but in ensuring that investors derive the full benefits of their investments by having their dividends paid directly into their bank accounts as soon as these are disbursed by issuers, regardless of whether these are savings or current accounts.
According to him, “at The Nigerian Stock Exchange, we are committed to improving overall financial literacy and inclusion in the country, and ensuring we implement efficient processes that provide investors easy and intuitive access to grow their wealth.
“This commitment is expressed in the various initiatives undertaken by The Exchange. In 2016 alone, we executed over 200 free capacity building workshops, aimed at enhancing investor understanding of the workings of the capital market. The multiplier effects of these workshops are phenomenal, as over 25,000 participating investors have been equipped to make better investment decisions”.
Over 200 participants attended the NSE Investor Clinic which had seasoned and certified subject matter experts, such as Mr. Henry Rowlands, Director, Capital Market Development, Securities and Exchange Commission; Mr. Seyi Owoturo, CEO, United Securities Limited and Mr Kenneth Nwafor, Operations Manager, Market Operations NSE as facilitators.
It will be recalled that the Exchange on June 1, 2017, launched X-Academy, its financial literacy and inclusion platform designed to provide education services to individual, corporate and government institutions who want to gain a better understanding of the various aspects of the capital markets and also improve overall corporate governance within their respective institutions.
X- Academy offers a wide range of courses geared towards bridging the knowledge gap of investors and issuers about products and services of the capital market. It is also a platform to enhance financial literacy and inclusion and build on our track record of pushing the boundaries of financial education in Nigeria across all segments of investors
Picture caption:
L – R Shows Bonaventure Onwuji, Listing Compliance Manager, The Nigerian Stock Exchange (NSE); Godstime Iwenekhai, Acting Head, Listings Regulation Department, NSE; Tinuade Awe, General Counsel, Head of Regulation, NSE; Agnes Lutukai, Head of Department, Professional Practice, West Africa KPMG Professional Service; Chineme Nwigbo, Senior Manager, Department of Professional Practice, West Africa KPMG Professional Services; Williams Erimona, Senior Manager, Department of Professional Practice, West Africa KPMG Professional Services at Regulatory and Statutory Disclosure Training at the Exchange on Monday.