The CEO of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has asserted that the United Kingdom remains a key partner to Nigeria, especially for its capital market development.
Onyema expressed this at the business networking event hosted by the British High Commission and featured by Theresa May, the Prime Minister of Great Britain.
As indicated by Onyema, the two nations have a long history of exchange and coordinated effort which is obvious in different parts of our economic sector.
He said: “As you know, the Nigerian Stock Exchange has a capital market agreement with the London Stock Exchange aimed at promoting seamless cross-border access between Lagos and London markets to ultimately develop larger capital markets that enable capital formation for businesses and governments; create deeper liquidity pools and greater competitiveness for investors; as well as enhance capacity and promote diversity of investment products to meet the needs of a wide range of investors and issuers.
"On the significance of the visit by the UK Prime Minister, Onyema expressed that "the capital market is a noteworthy indicator of any economy. It was hence not astounding that Prime Minister May
dispensed some time from her schedule to meet with capital market administrators. The networking event has likewise in participation some UK organizations that may be occupied with our market. The visit was certain and a decent acknowledgment for the Nigerian capital market".
Onyema additionally opined that as the world is getting ready for the fourth industrial revolution, the Nigerian capital market must prepared itself to contend all around.
He said "the capital market like numerous areas is being affected by technology. The World Bank has simply issued bond-i its first blockchain worked bond and we have seen the development of cryptocurrencies among innovations.
"On our part at the Exchange, we have conveyed Artificial Intelligence to screen exercises in our market. This has even turned out to be basic as we look set to demutualize and present more modern items, for example, derivatives."
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