THE Nigerian Stock Exchange, NSE, has expressed concern for corporate governance and tax reforms that affects quoted entities on the Nigerian Stock Exchange, NSE.
Executive Director, Regulation of the NSE, Ms Tinuade Awe, expressed this concern in Lagos, saying that the Exchange remained committed to partnering with quoted companies as stakeholders in the market ecosystem.
She said: “The Exchange aggregates all issues affecting quoted companies, including corporate governance and tax reform and play pivotal role to ensure smooth operation of the companies.”
She commended all the companies that come to the Exchange to brief the market about their performance, while commending their resilience despite the tough operating climate.
The floor of Stock exchange
Meanwhile, speaking during the Vanguard Economic Forum Series, with the theme: “Nigeria’s Emerging Digital Economy And The Role Of Financial Technology,” Awe said that technology has among other things, enabled NSE to pro-actively monitor market manipulation (including spoofing and layering), detect and deter manipulative tendencies, gather intelligence, carry out traders’ monitoring and analysis, conduct multi-asset and cross-market surveillance, and execute risk-based supervision of flagged participants.
She added: “As we enter the growth phase of the development of our market, including the introduction of new asset classes such as derivatives, there will be the imperative of processing significant volumes of market information in real-time to detect anomalies.
Manufacturers’ inventory up 255% in one year
“So we encourage quoted companies to key into the Fintech eco-system. We will consistently engage stakeholders to promote home-made innovative Fintech solutions, which would impact positively on the economy and the market.”
Awe said the Exchange was ready to partner with quoted companies to grow the Fintech ecosystem, the market, and the economy.