{"id":34978,"date":"2019-09-30T12:31:42","date_gmt":"2019-09-30T11:31:42","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=34978"},"modified":"2019-09-30T18:33:20","modified_gmt":"2019-09-30T17:33:20","slug":"demutualise-nse-to-be-place-at-59th-agm","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/demutualise-nse-to-be-place-at-59th-agm\/","title":{"rendered":"Demutualise NSE To Be In Place At 59th AGM"},"content":{"rendered":"

The Nigerian Stock Exchange (NSE) plans to have a demutualised Exchange may be coming to fruition, as a demutualised stock market may be in place by 59th<\/sup> Annual General Meeting of the NSE.<\/p>\n

The President and Chairman of council of the NSE, Otunba Abimbola Ogunbanjo made this remark on Monday at the Exchange\u2019s 58th<\/sup> AGM.<\/p>\n

Demutualisation is a process that changes a mutual or co-operative association into a public company by converting the interests of the members into shareholdings. These holdings can then be traded like the shares of a company. The idea is to change the structure of exchanges that were originally formed as trusts.<\/p>\n

According to Otunba Ogunbanjo, the NSE will amongst others capitalize on milestones achieved thus far while continuing to execute on their 2018-2021 strategy, which is focused on customer centricity, market development and innovation.<\/p>\n

He said, \u201cmay it be the last meeting as a mutual entity\u201d. Adding that \u201cwe are currently at the approval stages of our growth board, a new marketplace to address the growing needs of start-ups, provide exit opportunities for investors and reduce the cost of funding\u201d.<\/p>\n

\u201cIn line with our desire to increase financial inclusion and unlock dormant capital for economic growth and development, we intend to intensify our promotion of the growth and development of the Islamic Finance industry within the Nigerian capital markets\u201d. Pointing out that the NSE will continue to intensify efforts with stakeholders to on-board new financial instruments and maximize organizational value.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

On his part the chief executive officer of NSE, Oscar Onyema said \u201cbuilding on the momentum we have gained thus far, we will strive to finalize our demutualization process, boost our fixed income market segment and establish our exchange traded derivatives market\u201d.<\/p>\n

In order to properly serve its customers, Onyema explained that \u201cwe intend to measure our brand awareness and perception, which will inform our communications and engagement initiatives as we position the NSE group as a strong, trusted and credible brand\u201d<\/p>\n

While assuring that \u201cwe are confident that pursuing these initiatives in 2019 will boost the competiveness of the NSE at a time when the Nigerian capital market is at an inflection point. To enable us succeed, we are investing heavily in our human and technology resources to make doing business easier for our people\u201d<\/p>\n

Noting that \u201cour highly capable and experienced management team remain focused on the opportunities ahead, to deliver the financial targets we have set, while at the same time continuing to meet the needs and demands of investors and the capital market at large\u201d.<\/p>\n

Photo Caption: From Left–Mrs. Fatimah Bintah Bello\u2013Ismail\u200b, National Council Member, The Nigerian Stock Exchange (NSE); Mr. Aigboje Aig-Imoukhuede, CON, Ex-Officio, NSE; Mr. Oscar N. Onyema, OON, Chief Executive Officer, NSE;  Otunba Abimbola Ogunbanjo, President of the National Council, NSE and Mrs. Mojisola Adeola, Secretary to the Council, NSE during the Annual General Meeting (AGM) at the Exchange today in Lagos.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The Nigerian Stock Exchange (NSE) plans to have a demutualised Exchange may be coming to fruition, as a demutualised stock market may be in place by 59th Annual General Meeting of the NSE. The President and Chairman of council of the NSE, Otunba Abimbola Ogunbanjo made this remark on Monday at the Exchange\u2019s 58th AGM. …<\/p>\n","protected":false},"author":6,"featured_media":34996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,1593,17,624],"tags":[6223],"coauthors":[2391],"class_list":["post-34978","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-metro","category-news","category-politics","tag-demutualise-nse"],"yoast_head":"\nDemutualise NSE To Be In Place At 59th AGM - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/demutualise-nse-to-be-place-at-59th-agm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Demutualise NSE To Be In Place At 59th AGM - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Nigerian Stock Exchange (NSE) plans to have a demutualised Exchange may be coming to fruition, as a demutualised stock market may be in place by 59th Annual General Meeting of the NSE. 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