NSE sustains remote trading despite FG easing lockdown

Nigerian Stock Exchange (NSE) sustained its remote trading on Monday May 4, despite the gradual easing of lockdown.

The Federal Government, as part of its ongoing efforts to reduce the socioeconomic impact of the Covid-19 pandemic in Nigeria gradually eases the initial 28-day lockdown in the Federal Capital Territory, Lagos and Ogun States.

“The Nigerian Stock Exchange will continue to support the Government’s directives and efforts in the fight against COVID-19 in Nigeria. In prioritising the health and safety of our stakeholders, we will keep monitoring the evolving impact of this pandemic and make decisions in the best interest of our employees and stakeholders at large”, said Oscar Onyema, CEO, NSE.

“We will maintain restricted access to our office facilities, including our trading floors across the country, and continue remote trading and business activities.

“Our employees will keep on working from home except for essential staff who will continue to work out of the office as they have been doing since we commenced remote trading in order to ensure that our operations run smoothly and provide support.

“We expect that you will continue to utilize all of our digital platforms at your disposal to trade remotely and engage with us. Further updates on our business continuity plans will be shared with our stakeholders in due course,” Onyema said

Federal Government directive entails a limit on all non-essential interstate travel, opening of businesses, markets and malls within designated hours, and a nationwide curfew between 8:00 p.m. and 6:00 a.m., except essential services.

“These are indeed challenging times for all of us, but we encourage you to stay positive and continue to act responsibly in line with the guidelines of the appropriate authorities. Rest assured that The Exchange is open for business remotely and will remain so through this pandemic. Should you need to engage with us on any matter, please reach out to us via e-mail, X-Issuer, X-Boss, X-Whistle, telephone, our website or any of our other digital and social platforms”, the Exchange said on Monday.

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By Iheanyi Nwachukwu • May 4, 2020

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.