Chief Executive Officer (CEO) of the Nigerian Stock Exchange (NSE), Oscar Onyema has said that promoting transparent disclosure would help listed companies gain access to long-term sustainable capital.
Speaking at a Capital Market Roundtable organised by one of Nigeria’s leading commercial law firms, Aluko & Oyebode in Lagos, where he led discussions around the theme: “Engendering an Effective Regulatory Landscape for Competition Law in Nigeria – Promoting a Fairer Market,” the NSE chief, expressed confidence that promoting transparent disclosure is a great way for listed companies to get long term sustainable capital.
“This would enable them and the private sector at large, effectively play a key role towards actualizing sustainable development goals,” he said.
The event, which was attended by over 50 stakeholders in the Nigerian capital market, touched on frontline issues in the economy, such as challenges relating to the administration of competition law in Nigeria and more specifically, the implementation of the recently enacted Federal Competition and Consumer Protection Act, 2019.
Speaking about the event, Olubunmi Fayokun noted that, deliberations from the roundtable discussions would shape the policy and practice of competition law in Nigeria.
In her words, “The new competition law will promote international best practice in the implementation of mergers and acquisitions in Nigeria, and ultimately lead to increased investor confidence.”
In his remarks, Daryl Dingley, Partner and head of Competition Practice at foremost South African law firm, Webber Wentzel said, “You need to be upfront and also understand the public interest consequences of your transaction; is it going to affect suppliers, employers or a particular sector of the economy?”
Discussions followed a panel session, where Babatunde Irukera, chief executive/director general of the Federal Competition and Consumer Protection Commission), Mfon Bassey, Deputy director, Securities and Exchange Commission, Olusola Carrena, Head of Corporate Finance, Stanbic IBTC Capital, Daryl Dingley; Eric Idiahi, Co-Founder/Partner, Verod Capital Management Limited and Ayodeji Oyetunde, Partner, Aluko & Oyebode addressed the issue of fairness in the capital market.
