NSE woos Diaspora investors to patronise Nigerian market

In line with its mandate of promoting and influencing the
economic growth and development in the country, the Nigerian
Stock Exchange (NSE) has concluded plans to organize the
first investor forum for Nigerians in the Diaspora.
The forum which is expected to take place on Monday,
January 19, 2015 at Hilton Zurich Airport Hotel, Switzerland, is
targeted at Nigerian Diaspora in Switzerland and across
Europe.
The Chief Executive Officer of The NSE, Mr. Oscar N. Onyema,
explained that the Exchange recognizes Nigerians in the
Diaspora as a rich resource with unlimited investment
potential.
“Diasporas present wonderful opportunity to help the
development of the Nigerian economy by investing through the
NSE, as they can help attract sufficient and stable access to
international investment. The main objective of the forum is to
facilitate portfolio investments and inspire Diaspora-led
investment for sustainable economic growth, by encouraging
the Diaspora to actively participate in investment efforts in the
Nigerian capital market”.
Onyema added that the forum will enable the Diasporas know
that there are attractive opportunities available in the Nigerian
stock market for them to make investments. “We have the
companies that can help grow wealth, as well as give local
businesses and owners the capital they need to continue this
growth”.
According to the Head, Corporate Services Division, NSE, Mr.
Bola Adeeko, the event is in collaboration with the Embassy of
Nigeria, Switzerland, Nigerians in Diaspora Organization
(NIDO) and Capital Bancorp Plc. He noted that the forum
which will be hosted as a side event to the 2015 World
Economic Forum (Davos), in Zurich, Switzerland, will provide a
platform for participants to constructively engage in capital
market issues and gain an in-depth understanding of capital
market investments options, challenges and opportunities.
Meanwhile, selloff in the Nigerian bourse continued yesterday
as the benchmark index closed negative to reverse the
marginal gain witnessed on Monday. The All Share Index (ASI)
dipped by 344.86 basis points to close at 29,889.86 points,
driving YTD losses to 13.8 per cent.
Similarly, market capitalization lost N114.2 billion to close at
N9.9 trillion. The drop according to analysts with Afrinvest
was on the back of the sell down witnessed in the Consumer
Goods and Banking stocks like Nigerian Breweries, GTBank ,
Nestle and Access .
Also, Market activity measured by volume and value traded
were not left out as investors exchanged a total of 307.9
million shares valued at N3.11 billion in 1,548 deals.