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NSE recorded N29.07 billion total assets in 2018
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NSE recorded N29.07 billion total assets in 2018



[Image: Nigerian_Stock_Exchange_7D_0098-e1486334799823.jpg][FILES] Nigerian Stock Exchange (NSE)
The Nigerian Stock Exchange (NSE) has increased its total assets to N29.07 billion in its 2018, against N26.69 billion recorded in the corresponding period in 2017.
 
Specifically, the Exchanges financial performance for the year ended, December 31, 2018, showed that total assets grew from N26.69 billion in 2017 to N29.07 billion during the year under review.
   
However, the year 2018 ended with an eight per cent decline in group revenues to N7.67 billion.


   
Speaking at the 58th Annual General Meeting (AGM), in Lagos Monday, the Chief Executive Officer of the NSE, Oscar Onyema, attributed the decline to uncertainty, as investors sought towards more guaranteed investment asset classes.
   
Onyema added that the listing revenue stream was the most impacted with a drop of 21 per cent to N1.4 billion during the period in review.
   
He said transaction fees influenced by the capital market trends within the period, declined to N3 .3 billion during the period under review.
   
According to him, the Exchange witnessed a 47.6 per cent increase in foreign outflows of N642.65 billion compared with N435.31 billion in the corresponding period of 2017.
   
He attributed the development to flight to quality by foreign investors to higher-yielding assets with lower risks in developed countries.
   
Onyema noted that this was intensified by the political risks associated with the Nigerian presidential elections, noting that the Federal Government during the period borrowed N1.2 trillion to finance fiscal and infrastructure deficits.


Onyema added that state governments and other corporates also raised a total of N157 billion from NSE during the period under review.
 
“We believe this level of activity validates our position as a competitive capital-raising platform for both business and government issuers to finance various economic activities.
   
In the 2019 outlook, he explained that NSE’s future revenues and net income would continue to be influenced by key domestic and international market forces such as pricing, product features and regulatory changes.
   
Onyema said that it would strive to finalise the Exchange demutualusation process, boost the fixed income market segment and establish its exchange-traded derivatives market.
 
“In order to properly serve our customers, we intend to measure our brand awareness and perception, which will inform our communications and engagement initiatives.

“We are confident that pursuing these initiatives in 2019 will boost the competitiveness of the NSE at a time when the Nigerian capital market is at an inflection point,” he said.
   
The President, National Council, NSE, Abimbola Ogunbanjo, said the Exchange maintained a focus on transforming and reforming the market to be more efficient during the period under review.
   
According to Ogunbanjo, the NSE will amongst other priorities, consolidate on milestones achieved so far while executing on their 2018-2021 strategy, which is focused on customer centricity, market development, and innovation.
   
“We 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.
 
“In 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.”

He pointing out that the NSE will continue to intensify efforts with stakeholders to develop new financial instruments and maximise organisational value.
 
Ogunbanjo noted that throughout the year, the Exchange also focused on transforming and reforming the market to be more efficient.
   
He further said: “We expanded our focus on retail investor activity and in positioning the Exchange to deploy innovation to be agile, offering smart products and services.
   
“In 2018, we witnessed the Debt Management Office (DMO), list the pioneer N10.69 billion Federal Government of Nigeria (FGN) Sovereign Green Bond, and a N100 billion FGN ljarah Sukuk Bond. This further asserted our aspiration, as the platform for both the public and private sector to raise and to access capital, encouraging financial inclusion.”
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