NSE mutualisation: Operators call for transparency

Operators in the capital market have tasked the management of the Nigerian Stock Exchange to show more transparency in the Exchange’s ongoing mutualisation process.
According to them, there must be proper awareness to what mutualisation means to a layman and to a new investor.
They added that the process of demutualising the exchange played a major role in determining the future of the nation’s exchange as well as the entire economy.
A stockbroker, Mr. Johnson Ekhine, explained that transparency was part of good corporate governance. “When a stock exchange is noted for its corporate governance, even transparency international will sport them, and the international investment community would see the market as investment haven. It will attract foreign investment,” he said.
The Chairman, Progressive Shareholders Association of Nigeria, Mr. Boniface Okezie, called on the operators seeking to demutualise the exchange to ensure that the process was not hijacked by politicians.
A financial analyst, Mr. Mike Ibezim, said the capital market had yet to sensitise the local investing public on what demutualisation entailed, in order to carry everybody along.
He said, “The people should know what demutualisation means and how it will benefit them. They should also know who to hold responsible in case of default and sanction.”