The Nigerian Stock Exchange (“NSE”) on Wednesday, September 12, 2017 organised an Investor Clinic which took place at the Stock Exchange House, Lagos. The investor clinic was to educate capital market stakeholders.
It was targeted at sensitizing the investing public and brokerage community of contemporary initiatives in the market. This event themed ‘The role of Dematerialization, Direct Cash Settlement and E-dividend in the development of the Nigerian Capital Market’ is to educate capital market stakeholders on importance of dematerialisation to ensure market velocity and integrity.
This edition of the NSE Investor Clinic shed light on the importance of dematerialisation as a necessity in the trading of shares. Participants were also made to understand the advantages of direct cash settlement and e-dividend processing in the consolidation of returns on their equity investment as well as the overall benefits to the Nigerian Capital Market.
Speaking at the event, the Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said “the NSE Investor Clinic brings to the fore the importance of dematerialisation in ensuring improved market velocity and integrity as well as the role of direct cash settlement in enhancing investor confidence by ensuring that proceeds from the sale of securities are remitted directly into investors’ accounts”. He stressed the importance of e-dividend in not only reducing the issue of unclaimed dividend growth, but in ensuring that investors derive the full benefits of their investments by having their dividends paid directly into their bank accounts as soon as these are disbursed by issuers, regardless of whether these are savings or current accounts.
He added that “we are committed to improving overall financial literacy and inclusion in the country, and ensuring we implement efficient processes that provide investors easy and intuitive access to grow their wealth”.
Over 200 participants attended the NSE Investor Clinic which had seasoned and certified subject matter experts, such as Mr. Henry Rowlands, Director, Capital Market Development, Securities and Exchange Commission; Mr. Seyi Owoturo, CEO, United Securities Limited and Mr Kenneth Nwafor, Operations Manager, Market Operations NSE as facilitators.
The Exchange on June 1, 2017, had launched X-Academy, its financial literacy and inclusion platform designed to provide education services to individual, corporate and government institutions who want to gain a better understanding of the various aspects of the capital markets and also improve overall corporate governance within their respective institutions.
X- Academy offers a wide range of courses geared towards bridging the knowledge gap of investors and issuers about products and services of the capital market. It is also a platform to enhance financial literacy and inclusion and build on our track record of pushing the boundaries of financial education in Nigeria across all segments of investors.