Oscar Onyema, chief executive officer of the Nigerian Stock Exchange (NSE) has asked investors in the Nigerian capital market not to despair because the current decline in the equity market would not live long. According to him, the effort to make Nigeria the capital market hub of Africa would soon be a reality. He said that investment opportunities abound in the country. He attributed the bearish nature of the exchange to the economic fundamental and decline in oil prices and asked investors remain optimistic about our market
He explained that the NSE is currently implementing “a more competitive price structure in conjunction with the regulator and other market participants, as well as intensify efforts towards developing a more sustainable market.”
Similarly, Aigboje Higo, managing director/Chief Executive Officer, Capital Bancorp Plc, stated that investors who had remained in the stock market post 2009 and invested wisely, have received competitive returns. Using statistical data and market records, Higo noted that many of the investors realised an average of over 50 per cent returns, while some realised above 200 per cent.
He also highlighted some factors responsible for domestic investors’ apathy to the stock market as loss in value of investment, loss of investment, sharp practices among some operators, ineffective regulators, perception that the market was not fair, bottlenecks associated with the payment of dividend and bonus shares and lack of market liquidity.
By Dike Onwuamaeze