The Nigerian Stock Exchange (NSE) has said it will continue to work remotely following the 14 days complete lockdown declared by the Federal Government.
The Chief Executive Officer of the NSE, Oscar Onyema, made the clarification, following the statement put out by the Minister of Finance, Budget and National Planning, and the Governor of Central Bank of Nigeria that they have received presidential approval to include the financial system and money markets in the list of exempted services from the Lagos and Ogun States and the FCT lockdown order.
Onyema said: “Given this new pronouncement, we will sustain our remote trading activities at normal hours and days, in line with the guidance provided by the World Federation of Exchanges.” He said to comply with government’s directive, The Exchange has activated the second phase of its business continuity plan that will see essential staff move into secured accommodation close to NSE offices with adequate arrangements for healthcare and other matters necessary to their wellbeing.
“Access to our offices will be restricted to these essential staff that will ensure smooth remote trading and provide remote technical support to Dealing Members. We will also continue to provide remote access to listed companies and issuers during this period”, Onyema clarified.
He said should any stakeholder need to engage with the exchange on any matter, they can reach out via e-mail, X-Issuer, X-Boss, X-Whistle, telephone, website or any of its other digital and social platforms. Daily Trust reports that since the outbreak of the COVID-19 pandemic, financial markets, particularly the capital markets around the world, have seen levels of volatility that are only comparable to the global financial crisis of 2007/2008.
