In order toTo educate shareholders and other members of the capital market community, the Nigerian Stock Exchange (NSE) has advised quoted firms to take advantage of the opportunities provided by the ‘Fact Behind The Figure’ Programmes.
This, NSE Chief Executive Officer, Oscar Onyema, said will allow quoted companies to raise the quality of their investor relations programmes including disclosing information about their operations to stock market stakeholders on a regular basis.
Onyema affirmed that it will be difficult for stockbrokers to adequately price stock if they do not have adequate information about the company.
He stated that, “Without timely and adequate information, financial journalists and analysts alike will be unable to appropriately represent the company in their write-ups and analyses. More importantly, rational investors will find it difficult to invest in a company they do not have adequate information about. These and a lot more reasons make it imperative for companies listed on our bourse to take part actively in managing investor relations.”
The CEO of the Lagos bourse stressed that if Nigeria is to become the gateway to African markets, then, “The NSE will continue to consistently enforce its rules on Corporate Governance in a firm and fair manner in order to build a strong investment climate for market participants.”
Placing corporate Governance at the front burner will maximise shareholder returns and ensure a sound investment environment.
Meanwhile, the NSE has reveal plans to unveil a new index to track the performance of industrial goods sector by January 2014.