Nigeria Computer Society pays courtesy visit to Nigerian Stock Exchange
A team from the Nigeria Computer Society led by its President, Sir Demola Aladekomo on Wednesday, February 22, 2012 paid a courtesy visit to the Nigerian Stock Exchange (NSE). The leadership of NSE led by the CEO, Mr. Oscar Onyema and other members of the management team that included the Head of the Corporate Division, Mr. Bola Adeeko and Olumide Lala, Deputy General Manager & Head Transformation & Change warmly welcomed the NCS team.
The NCS team included Mrs. Florence Seriki, President ITAN; Mr. John Tani Obaro, MD/CEO, SystemSpecs Limited; Mr. Andy Nwani, Managing Director, Dataflex; Mr. Babatunde Dada, Chief Finance Officer, MainOne Company; Mr. Chinedu Onuoha, Executive Secretary of NCS and Jide Awe, Chairman, Publicity and Events Committee of NCS.
Aladekomo welcomed the new leadership of NSE and noted the tireless efforts of the NSE management team in laying the right foundation for the growth and development of the NSE and the capital market. On behalf of NCS he commended the Exchange on its enhancement of its technology infrastructure which significantly reduced wastage and improved performance of the exchange’s operations and services. He wished the NSE success in the development of your new trading platform and supporting technology infrastructure. In his words, “We trust that the dynamic team at NSE will successful reform the market and accelerate Nigeria’s economic development and we look forward to a mutually rewarding working relationship between you, Nigerian Stock Exchange and Nigeria Computer Society”.
The NCS President further highlighted NCS areas of focus and intervention areas including Employment Creation through IT, IT in Security, Engaging in strategic partnership with government agencies for job creation and improved governance, introducing ICT job fairs and Facilitate SME financing/funding plans for individual and corporate members by creating an IT VENTURE CAPITAL.
In his address, Aladekomo noted that top contributors in the IT industry and community, all finalists for the IT Personality Award the most celebrated in the IT field for their excellence are all these companies are great candidates for listing on the exchange.
He called on NSE IT staff to fully join the Nigeria Computer Society and share their experiences in developing the larger Information Technology community, while inviting the Nigerian Stock Exchange to engage with NCS in strategic partnerships in programs and projects, such as the NCS 2012 Annual Conference targeted on the Cashless program of the Central Bank of Nigeria (CBN).
He in particular enjoined NSE to be involved in facilitating SME financing/funding plans for IT companies by supporting the IT VENTURE CAPITAL, initiative of NCS. While commending NSE on the role it is playing in using technology to develop the capital market, he invited NSE to become a corporate member of NCS and take a leadership role in NCS, especially in view of its creative IT driven leadership.
Nigerian Stock Exchange Response
In his response, Onyema was excited that NCS wanted to partner with NSE as they had been speaking with companies about listing. According to him the exchange was already providing qualitative standards for ASeM, as listing standards had been made easy for small-to-medium enterprises to come to the market to access funds. He noted that the exchange is offering listed companies value-added services aimed at ensuring all companies realize the value of a listing, to make the listing experience valuable and pleasant.
He supports the Employment generation initiative of the NCS and IT security is attracting the attention of NSE. According to the NSE CEO, the exchange takes security very seriously and already has access standards in place and plans to initiate tighter processes.
Onyeama further informed the NCS team that next trading application system from NASDAQ should be in place by 2013. The exchange welcomes inputs from NCS especially in hardware. He commended NCS partnership with government agencies, stating that the exchange is ready to support SME funding through the ASeM platform. The CEO promised to encourage relevant NCS personnel to join NCS and stated that the exchange will consider the request to become a corporate member of NCS by examining the value proposition offered and will spread and share information with the broker dealer community on the benefits of IT and partnering with NCS, and supports relevant NCS initiatives in these areas.
He requested for material on the Annual NCS 2012 Conference to determine the nature of participation.
In concluding Onyeama thanked NCS for the initiative in coming for the visit stating that NSE is open to creative ideas and suggestions from NCS on how to move the market forward, while noting that ICT is one of the key sectors that NSE is targeting. He stressed that the exchange’s interest in ICT was not just telecom but technology. Since ICT presently contributes 5% to GDP and 0.7% of market capitalization there is immense opportunity for growth.