Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Market capitalisation of bonds reaches N5.82trn

29 January 2013, 16:25

Lagos - Mr Oscar Onyema, the Chief Executive of Nigerian Stock Exchange (NSE), on Tuesday said market capitalisation of bonds on the Exchange stood at N5.82 trillion in 2012.

Onyema disclosed this at the NSE’s Retail Bonds Trading and Fixed Income Market Making Practicum in Lagos.

He said that the figure represented an increase of 55.6 per cent over the N3.74 trillion recorded in 2011.

According to him, the revival of the Federal Government bonds has spurred state governments’ participation in the bond market for funding of capital projects.

The NSE chief executive said that "the figure is likely to grow further in the years ahead because of the nation's need for infrastructural development."

He said that the International Finance Corporation (IFC), an investment arm of the World Bank, had also announced plans to issue a bond on the NSE.

Onyema said that the bond would be the first foreign bond to be issued on the NSE.

He said that the retail bond market was being set up to complement the structure of the Over-the-Counter (OTC) bond trading and to increase retail participation in bond investment.

On the retail bond market scheduled to be launched on Feb. 1, he said that the practicum was organised to acquaint stakeholders on the structure and processes.

Mr Dipo Omotoso, the Head, Product Management of NSE, said that the practicum would facilitate trading on listed debt instruments issued by the Federal and State Governments as well as corporations.

Omotoso said that it would offer a more transparent pattern for bond trading and enhanced efficient price discovery.

He said that it would also deepen the market and ensure enhanced portfolio diversification and management.

The News Agency of Nigeria (NAN) recalled that the Exchange, had on Jan. 15, unveiled six market makers for bond trading.

The market markers are Capital Bancorp, DunnLoren Merrifield, Greenwich Securities, Cordros Securities, FSDH Securities, and Investment One Financial Services Ltd.

NAN

Tags nse
NEXT ON NEWS24 NIGERIAX

Read News24’s Comments Policy

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Bakare Wale
We will support government that i...

The National Association of Nigerian Students from the office of the Vice President External Affairs, Com. Ogunkuade Oluwatosin has organized a press conference to celebrate the international students day. Read more...

Submitted by
Abdul Yusuf Abdul
Nigeria politics of dichotomy

There's one fundamental issues disturbing me in this country, if one is born in a particular locality, grew & did all schooling in particular domain. Read more...

Submitted by
Agbati Yusuf Bamidele
Effect of taking too much garri o...

Consumption of garri is as important as anything among the populace of West Africa like Togo, Nigeria, Benin Republic and others. Read more...

Speaker Tambuwal drops out ff pre...

Speaker of the House of Representatives, Aminu Tambuwal earlier dropped his presidential ambitions after consultations with All Progressives Congress chieftains. Read more...

Submitted by
Otunba Bright Jnr
Fayemi heads APC presidential con...

Fayemi heads APC presidential convention committee Former Governor of Ekiti State, Dr. Kayode Fayemi, was named chairman of the 24 member All Progressives Congress convention planning committee.  Read more...

Submitted by
SAMUEL UFOT EKEKERE
Let's sweep our world of challeng...

In sub-Saharan African where brooms are still part of everyday life, it is common place to find brooms being used as cleaning facilities. Read more...