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
Kareem Taofiq
This is unfear

It was confirmed that, after the most peaceful rally recorded by JOBA campaign team some members of team JOBA and APC were attacked. Read more...

Submitted by
Peregrino Brimah
My Letter to the Cabal: Game Up

It is time for you to give up. It is time for you to abandon ship. Dear unscrupulous cabal, enough has surely been enough. Read more...

Submitted by
Idiake Destiny718
The media and how it moulds the w...

Television, radio, movies, the Internet and print extend their influence upon our culture, our behavior and our brains! What is behind the powerful force of modern media? Read more...

Submitted by
Peregrino Brimah
Jonathan’s 6-week war blunder and...

Jonathan's comments about Boko Haram have led some to believe that the terrorism activities have simply been paused not stopped. Read more...

Submitted by
Samson Eruvwavwe
Delta State entrepreneurship maki...

Members of 3-week Entrepreneurship/Interlocking Making Training (E.I.M.T) by the Forum of Delta State Local Government Transition Committee Chairmen have called for a protest. Read more...

Submitted by
Martin Beck Nworah
Touch no man's candle

Let posterity decide who gave in the very best and who sacrificed the most to see that our world becomes a better place to live in. Read more...