Lagos – Alhaji Aliko Dangote, President of the Nigerian Stock Exchange (NSE), on Friday projected an increase in the number of trade-able securities on the nation's bourse in 2013.
Dangote made the projection at the 51st Annual General Meeting (AGM) of NSE in Lagos.
He said that council was discussing with the Federal Government on the possibility of listing some of the privatised companies.
He also assured shareholders of the council's determination to persuade the Federal Government to list part of its 49 per cent holdings in some of the privatised power sector companies.
Dangote said that the management of the Exchange was equally wooing some companies to seek quotation and enable investors to increase their choice of trade-able stocks.
The NSE president said that the Exchange had strengthened its strategy to restore investor confidence and stability in the market.
"We will keep encouraging Nigerians to keep investing in the market through market initiatives targeted at confidence building and when confidence is restored, Nigerians will come back to the market," he said.
According to him, the NSE council members will continue to work to further the interests of the Exchange and protect the capital market.
On the dominance of foreign investors, Dangote said that the market is "interconnected and harbours both foreign and local investors".
"Anyone has the right to enter and exit; we want foreign investors to invest more because it is a sign of confidence in our market," Dangote said.
He, however, assured investors that the Exchange would be mindful of "hot money" to avoid a repeat of the recent experience.
Earlier, Mr Albert Okumagba, Chairman, BGL Group, said that the NSE, as a regulatory agency, should lead by example by holding meetings promptly.
Okumagba said that holding the AGM in September for Dec.31, 2011 accounts did not portray good corporate governance being championed by the Exchange.
He also said that the market making activities would impact positively on the operations of the Exchange and the market in general if well pursued. (NAN)
