The Nigerian Stock Exchange was voted as a Federation member on October 28, 2014 during the 54th General Assembly and Annual Meeting of the World Federation of Exchanges in Seoul, South Korea. This move makes the NSE the third African stock exchange to be granted full Federation membership status.
The Nigerian Stock Exchange received undisputed vote for admission as a full member of the World Federation of Exchanges, the trade association for the operators of regulated financial exchanges.
The Chief Executive Officer, NSE, Mr. Oscar Onyema, said they are very proud that the NSE has been granted full World Federation of Exchanges membership status. This is a positive step towards its integration with global financial markets and exchanges.
They put in a lot of hard work, and they have cultivated excellence in their day-to-day operations, which has earned them this acknowledgment among their peers in the notable trade association.
The WFE membership status reflects the exchange’s dedication to implementing the highest standards of international best practices. Their aspiration is to become the foremost Stock Exchange in Africa, Onyema said.
The Nigerian Stock Exchange was commended on its new status by, Ms. Nicky Newton-King the Chief Executive Officer of the Johannesburg Stock Exchange and member of the Board of Directors at the WFE.
She said the membership has been a long road for the Nigerian exchange. The WFE Review Committee tasked with their application commends them for the attention they have paid to putting in place the regulatory and technological infrastructure necessary, both for the NSE to meet international values, as well as to position the Nigerian Stock Exchange for future development.
“It is this very important, concerted effort by the team over the last three years that earned them the recommendation. We welcome them on board” she said.