NSE reports 47% growth in total income

The Nigerian Stock Exchange (NSE) has recorded a 47.17 per cent growth in total income for the financial year ended December 31, 2014. The Exchange in an annual report obtained by New Telegraph, said its total income grew to N7.950 billion in 2014 as against N5.401 billion recorded during the corresponding year of 2013. This represented a growth of 47.7 per cent. Its revenue stood at N6.533 billion from N4.576 billion reported in 2013, accounting for 4.76 per cent increase.

The Chief Executive Officer of the NSE, Mr. Oscar Onyema said the Exchange plans to focus on strengthening relationship with key stakeholders and ensuring effective compliance with relevant laws, SEC regulations, and safeguarding the Exchange’s reputation and strategic objectives. He noted that the Exchange recently implemented a compliance framework, which outlines the regulatory environment within which the Exchange operates and manages its compliance policies. Additionally, he said the framework sets out expectations of each employee with regards to complying with set policies, procedures and code of ethics of the Exchange, both in an individual capacity and at the corporate level. He noted that implementation of the Compliance Framework will be one of ERM’s objectives for the year adding that ERM programme continues to evolve as Exchange enhance its risk management capabilities to ensure that it maintain its trajectory while protecting the value of its business.

He said: “We have made good progress on embedding risk into every process and all activities at the Exchange and plan on conducting focused training on key risk issues with an aim to enhancing the Exchange’s risk capability, risk culture, realisation of its strategic objectives, and increasing its operational efficiency. “This year we will be introducing barometers for enhancing our overall risk maturity, for instance, the degree to which management decision-making has a risk component attached to it, and the depth to which risk awareness is ‘embedded’ or ‘systematised’ in the day-to-day operations at the Exchange. “Finally, The Nigerian Stock Exchange recognises that maintaining and continually enhancing our risk management capabilities will be crucial in the months ahead, as we aim to successfully implement our strategic objectives and efficiently weather the current economic uncertainties