Determined to deepen the market, attract more retail and institutional investors and grow income at post COVID-19 pandemic era, the Management of NASD OTC PLC,, has identified some key activities that will shape the Company’s operation in the second half of the year.
NASD, whose Management is committed to the company’s values of providing liquidity and ensuring price discovery and transparency, noted that COVID-19 had pushed people to change behaviour to embrace the new normal. The Managing Director and Chief Executive Officer, Mr Bola Ajomale, who spoke on a recent Webinar, organized by the company with the Theme: “ New World , New Market ”, reviewed NASD’s activities in the first half of the year and explained that some events would dominate the second half.
“We are prepared to trade The Nigerian Stock Exchange’s shares on NASD OTC, on-board dealer category and launch Venture Ramp which is currently open to donors. We are also set to introduce three new instruments to the market and inaugurate our new trading platform. At the regulatory level, we expect approval of rules for investment in Crowdfunding and Commercial Paper from the Securities and Exchange Commission (SEC ) ”, said Ajomale.
Ajomale, who spoke extensively on the performance indicators of NASD, affirmed that COVID-19 had brought disruption across all facets of activities and every organization should review its business model to align with the new world and new market. According to him, the new normal entails decentralization of knowledge.
“There will be significant growth in e-sports, delivery services, remote functions, e-ceremonies, webinars, e-trading, deployment of more data and change in time management. Knowledge jobs will continue to decentralize while supply support jobs will follow. But Consumer footfall will remain low in the entertainment and leisure industry”, Ajomale said.
The Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Chief Onyenwechukwu Ezeagu, explained the role of government in positioning the economy to lessen negative impacts of COVID-19 pandemic on economic activities.
“The policy directive of the government should be geared towards aggressive economic diversification agenda. This is the way to go, coupled with consistency of purpose. The fiscal and monetary policy initiatives must be expansionary in planing and execution to target job creation, among others. The private sector must dovetail to complement government effort to give the economy the muscle to fight the looming economic headwinds”, said Ezeagu.
NASD organized the Webinar as part of market development to provide relevant information on its activities and create a platform for sharing ideas on economic issues that can impact the financial market.