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NBCC Identifies Benefits Of NSE, LSE Partnership To Economy


Nigerian-BritishChamber of Commerce (NBCC) has lauded the new partnership between the Nigerian- Stock Exchange (NSE) and London- Stock of Exchange (LSE) which promised tobecome major access to capital investment for Nigeria and Britain.

The NBCC President, Prince Adeyemi Adefulu made this known at the Chamber’s Breakfast Meeting in Lagos over the weekend.PrinceAdefulu described the opportunities between Nigeria and Britain as enormouswhich he said was untapped. Hesaid the new partisanship between NSE and LSE will soon become one of thebiggest accesses to capital investment in the country. Hesaid Nigeria was set to play a significant role in British public and corporatelives. “TheLSE and NSE tie-in can only help the healthy progression. It strikes a rightcord with the NBCC vision as the kind of policy initiative which will releasethe untapped energy between Nigeria and Britain,” the NBCC boss stated. Deliveringa paper titled: “The Nigerian/London Stock Exchange Collaboration: Unveiling aTrans-Atlantic Partnership for Economic Development,” the President NigerianStock Exchange, Aigboje Aig-Imoukhuede explained the partnership between NSEand LSE will increase openness in the capital market, improve markettransparency, strengthen regulatory environment and increase capital flow forinvestment between Nigeria and Britain. Aig-Imoukhuedewho noted that LSE market capitalisation stood at $6 trillion as at January2015 said the “partnership will open up Nigeria for foreign investment” andenhance Nigeria’s access to capital investment. He said the relationship with LSE wasimportant to Nigeria because of the nation’s long time tie with Britain, addingthat the NSE has got so much to learn from LSE, for instance its corporategovernance which is very strong.TheNSE boss expressed satisfaction with the rate at which companies listed on theNigerian Stock Exchange pay tax. He therefore encouraged Telecom companies,LNG, mining firms etc. to get listed to further boost financial activities atthe market adding that he was not comfortable with enacting law to compel them.

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