The Nigerian Stock Exchange has lent its voice to the promotion of social distancing as a necessary step in flattening the COVID-19 curve in Nigeria. This advice was shared in a recently released video voiced by ace musician Tuface Idibia who is NSE’s Good Cause Ambassador.
It would be recalled that NSE activated its Business Continuity Plan (BCP) as early as January 18, 2020, with thermal testing of staff and visitors, provision of hand sanitizers and increased frequency of cleaning at its offices even before the index case was recorded in Nigeria on February 25, 2020. Through the BCP, NSE directed employees to work remotely from 24 March, while remote trading by brokers commenced on 25 March 2020.
In the released video, NSE emphasized its ability to sustain its full operations remotely, citing its investment in cutting edge technology and digital assets including cloud computing and artificial intelligence as enablers of its remote trading and working capabilities.
These investments have brought about notable innovations in The Exchange’s trading and operations. Leveraging platforms like the X-GEN, NSE has been able to deliver improved market order flow, increased number of trades, direct market access, remote trading through FIX, VPN and X-Net, and the advent of mobile trading technologies to retail and institutional investors.
Furthermore, the NSE has once again provided reassurance to Dealing Member Firms, Issuers and other capital market stakeholders that it is committed to operating business as usual and ensuring zero disruptions to its activities.
During this lockdown, The Exchange has continued to play its role in deepening capital market activity through listings and capacity building activities, as well creating an enabling business environment through regulatory guidance.
The highlight of the video is in The Exchange’s emphatic message on the importance of social distancing at this time and encourages Nigerians to continue to stay home and stay safe by observing all the precautions provided by relevant institutions.