Tinuade Awe
Tinuade Awe, an Executive Director at the Nigerian Stock Exchange

The Nigerian Stock Exchange yesterday disclosed that it has commenced talks with  Skyway Aviation Handling Company Limited (SAHCOL) and one unnamed financial technology company, with the hope of having them listed on the exchange.

This move is in fulfillment of the NSE’s commitment towards deepening the country’s capital market through the provision of enough liquidity.

Tinuade Awe, an Executive Director at the Nigerian Stock Exchange, said this during an interview with Business Day at the 9th annual Pan-African investor conference which was organised by Renaissance Capital in Lagos.

In her words:

Apart from the fact that we are working closely to see that the MTN Nigeria listing be successful, we have also started having some engagement with SAHCOL and a Fintech company to ensure that we bring the companies to the market.-Tinuade Awe

Awe, who refused to disclose the identity of the Fintech due to the fact that she was not at liberty to do that, however, stated that the NSE is “creating something we call the growth board and the idea of this board is to have companies that may not yet be where they need to be organisationally but we are working with them so they can be able to come to the market.”

On why the NSE is in talks with these companies…

As Awe stated, the major reason why the NSE is interested in having SAHCOL and the unnamed financial technology firm listed on the exchange is so as to deepen the Nigerian bourse by ensuring liquidity. This is important because an increase in the number of firms listed on the exchange leads to increased liquidity, even as shareholders are availed more options as to which shares to buy and sell.

Recall that the Nigerian Stock Exchange had in recent times taken steps aimed at making the market better for all. First, it announced ongoing plans to automate all IPOs and other public offers which will, among other things help to ensure transparency and speed. Prior to this time, it had also launched the  E-Dividend Mandate Management System, a platform intended to ensure that dividend payments are made directly to investors’ accounts.

Emmanuel studied at the University of Ibadan and has a B.A in Philosophy as well as an MSc in Political Science/International Relations. He has held different positions in Media, Administration, and Nonprofit. He writes on small businesses, startups, and corporate stories.

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