Bloomberg News

Nigeria Bourse to List Five Exchange-Traded Funds This Year

March 20, 2013

The Nigerian Stock Exchange plans to list five exchange-traded funds this year to increase products available to investors, Chief Executive Officer Oscar Onyema said.

The bourse will also carry out research to prioritize the start of futures and options trading next year, with a goal of deepening the market, he said at a conference in Lagos, the commercial capital today.

The Lagos-based exchange will start a corporate governance index this year, which will “capture top companies” and encourage others to list, Onyema said. Regulations for listing on the Alternative Securities Market will also be reviewed this year to get more small and medium companies to list, he said.

The bourse is sub-Saharan Africa’s second-biggest after South Africa’s. The Nigerian Stock Exchange (NGSEINDX) All-Share Index has risen 18 percent this year.

To contact the reporters on this story: Emele Onu in Lagos at eonu1@bloomberg.net

Ambrose Akor in Lagos at aakor@bloomberg.net

To contact the editor responsible for this story: Vernon Wessels at vwessels@bloomberg.net


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