Stock exchange boss calls for Sovereign Wealth Fund

Channels Television  
Updated May 7, 2012

The Nigerian Stock Exchange (NSE) can benefit from Nigeria’s Sovereign Wealth Fund (SWF) as access to it can help deepen and create stability at the market.

This was part of the submission of the CEO of the NSE, Mr Oscar Onyema today at the House of Representatives ad-hoc committee probe of the capital market.

According to him, contrary to widespread belief, the stock market is big enough to absorb the listing of large companies.

He noted that the market is deep enough to absorb the fund and it will serve as a major boost to investor’s confidence.

“The NSE recognises the benefit of the Sovereign Wealth Fund to the health of the Nigerian economy…..and the fund can help allay the fears of sceptics about the market.”

A raging battle is on-going between the governors’ forum and the federal government over the establishment of the SWF to save for rainy days, a move the governors are totally against.