The Nigerian Stock Exchange (NSE) on Tuesday, March 26, 2013, introduced into the Nigerian capital market the first ever Issuers’ Portal known as the X-Issuer.
The X-Issuer is a secure online portal through which issuers will submit financial and other information to the NSE and the market from the comfort of their respective offices. According to the Chief Executive of the NSE, Mr. Oscar Onyema, the Issuers’ Portal, a key regulatory initiative of the NSE, will entrench structure and control in the submission and dissemination of company information. It will provide an unparalleled opportunity to significantly reduce information leakage and eliminate delays associated with the discharge of issuers’ post-listings obligations in a cost-effective and efficient manner. Furthermore, he stated that “we are positive that this initiative will encourage accountability, we also believe that it will positively impact activities in your issues as international and local investors, and analysts shall be better able to evaluate your data in an accurate, timely and cost effective manner.” Undoubtedly, the X-Issuer will no doubt result in greater market integrity and participation.
It is hoped that the X-Issuer facilitates the efforts of the present leadership of the NSE in achieving the goal of transforming the Nigerian capital market and ensures the creation of companies that will be the “African Champions” of tomorrow.