NSE Stakeholders call for investment boosting partnerships via technology

Kindly Share This Story:

Financial market stakeholders on Tuesday called for enhanced partnership between the government, regulators and operators to leverage on technology in order to drive investment.

Speaking at the Nigerian Stock Exchange (NSE) — Bloomberg CEO roundtable in Lagos, the stakeholders said Nigeria could leverage on the benefits of the fourth industrial revolution (4IR) through total collaboration.

They said that all stakeholders needed to work together in ensuring that the country used technology to solve financial and industrial problems.

The Fourth Industrial Revolution is characterised by a fusion of technologies that is blurring the lines between the physical, digital, and biological spheres, collectively referred to as cyber-physical systems. It is the fourth major industrial era since the initial Industrial Revolution of the 18th century.

Mr. Oscar Onyema, NSE Chief Executive Officer stated that most of the world’s developed economies had begun to adapt to the Fourth Industrial Revolution, noting that Nigeria should not be left out.

He opined that there was need for an economic turnaround framework that would support industrial revolution to position the nation’s economy for sustained growth.

The opportunity the Fourth Industrial Revolution presents is unlike any other, as the barriers to entry are low, with an upside that is vast and yet to be quantified.

“At the Exchange, we consider ourselves to be a forward-thinking securities
exchange, and have since begun the advancement of our offerings with the assistance of technology,”
 Onyema said.

Mr. Onyema added that the exchange had embraced cloud-based technologies by building its own Data Centre to provide a number of services ranging from cloud computing, storage and database offering and networking, among others.

Ms Patience Oniha, Director-General, Debt Management Office (DMO), said that technology was paramount in driving financial inclusion initative.

Oniha, represented by Mr Oladele Afolabi, DMO Director, Portfolio Management, said the organisation is using technology to ensure full participation of investors in the savings bond. Adding that investors now invest in the savings bond in the comfort of their homes from their mobile phones and personal computers.

Oniha said the DMO was working with technology experts to make investment easy, noting that challenges experienced during issuance in the past would not repeat itself.

Mr Shola Akinlade, Chief Executive Officer, Paystack, said that infrastructure and human capital development was very crucial to tap into industrial revolution.

Akinlade said that government and stakeholders needed to invest in human capital to solve the country’s infrastructure problem.

He said that finding the right people was key to industrial revolution.

“If we increase literacy level of everybody in Nigeria to generate income, it will be easier to tackle infrastructure challenges,” he said.

Mr Jubril Enakele, Chief Executive Officer, Zenith Capital Plc, said that Nigeria needed policy framework to guide and safeguard innovation.

Enakele said the country needs to wake up from its slumber by introducing alternative asset classes such as crytocurrencies and block chain, among others.

The roundtable was themed: Reshaping the Nigerian Economy for suitable growth: Leveraging on the fourth industrial revolution as a catalyst for advancement.


Kindly Share This Story:

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

amehnews greetings

x
%d bloggers like this: