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MTN Nigeria set to digitalise IPOs on Nigerian Stock Exchange

In recent time, the Nigerian financial sector has witnessed high technology adoption. The success of this initiative would be a game changer for the sector of Nigeria.

R: CEO/DG of Nigerian Stock Exchange (NSE), Mr Oscar Onyema has been leading the process of integrating information technology into the operations of the Nigerian bourse.

This move which was disclosed during the courtesy visit of the Mr Tsaagane to the Minster of Science and Technology, Dr Ogbonnaya Onu in Abuja at the weekend.

Mr Tsaagane noted that listing the company on the Lagos bourse would be a significant step towards expanding the capitalization of the capital market.

“It is going to offer an important role in the capital market as it will be one of the largest transactions in Africa. This will showcase Nigeria in the global economy if we can achieve it."

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He further stated that the company is looking at the digitalizing the IPOs application processes with the aim of minimalizing the use of paper.

“So we are working with the Nigeria Stock Exchange to develop application platform to make our customers be able to apply online."

Also, it would lead to the evolving of many financial intermediation platforms and products which would replace the physical registrars and issuing houses within the financial system.

Goldman Sach and JP Morgan Chase, top global leading investment bankers, also muted the decision to introduce Artificial Intelligence (AI) within their investment decision framework for an effective and efficient investment decision.

“Here will be the first place of doing such digital application,” he added.

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He said the Nigerian Communication Commission (NCC) and the Nigeria Stock Exchange among others were fully in support of the plan.

In recent time, Nigerian financial sector has witnessed the massive transformation in terms of integration of technology-driven products and services.

This move if successful would facilitate elimination of some many intermediaries in private and public placements by corporate organisations in Nigeria.

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