NSE Wants Prompt Information From Firms

266

Describing it as one of the basic forces that drive the capital market, authorities of the Nigerian Stock Exchange have urged quoted companies to provide periodic information to the investing public as and when due, saying that such would also boost investors confidence in the market.

Speaking at the Exchange recently, the Assistant Director General of the Exchange, Mr. Musa Elakama, said the market relied on information and as such quoted companies should not renege in bringing the investing public along in their activities and plans for the future. According to him, with an avenue such as presentation of ‘Facts Behind The Figure’ the investing public would be able to know what direction the companies are going and the prospects of investing their money in them.

Also speaking on the importance of giving adequate information by the quoted companies, the doyen of stockbrokers, Rev. Olu Odejimi, said the basic forces that drive the market were rumour and information, adding that in a situation where the right information is not coming from the quoted companies, rumour thrives and that it might be negative. He said it would be to the companies’ advantage if they come to the market regularly on their plans.

Apart from the release of quarterly results and forecasts, the Exchange provides opportunity for the quoted companies to meet periodically with the dealing members and investing public to brief them on their activities and plans as a way of boosting the investors’ confidence. However, the bull in the capital market had kept many quoted companies in their shell. Unlike in the days of the market buoyancy when companies come to the market one after the other virtually on weekly basis, Ecobank Transnational Incorporated was the first in the year to come to the market and present its facts and figures.