Tuesday,March 24, 2020 /10:47 AM / by NSE / Header Image Credit: NSE

From the outbreak of thecoronavirus (COVID-19) globally and the announcement of the index case inNigeria on February 25, 2020 to the current status of 36 confirmed cases, 2discharged cases and one death; we have kept abreast of events; sustainedtrading activities and prioritized the health and wellbeing of the people in ourecosystem. 

While this pandemic hasthrusted on us an unanticipated human and economic crisis with businesses andcapital markets significantly impacted, we continue to operate during ournormal trading days and hours pursuant to the activation of business continuityplans that affirm the resilience of our market. We take seriously our role ofproviding an efficient market that allows investors access to liquidity even inthe most trying of times.

Over three weeks ago, weactivated precautionary health measures across our offices where we screenedvisitors with thermometers, provided sanitizers and minimized access into ourpremises. Further to this and with the significant growth in new cases, effectiveTuesday, March 24, 2020, we have activated a 30-day remote working plan for ouremployees excluding essential staff. In order to give our dealing membersenough notice, effective Wednesday, March 25 , 2020 all our trading floors willbe temporarily closed, although remote trading will continue and NSE staff willbe available through all our digital platforms to provide support. We regretany inconvenience this may cause in the discharge of your business activities,but we must act in the best interest of all stakeholders at this time.

In line with our robustBusiness Continuity Management framework, we would like to reassure you that wehave put in place measures to ensure our operations and trading activitiescontinue seamlessly throughout this period. As an exchange, we will ensure thatall relevant information continues to flow into the market to ensure thepricing of risk assets remains transparent and reliable across asset classes toallow investors to value their portfolios and make informed investmentdecisions under these volatile conditions. 

Dealing members are,therefore, encouraged to continue to trade remotely via our electronicplatforms such as FIX protocol and XNET, and reach out to their ComplianceOfficer if any support is required. Please note that we will provide manualsupport to members without remote access during this period. 

Issuers who have anybusiness to conduct with The Exchange can reach out to their RelationshipManager for guidance. You should continue to submit all regulatory filings viaIssuers' Portal (X-Issuer). As The Exchange embraces social distancing asprescribed by Nigeria Centre for Disease Control (NCDC), we have furtherengaged with the Federal Government on issues of Annual General Meetings,maturing financial instruments, financial reporting, to mention a few andappropriate updates will be provided in due course.

Furthermore, all physicalmeetings within and outside our office premises have been suspended untilfurther notice. We have instructed our employees to leverage technologicaltools to conduct meetings virtually. We assure you that our virtual lines ofcommunication will remain open to engage with you and attend to yourneeds. 

Please contact us viae-mail, mobile phone or other digital channels if you have any questions,comments, complaints or observations in this regard. 

We understand that theseare trying times, but we are committed to ensuring we do not experience anydisruptions to our operations. As we navigate this new reality, we encourageyou to follow our various communication channels as we continue to sharerelevant updates. 

Thank you for yourcontinued co-operation and together we will pull through this difficult time.

Oscar N. Onyema, OON

Chief Executive Officer

Related Links: 

1.  COVID-19: NSEAdvises Companies to Put Adequate Precautionary Measures In Place Ahead of 2020AGMs

2.  COVID-19: NSEExtends Time to File Audited Financial Statement for the Year Ended 31 December2019

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