The Chief Executive Officer (CEO) of the Nigerian Stock Exchange, (NSE) Mr Oscar Onyema has charged operators (stockbrokers) on the need to comply with the minimum requirements to operate in the stock market or face sanction.

Onyema said this had become germane if the stock market must be made to operate in line with what was obtained globally, noting that “The Exchange expects minimum standards for broker /dealer community who wish to maintain the NSE certificate. Stockbrokers must ensure that they meet the minimum capital requirements and also comply with all operational requirements.

Speaking with the capital market community during a briefing last week, the NSE boss said: “Lack of investors’ interest in the market was caused by the loss suffered by the market in 2008 and the reforms in the banking sector”

According to him, “NSE will enhance its education campaign to enlighten investors on opportunities that abound in the market.”  He advised investors to adopt appropriate techniques in making investment decisions, saying, capital market was not a game of chance but a game that is very meticulous to play.

He pointed out that the NSE was making attempt to introduce the investors’ clinic where investors would be lectured on how the market worked.

He further stated that more guidelines regarding the operation of the market would be made ready in the cause of the year, adding that an automation of the trading platform would be enhanced.

Onyema reiterated that considering the lofty fiscal reforms being put in place by the Federal Government, the Exchange would rely more on them for growth.

He said the deregulation of the downstream subsector by the government which is expected to transform the economy in terms of growth and development would definitely trickle into the capital market, when the Petroleum Industrial Bill (PIB) was finally passed into law.

Onyema explained that although the crisis in the Euro zone would affect major economies around the globe, “it provides concern for us at the capital market. It will however provide growth opportunity for Africa and other emerging markets.”