By Richard ABANGWU InvestAdvocate

Lagos (INVESTADVOCATE)-In their plan to be the gateway of African Market and to achieve $1.0 trillion Market Capitalisation in 2016, the Nigerian Stock Exchange (NSE) Tuesday said its newly launched Issuers Portal (X-Issuer) will entrench structure and control in the submission and dissemination of company information.

Oscar Onyema, Chief executive Officer (CEO) of the NSE said this at the launch of the Portal in Lagos Nigeria.

“The Issuers’ Portal, a key regulatory initiative of The NSE, will entrench structure and control in the submission and dissemination of company information” he said

According to him, it will provide an unparalleled opportunity to significantly reduce information leakage and eliminate delays associated with the discharge of issuers’ post-listings obligations in a cost effective and efficient manner. “X-Issuer will no doubt result in greater market integrity and participation” he said.

Onyema affirmed the launch of X-Issuer is more than just a mere passion for 21st century technology strategies; “it is the understanding that accurate information is imperative in driving a vibrant Capital Market. The introduction of the Issuers’ Portal embodies The Nigerian Stock Exchange’s unwavering commitment to providing a first rate platform that will enable all stakeholders build and grow their businesses.

“Undeniable to all present here is the fact that there is a need to bridge the current information gap between listed companies and the capital market, which is information driven. It is also time to look beyond the submission of information to the Exchange by post, hand delivery or courier. Let us jointly create a world of information repository in the capital market that will facilitate quick and easy access to information by investors and other interested parties globally” he said.

The NSE CEO said, the Exchange believes that it needs to be well positioned in business to compete effectively in the global Marketplace and continue to work on achieving greater transparency and integrity. “Whilst we are positive that this initiative will encourage accountability, we also believe that it will positively impact activities in your issues as international and local investors, and analysts shall be better able to evaluate your data in an accurate, timely and cost effective manner” Onyema said.

He said being aware of the reality that knowledge transfer is a key success factor in the launch of the Issuers’ Portal, the NSE has over the last month organised User Acceptance Tests (UAT) with a substantial number of listed companies –providing training and having the listed companies test the portal and provide valuable feedback aimed at enhancing the overall user experience. I thank all those that participated in these tests. “Your efforts have contributed in the rollout of a more robust product” he said.

At the launch, Josephine Igbinosun,  Head, Listings Regulation of the NSE, said that the X-Issuer would enable issuers to submit information  such as Corporate Action, Directors Dealings, Financial Statements, Earnings Forecast and meeting notice.

“This would be done without stress from the comfort of their offices and according to listing rules” Igbinosun said.

She affirmed that the X-Issuers Portal is secured, safe and easy to use.