The stock exchange regulatory body understands more than anyone the impact a total lockdown of the trading floors will have on the economy as a whole and has made it a priority to help manage your stocks and keep the operations going at all costs while also working with the relevant government agencies to aid their operational procedures during this crisis – so be rest assured that your stock investments are in safe hands.
The Nigerian Stock Exchange in response to the COVID-19 outbreak in February activated a 30-day remote working plan for their employees in order to give the dealing members enough time to prepare for a temporary shutdown of the trading floors.
As of today, the trading floors shut down temporarily. But remote trading is ongoing and staff will be available across all digital platforms.
In view of this, the NSE has put measures in place to ensure seamless service during this period. Dealing members have been encouraged to trade remotely via the Nigerian Stock Exchange electronic platforms FIX Protocol and XNET, manual support is also provided for members without remote access during this period.
Contact Your Stockbroker
You should know what measures your stockbroker is taking in light of the Corona outbreak. There should be an open and transparent line of communication to enable a seamless flow of information on how to manage your stocks and also to protect your stock investments from fraudulent activities on the trading floors.
Welcome To Stocktown
The Nigerian Stock Exchange recently launched the maiden edition of Stocktown. It is a comic book aimed at promoting financial literacy in Nigeria. Available in both print and digital formats with the download available at www.nse-stocktown.com
More than ever, with the free time at our hands, learning about the Nigerian financial system is a win. Stocktown makes use of illustrated characters to educate readers about the latest developments in the financial markets. They also highlight the importance of savings and investments, and on how to manage your stocks.
In conclusion, the financial ecosystem is rapidly evolving and adapting to the disruptions caused by the COVID-19 outbreak. The consequential effect is that many more Nigerians will remain financially out. Businesses have been hit. One of the most notable is the mini importation business.
The importance of financial literacy is necessary to enable more people to break out of the cycle of poverty. And how to deal with losses in the stock market, even in these trying times.
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