The SEC sees the drop from 80 per cent domination as an index of growth.

The Securities and Exchange Commission (SEC), on Tuesday, said that foreign investors contribute about 70 per cent of daily trading value of equities at the Nigerian Stock Exchange (NSE).

Arunma Oteh, the Director-General of the commission, said at the post media briefing of the Capital Market Committee in Lagos, that retail investors? contributes about 30 per cent of the daily value of the market equities.

Oteh said that the drop in foreign investors? domination of the market, from the initial 80 per cent after the capital market crisis, was a significant index of growth.

She said that contrary to uninformed concerns about the level of foreign investors? participation in the Nigerian bourse, SEC sees it as a challenge and a window for the stimulation of domestic investors.

According to her, the commission will reinvigorate its national investor education to ensure increase in retail investors? participation and creation of sustainable pool of local savings through capital market.

She urged domestic investors to embrace the collective investment schemes to broaden their investment and protect it against market fluctuations.

Oteh said that the Nigerian capital market currently have about five million retail investors with less than 250,000 of them investing through the schemes.

Oteh projected also that the new listing segment of the market would witness a boost in first quarter of 2013 with the listing of new companies from agriculture and oil/ gas sub-sectors.

She said that the move by the federal government to privatise electricity generation and distribution companies would offer Nigerians the opportunity to participate in the market.

Ade Bajomo, Executive Director, Market Operations of NSE, said that over 500 small and medium enterprises were discussing with the Exchange on peculiar listing requirements.

He said that the NSE would identify the rightful companies to list after the exercise to ensure that they remain active post listing.

He said that new listing was of priority to the management, adding that more companies would list as the market continue to grow.

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