The WFE is the association of 54 regulated exchanges around the world. | By Yinka Ojo

The Nigerian Stock Exchange (NSE) has finalised plans to apply for full membership of the World Federation of Exchanges (WFE).

WFE is the association of 54 regulated exchanges around the world.

The NSE has remained an associate member with an observer status over the years despite having been existing for over 50 years. Johannesburg Securities Exchange (JSE) and Egypt Stock Exchange are already full members of the WFE.

We are actively working on getting our application completed within the next month or so,” said Oscar Onyema, the NSE boss. “Once that is done, our plan is to then submit our formal application to the WFE for consideration.”

He added that the NSE was partnering world-class stock exchanges, learning their processes and other activities that would help it achieve its aim of becoming a full member of WFE.

market operators have hailed the development, saying that the successful admission of the NSE as a full member of WFE would boost the international patronage of the Nigerian stock market.

Some of the criteria that the WFE will check to determine if the NSE is qualified for full membership include: being significant within its country of origin; being an important factor within the country?s economy; and being regulated and supervised by an independent capital markets authority which must be an ordinary member of International Organisation of Securities Commissions (IOSCO).

Yinka Ojo

Yinka has taught at various levels of education. He has published a textbook on effective teaching practice and several academic papers in reputable journals. He is currently an education consultant. He loves writing, poetry, music and is presently working on a musical album billed to be released into the market soon. 

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