The Nigerian Stock Exchange (NSE) has expressed readiness to partner with the Federal Inland Revenue Service (FIRS) on information sharing as regards financial reports of quoted companies.
Its Chief Executive Officer, Oscar Onyema, made this known during the digital closing gong ceremony of transactions on the bourse.
The gong ceremony also witnessed the Executive Chairman, FIRS, Alhaji Muhammad Mamman Nami, engage the capital market community on the platform of the NSE.
Speaking at the event, Onyema said the NSE is proud to be associated with the FIRS while adding that it is ready to partner with the FIRS on information sharing as regards financial reports of quoted companies.
“The FIRS is saddled with the very important task of assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria. I must, therefore, commend the FIRS for its internal revenue assessment and collection efforts for the benefit of our economy, even in these challenging times.
As responsible corporate citizens, we at the NSE are proud to be associated with the FIRS and will continue to strengthen our relationship even as we look ahead to our post-demutualisation phase”, he said.
On his part, Nami noted that the FIRS have been keenly following the activities and the developments at the exchange which bear mutual benefits to both institutions. According to him, the demutualisation of the NSE will undoubtedly promote access to diverse investment opportunities and strengthen investors’ confidence in the capital market.
“Furthermore, there is clear evidence that the policies being put in place by the management of the NSE are yielding positive results given the impressive performance of the equities market in 2020 despite the COVID-19 pandemic and harsh social and economic conditions. I assure you that the FIRS will continue to support the positive initiatives of the NSE to improve its operations, achieve its goals and deliver on its mandate,” he said.
Since the activation of its business continuity plan in March 2020 which led to remote trading and working from home, the NSE has transitioned many of its events to digital formats – including the closing gong ceremony – and continues to maintain seamless operations almost a year later.