By Modupe Gbadeyanka
The Nigerian Stock Exchange (NSE) has announced an extension to Monday’s trading session by one hour.
This followed the suspension on trading activities on the nation’s bourse earlier today as a result of a technical issue.
The glitch was later result as at about 1:45pm and the management of the stock market said due to the four-hour trading time lost during the technical problem, the trading day will now end by 3:30pm instead of 2:30pm.
“The Nigerian Stock Exchange (NSE) today, January 14, 2019, encountered a technical glitch which impacted trading activities for about four hours.
“Head of Shared Services Division, NSE, Mr Bola Adeeko, said that the glitch was resolved and market transactions continued at 1:45pm.
“Due to the lost trading time, Mr Adeeko explained that a decision was taken to extend the trading hours on Monday to 3:30pm, from the usual time of 2:30 p.m. He further confirmed that the root cause of the disruption has been fully rectified.
“According to Mr Adeeko, NSE has a robust business continuity framework in place with processes designed to forestall and reduce the impact of such unpredictable technical glitches when they occur.
“The Bourse has a solid track record of high availability and systems resilience, whilst working with some of the cutting edge technologies required to power up a modern Exchange and will continue to work to enhance this,” he said.
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