NSE Records Zero Incidents of Corruption

October 18, 2019
Nigerian Stock Exchange NSE Oscar Onyema

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) on Friday, October 18, 2019, released its 2018 Sustainability Report titled Growth, Innovation and Value Creation.

The NSE 2018 Sustainability Report was written in accordance with the “core” option of the Global Reporting Initiative (GRI) Standards and complies with the minimum requirements of the United Nations Global Compact (UNGC) Communication of Progress (COP).

The report, in its fifth edition, showcases the exchange’s sustainability progress along the four pillars of Marketplace, Workplace, Environment and Community.

The document is a detailed and transparent compilation of the progress on the NSE’s sustainability commitments and targets which were developed when the NSE commenced its sustainability journey with the launch of its Corporate Sustainability and Responsibility (CSR) strategy in 2013.

It also provides an update on the NSE’s activities which contribute towards the attainment of the global Sustainable Development Goals (SDGs) leveraging partnerships with stakeholders across its ecosystem.

Highlights from the report showed that during the period under review, the stock market regulator recorded zero incidents of corruption to lead by example.

During the year, the exchange partnered with the Ministry of Finance, Nigeria to launch N10.69 billion Federal Government Green Bond and leveraged on Artificial Intelligence through the X-Bot to increase access to market information.

The NSE also retained the ISO 27001 certification and impacted 42,480 students on financial literacy as well as raising N28.5 million towards the fight against cancer.

In addition, it improved its waste management and recycling policy to support circular economy through partnership with Recyclepoints, while sustaining the provision of quality education to 300 internally displaced children at the Maisandari Alamderi School donated by the Exchange

In the year, the exchange received an award for CSR in Education from the Lagos Chamber of Commerce and Industry and an award for Best Use of Technology for Efficiency from Nigeria Technology Innovation and Telecom Awards.

Commenting on the report, the Head of Corporate Communications, NSE, Mr Olumide Orojimi, said that, “We hold ourselves accountable to the highest standards, leading the quest for the integration of the Environmental, Social and Governance (ESG) imperatives in the Nigerian capital market.”

According to him, “For us, it is important to lead by demonstrating full disclosures while exploring innovative ways to help our ecosystem apply sustainable practices to advance their strategic agenda towards the attainment of the Sustainable Development Goals (SDGs).”

“This report spotlights the milestones we have achieved in imbibing sustainability into every unit of our business, fostering green financing, empowering our employees and positively impacting our community and environment. It also touches on key initiatives undertaken in the reporting year all in a bid to remain a good corporate citizen,” added Mr Orojimi.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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