The Nigerian capital
market is finally achieved full dematerialisation of share certificates, 10
years after the move was initiated.
Dematerialisation
is the conversion of physical share certificates of investors in the capital
market to electronic forms to aid seamless trading.
Speaking in an
interview with newsmen, General Manager, Operations, Central Securities Clearing
System Plc, Joe Mekiliuwa, said the dematerialisation journey, which started 10
years ago, was targeted at boosting liquidity in the capital market.
According to him, about
8.5 million accounts have been dematerialized, in addition to the 7.5 million
that had been done much earlier, adding that all share certificates existing in
the country’s capital market system had been converted to electronic forms.
Mekiliuwa further
said that owing to the fact that the share certificates now had electronic
presence, they were now in the system and trading on them could be done
swiftly.
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