Okereke-Onyiuke: No Investor Lost Money
•Says NSE second in return on investment

Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyiuke, has stated that investors in the Nigerian capital market did not lose money in the face of the crash experienced in the last one year.
She also claimed that the relentless bearish trend of the period was because of the exposure of investors to foreign media of communication through which they followed the unfolding disasters in the United States economy such as bankruptcies and removal of bank executives, thus leading to panic dumping of Nigerian stocks.
Otherwise, she said, the fundamentals of the stock market remained solid and resilient.
Okereke-Onyiuke spoke at the weekend during the capital market stakeholders’ luncheon of the 2009 convention of Association of Nigerian Physicians in America (ANPA) held in Abuja.
She said investors did not lose money on the grounds that most had sold some of the shares when the rates were much higher than their original prices which they used in building houses, cars and other investments, “including marrying more wives”, while they had benefited by way of dividend and bonus shares they had received over the years prior to the burst.
“Distinguished ladies and gentlemen, many of our investors that suffered losses only lost in terms of value,” she told the delegates. “Their holdings are still intact. It must be stated that even those who lost had earlier made huge profits in form of capital appreciation, dividend and bonuses.”
She also remarked that the market had embarked on the steady path to recovery and the Nigerian Diaspora was supposed to take advantage of this rebound.
According to her, at the peak of the global meltdown, the Nigerian market lost only 40 per cent of its value as the total market capitalisation declined from N12 trillion in 2008 to N7.14 trillion in March 2009, but as investor confidence was beginning to rise; the country’s total market capitalisation was equally rising.
“Today, it is hovering above N8 trillion as many of our investors are taking profit regularly following market dynamism,” she said. “Our market is resilient. We did not apply any stimulus.”
The chief executive officer of the NSE said the Nigerian stock market was now second in terms of returns on investment and among the best five in the world as confirmed by Standard and Poor’s as well as International Finance Corporation (IFC), an arm of the World Bank.
She contended that even at that, the rating institutions “cheated” Nigeria because they used dollar terms in calculating the rating of other countries, while that of Nigeria was done using black market rates.
“Until the market meltdown, we have always outperformed many developed markets in the area of return on investment (RoI) in dollar terms as adjudged by the International Finance Corporation (IFC) and Standard and Poor’s, an international rating agency,” she said. “Our market will soon sustain this high performance.”
The DG stated that the Nigerian market shares were now trading below their intrinsic value, making them attractive to local and foreign investors, adding that the NSE had enlarged its Investor Protection Mechanism through enlarged disclosure requirements for the quoted companies and an enhanced risk management strategy.
Aware of the need for investment, Okereke-Onyiuke said, the Federal Government had taken a number of measures, including the amnesty to militants, to restore peace in the Niger Delta, thus sustain Nigeria as an investment destination.
She assured the audience that the Exchange would continue to operate corporate governance in line with global best practices just as she announced that some applications for new issues had been approved this year while many were at the final stages of approval.
“Our market is back to life,” she affirmed. “We shall leverage on our investment in information and Communication Technology (ICT) to remain competitive. Our market is safe and our operating environment is stable as adjudged recently by Fitch Rating Agency.”
However, the CEO of Afri-Invest, who put the event together, Mr. Godwin Obaseki, did not share Okereke-Onyiuke’s optimism, saying the market might take much longer to recover.
“I am not as optimistic as the DG,” he said, although he agreed there were improvements in the economy, like the firming up of the Naira, and asked investors not to panic.
He advised them to always use professional stock brokers and fund managers in investing in the stock market.

something is seriously wrong with this woman.You really begin to wonder her suitability for the position she holds.i have heard her counterparts from other countries speak and they do not sound as childish, simplistic and devoid of content as this lady.with such persons at the helm, i have serious doubts.

The statement is insulting to say the least, FBN just wrote off N21b and paid dividend from reserve, Oceanic wrote off N41B and paid no dividend, imagine buying Oceanic @ N30 and its now N5, Zenith @N50 now N13, etc etc, This same woman was going all over the world and sold TRANSCOP for N7.5 which is now 50k, If we have not lost money what is that. She should keep her mouth shut if does not have any soothing words to say.

It seems that most of our leaders are high on drugs.
Are you sure she's qualified to be a professor?

mbulela:

Okereke-Onyiuke: No Investor Lost Money
•Says NSE second in return on investment

Director-General of the Nigerian Stock Exchange (NSE), Prof. Ndi Okereke-Onyiuke, has stated that investors in the Nigerian capital market did not lose money in the face of the crash experienced in the last one year.
while they had benefited by way of dividend and bonus shares they had received over the years prior to the burst.
“Distinguished ladies and gentlemen, many of our investors that suffered losses only lost in terms of value,” she told the delegates. “Their holdings are still intact. It must be stated that even those who lost had earlier made huge profits in form of capital appreciation, dividend and bonuses.”

when your asset losses value, you have lost money. That is simple economics. Let me reserve my insults for another day.

the more i reread this article, the more confused i get.
how will we progress with such leadership?

Is this woman really serious?

I can't just seem to fathom how individuals like this get to head strategic institutions.
Her statement is an INSULT to the investing public

The stupid bitch[okereke] should be taken to the gallows and shot.

Somebody should ask Madam Ndidi when NSE went down to N5trillion from N13 trillion, is she saying all that was dud to profit takers,

About time this woman is flushed out of that place, she has really overstayed her usefulness. What an insult!!

“Distinguished ladies and gentlemen, many of our investors that suffered losses only lost in terms of value,” she told the delegates. “Their holdings are still intact. It must be stated that even those who lost had earlier made huge profits in form of capital appreciation, dividend and bonuses.”

Gbam.

And to imagine anyone will still invest in NSE when this rubbish reign supreme?

@all,
I suppose you people know much more than she does, why can't one of you lobby to be appointed  to that position and let us see how far you will go. hossanah today, crucify him tomorrow. abusive children !

This woman must be high on drugs and she is not sensitive to the emotions of hard working Nigeria investors

No Investor Lost Money

cos PROF.NDI OKEREKE -ONYEDIKE did not[b] loose weight[/b].

when your asset losses value, you have lost money. That is simple economics. Let me reserve my insults for another day.

How did she become a proffessor by the way?

Wait

Maybe she has a point  -

You have a share at  X amount  it then drops to Y amount due to the recession. As an investor u only actually lose money when u at sell or redeem your share at Y amount.

WHEN STOCKS PEAK THEY EITHER DEPRECIATE OR REMAIN STAGNANT BY THE FORCES OF DEMSND AND SUPPLY. NIGERIAN SHOULD BE PATIENT ENOUGH CAUSE SHERE PRICE WILL SOON APPRECIATE.
NIGER DELTA UNREST HAS CONTRIBUTED ITS QUOTA IN DWINDLING SHARE PRICE.THINGS ARE REALLY FALLING APART WE NEED TO SYNEGIZE.

Pray In what planet is Dr Onyiuke living in? Planet Cuckooland?
Perhaps I dont comprehend what "LOST" mean, are we speaking the same language here?
Some people are just damn lucky that 'head they win, tail they win', otherwise this woman should be cooling her feet in Kirikiri.
http://elombah.com/index.php?option=com_content&view=article&id=156:the-case-against-dr-ndi-okereke-onyiuke&catid=25:politics&Itemid=37

blacksta:

Wait

Maybe she has a point -

You have a share at X amount it then drops to Y amount due to the recession. As an investor u only actually lose money when u at sell or redeem your share at Y amount.

@blacksta, let put figures to it. You 1000 units of Oceanic bought at N25 a year ago, its now N4, even if you did not sell when would it appreciate again to that cost value, those buying now at N4, with the recent experience would they ever allow the stock gobeyong N10? This is the same for almost all stocks, they have all lost almost 75 to 90% of their last year value. If you benchmack that with the Naira loss of value against international currencies within last year your money is gone, worse if you invested with a loan expecting compane to appreciate in value. So to say the list the woman is insentitive to the small investors, it is true that big and deep pocket have recoverred within last six month but those who did not have money in that peroid have lost big time.

Bobstainless:

WHEN STOCKS PEAK THEY EITHER DEPRECIATE OR REMAIN STAGNANT BY THE FORCES OF DEMSND AND SUPPLY. NIGERIAN SHOULD BE PATIENT ENOUGH CAUSE SHERE PRICE WILL SOON APPRECIATE.
NIGER DELTA UNREST HAS CONTRIBUTED ITS QUOTA IN DWINDLING SHARE PRICE.THINGS ARE REALLY FALLING APART WE NEED TO SYNEGIZE.

dem send you? your first post on NL is to come and defend a stupid statement made by someone who claims to be a professor! My little niece in high school has better economic sense than that woman up there talking trash.

what peak? Be reminded that some shares were offered at N10.40kobo only to be valued at 4 naira now.

blacksta:

Wait

Maybe she has a point -

You have a share at X amount it then drops to Y amount due to the recession. As an investor u only actually lose money when u at sell or redeem your share at Y amount.

This shows you didnt invest in shares and clearly you failed economics and mathematics in school

a related question.
where did this woman get her Professorship from?
no insults either way, please.
i am just curious because i have heard her speak several times and her comments are simplistic, devoid of content and lacking in depth.
same with mrs. Cecelia Ibru.

samparian:



This shows you didnt invest in shares and clearly you failed economics and mathematics in school

Thank you sir Mr Mathematics and Economist - I passed the two subjects - but i dont have shares so maybe my knowledge is limited / Naija Shares get K leg.

when the going gets tough, the morons begin to show

the good DGSE is a failure. it only took the current downaward trend to show it

it is in times like these that we see true leaders and visionaries, not when the going is good. the share prices are STILL in free fall - and all she is doing is yarning op.

abeg get rid of the failure! see all the good she did to transcorp

oyb:

when the going gets tough, the morons begin to show

the good DGSE is a failure. it only took the current downaward trend to show it

it is in times like these that we see true leaders and visionaries, not when the going is good. the share prices are STILL in free fall - and all she is doing is yarning op.

abeg get rid of the failure! see all the good she did to transcorp

The true fact - Major installations around the country are being managed by incompetent people.

can some knowledgeable person, please answer my question.

oyb:

when the going gets tough, the morons begin to show

@mbulela

i asked the same question.

mbulela:

can some[b] knowledgeable person[/b], please answer my question.

 

NDI OKEREKE-ONYIUKE: Amazon in the saddle

When the young and ebullient Dr. (Mrs.) Ndi Okereke Onyiuke assumed duty as the Manager and Head of Research and Information Services Department (now Research and Infotech Department) of the Nigerian Stock Exchange in January 1983, little did she realise that come January 2000 (seven years after), she would be at the apex of the Corporate Ladder as the Director-General and Chief Executive Officer.

Ndi Okereke-Onyiuke’s journey in the corporate world began at the New York Stock Exchange where she rose to managerial cadre before she answered the clarion call to come and develop her fatherland ( Nigeria ).

She is a study in all round development. Top on her sterling qualities is the divine gift of intellectual prowess. Her fertile imagination became noticeable right from her early education when she emerged as the best among her equals. The records are quite revealing: At Queen’s School, Enugu , Nigeria , She passed out with Grade 1 in her West African School Certificate Examination in 1965. This was capped with a distinguished performance at Higher School Certificate Examination in same school in 1967. The intellectual strength manifested in her graduation with First Class Honours (Magna Cum Laude) in Business Administration, Computer Sciences and Economics at the prestigious Baruch College of the City University of New York in 1975.

Still in search of the proverbial Golden Fleece, she obtained her Master of Business Administration, (MBA) specialising in Finance and Computer Science at City University of New York, Graduate School in 1977. By 1980, Dr. Okereke-Onyiuke had comfortably completed her Doctor of Philosophy/Doctor of Administration in Finance and Securities Market at City University Post Graduate centre, New York .

Her exceptional brilliance earned her chains of awards off-shore: She has won the following awards:-

· The Foreign Student Academic Excellence Tuition Waiver, 1972 - 1976.

· Cuny award for summer Study at Universite Parix-ix , France , 1980

· Beta Gamma Sigma Award for Summer Study at Cambridge University , 1977.

· The Goldman Sacks Awards for Best Thesis; Academic Dean’s List, 1972 - 1976.

· Nominated and listed in “Who is Who in America ” 1981.

· She won $20,000.00 Cuny Post Graduate Research Award/Teaching Fellowship as Adjunct Professor, 1978.

· Nominated and Selected for President Carter’s Executive Exchange programme, 1980, The White House Washington DC.

· Awarded Order of the Niger (OON) by the Federal Government of Nigeria in 2001.

Armed with her impeccable academic honours, Ndi was fully prepared to be a colossus in the emerging international financial district. Besides, she is eminently positioned as a great intellectual lieutenant to the immediate past Director General, Apostle Hayford Alile.

On assuming duty in 1983, she dazzled the Council and Management of The Nigerian Stock Exchange by strengthening the organisation’s research base. She was highly instrumental to the computerization of the Exchange in 1985, a development which included the creation of “The Nigerian Stock Exchange” All Shares Index - a barometer that gauges the mood of economy. In the same year, She spearheaded the training of potential Stockbrokers by starting off The Stock Exchange’s Authorised Clerkship Examination. Today, the examination is midwifed by the Chartered Institute of Stockbrokers (CIS). The credit goes to her that Nigeria ’s Stockbrokers have a pride of place in the international stock markets.

She brought her technical know-how to bear on the Exchange at the inception of the Privatisation and Commercialisation Programme of the Federal Government. As the head of the Exchange’s Quotations Department, she was the Chairman for the Technical Committee on Privatisation and Commercialisation (TCPC) now Bureau for Public Enterprises (BPE). Her laudable contributions to the committee’s achievements earned her special commendation from The Exchange and Federal Government of Nigeria.

In April, 1997, her efforts as the Project Director of the Central Securities Clearing System (CSCS) Limited was crowned with success with the commencement of automated delivery that is Central Depository, Clearing and Settlement System. Her concerted efforts with Rasak Oladejo, the Project Director of Automated Trading System (ATS) culminated in the success story of the new trading regime in April, 1999 (T+5) and on March 1st, 2000 (T+3) in line with developments in advanced markets. As an accomplished securities strategist, she emerged as the Chairman of the African Stock Exchange’s Association (ASEA) listing Committee whose mandate is to produce a standardized Minimum Listing Requirements for ASEA Members to facilitate cross border listing in Africa . She has always served on the ASEA Committee on harmonisation of qualifying examination for stockbrokers in Africa .

Apart from her continued contributions to the growth and development of The Nigerian Stock Exchange, she is ever ready for any national assignment that can uplift Nigerians living standard. She has served as a Director of the National Directorate of Employment in addition to distinguishing herself on the Boards of major companies and two banks operating in Nigeria .

In the field of sports, she is a national figure. She is the current Chairman of the Nigerian handball Federation and Vice-President of the Nigerian Baseball and Softball Federation as well as the International Vice-President of Baseball Worldwide.

She maintained an enviable balancing of her administrative callings with social activities. This probably explains the perception of some of her admirers who insist that “Doctor” has three Voices - Administrative Voice, Intellectual Voice, and Social Voice. Her administrative voice is believed to be “bulish”, an observation which earned her the nick-name - “Margaret Thatcher”, a euphemism for “Iron Lady”. She is a goal-getter and a perfectionist. Her intellectual voice is noticeable whenever she emphasizes her special interest in capacity building while the social voice is full of didactic jokes.

When the history of the African Capital Market is chronicled, Ndi Okekere-Onyiuke’s name shall be engraved as the first woman in Africa to head a stock market, as well as one of the first two women in the world to head a stock market. By any yardstick, the two, are personalities for the famous Guinness Book of World Record.

http://www.newswatchngr.com/editorial/Notable%20Leaders/leaders11115164230.htm