BPE to list privatised firms on Stock Exchange

The structure of the reform and privatisation process by the Bureau of Public Enterprises (BPE) envisages listing of privatised enterprises as the final outcome, its Director-General, Alex A. Okoh, has said.

Okoh made the remarks at a meeting in his office in Abuja on Friday, with members of the technical committee on attraction of new listings to the capital market. The committee is chaired by Haruna Jallo Waziri, an Executive Director at the Nigeria Stock Exchange (NSE.)

The clarification followed series of calls by investors in the capital market for the Federal Government to list the privatised firms including those in the oil and gas, power and telecommunications sectors of the economy, to boost liquidity as well as confidence in the market.

The move is also expected to open opportunities for Nigerians to be co-owners of the companies, while also providing the much-needed funds for them to run their operations in order to maximise the benefits of privatisation.

Okoh pledged strong collaboration with the capital market, which he said will help deepen the market, adding that “we will collaborate in reviewing what the conditions are and try to make it right for the listings.”

However, he raised concerns about the stability of the market and prospects of getting good value should the privatised entities be listed, adding that “we will collaborate with you in establishing the conditions that will reduce the nerves of the core investors.”

The BPE boss also explained that there is a period of assessment of privatised entities during which the BPE examines the conditions for listing. He enjoined the committee to take a holistic approach on their assignment.

In his remarks, Waziri pointed out that they have engaging trade groups, regulators and quasi-regulators in order to actualise their mandate.

He noted that apart from creating efficiency, privatisation is a catalyst for economic growth and also induces inclusiveness in the populace.

Privatisation, he added, increases the velocity of the capital market. He said that there is capacity in the primary market, noting that there is depth in the market that is yet to be explored.

Nigeria’s most valuable bank brand, First Bank of Nigeria Limited, has officially announced the launch of its refreshed and user-friendly website. The new website is adaptive and responsive and has a multi-real estate billboard homepage with one-click access to information.

The website is feature-rich with mortgage and loan calculators, a currency converter and a Google maps integrated branch locator. Built for the digital age, it is easy to access and navigate for the average multi-screen user. Visitors can expect to find any information they seek on the website in 3 simple clicks. Its mobile enabled features make it perfect for the always on-the-move generation.

A statement from the bank said the new website is considered a unique evolution for the lender in terms of information and interactive services available for customers, investors, shareholders and the global community.

The Group Head, Marketing and Corporate Communications, FirstBank, Mrs. Folake Ani-Mumuney, said the site, which is a quantum leap from the old website, can be accessed via the new URL https://www.firstbanknigeria.com from any internet enabled device with a functional browser.

She was quoted as saying: “The launch of refreshed website comes in line with measures that the Bank has taken to execute its digital banking strategy that aims to progress all facets of the its activities in line with global best practices.” She explained that FirstBank has benefited from modern technology tools to ensure a solid technical foundation for the new site, which would see continuous enhancements in the coming months to enhance the effectiveness of its operations and provide all key information needed by customers, investors and other visitors of the website to make investment decisions and have a better customer experience.