Due to the recent confirmed cases of COVID-19 in the country, the Nigerian Stock Exchange, NSE, says trading activities will be suspended till further notice. READ ALSO: Coronavirus: FG Orders Public Servants To Stay At Home
In a statement on Monday, the NSE noted that with effect from Wednesday, March 25, 2020, all its trading floors will be temporarily closed, while remote trading will continue.
It adds that NSE staff will begin a 30-day remote working plan and will be available across all digital platforms to provide support.
The statement says dealing members should continue to trade remotely through its electronic platforms such as Fix protocol and Xnet and reach out to their compliance officers if any support is required.
The NSE also stated that all physical meetings within and outside its office premises have also been suspended.
Following this development, stocks trading on the Nigerian Bourse will be done by dealing members at the comfort of their homes; employing the use of technology.
The NSE further revealed that it has extended the time to file audited financial Statement for the year ended December 31, 2019.
In the Nigerian Stock Exchange’s Circular of 19 March 2020, with reference number NSE/RD/LRD/CIR4/20/03/19, listed Companies were advised on measures to put in place for the
conduct of their Annual General Meetings, AGM, due to the Coronavirus (COVID-19) outbreak.
Furthermore, the NSE said that it understands that some of the internal governance, auditing and other procedures and processes of listed companies may have been disrupted by COVID-19 and regretted any inconveniences.
The NSE, in the meantime, granting listed companies a sixty-day grace period for the submission of their Audited Financial Statements for the year ended 31 December 2019, AFS, which are due to The Exchange on Monday, March 30, 2020.
The move by the Nigeria Stock Exchange follows the confirmation of Nigeria’s 40th COVID-19 case. So far, only one death has been recorded.