He made this known during the first-ever digital closing gong hosted by the Exchange via Instagram Live on Thursday in honour of the contributions of Sterling Bank Plc to the fight against COVID-19 in Nigeria.
Speaking on the NSE’s efforts to sustain an open and vibrant capital market, Onyema said, “Following the activation of our Business Continuity Plan and our transition to remote working and trading, the Exchange has been resolute in its commitment to ensure that there are no disruptions to operations for any of our stakeholders.
“We have leveraged our existing digital assets to ensure there is continuous flow of information and activity in the market and are now looking at how we can deploy creative solutions to enhance our stakeholders’ experience during these unprecedented times.”
Onyema identified the sounding of the closing gong to mark the end of the trading day as a treasured tradition of the Exchange that had been impacted by the temporary closure of the trading floor and one which presented an opportunity for digital engagement.
He added, “It has been our pleasure to rekindle the tradition of sounding the closing gong albeit digitally with Sterling Bank Plc.
He commended the management of the bank for its efforts “to curb the spread of COVID-19 in Nigeria and support the Nigerian economy at this time.”
On his part, Chief Executive Officer, Sterling Bank Plc, Abubakar Suleiman, said, “My appreciation goes to the NSE for leading the digital transformation of our market. These are interesting times we live in with the outbreak of coronavirus changing the way we live and work.
“While we all come to terms with these new realities, I urge everyone to identify and leverage the opportunity we have been given to reset our nation and our businesses.”
Commenting on the bank’s efforts in providing succour to stakeholders at this time, Suleiman said, “At Sterling, we are offering a range of solutions to help Nigerians manage through temporary or extended period of reduced or lost income as a result of the coronavirus outbreak.
“We have reduced the restructuring fees on all new and existing loans by up to 50 per cent; issued an extension of the repayment of loan obligations that are due; and suspended the penal charge for late minimum repayment on customer credit cards during this period, to name a few.”