The Nigerian Stock Exchange (NSE), formerly known as Lagos Stock Exchange till 1977, was established in 1960. The organization is a giant financial institution with over 169 listed companies and a total market capitalization of over ₦13 trillion Naira.
The Nigerian Stock Exchange offers benefits to both companies and investors alike. Their wide range of services are also duly standardized towards ensuring safety. In other words, NSE gives the investors avenue to build their wealth and be a part of economic development.
On the other, it provides a wide access to finance companies that are quoted on it. The operations of the Nigerian Stock Exchange are standardized and its functions are just as guided as any other exchange across the globe.
In this post, we shall take a look at the overview of the Nigerian Stock Exchange functions, its peek into the everyday operations of the exchange and salary scale for their staff from entry level to senior management positions.
Functions of the Nigerian Stock Exchange
The overall expected outcome of the Nigerian Stock Exchange is to:
“Contribute to improving liquidity in the market, and to renew investor and issuer confidence, by increasing competitiveness, and creating greater visibility into our capital market for global investors, analysts and data vendors.”
Its specific functions include:
– To provide an opportunity for investors to buy and sell securities.
– To provide an opportunity for businesses to raise funds from the general public.
– NSE serves as a catalyst for economic growth and development.
– The Nigerian Stock Exchange also provides relevant information for the general public – both potential investors and owners alike – to make relevant decisions.
– It helps in assessing the Nigerian economy in terms of liquidity while also facilitating dealings in government-owned securities.
– Finally, to provide guiding rules and principles to protect the public from fraud and other wrong dealings.
Generally speaking, NSE staff is made up of senior management staff, junior staff and contract staff respectively.
Below are the Nigerian Stock Exchange Salary Structure
The salary paid to interns and trainees are less than the amount paid to entry level workers. This set of workers with the Nigerian Stock Exchange are the least paid, but will start enjoying higher monthly salaries and bonuses after graduating to entry level. They receive as much as N50,000 – N70,000 monthly for the duration of trainee, after which they move to the entry level with higher pay.
NSE entry level employees are relatively higher than the interns or trainee staff. However the amount of money earned by the new employees are expected to increase with promotion and experience.
The current estimated salary earned by entry level NSE graduate workers is between ₦135,000 – ₦ 140,000 per month after tax. This amount excludes benefits and allowances attached.
High ranking Nigerian Stock Exchange executive officers are the highest paid staff with weight of responsibilities. They earn as much as ₦3 million Naira monthly excluding a watering bonuses and allowances attached.
In summary, Nigerian Stock Exchange is one of the oldest and highest paying institutions in Nigeria that pay their staff handsomely well in comparison to most multinational companies that pay according to global standards. However figures stated here represent net total amount with tax deductions.
Job seekers in the categories of graduate trainees and those who have the intention to work for Nigerian Stock Exchange will find the information provided here very useful and educative.