Nigerian Stock Exchange closes trading floor amid coronavirus epidemic

The Nigerian Stock Exchange has declared the temporary closure of its trading floors and remote trading engagement with effects from Wednesday, March 25 due to coronavirus outbreak in the country.

The CEO of Nigerian Stock Exchange, Oscar Onyema cited in a statement in Nigeria's Lagos that the decision became imperative due to recent developments in the country. According to him, the Nigeria Stock Exchange activated precautionary health measures over three weeks back across the offices. "We screened visitors with thermometers, provided sanitizers and minimized access into our premises," he said.

"Further to this and with the significant growth in new cases, effective from March 24, we have activated a 30-day remote working plan for our employees excluding essential staff. In order to give our dealing members enough notice, effective March 25, all our trading floors will be temporarily closed, although remote trading will continue and NSE staff will be available through all our digital platforms to provide support.," he opined.

"In line with our robust Business Continuity Management framework, we would like to reassure you that we have put in place measures to ensure our operations and trading activities continue seamlessly throughout this period,'' he added.

Nigeria is combating the deadly coronavirus with active 44 cases. The country has lost one patient and recovered 2 patients till date.

We are playing our part to curb the spread of COVID-19 by working remotely. While our offices are temporarily closed, we are still conducting business with no disruptions. pic.twitter.com/F1h9RzBz1C

— The Nigerian Stock Exchange (@nsenigeria) March 24, 2020