At exactly 2:30 on Friday, the Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami tolled the bell to close trading at the Nigerian Stock Exchange (NSE).
Nami said FIRS would always support efforts to build confidence in the market, noting that the resilience of the NSE in 2020 signalled hope for the economy.
TheFact Nigeria reports that Nami engaged with the capital market community and was honoured with The Nigerian Stock Exchange (NSE) Digital Closing Gong ceremony.
Speaking at the event, the Chief Executive Officer, NSE, Mr Oscar N. Onyema commended FIRS for its internal revenue assessment and collection efforts for the benefit of the economy.
“I am delighted to welcome the Executive Chairman, FIRS, Alhaji Muhammad Mamman Nami to this Digital Closing Gong ceremony. The FIRS is saddled with the very important task of assessing, collecting and accounting for tax and other revenues accruing to the Federal Government of Nigeria.
“I must, therefore, commend the FIRS for its internal revenue assessment and collection efforts for the benefit of our economy, even in these challenging times.
“As responsible corporate citizens, we at the NSE are proud to be associated with the FIRS and will continue to strengthen our relationship even as we look ahead to our post-demutualisation phase.”
Also speaking, Alhaji Nami said, “The FIRS has been keenly following the activities and the developments at The Exchange which bear mutual benefits to both institutions.
“Noteworthy is the demutualisation of the NSE which will undoubtedly promote access to diverse investment opportunities and strengthen investors’ confidence in the capital market.
“Furthermore, there is clear evidence that the policies being put in place by the Management of The Exchange are yielding positive results given the impressive performance of the equities market in 2020 despite the COVID-19 pandemic and harsh social and economic conditions.
“I assure you that the FIRS will continue to support the positive initiatives of the NSE to improve its operations, achieve its goals and deliver on its mandate,” he said.
It would be recalled that since the activation of its business continuity plan in March 2020 which led to remote trading and working from home, the NSE has transitioned many of its events to digital formats – including the Closing Gong ceremony.