The Nigerian Exchange Limited (NGX) is considering an extension of its trading hours from 9:30 am–2:30 pm to 9:00 am–5:00 pm
Chief Executive Officer of the NGX, Jude Chiemeka, disclosed this during a Zoom meeting with market operators on Tuesday. The session had over 120 participants, including the Chairman of the Association of Securities Dealing Houses of Nigeria, Sam Onukwue.
According to the proposal seen by The PUNCH, the pre-open session would begin at 9:00 am instead of the current 9:30 am, while the pre-close would shift to 4:50 pm from 2:20 pm. The official market close would move from 2:30 pm to 5:00 pm.
Chiemeka noted that the engagement was the first consultation with trading licence holders on the subject matter. He explained that the review was necessary as global stock exchanges extend trading hours to accommodate retail investors, particularly those trading via smartphones.
This move comes as the Johannesburg Stock Exchange considers the introduction of 24-hour trading in line with international market trends.
