Grant provided to enable Nigerian Stock Exchange to develop robust business continuity and disaster recovery plans

Supporting the development of a robust and secure capital market in Nigeria is the goal of a US Trade and Development Agency (USTDA) grant awarded to the Nigerian Stock Exchange (NSE). The $236,410 grant will be used to provide technical assistance to the NSE in order to develop business continuity, disaster recovery and systems backup plans.

A signing ceremony to officially confer the grant was held at the NSE in Lagos .

USTDA regional director for Sub-Saharan Ned Cabot and NSE director general Dr. Ndi Okereke-Onyiuke signed the grant agreement on behalf of the US government and NSE, respectively. The commercial attaché at the US Consulate in Lagos , Joanna McInerney, and NSE general manager of emerging markets and special projects Uzoma Henry Onyekuru signed as witnesses to the grant agreement.

The USTDA grant awarded will fund technical assistance that will provide a mechanism for continuous trading and support at NSE in case of a failure of the main building or equipment.

•Date: 22nd March 2006• Region: Africa • Type: Article •Topic: Financial sector
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