September 11, 2012/ Proshare / WebTV News
The Nigeria Stock Exchange has inaugurated the Board of Trustees of the Investor Protection Fund with Dr. Gamaliel Onosode as its Chairman.
Part XIV of the Investment and Securities Act 2007 requires Nigeria’s Exchange to establish and maintain an IPF.
Speaking exclusively to Proshare Webtv, Dr. Gamaliel Onosode expressed delight at the opportunity to serve as well as ensure transparency.
However, Chief Executive, Nigeria Stock Exchange, Mr. Oscar Onyema said about 450 million naira have been put into the IPF and it is believes the Board will come up with ways to execute the intent of the ISA Act 2007.