The development of any capital market around the globe rests on the fact that such market must continue to witness continuous amendments and introduction of new rules which will aid new initiatives and innovations.
The Exchange, in positioning itself to be the preferred capital market of choice in the African sub region, is introducing a variety of tradable instruments to satisfy the investment needs of individual and institutional investors looking to diversify their portfolios, reduce risk and invest internationally in the most efficient manner possible.
The Exchange is creating a Premium Board for an elite group of Issuers that are leaders in their respective sectors. They will be required to meet stringent corporate governance, capitalisation and liquidity conditions. The Exchange is therefore proposing a new set of additions to its Listings Rules, which address Listing on the Premium Board of The Exchange (the draft Rules).
The Nigerian Stock Exchange on Wednesday, July 23, 2014, organized its quarterly CEO Dinner as part of its commitment to developing key sectors of the nation's economy. The dinner which focused on the oil and gas sector had major stakeholders in the industry in attendance.
The Central Bank of Nigeria (CBN) in implementing its consumer protection initiatives, observed that timely resolution of complaints from consumers against Financial Service Producers (FSPs) within the regulated timeline has been a major challenge for the Banks, FSPs and consumers. Amongst other issues, availability and access to supporting documents were identified by stakeholders as a major setback for the timely resolution of complaints.
"Competent person" means an engineer, geoscientist or other mining professional who is a member of an approved professional organization with an enforceable code of ethics and who must have a minimum of five (5) years experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which that person is undertaking.
The term "delisting" of securities means removal of listed securities from The Exchange. Consequently, the securities of an affected Issuer will no longer be traded on The Exchange and the Issuer's name will be removed from the Daily Official List of The Exchange.
The Council shall prescribe the annual subscription and fees payable by each Dealing Member from time to time. An Ordinary Member of The Exchange, other than an Issuing House, is not required to pay annual subscriptions unless and until it applies for an
Nigerian central bank Governor Godwin Emefiele kept the benchmark interest rate unchanged at a record high in his first policy meeting, while promising to lower borrowing costs gradually as price pressures ease.
Directors or Trustees are responsible, collectively and individually, for ensuring that listed Issuers comply with the Exchange's Rules relating to their Board Meetings and General Meetings. The Exchange expects Directors and Trustees to fulfill fiduciary
The objective of these Rules is to guard against the risk that interested persons could influence the Issuer, its subsidiaries or associated companies, to enter into transactions with such interested persons that may adversely affect the interests of the
The principal function of The Exchange is to provide a fair, orderly and efficient market for the trading of securities. Every Issuer that is listed on The Exchange is required to provide The Exchange with timely information to enable it efficiently perfo
This is to inform Authorized Dealers, Nigeria Customs Service, Standard Organization of Nigeria and National Agency For Food, Drug Administration and Control that the meeting of Foreign Exchange officers of banks has been scheduled to hold at the Sheraton
Further to our circular referenced FPR/DIR/CIR/GEN/01/020 dated 16 August, 2011, directing Deposit Money Banks (DMBs), Discount Houses and Other Financial Institutions to set up and/or expand their existing ATM Help Desks to handle all customer complaints
The Central Bank of Nigeria (CBN) has noted with concern the impunity with which some borrowers default on their loans in some Institutions and yet are availed further credit facilities by other Institutions under same or sometimes, different identity.
The European Union seeks to support Nigeria's governance. (Image source: Benji Robertson/Wikimedia Commons)The European Union has signed a financial agreement for US$697bn with the Nigerian government to support the nation's infrastructure
The International Organization of Securities Commissions (IOSCO) today published a report on Risk Identification and Assessment Methodologies for Securities Regulators, which provides a practical overview of the methods, approaches and tools that IOSCO an
Having successfully completed phases 1 and 2 of the cash-less policy in six Pilot States and the Federal Capital Territory, the Management of the Central Bank of Nigeria hereby notifies all stakeholders and the general public that phase 3 of the policy’s
On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their foreign portfolio investments (FPI). The table below shows an analysis of transactions on The Exchange at the end of May 2014.
The Quotations Committee of the National Council of The Nigerian Stock Exchange, on Monday, June 2, 2014, approved the delisting of some entities from the Daily Official List pursuant to the provisions of the Greenbook (Listing Rules) of The Exchange, spe
In line with his vision of entrenching a more professional and people-focused central bank, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has approved the redeployment of Deputy Governors in the Bank.
The Research Department of the International Organization of Securities Commissions (IOSCO) today published a Staff Working Paper entitled A Survey of Securities Markets Risk Trends 2014: Methodology and Detailed Results, which provides a detailed analysi
The Nigerian Stock Exchange (NSE) has announced the expected review, by end of June 2014 of the NSE 30, NSE 50 and the five Sectoral Indices of The Exchange - the NSE Banking, NSE Consumer Goods, NSE Oil & Gas, NSE Industrial, NSE Insurance and the NSE Lo
The attention of the Central Bank of Nigeria has been drawn to the fact the DMBs have not been refunding their customers that have been shortchanged by the ATMs’ partial dispense error, while some with non-dispense error were also not refunded. This issue
It will be recalled that the CBN, in conjunction with the Bankers’ Committee, issued the Revised Guide to Bank Charges (the Guide) on March 27, 2013. The Guide sought to standardise charges for various products and services offered by banks.
The Investor Relations Value Add is a key element of The Exchange's business development efforts aimed at creating a competitive edge for listed companies as regards investors interest, liquidity and value. As part of our suite of Value Added Services (X
Broad money supply, (M2), recorded a modest growth of 0.2 percent at the end of the first quarter of 2014, compared with 1.2 percent at the end of the corresponding quarter of 2013. The development reflected, largely, the 2.1 and 7.9 per cent increase in
On a monthly basis, The Nigerian Stock Exchange polls trading figures from major custodians and market operators on their foreign portfolio investments (FPI). The table below shows an analysis of transactions on The Exchange at the end of April 2014.
In exercise of the powers conferred on the Bank by Section 2 (d) of the Central Bank of Nigeria Act, 2007 and Section 57 (2) of the Banks and Other Financial Institutions Act (BOFIA), Laws of the Federation of Nigeria, 2004 to issue guidelines for the mai
The European Central Bank unveiled a wide range of measures designed to support Europe's gradual economic recovery. But in the absence of single big-shot policy, the central bank—and investors—are still left waiting.