DMO Announces The Appointment of CSL Stockbroker as the New Government Stockbroker

Wednesday, February 19, 2019 / 1:14 PM / by DMO / Header Image Credit: EcoGraphics

The Debt Management Office (DMO) is pleased to announce the appointment of CSL Stockbrokers Limited (CSL), a member of FCMB Group Plc, as the new Government Stockbroker.

By this appointment CSL replaces Stanbic IBTC Stockbrokers Limited who had served as the first Government Stockbroker with a mandate that includes posting Bid and Offer Prices on The Nigeria Stock Exchange (NSE) for Federal Government of Nigeria (FGN) securities.

The Government Stockbroker supports the DMO's objective of promoting trading of FGN securities on the NSE and attracting more retail investors to the domestic capital market.

CSL was appointed as the Government Stockbroker on the basis of an Open Competitive Bidding process in which other Stockbrokers participated.

In their capacity as Government Stockbroker, CSL will build upon the achievements already recorded by increasing the participation of retail investors in all FGN Securities (FGN Bonds, FGN Sukuk, FGN Savings Bond and Green Bonds) listed and trading on the NSE.

The appointment of CSL as the Government Stockbroker is a further demonstration of the commitment of the DMO to the development of the domestic market, in particular, promoting liquidity, as well as, growing and diversifying the investor base.

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