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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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