The October 2018 Nigerian Capital Market Service Report – Proshare

Proshare

Monday, November 05, 2018 03:00 PM / Research@proshareng.com

 

Nigeria’s Equities Market closed the month of October 2018 further in red as NSEASI dipped by -0.92% as against -5.97% loss recorded in the month of September 2018 while market YTD performance dished further in the negative territory as it stood at -15.11% at the end of the month under review. 

On market development, regulation and investors’ protection, the Securities and Exchange Commission (SEC) proposed new rule on green bonds and sundry amendments on the inclusion of BVN as a means of identification of individual clients in the Capital Market. Other amendments proposed are in relation (1) Rule on Investment Advisory Services; (2) Amendment to Rule 61 - Nominee Accounts; and (3) Amendment to Rule 96 & 97- Investment Advisers.

The CBN, during the month under review released the code of corporate governance for MFBs, FCs, BDCs and DFIs while the final guidelines for payment service banks was also released among other regulatory actions. 

The FMDQ held its maiden corporate issuers’ bootcamp training themed “Access to Long Term Financing Through the Nigerian Debt Capital Markets” as part of the overall efforts to deepen the capital markets, by enhancing issuances of corporate securities. Other activities around the FMDQ OTC market are: the hosting of FMDQ, FSD Africa & CBI Maiden Investors’ Roundtable and the C&I Leasing Plc listing of its N7bn Fixed Rate Bond. 

In this edition of The Nigerian Capital Market Service Report, we continue the updates of our data section with latest figures on Economic indicators & Upcoming Events in the market and economy. This is to ensure that we deliver a comprehensive capital market service report that helps cover and track innovations, developments as well as service issues in the market effectively. 

In all, the October 2018 SSS Quality Report is a snapshot and aide memoire of developments in our market - tracking milestones that the investing public should be aware of. Do feel free to share your opinions/observations and feedback with us vide research@proshareng.com

 

Thank you.

 

For: Analyst Editorial Board

Reshu BAGGA

CEO, The Analyst

 

Proshare Nigeria Pvt. Ltd.

 

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