H2, 2021: We Expect the Admission of 4 Securities in the Over-the-Counter (OTC) Securities Market


Tuesday, June 22, 2021 / 10:00 AM / Ottoabasi Abasiekong for WebTV / Header Image Credit: WebTV

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At least four (4) additional securities are expected to be listed in the Nigerian Over-the-Counter (OTC) securities market by the second half of 2021. The Managing Director of the NASD Plc, Mr. Bola Ajomale, disclosed this in a discussion on "The Nigerian Unlisted Securities Market: Opportunities for Growth".

According to Ajomale, two securities have already been admitted into the market while the remaining two will join before the end of the year.  He said the listing of the Nigeria Exchange Limited shares created positive effects for the market, as it brought in a broader community of investors in the OTC market.  Mr. Ajomale said the focus of the NASD Plc was to provide an unlisted securities market, that is liquid and transparency.

 Speaking further he said the NASD operates across the various segments of the market from the equities to the OTC.  In the area of potential listings in the market he noted that there has been discussions with the Bureau of Public Enterprises (BPE) to see how state-owned  enterprises can be liberalized through the OTC market.

 He highlighted the fact that there was a larger interest in Donor Crowdfunding and several clients have been lined up already with a collective investment scheme (CIS) structure designed to drive the process.  To deepen the awareness on the opportunities of crowdfunding, the NASD MD hinted at possible crowdfunding campaigns to sensitize investors on the benefits of the product.

 Concerning the SEC draft rules for crowdfunding he said NASD would continue to engage as it is the end of a long process, and was still looking forward to effective regulations in the market. Looking at the second half of the year 2021, with a relaxation of COVID-19 restrictions the OTC market boss believed economic activities would pick up.

 He encouraged companies who faced socio-economic challenges to leverage the capital market, to drive their expansion plans and strategies.

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