Skip to main content

....

Nigeria Legislative Arm Pass Bill for Nigeria Stock Exchange to be Publicly Listed





Africa's second largest sub Saharan capital market, only after Johannesburg,The Nigerian Stock Exchange (NSE),  has received
the blessings of the legislative chambers to become a publicly listed entity. The lawmakers voted in favour of the move yesterday, 25th January, 2018.


With this move, it can now issue shares to investors although it is not immediately known if it would issue via initial public offer(IPO).



 It got approval from most of it's key players, mainly corporate investors and stock brokers, to go ahead with the move last year.

The lower legislative house; House of Representatives, passed the bill yesterday, after the upper legislative house, the Senate, passed the bill in December.

The bill is waiting the approval of the president, Pres. Buhari, to sign it into law.
With this move, it joins Johannesburg Stock exchange, which became listed about 12 years ago, in 2006.

The NSE was initially established in 1960 as the Lagos Stock Exchange (LSE) but changed it's name to the Nigerian Stock Exchange (NSE)  In 1977.

While the actual reason for the NSE's decision to go public is not known, one of the biggest reasons why companies decide to go public, is to generate funds and spread risk.

Comments

Follow Us

                                  






Popular posts from this blog

Chioma Ikokwu aka Chioma Good Hair Shares 3 Secrets Behind the Success of the Good Hair Brand

Popular Lagos Socialite and business woman, Chioma Ikokwu aka Chioma Good Hair has built a successful business,"Good Hair" with her partner, Kika Osunde,  over the years. 
The duo who

Kayode Abbas Reveals Why You Should Set Goals Via Social Media for Your Business

Kayode Abbas is a social media expert and in this post he shares how social media is a powerful tool and how ways we can make money off it.

85% of people use social media without goals. I was consulting for a client that wanted to quit social media because he wasn't getting results. I probed and found he didn't have goals set. How can you get as much value as possible from the time and resources you put into social media ?


Good News for Nigerian Businesses!!..Britain to add Nigeria's Naira to List of Accepted Trade Currencies

Good news for Nigerian businessmen and women.....Britain just added the Naira to the list of pre approved currencies for conducting trade.

This moves makes it easy for transactions with Nigerian businesses denominated in the local currency to be conducted.

With this, the Naira becomes one of the three currencies from West Africa that can benefit for its programme of funding transactions that promote trade with Britain.

According to the British High Commissioner to Nigeria, Paul Arkwright, via a statement.........
“This is a clear indication of how much value the UK places on its relationship with Nigeria. It will provide a firm foundation for a significant increase in trade and investment between both countries." According to the the statement, the UK would provide up to 85 per cent of funding for projects containing a minimum of 20 per cent British content.
“The Naira financing will follow the same structure as someone buying in sterling, except that Nigerian firms taking out …