Exchange Commission Approves ₦56.8b New Issues

The Securities and Exchange Commission (SEC) said it has approved the floatation of eight equities and one supra-national bond worth ₦56.87 billion as at June, 2013; this is an improvement when compared to three equities and one corporate bond of ₦4.49 billion in the corresponding half year of 2012.

The Director General of SEC, Arunma Oteh, said recently that improvement in the level of investor confidence is beginning to attract issuers to the primary market.

NSE Demutualisation Rules to Be Released Soon

The governing rules for the demutualisation of the Nigerian Stock Exchange will soon be released, the Securities and Exchange Commission (SEC) has said.

Suleyman Ndanusa, the Chairman of SEC Board, announced this yesterday at the inauguration of the NASD Over-the-Counter (OTC) market in Lagos. Mr. Ndanusa said that the demutualisation of the NSE would go a long way to improve activities in the market.

Demutualisation is transforming the NSE from being a self-regulatory organisation to a public organisation.