Saturday 29 December 2018

Nigerian Stock Exchange Expels 35 Stockbroking Firms (See Full List)

The Nigerian Stock Exchange (NSE) has revealed that 35 stockbroking firms have been expelled from the bourse.
The exchange disclosed this in a notice published in Friday’s edition of the Punch newspapers.
According to the NSE, the decision was reached after a special meeting of its national council on December 13.
The NSE said the public should not deal with the expelled firms in relation to transactions on the exchange and that any investor who has a stockbroking account with the firm should transfer to any licensed firm that is a dealing member of the exchange.

Here is a full list of the affected firms: 

  • Andruche Investments Plc
  • Angela Eccies Limited
  • Associated Trust Investment and Finance Limited
  • Beaver Securities Limited
  • Betraco Securities Limited
  • Cobal Ventures Limited
  • Financial Intermediaries Limited
  • Corporate Focus Securities Limited
  • GF Securities Limtied
  • IB Finance Limited
  • Intergrated Securities Limited
  • Integrated Ventures Nigeria Limited
  • Intercommerce and Consultant Limited
  • Investment and Capital Development Company Limited
  • Investment Trust Company Limited
  • Kamrash Securities Limited
  • Lakeside Asset Management Limited
  • M and F Investment and Securities Limited
  • Milestone Investment and Securities Limited
  • Millennium Investment Trust Limited
  • Moji Securities and Investment Nigeria Limited
  • Morgan Trust Asset Management Limited (formerly known as IMB Morgan Plc/IMB Securities Limited).
  • Multibank International Securities Limited
  • Nationwide Finance and International Securities Limited
  • Novelty Investment Limited
  • Optimus finance and securities Limited
  • Pabod Finance and Investment Company Limited
  • Pabofin Securities Limited
  • Path Securities and Investments Limited
  • Shiroro Finance Limited
  • Tassel Finance and Investment Limited
  • Unique Securities and Finance Services Limited
  • Upper Credit Securities and Investments Limited
  • WellsFargo Capital Limited
  • Westland Investment Limited.
The expulsions take immediate effect from the date of the National Council decisions and all rights, incidences and privilege of membership automatically cease. The affected firms are also hereby notified by the notice.

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