Reps Pass Second Bill On Demutualisation Of Stock Exchange
The legislative framework that will allow the Nigerian Stock Exchange transform from an organisation limited by guarantee into a new one limited by shares has passed a second reading at the House of Representatives.
Leading the debate at the Lower House, Honourable Tajudeen Yusuf explained that the transformation of the Stock Exchange into a public liability company will improve liquidity, promote competitiveness and engender good corporate governance.
The Speaker of the House, Yakubu Dogara, has, therefore, referred the Stock Exchange bill to the House Committee on capital markets and other institutions for further legislative action.
The NSE started its demutualisation journey in 2001 but has gained more traction in the past few years.
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