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N70m recapitalisation: NSE suspends 20 stockbrokers

INTERNAL cleansing of the stock market by the Nigerian Stock Exchange (NSE) of firms that failed to meet the N70 million shareholders’ fund limit, continued at the weekend, as 20 dealing members (stock brokers) were suspended. A source within the Exchange confided in the Nigerian Compass that the new set of stock-broking firms fell under NSE hammer, following the report of an audit carried out on them. The source informed that the audit found a shortfall in the shareholders’ funds against the required ...
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Added February 06, 2011
from Nigerian Compass