NSE demutualisation : Nigerians won’t be shortchanged – Senate

The Senate has expressed its commitment towards ensuring Nigerians are not shortchanged as the upper chamber begins work on a bill to demutualise the Nigerian Stock Exchange, NSE.

Acting Chairman of the Senate Committee on Capital Markets, Senator Foster Ogola disclosed this at a briefing with Senate Correspondents at the National Assembly complex.

The demutualisation bill seeks to enable the conversion and re-registration of the Nigerian Stock Exchange from a company limited by guarantee to a public company limited by shares.

Senator Ogola says the proposed demutualisation of the Stock Exchange was an integral part of the 10-year Capital Market masterplan.

The bill passed second reading in the Senate during the week and is expected in four weeks.

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