Functions of Nigerian Stock Exchange…
Learn more about the functions of the Nigerian Stock Exchange in our society today!
The Nigerian Stock Exchange which was established in 1960 as the Lagos Stock Exchange (NSE) inaugurated its council on the 5th of September, 1960.
On the 25th of August, 1961, the body began full operations officially having about 19 securities listed for trading; they had already begun informal operations earlier in June, 1961.
The NSE belongs to a number of international and regional organizations that promote the development and integration of global best practices across its operations thereby making their commitment to adopt the highest levels of international standards effective.
NSE belongs to the Sustainable Stock Exchanges (SSE) Initiative, International Organization of Securities Commissions (IOSCO), SIIA’s Financial Information Services Division (FISD), the Intermarket Surveillance Group (ISG), the World Federation of Exchanges (WFE), and also a founding member and executive committee member of the African Securities Exchanges Association (ASEA).
From the day of the establishment of the NSE, the body has proven themselves competent in their job. A lot of defaulted companies had been suspended so far by reason of defaulting against the set rules guarding the money earnings in the country.
Below are a list of the suspended companies is listed below:
- African Alliance Insurance Plc
- Equity Assurance Plc
- Fortis Microfinance Bank Plc
- Guinea Insurance Plc
- Premier Paints Plc
- Resort Savings & Loans
- Sovereign Trust Insurance Plc
- African Paints (Nigeria) Plc
- Aso Savings & Loans Plc
- Ekocorp Plc
- Evans Medical Plc
- Goldlink Insurance Plc
- Great Nigeria Insurance Plc
- Omatek Ventures Plc
- Union Dicon Salt Plc
- Union Homes Savings & Loans Plc
- Universal Insurance Company Plc
Is the NSE only known for suspending defaulted companies? No! let us see their functions below.
10 Functions Of Nigerian Stock Exchange
Among other amazing functions of the Nigerian Stocks Exchange, below are ten functions of the Nigerian Stock Exchange.
- NSE makes opportunities for raising new capital available.
- NSE protects the investors from shady deals.
- NSE guides the government, investors and industrialists on dealing with stocks and securities.
- NSE fights against inflation.
- NSE encourages and promotes savings.
- NSE disseminates information to entrepreneurs and industrialists.
- NSE facilitates dealings in government securities.
- NSE provides parameters for measuring companies’ goodwill
- NSE provides a platform for selling and buying of stocks and securities.
- NSE assists the government to implement monetary policies.
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