Nigeria: SEC, NSE Urge Law Firms to List On Stock Exchange

Aug 24, 2017 | Daily Trust; All Africa

The Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) have called on law firms in the country to merge into bigger entities and list their shares on the floor of the NSE.

The Director General of the NSE, Mr. Mounir Gwarzo, made the call while serving as a discussant at a break-out session (Creating Secondary Market For Investors) of the Annual General Conference of the Nigerian Bar Association, holding in Lagos. Gwarzo encouraged law firms to merge into large firms that would possess the capacity to be listed on the floor of a securities exchange. The DG's position was re-echoed by Mr. Oscar Onyeama, the CEO of the Nigerian Stock Exchange (NSE), who also urged legal practitioners to invest in the Nigerian capital market. Gwarzo also called on legal practitioners to refrain from instituting unnecessary litigations at the instance of their clients who are involved in an enforcement action of the commission. Source: All Africa