SEC Advocates Incentives For NSE Listed Firms

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The Director-General of
Securities and Exchange Commission, Mr Munir Gwarzo, has said that the use of incentives can encourage the multinational companies to list on the floor of the Nigerian Stock Exchange (NSE).
Gwarzo who made this known in a statement made available to The Tide on the capital market performance urged the federal government to help encourage the companies operating in the country to list.
He said that listing on the NSE would give Nigerians the opportunity to benefit from their investment, lamenting that what is being currently generated from the market operations could not cover 50 per cent of its cost due to downturn in the market.
He noted that if government stressed that only the listed multinationals would be given contracts in the country, “many would be forced to list”.
Gwarzo said that listed companies should have an edge over those who refused to list, adding that the listing of multinational companies would be of immense benefit to the economy, especially at this crisis period.
He noted that SEC is very keen for companies to be listed, as “the more listed companies, the deeper the market”.
Gwarzo also said the commission is working hard to attract more retail investors into the Nigerian capital market to deepen and develop the market.