Business
NSE Restates Prohibition Of Naked Securities Selling
The Nigerian Stock
Exchange, (NSE) has restated the prohibition of naked selling of securities in the Nigerian Capital Market.
Naked short selling of securities is a practice of selling securities which the seller does not own and has not made arrangements to borrow such securities.
The process was introduced in 2012 along with market making and securities lending.
While market making has been active, securities lending and selling have not been as active as expected.
Also, securities selling was allowed in the market in the past but now, the NSE has reminded dealing members that make short-selling remained prohibited.
According to the NSE, any dealing member who violates the rule will be fined 10 percent of the total transaction value.
“Naked selling is prohibited by the Exchange. Any dealing member that engages in naked short selling shall be liable to pay a fine of 10 percent of total transaction value and any benefit accruing from such transaction shall be paid to the Exchange.
In a major move to deepen the liquidity in the market, the NSE introduced market making and securities lending in 2012.
On the other hand, securities lending is the lending of securities such as stocks and bonds by one party to another. The borrower provides acceptable collateral to the lender in the form of cash or other acceptable securities of equal but often greater value than the securities borrowed in order to protect the lender against any default by the borrower.
Business
FEC Approves Concession Of Port Harcourt lnt’l Airport
Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
Business
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